Share Name Share Symbol Market Type Share ISIN Share Description
Interserve LSE:IRV London Ordinary Share GB0001528156 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -6.00p -1.76% 335.25p 335.25p 335.75p 344.00p 326.25p 344.00p 752,042.00 16:29:50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 3,628.9 79.5 47.5 7.1 484.18

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Date Time Title Posts
19/2/201716:27Interserve - Awaiting A Recovery3,895.00
04/8/201608:30Interserve with Charts & News287.00
01/6/200914:12Interserve - Moves up on further consideration of good trading statement129.00
28/7/200811:06IPSL just another contractor?6.00

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Interserve Daily Update: Interserve is listed in the Support Services sector of the London Stock Exchange with ticker IRV. The last closing price for Interserve was 341.25p.
Interserve has a 4 week average price of 334.25p and a 12 week average price of 327.14p.
The 1 year high share price is 462.60p while the 1 year low share price is currently 214.75p.
There are currently 144,424,260 shares in issue and the average daily traded volume is 487,320 shares. The market capitalisation of Interserve is £484,182,331.65.
ridicule: edmundshaw Agree, and the rise today was likely given the TU, particularly the improved cashflow statement which should underpin the dividend. My point is that, because the Local Authority terminated the waste contract, it would have been nice to see a statement saying there was no further legal action expected. If this had been said(maybe not possible because there is a threat of further action) the share price would have soared.
finkie: golden rule here surely as with other similar companies you wait until the new CEO is in who clears the decks of legacy issues puts all the bad news out there share price tanks he is on some juicy options and then makes a load of cash in 36 months as the options are priced low....
jeffian: Richard, I always think that Director shareholdings are meaningless in a company of this size. Any Director purchases are just window-dressing and when I see a lot of Directors buying together, it tends to have a negative impact on me as I assume they are trying to puff the share price or indicate confidence when trading is difficult! Anyway, most large companies have Incentive Plans that give Directors shedloads of shares for free so there is little incentive to go out and buy any in the market. IRV is no exception. On top of 'basic salary', Directors get a variable cash bonus, half of which must be spent on shares in the company and those shares held for a minimum of 3 years. On top of that, they have an Incentive Plan which gives them nil-cost options over loads more. I think most Directors treat it as general 'remuneration' rather than investment; you get given some shares, you sell them when you can, you get given some more!
edmundshaw: Anyway, whatever you think about Adrian leaving (I think it's a shame but no disaster), the company is in pretty good shape and 68p earnings hardly merits a share price under £4.
edmundshaw: The main target: Double headline EPS over the five years to 2015. In 2010 headline earnings were 42.8p (down from 49.7p, so a convenient starting point); in 2015 we got 67.9p. Good progress, and (from my investment starting point in 2011) good share price upside. But not a doubling to 85.6p. I have a long memory :)
jeffian: Only just seen the RNS. Not only is the timing a bit strange but the departure of Adrian Ringrose is a huge issue. To many people, he IS Interserve and has been at the heart of its growth both organically and by acquisition. He's still a relatively young man and I don't buy this "next phase of his career" stuff. He's either carrying the can for the Waste disposal fiasco or there's some fundamental difference between him and the Board about future direction. Wouldn't be surprised if the share price reacted badly when the news has sunk in.
haywards26: I think the news was known by certain people on Friday when you see the share price movements.. Got my top up this morning..
jeffian: The metric for deciding the appropriate level of dividend should be dividend cover, not 'appropriate yield on share price'. On historic 2015 year figures, the divi was covered nearly 3x so, even taking account of the recent contract hit, it seems unlikely that the divi is unaffordable. The trouble with the other argument is that it is the market that decides the yield, not the Board. Famously, some years ago when Aviva was called Norwich Union, it did just what you said and "rebased" (i.e. cut) its dividend to "bring the yield in line with its peer group". So they halved the divi........and the market promptly halved its share price! Lower divi, lower share price, same yield.
edmundshaw: Hard to know when it starts and stops as (a) different funds will time their exit differently to avoid killing the share price or getting a killed share price - exit timing also will depend on the rules of the fund; and (b) ther will be those trying to take advantage of the forced selling - you don't need to be a hedgie to see the possibilities there... I tried timing my buys on shares (in companies I knew) exiting or entering higher indices around 10 years ago. The simple way was to sell well in advance of a drop and buy back when you like the price, or vice versa, rather than trying to time the thing too closely. Of course fund managers may be more clever now (though I doubt it), or e-trading might have an impact, I am likely out of date. It's a bit late for safely selling with a view to buying back cheaper, though maybe still possible. Timing for buying is more of an open question...
Interserve share price data is direct from the London Stock Exchange
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