Kentz Share Price - KENZ
|Share Name||Share Symbol||Market||Type||Share ISIN||Share Description|
|Kentz||LSE:KENZ||London||Ordinary Share||JE00B28ZGP75||ORD 1P|
|Price Change||Price Change %||Share Price||Bid Price||Offer Price||High Price||Low Price||Open Price||Shares Traded||Last Trade|
|Industry Sector||Turnover (m)||Profit (m)||EPS - Basic||PE Ratio||Market Cap (m)||RN||NRN|
|Oil Equipment Services & Distribution||1,001.1||66.3||37.8||22.5||1,119.40|
Kentz News, Charts, Forums & Trades
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|16/1/2015||00:50||KENTZ - New float in Oil Services||5,167|
|03/7/2014||07:55||Malcolm Graham-Wood, discusses Kentz Corporation LTD live on TipT||-|
|02/1/2014||10:15||*** Kentz ***||9|
|05/8/2010||17:46||On Your Marks..........||166|
|10/8/2008||03:49||Kentz Engineers & Constructors||120|
Kentz Top Chat Posts
|alter ego: Whizzy1, the market cap is just what it would cost to buy every share in a company. So, a higher share price means a higher value whereas issuing more shares simply makes each one worth a bit less unless something else adds value. The usual driver of value is earnings, eps. If you can double your eps, you should expect to double the share price. That'swhy companies that are growing fast have higher p/e ratios than those that are growing slowly. The market ascribes a higher rating to high growth companies because itvexpects the share price to be higher in future based on higher earnings. Kenz Is thought by some, including me to be under rated. It expects eps to grow by 45% but has a p/e ratio of 12ish which isnt reflective of that and suggests the market doesnt believe the growth will happen. We will have to see but if kenz does achieve impressive growth in eps, the share price will adjust IMO.|
|rivaldo: KENZ is up around 40% on my average buying price, so I'm perfectly happy with KENZ' "predictable" share price reaction over the last few months. All those who were predicting gloom and doom following the lapsing of the bid have been proven totally wrong. In addition, the share price is up 9p today in what is a pretty miserable market overall, with a number of companies announcing profit warnings or just downbeat narrative. The share price is basically up to where it was for the bid. Give KENZ a couple of days with the market being positive, or one of those new contracts hinted at today - or possible American buying this afternoon following this IMS - and let's see where the share price ends up.|
|haywards26: Too many people focus on daily price movements....As the great man (Buffett) would confirm the share price really is irrelevant, and does not show the fundamnetal value of a company. This is where the investor has to do their sums work out the fundamental value and buy when the share price is well below this and then sell once the share price is well above it. The share price moves for various reasons, economic backdrop, sentiment, buyers and sellers. Of which none of these are of concern to a well managed and sound company. You have to use the swings in share price to buy low and then sell high. Everything else inbetween should be ignored. The technological age of investing is pushing people down the short term and traders route. As stockbrokers make more money this way (via transactional costs). Value will out, all that is required is patience.|
|gpd2: RBC View
What's in it for AMEC?
Our View: Our initial analysis of an offer by AMEC for Kentz suggests that
it could afford to pay a price somewhere north of 600p. However, we believe that this is not a "must-do" deal for AMEC and that its appetite for acquisition risk will wane quickly above 625p.
Earnings accretive over 600p - AMEC's indicative offer range is 565-580p and at the top end we believe that it could achieve 8% earnings accretion in 2014E. On our estimates, the deal metrics remain positive at 625p, but the risk / reward balance becomes more marginal. We do not see the acquisition of Kentz as a "must-do" deal for AMEC and believe that its management will be disciplined in its approach to valuation. This is particularly true since it has already tabled a share buy back as an alternative to M&A.
Target price increased to 600p - while AMEC could justify a bid up to 625p,
given the uncertainty still surrounding an offer, we increase our target price to 600p. This implies limited upside from the current share price and we reduce our recommendation to Sector Perform from Outperform.
At 600p, Kentz would be trading on a 2014E cash adjusted P/E of 9.8x compared to AMEC's 11.0x.
Complementary industry exposures - while AMEC and Kentz's business strategies are fairly different, with AMEC focused on engineering and project management, while Kentz derives much of its revenue from costreimbursable construction work, the two companies operate in similar industries, with around 60-70% of revenues coming from the Natural Resources industry including Oil & Gas and Mining. However, Kentz has a significantly greater exposure to Africa, the Middle East and Far East Russia than AMEC and this would boost AMEC's Growth Region from 13% to over 26% of revenues (2012A) and dilute its exposure to the Americas (where
AMEC faces a head wind from slowing oil sands industry spend) from ~60% to closer to 50% of revenues.
The attractions of Kentz and revenue synergies - Kentz offers AMEC additional exposure to gas liquefaction (LNG), electrical/instrumen|
|wexboy: Company: Kentz Corp Prior Post(s): 2012 & 2013 Ticker: KENZ:LN Price: GBP 750p And Kentz marches ever onward... Shareholder must now be breathing a sigh of relief that management emphatically rejected the Amec and M&W Group bid approaches last August. There was a pretty measly premium on offer, anyway – so I suspect even a protracted bid battle wouldn't have produced an acceptable take-out price for shareholders. The excellent share price performance since is rousing confirmation of the wisdom of management's decision. But now we obviously have to wonder if the shares have gotten ahead of themselves..? Well, the business continues to go from strength to strength. We've seen some large wins in the past 6 months – the $640 million Ichthys LNG Project & the 190 M Qatar Petroleum contract, for example. All told, the company now enjoys a 4.1 B backlog (as of end-Feb, up 58% from Dec-2012), and a colossal 15.6 B pipeline (up 18% yoy). It also pulled off a 435 M acquisition of Valerus Field Solutions, which adds an additional 493 M of revenue (and 51.5 M of EBITDA). Capping this, final results were released last week, which confirmed 17.3% EPS growth. The operating profit margin's now 6.9%, on nearly 1.7 B of revenue, but this is tempered by continued working capital investment – not unusual for a company like Kentz. Considering the history of success, and the current backlog/pipeline, it might seem unfair to handicap my valuation because of this cash shortfall – but let's be conservative here: The current operating free cash flow margin is 3.4%, so let's average the two & utilize a 5.2% adjusted margin (or 85 M). But this allows us to be generous & assume 100% of the Valerus EBITDA will be realized as margin (at least on a cash basis). This bumps our adjusted margin up to 137 M, on a new revenue run-rate of almost 2.2 B – a 6.4% adjusted margin. This continues to deserve a 0.6 P/S multiple. With 400 M of the Valerus acquisition to be funded with a loan, interest expense should jump to around 21 M, a whisper over 15% of our adjusted margin. Therefore, we'll no longer add a (positive) debt adjustment, but we can certainly still adjust for the company's cash pile (247 M less 35 M earmarked for Valerus). Things are much simpler on the earnings front: EPS has increased by 17.3% & 19% in the past two years, and has generally exhibited similar/superior earnings growth in the past. I'll stretch to a 20 P/E multiple for that kind of quality: (USD 0.681 EPS * 20 P/E + (2,150 M Revenue * 0.6 P/S + 212 M Cash) / 118 M Shares) / 2 / 1.6638 GBP/USD = GBP 792p Kentz is probably the type of company (& sector) investors instantly love or hate...but judging by the figures & its long-term record, it remains marginally under-valued at this point. Barring some unforeseen project disaster, it's reasonable for shareholders to also expect another significant uplift in intrinsic value within the next year, based on the current backlog & pipeline. Not to get all starry-eyed, but it's worth highlighting Kentz' market cap is still under $1.5 B – a mere tiddler in the industry – which suggests its best growth opportunities may still be ahead, rather than behind it... Price Target: GBP 792p Upside/(Downside): 6% _|
|rivaldo: Interesting little bubble up in the share price first thing this morning.
Nice interview here - but it serves to advertise the savings possible for any predator for KENZ. With the deal not complete yet will anyone else step up to the plate?
|rivaldo: Thanks for the AGM notes Mark, and good to see you topping up.
Broker update with an 810p target:
|rivaldo: Nice tip for KENZ overnight:
"Buy Kentz says Nifty Fifty Co-Editor Steve Moore
On the back of a trading update for 2013 last month, I updated that the rating of international engineering, procurement, construction and technical support services group Kentz (LSE:KENZ) in the context of a continually positive outlook meant that I continued to believe that patient investors would likely do well from the then 632.5p share price - see HERE.
The following updates with the company having since announced two contracts wins and with the shares currently at 720p.
Last week the company announced the award of a $640 million contract for the structural, mechanical and piping construction package for the Ichthys project onshore LNG facilities in Australia to its joint venture with Australian-headquart|
|tom9999: Banked. Share price so close to offer suggests people think there will be a counter offer but I doubt it at that price. Strong offer|
|rivaldo: UBS has just upped its target to 730p - for the moment :o))
Kentz Most Recent Trade
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