||EPS - Basic
||Market Cap (m)
|Construction & Materials
Billington Share Discussion Threads
Showing 226 to 250 of 250 messages
|I think institutions know about BILN but smaller size & illiquidity mean they're not interested, and that is why it is valued so cheaply. However as the co generates cash and grows those earnings will ultimately be reflected in dividends and share price appreciation ..patience pays|
|I will hold till the next results and review. I suspect Sev made some useful connections when promoting their 'rescue' rights issue and the institutions are fully engaged. Maybe they don't know about BILN?!|
|Lots of reasons for the difference not to mention size, patience will reward imv.|
|Having a dig at the relative performance of the two shares. It seems like one management team promotes the company with visits to institutions/capital markets days whilst the other...On a more serious level the point made by MRF is worthy of thought.
I bought some of these on a revival of structural steel activity -clearly bought the wrong share.|
|What are you on about?|
|It looks like Sev are eating Biln's lunch whilst the Biln management are dozing in the sun.|
|A company with the sort of ownership and sharestructue as here never trades very high|
my retirement fund
|I had a tiny residual position left over from the Amco days when Lenny Licht was involved. Added to it recently but am wary due to liquidity and cyclicality. Agreed it is relatively cheap but does not have SFRs market position. Am also watching London resi and office slowdown with a little apprehension. Go carefully boys and girls|
|Thanks sailing john. Yes, missed out here previously & thought it was one that had simply got away from me. The pull back in BILN's shares offered too good an opportunity to resist.
Funnily enough, I'd just finished posting a similar chart comparison between SFR & BILN on twitter. Quite a divergence!
|GHF - Welcome to BILN! - Surprised you weren't already in this - all the usual value investors appear to be here. Not easy to build a decent position - I only managed to buy volume when EBT were selling. (this is currently my second largest position!)
By my calculations Billington on a PE roughly half that of Severfield
And you are correct to highlight the recent shareprice divergence of BILN and SFR
|Yes but if you were the BILN management you might want to think a little about why you are not achieving market traction yet Sev is? One reason is that Sev management promote the company. They go to see fund managers to explain the story and host open capital markets days so investors can see what is going on. That can only take you so far but it might be something to mull over as this performance differential is becoming embarrassing.|
I've been having a nibble here over recent sessions. Didn't realise it would be so illiquid.
BILN's shares are down (-20%) in the last 12 months, despite considerable progress in the period and upbeat t/s last week. While some PIs were disappointed by lack of a further "ahead" statement - WH Ireland raised earnings forecasts by (+26%) during 2016 - confirmation that they would achieve these upgraded expectation was fine with me & allowed the opportunity to pick up stock from those exiting.
The divergence in share price between BILN & peer SFR has also magnified over recent months. Since mid-September 2016 BILN's share price has fallen back by (-14%) while SFR's share price has risen by (+43%).
WH Ireland issued a short update on Friday (10th Feb) that intimated,
"Billington has this morning released a robust trading update, confirming that results for the year to 31 December 2016 are anticipated to be in line with expectations.
Importantly, excellent progress has been made at the new Shafton facility and all of the businesses are reported to have continued to perform well. A number of high profile projects were successfully completed in the year, including the Greenwich Peninsula Energy Centre.
We view this morning's announcement positively, particularly against the context of our earnings estimates having been raised by c.26% during the course of 2016. On the back of the update, we leave our forecasts unchanged (FY 2016E PBT £3.5m/EPS 23.8p, FY 2017E PBT £3.6m, EPS 24.1p). With the shares trading on a current year PER of 10.1x (a c.25% discount to Severfield), we continue to see considerable upside to current levels and maintain both our Buy recommendation and 340p share price target.
At a market cap of £31m & Enterprise Value of £27.5m they look decent value on a PER of 10 while offering a 2.8% yield.
Fingers crossed some of the SFR magic rubs off on the BILN share price.
|Last years payment was 6p , so I'd expect an uplift on that so c. 3.8%|
|Anyone got a figure for the divi yield? Thanks|
|Looks like someone is selling 10,000 again at the 230 mark, could be John Gordon the chairman who let the same amount go a few weeks ago at 2.25?|
|Its one of those days! Yes 'net debt' -£3.6m|
|At the Interims they had £6.24m of cash and cash equivalents , I'm guessing your figure includes netting off the Shafton mortgage?|
|If adjusted for £3.6m cash I have this on a 2017 P/E of x 8.8|
Extract From the tu 29/7/16
The Group's performance has continued to improve during the first half of 2016 and the order book has continued to strengthen, providing good visibility beyond the end of the current financial year.
But your right other tu omit the detail!|
|just edited the above as I had the dates the wrong way around.|
|steelwatch- I cannot see a Trading Update for year end 2015 (2016) but for 2014 (2015) year end TU (ahead of market expectations)they also kept information to a minimum without mentioning workload or forward order book, so I do not think we can read too much into that.
''The Group's performance continued to improve in the second half of the 2014 financial year and, as a result, Billington will report results ahead of current market expectations.''
However, I do note that 'interim' Trading Updates do usually include such information.|
|Whilst generally optimistic about 2016 results, the disappointing thing about this statement is that there is not a word on current workloads or forward order book. Whereas previous trading statements generally provide a guide.
Hopefully they are waiting for some projects to be placed before updating the market.
Judging by the construction press there seems to be plenty of work out there at the moment. With this new youthful management team in place they should be able to get their share.|
|Hi Interceptor2, thx for posting, I must admit I was also expecting an ahead of market expectations TU but my guess is mgt are mega conservative and just provisioning away like mad to provide money up the chimney for a rainy day! The Shafton transaction alone gives them loads of room for manoeuvre in providing for everything that they can get past the auditors..
I'm sure this'll do well from here|
|Hands up, for clarity I did sell my holding here at the open, after the last statement which I highlighted in post 199, I was expecting an exceeding update here.
There is nothing wrong with today's update which was in line with hints of satisfaction with current trading, so I would think that the share price should reward patient holders here in the future.
I wish more patient holders than myself good luck and would be happy to see you all enjoy a good return.|