Share Name Share Symbol Market Type Share ISIN Share Description
Low & Bonar LSE:LWB London Ordinary Share GB0005363014 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 55.60p 55.20p 56.00p 56.60p 55.80p 55.80p 1,037,712 16:35:21
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 400.0 25.9 4.2 13.2 183.36

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Date Time Title Posts
17/1/201814:02Low & Bonar Plc1,177
09/7/200716:36...i have followed this donkey from lowlands of still can double...8
31/7/200518:57Low & Bonar for the asset sensitive120
21/4/200411:05Low & Bonar + 30 Ј million contract4

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Low & Bonar Daily Update: Low & Bonar is listed in the Construction & Materials sector of the London Stock Exchange with ticker LWB. The last closing price for Low & Bonar was 55.60p.
Low & Bonar has a 4 week average price of 52p and a 12 week average price of 52p.
The 1 year high share price is 91p while the 1 year low share price is currently 52p.
There are currently 329,776,120 shares in issue and the average daily traded volume is 273,702 shares. The market capitalisation of Low & Bonar is £183,355,522.72.
cc2014: Curious. The share price has moved up this morning and the 89k trades so far are all sells. I sense someone is collecting stock and that most of the buyers who bought at 53-54 are happy to hold on to them. Even more curious is that no RNS has come through related to who sold all that stock down at 53 because they certainly aren't selling now.
cc2014: Quite astonishing. The seller is back at 53.0 today. He really does seem to have an endless quantity. Not much else to say because it's certainly keeping a lid on the share price. Eventually he will run out. Surely. Probably when I least expect it.
eastbourne1982: If I was running this company I'd get a rights issue done (although I would have been doing it when the share price was 80 - 90p). A rights issue at say 40p for existing holders to raise 50 million wouldn't have too much of a detrimental impact on the share price imho (currently 52.5p mid price). The debt is what is putting me off buying, I certainly won't be the only one, get the debt reduced and start moving the business forward. When I value this I'm using the market cap plus the debt to get circa 300 million, undertaking a rights issue doesn't really impact on this however it would take the debt worry away and give things a more positive and stable feel.
rathkum: I would not read too much into Brett Simpson's departure. He was obviously headhunted by Fenner which is 4x the size of LWB based on current share price. Has the market over reacted? I think so. I feel no compelling reason to sell as I see very limited downside if any.
ed 123: Ta, CC2014. :-) Your thoughts on the share trades here match my own. I have longer term hopes for this one. Brett Simpson has a vision for the Group, avoiding commodity products, aiming for higher margin products in growing sectors of the economy. The old FD is gone and Simpson now has his own choice of FD. I wasn't convinced about the old CEO. Texiplast is one of Steve Good's buys. Four years on, it doesn't look to have been money well spent. Some have said Low and Bonar is a serial disappointer. I wouldn't argue against that. I've been in and out of this share over a period of decades. I remember it when it was a packaging company, providing the boxes for Kelloggs cereals at Trafford Park, Manchester. The share price was higher then than it is today. That says something. As for the here and now, I view Low and Bonar as a development project. If the new management can get it moving forward with no more bad news, and an outlook of increasing eps, then a re-rating looks very likely, imho. If performance improves and it doesn't re-rate, then it could be a bolt-on for someone? Meanwhile there's a dividend yield close to 5% at the current price. Sterling Strategic are an interesting major shareholder. They will be in dialogue with management. Will SS be supportive and patient or want a quick turn on their investment? I hope for the former but, if the latter, I'll take it.
ed 123: Been looking at today's trades. Although nearly all today's deals have been marked as "buy"s, it is a false picture. Reason? There has been a buyer offering more than the mid-price to anyone wanting to sell. As a holder, obviously I'm hoping this buyer continues to mop up and, eventually, the share price rises. But, who knows? Low and Bonar's financial year will end one month today. Broker updates are showing an average estimate of 6.77p earnings for the current year and 7.93p for next year. If those earnings figures are met and no more glitches, then a share price of 12.5 x 8p earnings, c. 100p, might be reasonable for February 2018? Dreamland ..... if some bigger player wants LWB and offers, say, 9 x ebitda. That might give EV of c. 522 million (for y/e 30.11.17), say 392 million after debt, or 118p per share. That would be about a 68% rise from today's 70p share price. Unlikely to happen, of course, but no harm in my dreaming. (No advice intended - no crystal ball, either.)
rathkum: Broker Peel Hunt still reckons L&B's a 'buy'. It lowered its price target by 9% to £1, but that still suggests upside of around 55%. It managed to bounce back from 2014's travails within the year. Can it do the same again? Judging by the share price chart, expect a bumpy ride.
mortimer7: The above illustrates the proportion of the C E business which is the sector which indicates cause for concern in todays update. Hardly merits the 18% drop in the share price IMO.
ed 123: Someone was keen at the end of today. Share price rose by 5.5p in the last five minutes. :-)
ed 123: Hi Rathkum. I could have made a couple of suggestions for today's slip in the share price but debt level would not have been one of them. As you'll know, the absolute debt level for any business doesn't matter. What matters is the size of the debt in relation to the size of the business. Net debt only went up by £9.5m or 6.8%, whereas revenue went up by 16.4% and underlying profit by 16.5%. So, the proportionate size of debt has actually reduced This was confirmed within the interim statement, Gearing at 31 May 2017 was 2.5 times (2016: 2.7 times) ... The covenant requirement is net debt/EBITDA < 3.0. So, LWB's debt level is safe, down from last year and should go down further with the receipts from today's sale announcement.
Low & Bonar share price data is direct from the London Stock Exchange
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