Bodycote Share Discussion Threads

[mechanical trader] 04/1/2011 17:21

Broker upgrade today..

Bodycote FTSE 250 Industrial buy 350 286.4 22.2% Evolution Securities

SP target 350p, 22.2% upgrade.

[wad collector] 04/1/2011 16:46

2010 2011
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
31-12-10 BUY 46.40 18.30 8.30 67.50 26.60 9.13
Arden Partners
30-12-10 NEUT 41.98 16.20 8.30 52.46 20.20 8.80
Brewin Dolphin
22-12-10 HOLD 41.20 16.20 8.30 53.00 20.90 8.30

[old joe1] 09/12/2010 09:39

Broker BUY update with a share price target of 340p.

07-Dec-10 Bodycote BOY Arbuthnot Securities Buy 278.70p 325.00p 340.00p

[old joe1] 02/12/2010 13:32

Intraday we look like we are about to have hit support and start again on the ladder up.

Its very interesting to see what 2 brokers have recently pencilled in for this going forward.

Bodycote PLC

FORECASTS 2010 2011
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Arbuthnot Securities
01-12-10 BUY 41.20 16.40 8.30 60.50 24.00 9.00

Panmure Gordon
01-12-10 BUY 46.40 18.30 8.30 67.50 26.60 9.13


2010 2011
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 41.69 16.41 8.30 55.12 21.66 8.65
1 Month Change 1.11 0.45 0.00 1.11 0.46 0.00
3 Month Change 5.88 2.36 0.00 6.80 2.70 0.05


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS -72.15% 47.86% 31.99%
DPS 3.75% 0.00% 4.19%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

PER 24.32x 16.45x 12.46x
PEG -0.34f 0.34f 0.39f
Net Asset Value PS 160.23p 230.74p 241.51p

An impressive NAV of 241.51p underpining the stock and a forward P/E of just over 12 for 2011 coupled with 21.66p eps for the same period.

Im looking at this and thinking its too cheap and is a buy.

[old joe1] 02/12/2010 09:39

I like the look of BOY (bodycote)looks like a good trading set up here with a rising trend channel. Manufacturers doing well from figures yesterday aswell.



Longer term chart

[jadeticl] 14/11/2010 17:41

Fallen away somewhat from this surge.

[drectly] 14/10/2010 05:48

Bloomberg

Bodycote Plc rallied 9.1 percent to 301 pence. The supplier of metal-strengthening services said sales in the remainder of the financial year should be stable and it expects annual operating profit at the upper end of the range of analysts' forecasts.

[drectly] 14/10/2010 05:46

from the Inde


Bodycote International

Our view: Buy

Share price: 301p (+25p)

Some good tidings from Bodycote International, the engineering group, which yesterday said full-year profits would be at the top end of analysts' forecasts. The shares duly jumped, continuing an impressive rise over the past year which has seen the stock soaring by more than 60 per cent.

Of course, this is the sort of good news that gets some investors nervous that they may have missed the boat – especially with the order book looking short and visibility about what lies ahead low. Nonetheless, we're pretty impressed and even taking account of the gains, trading on 12.4 times 2011 forecast earnings, the shares sit at a slight discount to the sector. The dividend yield of more than 3 per cent is also healthy compared with rivals.

It's probably the case that the shares are approaching fair value, but we would suggest that there is still some juice left in the tank. So buy.

[wad collector] 13/10/2010 12:23

OOh, it's gone vertical this morning ! I'm finally back in the blue here again.I shall sit on my hands.

[skippy11] 13/10/2010 10:45

bought in on monday,all good so far,very quiet on this thread today after good statement.

[drectly] 07/10/2010 08:47

yesterdays FT discussion

I am hearing that Bodycote could issue a very positive trading statement
Bodycote PLC (BOY:LSE): Last: 271.20, up 15.8 (+6.19%), High: 272.30, Low: 255.10, Volume: 244.43k

so could also be reaction to possible strong trading statement

or it may just turn out to have been a good chance to sell at 280

[drectly] 07/10/2010 08:26

thanks serious
well had to be something, may wish in a day or two we had sold the rumor to be able to buy in for a bit less, but after this long, will wait and see for a bit if anything in it this time.
A lot less shares to buy this time, so at 4, even for a bit less company their total bill would be a lot less. We can hope
Either way it has done very well the last year

[serious] 07/10/2010 06:35

from todays DAILY MAIL.............The temperature was also turned up at perennial bid favourite Bodycote, 18.6p higher
at a year's peak of 274p. The world's largest heat-treatment company responded to
revived gossip that Sulzer is planning to return with a revised knock-out offer of £4 a
share. Bodycote's shareholders still rue the day in April 2007 when the board rejected a 344.5p-a-share bid from the Swiss industrial conglomerate.

[wad collector] 06/10/2010 12:46

Not all positive recommendations;
2010 2011
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Brewin Dolphin
05-10-10 RED 34.60 13.40 8.30 43.90 17.00 8.30
Panmure Gordon
05-10-10 HOLD 40.30 15.90 8.30 58.00 22.80 9.13
Arbuthnot Securities
05-10-10 BUY
Arden Partners
29-09-10 NEUT 40.01 15.40 8.30 49.96 19.20 8.80
Investec Securities
29-09-10 HOLD 37.18 14.63 8.30 47.75 18.78 8.60
The Royal Bank of Scotland NV
27-09-10 HOLD 35.07 13.91 8.30 50.97 19.56 9.00
Altium Securities
03-09-10 HOLD 34.00 13.30 8.30 42.00 16.40 8.30
Evolution Securities Ltd
05-08-10 BUY 34.00 13.40 8.30 47.00 18.50 8.30
FinnCap
29-07-10 BUY 34.10 13.30 8.30 43.30 17.10 8.30
Numis Securities Ltd
29-07-10 HOLD 35.00 14.00 8.30 50.00 20.00 8.70
Milkstone Ltd [A]
15-04-10 HOLD 22.00 8.40 8.30 37.00 13.80 8.30
Nomura Research Institute [A]
29-07-09 RED


So it doesn't seem that is the reason.I am still in the red from 2007 and will continue to hold.

[jadeticl] 06/10/2010 11:25

This thread has not attracted much interest of late, but the share price has been motoring along nevertheless. A gain of 150% in the past 18 months is good by most standards. Is the big rise so far today (more than 6% just now) due to two analysts raising it to BUY with a price tag of 340p? Or what else?

[wad collector] 28/7/2010 10:44

Results out today have not impressed the market down 5%.
They look reasonably good with the usual 2010 caution statement at the end.

BODYCOTE PLC
INTERIM RESULTS
FOR THE SIX MONTHS ENDED 30 JUNE 2010
28 JULY 2010


Financial Highlights
� Revenue increased by 8.1% to GBP246.3m (H1 2009: GBP227.9m)
� Headline operating profit1 of GBP22.5m (H1 2009: loss GBP1.7m)
� Operating profit of GBP22.0m (H1 2009: loss GBP50.8m)
� Basic and diluted earnings per share2 of 7.6p (H1 2009: loss 23.9p)
� Operating cash flow3 of GBP22.5m (H1 2009: GBP14.5m)
� Group net debt at 30 June 2010 of GBP87.5m (30 June 2009: GBP88.7m)
� Annualised ROCE4 at 30 June 2010 of 8.6% (30 June 2009: minus 0.6%)
� Interim dividend per share of 2.95p (H1 2009: 2.95p)
� Interim dividend payment to be brought forward to November from January

Business Highlights

� Aerospace, Defence & Energy:
� Revenues down by 5.6% to GBP98.4m (H1 2009: GBP104.2m)
� Headline operating margin increased to 15.2% (H1 2009: 11.2%)

� Automotive & General Industrial:
� Revenues increased by 19.6% to GBP147.9m (H1 2009: GBP123.7m)
� Headline operating margin increased to 8.9% (H1 2009: minus 8.6%)

� Restructuring programme nearing completion:
� Annualised cost savings now GBP44.5m which is higher than previously
expected (2009: GBP43.0m)
� Headline operating margin increased to 9.1% (H1 2009: minus 0.7%)

Strategic Progress
� Targeted market approach of the new divisions is delivering market share
gains
� Special focus proprietary technology business units are gaining traction
� Operational improvement programme and selective capital spending regime
are increasing profitability and cash generation

[wad collector] 26/7/2010 09:06

Glad I ignored IC - 2yr high today.

[wad collector] 13/7/2010 16:19

I.C. was dissing Bodycote last week claiming high price relative to sector and poor growth prospects.Hmmm...

[wad collector] 09/7/2010 11:00

Oops,that's what that button does.

[wad collector] 09/7/2010 11:00

Good to see a positive update.I guess these probably aren't going going skywards with a current yield of 3.9% and £54m loss last year , but I'll settle for a bit of movement out of the cellar.

[broadwood] 09/7/2010 10:17

Its these words that'll keep the price heading skywards.


Against this backdrop, if current levels of demand are sustained and allowing
for normal seasonal differences between the first and second half, the Board
now expects that headline operating profit for the year will be significantly
above the top of the current range1 of full year forecasts.

[broadwood] 09/7/2010 09:08

Blimey - up nearly 10% already.

[broadwood] 09/7/2010 08:56

Questor wrong again then.

[drectly] 27/4/2010 08:52

which ones give it a mention, movement still looks similar to IMI / the sector
Questor normally worth a read, but also question their logic of BOY sell at 205 and a buy for IMI, lets hope they continue to be wrong for a bit