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QQ. Qinetiq Group Plc

365.20
2.20 (0.61%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Qinetiq Group Plc LSE:QQ. London Ordinary Share GB00B0WMWD03 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  2.20 0.61% 365.20 1,783,463 16:35:02
Bid Price Offer Price High Price Low Price Open Price
365.20 365.60 366.00 362.20 364.80
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Security Systems Service 1.58B 154.4M 0.2681 13.64 2.11B
Last Trade Time Trade Type Trade Size Trade Price Currency
18:09:55 O 15,616 364.714 GBX

Qinetiq (QQ.) Latest News

Qinetiq (QQ.) Discussions and Chat

Qinetiq Forums and Chat

Date Time Title Posts
26/3/202409:20QinetiQ with Charts & News1,550
18/8/200910:04Bargain?5
04/6/200913:41QinetiQ Group plc - who's arming with them?972
04/6/200617:25QuinetiQ - Diluting the shareholding?7
11/5/200607:30QinetiQ-IPO=$$$ for PI's6

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Qinetiq (QQ.) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
18:10:10364.7115,61656,953.74O
18:09:48364.236,52723,773.10O
18:07:28364.5222,24181,073.78O
18:06:45364.912,5579,330.85O
17:57:09365.2033,313121,659.08O

Qinetiq (QQ.) Top Chat Posts

Top Posts
Posted at 25/3/2024 15:15 by wad collector
That looks like an impressive toy plane carrying the Rattler. Bet the Rattler programme is a popular one at QQ.
Posted at 14/3/2024 22:26 by bartyb
Foster-Miller, doing business as QinetiQ North America, Waltham, Massachusetts, is awarded an $11,029,151 firm-fixed-price modification to a previously awarded indefinite-delivery/indefinite-quantity contract (N00174-21-D-0019) to exercise Option Year Three for production, engineering support, and post-production support of the MK 2 Man Transportable Robotic System series systems and Talon systems. The scope includes production of systems, depot level repair parts, initial spares kits, consumables, repair parts and approved accessories. The location of the work to be performed will be determined on individual orders and is expected to be completed by March 2026. No funds are being obligated at the time of modification award.The Naval Surface Warfare Center, Indian Head Division, Indian Head, Maryland, is the contracting activity.*Small Business
Posted at 28/2/2024 11:46 by kibes
BP and Shell have done endless share buybacks in the past and the shares have gone nowhere. They are still worth what they were 25 years ago. It is true that if the shares are cancelled there are less shares in issue but the problem is the cash has gone - it has been spent on nothing and evaporated into thin air. Dividends are a much better route.
Posted at 10/2/2024 15:19 by bedford1976
I would not be surprised if the share price does not reach £4.50 - £5 with the share buyback in progress. Even at £5 the shares are pretty cheap for the sector.
Posted at 16/1/2024 07:08 by someuwin
QinetiQ Group plc

Third Quarter Trading Update and

Share Buyback Programme

16 January 2024 - QinetiQ Group plc ("QinetiQ" or the "Group") today issues a trading update covering its third quarter and announces its intention to commence a share buyback programme to return up to GBP100 million to shareholders over 12 months.

On-track to deliver full year expectations

The Group has delivered good operational performance in the third quarter, with continued organic revenue growth and operating profit margin in line with our expectations. Order intake has continued to remain strong, with year-to-date orders at circa GBP1.35bn and revenue under contract for the full year improving to 95%, higher than this time last year. As expected, cash generation has been very strong with cash conversion significantly above 100% in the quarter. We are now back in-line with our normal cash profile and on-track to deliver 90%+ cash conversion for the full year, as previously guided. Overall, the Group is making good progress and we remain on-track to deliver in line with expectations for FY24 [1] .

EMEA Services has continued to perform particularly well with strong revenue growth offsetting modestly lower Global Solutions revenue, due to longer than expected continuation of US market uncertainty and budget delays. Reflecting this Avantus revenue growth will be around the lower end of our second half expectations, however the business continues to win significant new business strategically aligned to national defence and security priorities, pleasingly ahead of our plan, with $872m [2] of new contract awards so far this year. Strong orders momentum and good programme execution, demonstrated by the successful transition of the Tethered Aerostat Radar System (TARS) under our operational control ahead of schedule in December, underpins our continued confidence in Avantus delivering our medium and long-term growth expectations.

Capital allocation and launch of GBP100m share buyback programme

Our strategy to deliver long-term sustainable growth is unchanged and underpinned by our disciplined capital allocation policy. As explained at our Investor Seminar in October 2023, we continuously evaluate the deployment of our capital to maximise value through organic and inorganic investments and to deliver healthy returns for our shareholders, whilst maintaining a prudent balance sheet.

During the third quarter we have continued to manage our pipeline of inorganic opportunities, but at this present time no potential acquisitions meet our rigorous strategy-led and financial criteria. Given the strength of the Group's balance sheet, the highly cash generative nature of the business and the Board's view of the current undervaluation of the Group, we have concluded that now represents a compelling time to return excess capital to shareholders. We are therefore pleased to announce the launch of a GBP100m share buyback programme in February 2024, subject to shareholder approval, that we expect to complete over the next 12 months.

The proposed share buyback programme represents an attractive use of our capital to drive shareholder value, whilst maintaining leverage less than 1.5x (net debt/EBITDA) and maintaining the financial flexibility to invest in the ongoing execution of our strategy to deliver sustainable growth and attractive returns.

Steve Wadey, Group Chief Executive Officer said:

"QinetiQ has a critical role in ensuring our customers across our home countries of the UK, US and Australia have the defence and security capabilities they need. Our excellent order intake demonstrates the continuing demand for our high-value, cutting-edge services and products. Our operational performance in the third quarter underlines our confidence in delivering another year of good organic growth at stable margins with strong cash conversion.

"Given the Group's high cash generation and confidence in the long-term outlook, we are pleased to announce the launch of a GBP100m share buyback programme to increase returns to shareholders, whilst maintaining the ability to deliver our long-term growth strategy."
Posted at 07/12/2023 12:17 by johndoe23
Share price performance since results has been a disgrace
Posted at 06/12/2023 20:30 by someuwin
QinetiQ: £500m acquisition or buyback? This American bank has its say

Published: 14:36 04 Dec 2023 GMT

US investment firm Citi has proposed that QinetiQ Group PLC (LSE:QQ.) could greatly benefit from a share buyback programme.

This suggestion comes in response to the defence contractor's share price underperformance this year.

Citi's analysis indicates that £500 million could potentially be deployed to repurchase stock and could be more financially advantageous than the equivalent expenditure on acquisitions as it would be value accretive, not just earnings enhancing.

Such a strategy, Citi believes, would likely be received positively by the market. This recommendation offers a strategic alternative for QinetiQ in navigating the current financial landscape and enhancing shareholder value amidst market fluctuations.
Posted at 20/11/2023 18:20 by melody9999
Maybe we should announce we have lost a $170M contract and watch the share price rise! Bizarre.
Posted at 12/10/2023 18:53 by wad collector
Must confess I am a bit disappointed by QQ share price performance over last couple of years. There are obvious reasons why the sector is a vital one that justifies priority spending and that QQ is a leading supplier, but the share price has not performed as well as I expected considering the high profile of defence issues in the West.
At least it has held its price unlike most of my holdings...
Posted at 14/8/2023 09:34 by melody9999
1 I don't accept the crtiticism of Wadey selling. He also sold chunks on 220721, 120820, 010719, 210618 so this is not affecting the current share price. But he is certainly well rewarded ....if anyone has details of the 2017 QinetiQ Group plc Incentive Plan (Bonus Banking Plan) easily available, I would be interested to see

2 I am also not sure about contract issues; any material issues would need to be RNS'd. I note the company's trading update of 200723, just 3 weeks ago which references profit:

We have made a positive start to FY24. Order intake has continued to remain strong and we are pleased with our revenue, profit and cash performance. Our visibility on revenue under contract for FY24 has increased to £1.3bn, up from £1.1bn at April 2023. Consequently, we remain confident of delivering in-line with our expectations.

3 I am thinking the current share price weakness in what is a strong defence market could be due to forced redemptions by some hedge funds that are major holders of QQ. stock.

But if anyone else has any thoughts, then that would be of interest as I am considering adding at these levels.
Qinetiq share price data is direct from the London Stock Exchange

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