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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| E2V Tech | E2V | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 274.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 274.50 | 274.50 |
| Top Posts |
|---|
Posted at 11/11/2014 08:16 by cockneyrebel Investors ChronInvestec |
Posted at 23/4/2012 13:17 by simon gordon Motley Fool:A Technology Share With Decent Upside By Malcolm Wheatley 20 April 2012 Positive noises from a British success story. It's a couple of years since I last took a look at a business that I've had on my watch list for a while. But an end-of-year trading update, ahead of full-year results due in June, piqued my interest. And, it's fair to say, I've not been disappointed. e2v Technologies (LSE: E2V), as I remarked the last time I looked at the business, is probably not a name you'll recognise. But fancy moniker apart -- which I've never understood, anyway -- the business is the old Marconi Applied Technologies. Prior to 1999, it was the English Electric Valve Company. Advanced technology Forget the heritage, though. e2v these days is a very different business, as a quick glance at the company's website confirms. e2v products find themselves in some peculiar places: the Airbus 380; the F18 Super Hornet jet fighter; image sensors fitted to the Hubble Space Telescope, the International Space Station, and space probes orbiting Mars, Venus and the sun -- and, of course, a very profitable line in the Radio Frequency technology underpinning medical body scanners and other high-tech applications. The trouble is, space and defence haven't been good markets to be in of late, as companies such as BAE Systems (LSE: BA) have been finding out to their cost. Customers such as the United States Department of Defense, NASA and our own Ministry of Defence have been suffering budget cutbacks, and that has translated into lower demand for e2v's products. Recovery To its credit, the business has been battling these problems for a while. Throughout the recession, it's been consolidating its manufacturing sites, making more of its more civilian-centric Radio Frequency technology, and reducing debt and overheads. And this week's trading update is a very different story to the one investors were greeted with two years ago. Take a look: ■Full-year trading performance now expected to be at the upper end of management's previous expectations ■Positive progress in executing key growth programmes in the US and Asia ■Positive progress in building our market positions in key application segments. Cheap And while we'll have to wait until June for the financials, the numbers that we were given looked encouraging. 10% underlying turnover growth; above-target operating profit margin of 17%; a reduced interest bill of just £2.5 million, and a modest -- £2 million -- increase in net borrowing, due to the purchase of a manufacturing site in the United States. The order book is down, admittedly, but that was expected. Today's price of 139 pence puts the company on a forecast price-to-earnings (P/E) ratio of 11, yielding a FTSE-average 3.5%. Given the turnaround in the business's fortunes, I think that's cheap. And analysts at Investec Securities, one of the few brokers to cover the company, agree. Placing the business on the average P/E of its peer group, they say, points to a share price of around 200 pence. |
Posted at 20/3/2012 16:53 by nermil The other side of the coin in partnering with Rio Tinto it seems...E2V's prospects for a re-rating are tied up with mining and with China trying to avoid its own meltdown, mining is not a good place to be right now. Everything is down today for me however, not just E2V. I sold out some of these the day I saw a headline for 'S&P hits highest level since June 2008'. That's a sell signal for me. Sold some, kept some. I have no suggestion for you PJ1. I'm not that sort of investor. I'm not generally good at buying in and out. I'll hold for now, and see what comes out of the partnership and while a lovely extra, mining is only a relatively small part of E2V's revenue stream in any case (though with the potential for it to become very important depending on the outcome of its vermiculite (sp) trials. |
Posted at 09/11/2011 10:14 by 1356 I think this is one of two things ahead of the results:a) cautious investors taking money off the table after the rise in October "just in case" results are poorer than expected, or (and more worrying) b) people in the know selling I'm hoping it's the former. The one worry is this statement from the update, and my concern is if the conditions have spread to other parts of the business: "The broader macro economic environment remains of concern and there are some signs of softening demand." |
Posted at 27/7/2011 18:03 by nermil I attended the AGM today. I did get some one on one time with the CEO-I was the only ordinary shareholder there so it wasn't much of a scrum to get to him. I did ask re the branded E2V camera line. He didn't feel they were moving into any E2V branded cameras and didn't seem particularly interested in Andor or pursuing their market share. It didn't seem to be any sort of a priority for them. I'm not familiar with Andor however to be honest. In terms of acquisitions, he did suggest that E2V can't rely on organic growth alone. And said with the substantial time that an acquisition can take in terms of finding a suitable target and doing the appropriate due diligence they were not ruling out looking along these lines in the near future. I got the personal feeling that this was something they were beginning to consider but there are no plans on the table at the moment. Their strategy for recovery has focused on organic growth but he left open the possibility of acquisitions. In terms of the vermucilite trails they are pursuing the Vermucilite association to begin a commercial field trial which they hope to get off the ground around September. While money will change hands for that which I assume would be some form of a milestone payment they are not at the stage of taking orders. He was positive on the technology however saying it could have a significant impact for the company. I asked re its application in gaining a revenue stream from the mining sector. He said that was some way off and mentioned 2014 as the most likely time for this sort of development. Maybe that puts things into perspective a bit. I also asked re the Eurofighter/India deal but he played this down and said most of the value for the company as a supplier had already been realised, though of course any new orders for the Eurofighter programme would be welcomed by E2V. I asked also re his view on the economic climate and its impact on European and US spenidng particularly as it relates to healthcare and defence. While he admitted the ecomomic climate continues to be difficult moves made by the company in terms of 'moving up the value chain' as he put it, had increased the market size available to the company from £2bn to over £3bn and he felt that this would help the company continue to meet its targets for growth. I was fairly reassured as an investor despite finding the sell off had continued when I'd been able to check back here. He did say that E2V's shareholder base was heavily biased towards institutions and that due to the company's very technical and business to business focus that the company's didn't have a huge retail investor base. Well that's it other to say that the management team I met were very personable and easy to approach and possibly a little shocked to see a punter like me show up to their AGM! Coffee was nice though.. |
Posted at 26/7/2011 10:47 by nermil Judging by its performance so far this week, the market does not seem to be expecting good things from its interim statement. This sort of share price weakness is very worrying. Looks like another round of QE is on the cards and so too are exceptionally low interest rates. But I suppose weakness in the US and Europe is making investors worrying about export driven companies. |
Posted at 19/7/2011 08:50 by nermil The last time they hit below their 100 day moving average however was before some pretty exceptionaly results and before the div was reinstated. I do think the market is penalizing E2V for its industry. Spectris doesn't seem to have been hit however, but it seems to have a lot of exposure to heavy industry which again should be of concern these days. Surely a crisis sparked by sovereign debt which goes onto create another financial crisis would put the brakes on economic growth and hit some of their key sectors as well. The US will certainly cut back on its own defence spending. $4 trillion has got to come from somewhere and while the republicans may not like it, some of that will come out of the defence budget. E2V already pointed to weakness in its US defence sales even in its last good set of results. The Europeans for their part seem as determined as ever to back the Eurofighter programme. And are trying to sweeten the deal to get India on board. The problem in this sort of market, is that it takes something completely fantastic to see a share price rise and even then any rally seems to be quickly wiped away. While I am deeply concerned about Euro situation and doubt the Euro will still exist in its current form in 5 years. I think assuming, that this worst case scenario will be mismanaged, feed into a new global financial crisis and then go onto spark a new recession is getting ahead of one's self. I'm staying well away from financial stocks and get out of Aviva a few weeks back and seem to have been proved right at least for now. But corporate profits for now seem healthy and few stocks seem over priced. Inflation here and in the US seems under control and it all looks like we may see QE3. I'll be watching things very closely on Thursday however. That European Summit may be Europe's last chance to show to they have the political will to manage this situation. The market seems to losing faith that they can, but I still think its jumping well ahead of itself in assuming that its the beginning of another crisis on the scale of 2008/2009. Hopefully that trading update simon gordon will re-assure investors over E2V. |
Posted at 20/6/2011 10:22 by nermil Miserable days of trading for E2V lately. Blame Greece I suppose. A ray of hope in amongst it for E2V. Germany pushing hard on the Eurofighter deal. For new investors though a bargain here on E2V today. |
Posted at 07/6/2011 06:57 by simon gordon Indie - 7/6/11:E2V Technologies Our view: buy Share price: 127p (-6.5p) The electronic components manufacturer E2V published is full-year figures yesterday and on the face of it, they looked nothing short of spectacular. Adjusted pre-tax profits in the 12 months to end of March stood at £33.6m, against £9.4m last year, while net borrowings, excluding debt issue costs, stood at £28.1m, down from £44.8m last year. The company also had some cheery news for income investors, reinstating its dividend with a 3.6p per share payout, after nothing last year. Beyond that, there was news of strong underlying sales growth and a healthy order book. As the analysts at Seymour Pierce quickly noted, the strong results made E2V look like a growth company. From where we stand, the fact that its share trade on affordable forward earnings multiples of around 12 times also makes it look like one to buy. |
Posted at 16/3/2011 13:31 by tigerfedor they have a financial calendar on their website under investor relations |
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