||EPS - Basic
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Castings Share Discussion Threads
Showing 251 to 272 of 275 messages
|On the move.|
I'm just delighted to get the cash return , it just struck me as illogical to hold so much surplus cash when there was no clear need to do so or plan for acquisitions. I'd also be surprised if Brian Cooke wasted too much time perusing BB's and I'd not had the the chance to discuss the topic with the directors face to face.
For the future I believe a precedent has been set and believe this will be part of the investment case going forward if the business continues to trade well.
|It looks like Cookie has been listening to you rhomboid.|
|Delighted with the cash return and the steady progress, I've a good size position and intend to hold for long term income growth.|
|In summary we have a warning of a temporary lowering year profits for CNC speedwell, due to the ending of one contract balanced against a special dividend of 30p, a raise in the ordinary divi. There's continuation of development for the company. A neutral - positive outlook generally balanced with un-certainty regarding Europe. Europe is of course the elephant in the room here although the commentary is perhaps a little indifferent from Mr Cooke who of course has seen it all in his time:-
"It is also important that, whatever the result of the EU referendum, the Government return to the priority of focussing on the economy and recognising the important role of manufacturing in achieving higher levels of employment to the benefit of the country as a whole.
As usual the financial analysis is rock solid and we even have a trickle of Icelandic monies coming back into the pot.
A long-term hold for me.|
|rhomboid - Regarding your Brexit comment,two thirds of revenues are from exports and most of that is into Europe.
Turnover by Region:
UK – 33%
Sweden – 24%
Netherlands – 11%
Rest of Europe – 27%
N&S America – 3%
Other - 2%
Turnover by Product:
Foundry – 86%
Machining – 14%
An exit from Europe might cause some short-term damage to revenues if Brussels threw a strop but this is a high quality company with rock solid fundamentals and could I expect ride out any initial headwinds. In contrast to this they have long-term supply relationships with global blue chip customers (Scania) and are integrated into their customers' product development processes and on balance I'd expect a weaker pound to outweigh any short-term setback over trading arrangements post exit. I'll be staying invested whatever the outcome of the referendum.|
|Thx for the very comprehensive reply Jacks13
I love the conservative approach but at what point does it become inequitable to the equity holders?
My view is that it seems wrong for EPS CAGR to be more than double that of dividend growth when the balance sheet is this cash rich, if they can't find a way of utilising surplus capital at acceptable levels of return then they should consider a cash return via buyback or tender offer or at the very least accelerate the rate of dividend growth. All IMHO of course.
Personally I'd love them to find an appropriate use for their excess liquidity but just piling it up on the balance sheet makes little sense beyond a certain point.
On another matter £weakness on Brexit should help them significantly.
|I hold a chunk here and have only just got round to checking out this Board, has anyone had contact with Brian Cooke or Castings to discuss how they view the level of cash and whether at some point it might in part find its way to the owners of the business?
£32m is a heck of a rainy day contingency fund !
Yes I hold, but not a huge position.
|We all get it wrong wipo.Who knows what stage of the cycle we are in.
Looking strong now.|
|Red I guess I should have bought the dip on results day. Oh well always another day another share. Good luck if you're holding.|
Price is relative and you could well get in lower. In this market nobody can predict the bottom with any degree of certainty.
|Good results and good company but I agree with the Motley fool article that states it's a good buy lower down due to Castings being a cyclical company.|
|I like all of the positive comments.
The Cookemeister continues to rule Ok.|
|I could be wrong but I think this may have been a record H1 in terms of EPS performance at 17.44p. As stated in the narrative, volume increases ran ahead of revenue due to softness in raw material prices.|
|I'm one of them also! Worth noting that RSP's willing to pay well above Bid to get stock. ie 455.8 as opposed to 451.75 so there is underlying support.|
Thanks for the detail.
Wow Cgs has more than four small private shareholders!
|If you read the results from the bottom you won't miss the bit where the pension fund are paying back some of the surplus to the company. Note the £5.7m receivables line in the B/S.|
I am getting quite worn out keeping up with the avalanche of posts on this board today.
Sleeping 'giant' waking up?
|Punters like to see flowery statements but this lot don't do that.Anyway it gives others a buying opportunity.|
|A veritable wall of early sellers. Why? Must be nuts!|
|They certainly don't blow their own trumpet but they are good results.|