Johnson Matthey Share Discussion Threads

[malcontent] 21/11/2013 10:15

Hmmm they always talk about the "efficient market". So somebody, somewhere pushes the price up again sharply and likes what they see.

Ever get the feeling that there is information out there in the world of investing that isn't obvious to the private investor?

Ever get the feeling that this shouldn't surprise anyone?

[nosob sggih] 21/11/2013 09:52

is the flat second half an upgrade?

[nosob sggih] 21/11/2013 09:44

PE 20, yield 2%. surely very expensive for a cyclical

[nosob sggih] 21/11/2013 09:42

isn't that just the management hype. guidance is for flat second half. why are the shares up at record highs?

[miata] 21/11/2013 09:27

Strong performance. Dividend up 10% to 17.0 pence and this will be paid on 4th February 2014, with an ex-dividend date of 27th November 2013.

JMAT posted a 13 percent rise in first-half profit, helped by increased global production of cars and trucks and demand for its speciality catalysts.

Underlying profit before tax totalled 212.9 million pounds for the six months to the end of September, up from a restated 187.9 million for the year-ago period.

[nosob sggih] 21/11/2013 08:36

flat second half. boring. why are the shares up?

[steeplejack] 21/11/2013 07:49

The group's results in the first half of the year exceeded our expectations. In the second half, the group's long standing arrangements with Anglo American Platinum Limited (Anglo Platinum) will expire on 31(st) December 2013 and this will impact profitability in the fourth quarter. At the same time we should benefit from tighter European truck legislation but it is difficult to assess the extent of the pre-buy in the first half and its effect on volumes in the second half. We therefore expect that if the impact of the loss of the Anglo Platinum contracts is excluded, Johnson Matthey's performance in the second half will be in line with that of the first six months."

[leeson31] 21/11/2013 07:31

half yearly report@ amazing!

21 November 2013

For Release at 7.00 am Thursday 21(st) November 2013

Half year results for the six months ended

30(th) September 2013

Strong Performance in the First Half:


Half Year to 30(th) September %
2013 2012 change
restated

Revenue GBP6,411m GBP4,892m +31
Sales excluding precious
metals GBP1,486m GBP1,310m +13
Profit before tax GBP202.1m GBP180.1m +12
Earnings per share 86.0p 69.2p +24
Underlying*:
Profit before tax GBP212.9m GBP187.9m +13
Earnings per share 84.9p 71.7p +18
Dividend per share 17.0p 15.5p +10
---------------------------------- ------------ ------------ -----------



*before amortisation of acquired intangibles, major impairment and restructuring charges, profit or loss on disposal of businesses, significant tax rate changes and, where relevant, related tax effects

Summary

-- A strong first half with:
-- Sales excluding precious metals (sales) 13% ahead at GBP1.5 billion
-- Underlying profit before tax 13% ahead
-- Underlying earnings per share up 18%
-- Return on invested capital (ROIC) at 21.0%

[nosob sggih] 20/11/2013 20:33

there must surely be some massive earnings upgrades coming to justify the share price at this level

[broadwood] 20/11/2013 19:51

Results tomorrow.

[enami] 14/11/2013 15:52

Yes looks likely to finish below CP.

50MA next target 2924.

[leeson31] 14/11/2013 15:17

yeah I saw that on the beaufort site this morning.

ive just closed for a loss, im thinking now, although it made the ATH its failing now...

cheers

[enami] 14/11/2013 15:15

Credit Suisse Reiterates Neutral Target 2,900

[broadwood] 06/11/2013 12:10

They all have to report on the same basis required by the LSE.

Interim results were 21 November last year.

[nosob sggih] 14/10/2013 17:42

imo JMAT has too few trading updates for a FTSE company. the last trading news was in july. so it seems the market believes JPMC knows something it doesnt

[nosob sggih] 14/10/2013 17:34

they are the company's broker. how can you trust them?

[miata] 14/10/2013 17:10

JP Morgan Cazenove upgrade from Neutral to OW, Price Target £40.

For the first time in years we are above consensus, +2% next year, +6% the year after. Main swing factor is the Process Technologies division which manufactures catalysts to serve the Asian and North American petrochemical industry – we expect his division (which is already 22% of earnings) to grow at 13/14%.

On the auto side, we believe consensus is well underpinned after detailed work with the Cap Goods and Autos Research Teams.

Next catalyst will be H1 results on Nov 21st (we expect strong results) and Capital Markets Day in January (we expect them to be bullish on Process Technologies).

[nosob sggih] 14/10/2013 15:19

that looks like yesterdays data. how high has RSI moved up today?

[nosob sggih] 14/10/2013 15:12

that's very crude. perhaps it is a double top!

[miata] 14/10/2013 15:00

Look at the channel on the chart (say YTD), the line along the tops and the line connecting the bottoms, and project it forward.

[nosob sggih] 14/10/2013 13:55

MIATA how do you come up with your 32 target? what level of dip are you talking about?

[nosob sggih] 14/10/2013 13:41

margins declined in Q1, see the statement