Kentz Share Discussion Threads

[steeplejack] 14/4/2014 15:51

Profit taking.With all the uncertainty from the Ukraine,European deflation fears,insipid US recovery,slowing in China with credit concerns,investors are taking money off the table and top slicing those stocks- like Kentz- that have been excellent performers.It's a conundrum.Do you take profits or buy on weakness,strangely both ideas occur in the same instance.

[rjd1233] 14/4/2014 15:32

And the Dow is up.

[fizzypop] 14/4/2014 15:27

700p again. Well who would have thought it?

[sheyac] 14/4/2014 15:17

Seriously wtf? This can't all be related to Ukraine?

[fizzypop] 14/4/2014 13:54

Divi Dates........

(A) FINAL DIVIDEND
The Directors have proposed a final dividend of 10.9 US$ cents per share which would make a total dividend payment
of 17.5 US$ cents per share for the year ended 31 December 2013. The final dividend payment will be made in May
2014 to shareholders on the register at the close of business on 25 April 2014.

[whizzy1] 14/4/2014 11:30

Just about to re-enter with 67 ish grand.
Done. 707.28p

[fizzypop] 14/4/2014 11:07

Got to be a bargain so 814 shares at 710p bought.
Final ex-divi due about 24 April.

[rjd1233] 14/4/2014 08:56

Bit of a drop this am.

[whizzy1] 14/4/2014 07:53

Stop amended courtesy of Ukraine escalation over the weekend.
Sold all @735

[whizzy1] 10/4/2014 09:46

Topped up @ 765

[apad] 09/4/2014 09:20

Well found Riv.
apad

[rivaldo] 09/4/2014 09:07

Very interesting comment re the new CFO....



"a news snippet worth flagging-up – engineering services provider Kentz will see its chief financial officer Ed Power retire in May, following 24 years of service. His cool hand at the till along with that of former CEO Dr Hugh O'Donnell (whom this blogger had the pleasure of meeting at the 20th World Petroleum Congress in 2011) was crucial in guiding the company out of troubled times and into the FTSE 250.

While wishing Power a happy retirement, Kentz has also played an absolute blinder in naming Meg Lassarat, the current CFO of Houston-based UniversalPegasus International, as his very worthy successor. Lassarat is widely credited for driving a five-fold increase in the revenue of UniversalPegasus to over US$1 billion (£603 million). So you can see why Kentz have headhunted her.

Meanwhile, Ichthys LNG project in Australia continues to provide the company with good news. Kentz has bagged a $570 million contract for electrical and instrumentation construction packages at the project.

The latest contract is atop a 50% stake in the structural, mechanical and pipeline construction contract for Ichthys with a headline valuation of $640 million. Put it all together and we're getting close to the $1 billion mark or to quote analysts at Investec – "an addition of 14% to Kentz's order book that underpins visibility into 2017"."

[whizzy1] 08/4/2014 10:17

Edit: double post for some reason.

[whizzy1] 08/4/2014 10:17

Against the grain I'm sure, but this slight pull back is just what I needed, top sliced, ready to get back in at a lower price in the ISA, feeling lucky.

[rivaldo] 08/4/2014 07:40

Nice summary and broker comment:



"Australian award lifts Kentz

Oil services firm Kentz (KENZ) edges up 1.3% to 766.5p as it announces a material contract win in Australia.

The $570 million, 30-month award for electrical and instrumentation construction work on the Icthys liquefied natural gas (LNG) project boosts a bulging order book by 14%, thereby providing greater visibility on future revenues. It follows on from a $320 million package of work won on Icthys in late February and takes the total value of contracts secured on the development to around $1 billion. It could also fit nicely with Kentz's work on the Gorgon LNG project in Western Australia which is set to wind down from the middle of next year.

Alongside last month's (24 Mar) buoyant full-year numbers the company had already revealed an increase in the order book from $3.5 billion at the year-end to $4.1 billion by the end of February. Kentz has an excellent track record of turning a pipeline of potential work into awards and awarded contracts into cashflow. As such we flagged the company as our core holding in our review of the wider sector late last year (even if we displayed excessive caution on the stock at the time on valuation grounds).

Investec analyst Neill Morton leaves earnings estimates unchanged but reiterates his 'buy' advice and 810p price target. He says: 'We estimate that this adds 14% to Kentz's order book and underpins visibility into 2017. However, we assume this award was implicit in Kentz's 5% upgrade to 2014/15 guidance at the time of its recent full-year results and are not changing our forecasts or target price.'

Numis says the deal is positive for Kentz, 'providing visibility to 2017 and further strengthens Kentz's position in the Australian LNG market, particularly as the market transitions over the next years towards a maintenance driven market, as a number of major projects complete, putting Kentz in prime position to win these contracts in the future.'"

[davidosh] 08/4/2014 00:55

You can contact Kentz investor relations by writing to [e-mail]

[dr_smith] 07/4/2014 22:26

Chector, I believe you are referring to ShareSocs post 4891 which concludes with a reference to the Head of Investor Relations for Kentz, that is not their own role.

[sigala] 07/4/2014 21:52

So the backlog is up around the $4.5bn mark now, I guess.

They've really grown that backlog at a very fast rate over the last 12-18 months.

Kentz set great store by their delivery of projects and impressing their clients, which in turn often secures project extensions and additional work. Hopefully they can maintain that focus on excellent project delivery given the greater scale and number of projects they have now.

I am pleased with recent awards in Australia because it should provide continuity to their significant operations in that country after their Gorgon work winds down.

The Icthys awards means that they can maintain a big presence in Australia to bid for other large contracts there as they come up. It would have been a shame to have built a large operation there only to have to wind it down again.

AIMHO

[chector177] 07/4/2014 21:39

I stand corrected, living in Derbyshire I sometimes have to get into London early. This means an early morning, I cope. To see someone with the title "Head of Investor Relations" complaining about an early start to do his job, I found a bit unusual. In my industry its pretty standard to a have to start early and finish late. Quite obviously I'm in the wrong with my comments and my job. I do hope the timing of Kentz AGM's gets changed so no-one is inconvienced in the future.

[penpont] 07/4/2014 21:04

From Malcy's Blog:

Kentz Corp
After the surprise on Friday of the CFO retiring, today its back to business as usual for Kentz with another big contract award. Ichthys is fast becoming the new Gorgon and in a way will indeed take over from it as orders from there will slow down in mid 2015. This contract is worth $570m to Kentz for the E&I scope and means that both E&I packages have been awarded to the company. To give some scale, around $1bn of contracts have now been won on Ichthys including temporary telecoms, underground cabling and SMP work, with 30 months of work and 1,200 staff this now substantially underpins forecasts for 2014 and 2015. It has been a good time for contract awards for Kentz and as reported in the final results a fortnight ago this has fed into a backlog of $4.1bn and the pipeline is over $15bn. I am aware that the shares have had a very good run since AmecGate but remain confident that this order book size and quality will feed through to revenue and ultimately convert to a significant increase in profitability. Accordingly, whilst no longer on a 'laughable' rating, the company is still exceptional value in a sector that offers long term upside to its better players, Kentz is just such a stock and remains a favourite in its field. - See more at:

[marben100] 07/4/2014 17:03

Whilst I think Kentz management have done a great job, I have written to complain about this start time, and most importantly, to try to ensure we get a presentation. I go to AGMs to learn more about my investments & express my views: much easier if there's a presentation. They do them constantly for their institutional investors, but I'll bet a significant proportion of the shares are also in retail investors' hands, who can have a significant impact on liquidity and efficient price-setting.

[whizzy1] 07/4/2014 15:04

Had 416 shares left in my Master Account this year, been looking to offload at a good price before sending them across into the ISA, sold @775.75 so a bit off a pull back would be ideal for when I get back in tax free territory tbh, but doubt it lol.

[davidosh] 07/4/2014 14:20

If you feel that communicating with shareholders is important and would like Agms to be at a time and place to be accessible for shareholders so say 11am or 2pm in London and ideally with a presentation by management to attract more interest and a beneficial Q&A then why not let KENZ know at [e-mail]

If you do not communicate then they will never know your thoughts.

[felix99] 07/4/2014 14:09

I was always told that AGMs should be between 10am and 4pm .