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RNWH Renew Holdings Plc

924.00
6.00 (0.65%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Renew Holdings Plc LSE:RNWH London Ordinary Share GB0005359004 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  6.00 0.65% 924.00 178,925 16:35:21
Bid Price Offer Price High Price Low Price Open Price
929.00 933.00 934.00 915.00 925.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gen Contractor-oth Residentl 921.55M 43.38M 0.5482 17.00 737.53M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:58:22 O 11 915.00 GBX

Renew (RNWH) Latest News

Renew (RNWH) Discussions and Chat

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Trade Time Trade Price Trade Size Trade Value Trade Type
17:58:41915.0011100.65O
17:58:33923.063242,990.70O
17:51:42922.09655.33O
17:39:33923.996,98064,494.50O
17:34:12931.473202,980.69O

Renew (RNWH) Top Chat Posts

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Posted at 28/3/2024 08:20 by Renew Daily Update
Renew Holdings Plc is listed in the Gen Contractor-oth Residentl sector of the London Stock Exchange with ticker RNWH. The last closing price for Renew was 918p.
Renew currently has 79,133,889 shares in issue. The market capitalisation of Renew is £737,527,845.
Renew has a price to earnings ratio (PE ratio) of 17.00.
This morning RNWH shares opened at 925p
Posted at 11/3/2024 09:16 by rivaldo
Likely good news for RNWH today (particularly its J Browne and Enisca subsidiaries)....



"Extra £180m of water spending to prevent sewage spills

The government has fast-tracked investment of £180m over the next 12 months in a bid to prevent more than 8,000 sewage spills polluting English waterways.

The new funding commitments are in addition to water companies’ existing £3.1bn investment into storm overflow improvements for this price review period (2020-2025), as well as their ongoing annual investment to maintain the performance of the existing network.

Examples of measures include accelerated wetland construction programmes, investment in AI systems to help manage storm loads, the installation of thousands of new in-sewer monitors to check flows and spot blockages early and the recruitment and training of specialist staff.

Environment Secretary Steve Barclay said: “The amount of sewage being spilled into our rivers is completely unacceptable and the public rightly expects action.

“This £180 million of accelerated investment, which will stop more than 8,000 sewage spills over the next year, is a welcome step forward as we continue to push for better performance from water companies and hold them to account.”
Posted at 05/3/2024 08:49 by rivaldo
Siemens are a client of RNWH's, and the UK's transition to digital signalling has long been flagged up as a big opportunity by RNWH in presentations - it was a prime reason for buying Giffen.

For example, even back in 2019 RNWH noted that the Government had awarded £450m to digital signalling in the National Productivity Investment Fund.

So it's encouraging to read in today's news that Siemens are now building a new £100m signalling factory in Chippenham:
Posted at 07/2/2024 09:31 by rivaldo
Fundamental Asset Management hold RNWH in their portfolio, and their fund manager is very positive about RNWH in this new podcast - listen from around 15 minutes in:



Also, it's relevant to see a rail recruitment industry specialist who works with RNWH's AMCO having a record results year and being similarly bullish:



"Coleman James partners with SMEs and PLCs in the rail industry, including AmcoGiffen (part of Renew Holdings PLC), VolkerRail, Motion Rail and RES Group.

"Much of our growth is aligned to recruiting personnel to fulfil CP6 infrastructure projects, particularly for Tier 1 and Tier 2 contractors," explained Andrew Mackay, Managing Director at Coleman James.

"We’ve built successful, long-term partnerships with SMEs, owner-led businesses and Plcs, particularly across telecoms, civils and signalling. For our next phase of growth, we’ll be targeting infrastructure companies on the CP7 framework as well as major projects across the rail industry, who share our commitment to deliver quality and value, through sustainable recruitment strategies."
Posted at 19/12/2023 10:44 by rivaldo
As promised, a few more details on Numis' update note. They say Buy and raise their target price to 950p.

They conclude interestingly that RNWH's "financial characteristics and track record" increasingly look like UK services value providers rather than outsourcers and contractors, and RNWH trade at a 30% discount to the former.

They see the current £35.7m cash pile increasing to £57m by next September, enabling further acquisitions.

Their EPS forecast - as always! - is incredibly conservative for this year at 63.6p (up from 63.3p EPS last year), but once again this leaves room for plenty of upgrades during the year.

A few snippets:

"Resilience and differentiation

Renew delivered record FY23 results in line with or slightly ahead of our upgraded expectations, a testament to the resilience of the business model and differentiated offer even amidst challenging macro conditions. With the Group having made a strong start to FY24E we upgrade FY24-25E EBITA by 5-7%, continuing the track record of positive earnings momentum. This, allied to a strong balance sheet offering ample scope for further value and capability-enhancing M&A, means we
remain enthused despite the strong recent share price performance. We increase our PT to 950p (10.5x FY24E EV/EBITA) and retain a BUY."

"Collaboration benefits:

As outlined at the FY22 and 1H23 Results, collaboration between operating companies is helping the Group access framework opportunities that were historically out of reach, contributing to the strong organic growth delivered in the period. We think
collaboration is a key competitive differentiator for Renew, and could help sustain above-market organic growth in future years."

"Maintenance and renewal over enhancements:

The statement notes that in a weak macro backdrop the Government is often prioritising investment in maintenance and renewal of existing infrastructure, rather than large-scale enhancement projects. We think this plays into Renew's strengths in both the short term, and longer term (as ageing infrastructure requires greater spend on renewal and maintenance)."
Posted at 29/11/2023 08:37 by harrogate
A very solid set of results and the share price recovery fully deserved. It was disappointing to see the net margin reduced from 6.9% to 6.6% and forecasts don't show it recovering. We now sit at the 5 year average PE of 12 and with Numis showing EPS flat for FY24 at 63.6p EPS due to a higher tax charge, I still don't see what will shift us to a higher rating. The dividend at under 30% of EPS seems miserly and that is not helping. It is to be hoped that this hoarding of the cash is because they have an eye on a significant deal that will give a step change in EPS. With the £80m facility they put in place a year ago they have the firepower for something sizeable. That would put some momentum behind the share price.
I don't know if it really makes a difference but their communication with PIs is shocking. A nice presentation to view on line but almost all companies of this size are doing IMC or similar presentations where we can ask some questions and hear what management have got to say.
A strong hold for sure as almost zero chance of missing their numbers
Posted at 03/10/2023 07:14 by rivaldo
Agreed rimau. I've already addressed Harrogate about this before, so will repeat my prior post as they render his point about EPS forecasts completely redundant.

Forget the conservative broker forecasts going forward - they've always been irrelevant in the past and they will likely continue to be so.

For newbies, I repeat....In Jan'17 the forecast to Sept'19 was 35.8p EPS. RNWH achieved 40.5p EPS.

In Jan'18 the forecast to Sept'20 was 37.9p EPS. RNWH achieved 40.9p EPS - even with six months of Covid! Prior to that RNWH beat forecasts from earlier years in each of 2016, 2017 and 2018.

Since then EPS has grown from 40.5p EPS to Sept'19 to 59.3p EPS to Sept'22 - almost 50% in 3 years, always beating broker forecasts. And that's with Covid.

- so it's best to ignore forward broker forecasts, which are evidently and traditionally conservative not only in terms of organic growth but also because they (rightly) exclude potential earnings-enhancing acquisitions
- the perception of RNWH is shifting to a more exciting proposition with high visibility of future income, yet also involvement in multiple long term growth sectors and much less contract risk than other sector comparators
- institutions love companies which consistently outperform and have high security of income. Thus over time RNWH should benefit from a double whammy of outperforming or at least meeting conservative forecasts and a re-rating from the current multiple to one more befitting of RNWH's record, i.e imo around 15-16.

And to update regarding this year to Sept'23, we now know that RNWH have yet again beaten forecasts.

In Oct'22 Numis were forecasting 55.4p EPS for the year to Sept'23. It's now likely that RNWH will have achieved between 63p-65p EPS. Another significant outperformance.

The various analysts covering RNWH have converged around a price target of 900p-950p. I see no reason why the share price shouldn't move towards this from here, with further upside from acquisitions and/or trading statements.
Posted at 13/6/2023 09:45 by rivaldo
Once again, forget the conservative broker forecasts going forward - they've always been irrelevant in the past and they will likely continue to be so.

For newbies, I repeat....In Jan'17 the forecast to Sept'19 was 35.8p EPS. RNWH achieved 40.5p EPS.

In Jan'18 the forecast to Sept'20 was 37.9p EPS. RNWH achieved 40.9p EPS - even with six months of Covid! Prior to that RNWH beat forecasts from earlier years in each of 2016, 2017 and 2018.

Since then EPS has grown from 40.5p EPS to Sept'19 to 59.3p EPS last year - almost 50% in 3 years, always beating broker forecasts. And that's with Covid.

- so it's best to ignore forward broker forecasts, which are evidently and traditionally conservative not only in terms of organic growth but also because they (rightly) exclude potential earnings-enhancing acquisitions
- the perception of RNWH is shifting to a more exciting proposition with high visibility of future income, yet also involvement in multiple long term growth sectors and much less contract risk than other sector comparators
- institutions love companies which consistently outperform and have high security of income. Thus over time RNWH should benefit from a double whammy of outperforming or at least meeting conservative forecasts and a re-rating from the current multiple to one more befitting of RNWH's record, i.e imo around 15-16.

The various analysts covering RNWH have converged around a price target of 900p-950p. I see no reason why the share price shouldn't move towards this from here, with further upside from acquisitions and/or trading statements.
Posted at 17/5/2023 07:57 by rivaldo
There are many things to say about that post :o))

- back in December'20 the forecast to Sept'22 was for 45.4p EPS. RNWH actually achieved 59.3p EPS - beating that forecast by a whopping 30%
- similarly, back in Sept'20 the forecast to Sept'21 was for 40.8p EPS. RNWH actually achieved 50.1p EPS
- so it's best to ignore the broker forecasts, which are evidently and traditionally conservative not only in terms of organic growth but also because they (rightly) exclude potential earnings-enhancing acquisitions
- the perception of RNWH is shifting to a more exciting proposition with high visibility of future income, yet also involvement in multiple long term growth sectors and much less contract risk than other sector comparators
- institutions love companies which consistently outperform and have high security of income. Thus over time RNWH should benefit from a double whammy of outperforming or at least meeting conservative forecasts and a re-rating from the current multiple to one more befitting of RNWH's record, i.e imo around 15-16.

The analysts covering RNWH have converged around a price target of 900p-950p. I see no reason why the share price shouldn't move towards this from here, with further upside from acquisitions and/or trading statements.
Posted at 12/4/2023 21:23 by wfcreserves
@rivaldo
Yes the placing rewarded the placees who if I recall were a few selected institutions and directors. Shareholders who bought prior to the deal paid a higher price than they needed to. Luckily for those who held the deal worked well and the share price didn’t take too long to recover.

I agree that the interims should be good but the market knows that too and the share price is struggling to get back above £7. I still believe that the dividend yield is holding the share price back in a time of inflation and money being tight.

From a previous post I guess that you are not an ISA investor? But not everyone will want to sell their shares to crystallise a gain taxed as a capital gain and ISA investors have no need to worry about tax differentials.
Posted at 05/4/2023 14:57 by lammylover
RNWH share price being deliberately held below 700p to shake out loose shares. Up at 5% earlier, before ATs really kicked in, to drive price down yet again..

I'm expecting 700p to be breached soon..
Renew share price data is direct from the London Stock Exchange

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