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GMS Gulf Marine Services Plc

20.00
0.00 (0.00%)
19 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Gulf Marine Services Plc LSE:GMS London Ordinary Share GB00BJVWTM27 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.00% 20.00 0.00 00:00:00
Bid Price Offer Price High Price Low Price Open Price
19.90 20.10
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Ship Building And Repairing USD 133.16M USD 25.33M USD 0.0249 8.03 203.28M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:44:00 O 207,385 20.64 GBX

Gulf Marine Services (GMS) Latest News

Gulf Marine Services (GMS) Discussions and Chat

Gulf Marine Services Forums and Chat

Date Time Title Posts
18/3/202415:16Gulf Marine Services plc2,304
14/10/201615:51gold mines of sardinia1
28/4/200922:09GOLD MINES OF SARDINIA - Agreement Finalised19

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Gulf Marine Services (GMS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
07:15:4420.64207,38542,804.26O
07:15:0420.002,965593.00O
2024-03-18 17:19:4920.00200,00040,000.00O
2024-03-18 17:15:0020.60500,000103,000.00O
2024-03-18 17:15:0020.40250,00051,000.00O

Gulf Marine Services (GMS) Top Chat Posts

Top Posts
Posted at 18/3/2024 08:20 by Gulf Marine Services Daily Update
Gulf Marine Services Plc is listed in the Ship Building And Repairing sector of the London Stock Exchange with ticker GMS. The last closing price for Gulf Marine Services was 20p.
Gulf Marine Services currently has 1,016,415,000 shares in issue. The market capitalisation of Gulf Marine Services is £204,299,415.
Gulf Marine Services has a price to earnings ratio (PE ratio) of 8.07.
This morning GMS shares opened at -
Posted at 18/3/2024 06:58 by catsick
Interesting if you google simon thompson gms there us a free ic alpha report you can download on gms, 6 months ago simon was targeting 20p when it was at 9p ,I guess the latest target much higher....
Posted at 15/3/2024 16:45 by premium beeks
Price hike in auction and some chunky trades!Massively bought up today.
Posted at 15/3/2024 16:34 by blusteradjuster
Richtea,

Unless the operational story changes, there's no obvious reason that 5 won't become 6,7, ... as the perceived value continues to move from debt to equity (and that value continues to climb as perceived risk fades).

The final results (24th April last year) should hopefully include more insight into the BoDs attitude wrt debt-reduction/dividends/buybacks.

The switch to quarterly reporting might add a little confidence/attention but the relentless run-up in price since late June 2023 suggests it won't make a lot of difference.
Posted at 12/3/2024 13:49 by wigwammer
I suspect it tells you rather a lot about the cost of entry. If you want to compete with GMS by building a comparable fleet - the book value plus net debt is round about the cost. Far cheaper to buy GMS at a material discount to book than the organic alternative.
Posted at 28/2/2024 19:17 by hpcg
At one point in 2022 I started to map out contracts per rig but that was too much work when the revenue and share price started moving anyway (with some named some not it was logic puzzle). I would think 2024 must be near enough booked, at least in the Gulf.
Posted at 25/1/2024 12:36 by hpcg
I have a new NAV based share price target for end 2026 of 46p. WEeshould see some more impairment write backs that cancel out depreciation and significant (to say the least) debt repayments. That is using, for simplicity as much as anything, the current 13.58% discount rate used by the company. That is a reasonable/conservative 1xNAV. I don't think the 2023 accounts will change impairment. Contract rates are up, but so are interest rates, but cost of capital has not gone up as much as the financial stability of the company has improved.

Impairments to be reversed amount to a net of approx $119mn and depreciation is approx $25mn per year so I think there is scope for these to cancel each other out.
Posted at 15/1/2024 17:33 by hpcg
I do believe the poster Mr Mattau on London South East has the answer:



I'll be buying tomorrow at the open if the price is anywhere near to the close. I did look for anything happening with respect to the GMS listed in the US, but it was always a long shot with the market closed today and it being in building materials. I find it unbelievable that people can have money in the stock market and not even know the name of the company they invest in.

GMS vessels never go over the median line into Iranian waters. I mean, almost everyone apart from Iranian vessels won't stray over the median line.
Posted at 11/11/2023 11:15 by hpcg
xxx - I've not seen the report directly so I don't know. I've corrected the link - the closing bracket had become integrated. As I said, as at June, and I presume later, Praetorian Capital has no GMS holding. I mention them because many investors are familiar with Kuppy and his approach, and he has be vocal about offshore oil services. Their big holding in the space is Valaris.

The GMS share price really took off after an offshore conference in Sweden where more or less all the operators said they were not going to build any more kit. What people not familiar with the industry might not know is that the cyclicality is not caused directly by the oil price, but as a derivative of the oil price cycle. After a few years of strong oil prices service providers will have rebuilt their balance sheets and oil companies will sign up long term lucrative contracts to secure the equipment they need. At that point service providers draw a straight line upward pointing line on demand and choose to massively expand their fleets using debt. This leads to an horrific and long lasting trough when oil prices turn over and oil companies draw in their budgets. If no one falls into this trap, or for that matter financiers just aren't interested then there is nicely balanced supply and demand which is resulting in stable cash flows with good visibility. Rates should keep up with inflation, margins should be maintained which leads to wads of free cash to pay down debt and in 2-3 years make returns to shareholders.

Of course there is some far out longevity in terms of servicing offshore wind farms, but market dynamics there do not allow for boom-bust cycles so fleet sizes should very much remain balanced.
Posted at 19/7/2021 12:57 by mudbath
The Executive Chairman commented on June 30th 2021 :-

"The Company's performance is underpinned by positive market conditions, supporting utilisation, contracted activity...(all 13 vessels in our fleet are all under contract which is something we haven't seen since 2016 and is a very good indicator of an improving market. The 23-month contract award for the E-Class vessel was at rates significantly higher than we have seen in recent times and we would expect improvement in day rates to continue as the supply/demand dynamics improve in our favour)....the pipeline of opportunities and day rates. It is also supported by the actions taken by the Board to actively manage costs, improve operational efficiencies, and put in place an improved capital structure, which will benefit the Company's near and long-term prospects. Combined, this all serves to reset the GMS story, driving benefits for the Company, its employees, contractors, partners and investors."

Just how long will the GMS share price dally in this very low 3p arena ?
Posted at 07/7/2021 12:34 by mudbath
A steady climb in the GMS share price looks to be underway and possibly gaining some momentum.
A buy(and a half)at these low levels despite the known risks.
Gulf Marine Services share price data is direct from the London Stock Exchange

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