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Norcros Share Price (NXR)

Share Name Share Symbol Market Type Share ISIN Share Description
Norcros LSE:NXR London Ordinary Share GB00BYYJL418 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +3.50p +2.00% 178.50p 177.00p 180.00p 180.00p 177.00p 180.00p 5,531 16:35:13
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m) RN NRN
Construction & Materials 222.1 11.0 1.4 127.5 108.88

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Norcros (NXR) Discussions and Chat

Norcros Forums and Chat

Date Time Title Posts
24/1/201622:40Time to take a shower in Norcros shares.2,617
23/7/201412:02Norcros plc NXR103
27/2/200822:05Do they make RAIN showerheads ? !20

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Norcros (NXR) Top Chat Posts

imranawan: Loginair, I agree with your points about the NXR share price being disappointing. I've only held it for around 9 months, and its done very little in that time. I bought into Topps and sold out shortly after they issued their interims, and am kicking myself as they have risen strongly since then. I also agree that NXR appears to be undervalued, but I can't see any share price rise in the short-term. I think the catalyst in share price would be if they made an acquisition to achieve their aim of increasing revenues to £400m.
loganair: For me the NXR share price is not really that important as long as I'm not making a loss. What is important to me and matters is the dividend, as long as it rises by 5% or more then I'm very happy - and the company has reduced it's debt from the previous report.
rivaldo: Nice summary from Paul Scott - he has a 300p target price: http ://www.stockopedia.com/content/small-cap-value-report-8-oct-2015-nxr-abdp-flyb-dtg-107763/ "Norcros (LON:NXR) Share price: 209.6p (up 0.8% today) No. shares: 61.0m Market cap: £127.9m (at the time of writing, I hold a long position in this share) H1 trading update - this group describes itself as, "the market leading supplier of innovative branded showers, taps, bathroom accessories, tiles and adhesives" - how refreshing to read a simple, plain English description of what the company does (a rarity today!). The key part confirms that H1 is in line; Group underlying operating profit1 in the first half is expected to be in line with the Board's expectations. Other points; •H1 sales £118.7m (up 9.3% vs LY, up 12.0% on constant currency basis) •Encouragingly, 6.5% of that 12.0% is LFL organic growth •Balance of 5.5% non-organic growth came from Croydex acquisition •UK LFL growth +1.8%, S.Africa +16.9% •UK retail sector "remains challenging" •UK trade sector "good year on year growth" - new house building helped •Croydex performing in line with expectations •Net debt £29.5m (2014: £20.0m) •Cash outflow of £20.1m for Croydex acquisition in the period Outlook comments - All of our businesses continue to perform well notwithstanding the mixed market conditions and the recent weakening of the Rand. The improved manufacturing efficiencies in Johnson Tiles UK have been sustained and we have made good progress in integrating the Croydex business into the Group. The Board remains confident that the Group will continue to make progress in line with market expectations for the year to 31 March 2016. That all sounds pretty good to me. Valuation - since the company is trading in line, these valuation figures should be accurate; It's difficult to find companies performing well, on a single digit PER, but here we have one. Forward PER of only 8.99 looks a bargain to me. Trouble is, it's looked a bargain for quite some time! There again, the price seems to be holding on to the higher levels established in the summer of this year. Bear in mind there is a large pension scheme here, which is a negative, so valuation needs to factor that in. Stockopedia likes it, with a StockRank of 93. My opinion - I like it - this is a long-term holding of mine, and it's strikingly cheap compared with practically everything similar out there. I particularly like that S.Africa is powering ahead, shrugging off currency issues. The company is making very sensible acquisitions, with the intention of growing the business substantially. As long as they don't take on too much debt, then that's a good strategy in my view. Debt is under control at the moment, and remember that there is also freehold property on the balance sheet, so personally I tend to offset freeholds against debt, when valuing companies. I think fair value here is about 300p, but am not holding my breath over when we are likely to get there! It's a boring share, but it pays nice divis, and at some point should re-rate nicely. That could happen very quickly (e.g. on a takeover approach), so I'd rather be in it, than sitting on the sidelines and miss any potential big move. I'm still getting used to the new figures, post 10 for 1 consolidation. Still, you only have to move the decimal point one space to the left, to go back to "old money"! I think it was a sensible move to do the share consolidation - although it shouldn't make any difference, it now looks a more sensible share, whereas a 20p share looks a bit mickey mouse, particularly for institutional shareholders. Also, the price being quoted in 0.25p increments was clunky when it was 20p - each increment was quite wide, at 1.25% of the price. Whereas now it's c. 209p, and the price is moving in 1p increments, that's a much better 0.5% per price increment. With a low valuation, and some good points in today's in line statement, I'd guess that the price is probably more likely to go up, than down".
loganair: Over the past 3 years I am disappointed at the current share price. I used to hold Topps Tiles and sold at 56p and reinvested in NXR at 10.65p. Topps Tiles share price continued to fall to 20p and under a heavy weight of debt, there was even talk of it going under. Since then Topps share price has risen to a little over 130p while NXR to just 18p.
rivaldo: New report out from Edison just now - they go for 19.8p EPS this year and 22.1p EPS next year. Plus 6p and 6.5p dividends respectively - a pretty good 3%+ yield: Http://www.edisoninvestmentresearch.com/research/report/norcros6 Conclusion: "In H116, Norcros has seen good revenue progress from both divisions and we expect to see higher profit when results are reported on 12 November. In addition, we expect further y-o-y progress in H2 and full year expectations are unchanged. Our recent initiation note highlighted growth aspirations, which are yet to be reflected in the share price." "Valuation: Share price gains to follow good newsflow Factoring in a 1:10 share consolidation at the end of September, Norcros’s share price has traded around the 200p level for the last three months, having hit a high of 225p in July. Having recently initiated coverage, we maintain our view that prospects are not fully reflected in current valuation multiples (ie FY16e P/E 10.1x and EV/EBITDA adjusted for pensions cash of 5.8x)."
simon templar qc: Looks to me like institutions are continuing to pick up stock and any institutional selling outweighed now by buying. So that should see a stronger share price. One would expect the share price to slowly gain traction as time goes on, although the markets are weak at present investors are more inclined now to be careful where they invest and its stock like Norcross which could rebound quicker in tough times due to its strong management and track record.
driver7: Andrew Byles. A little learning is a dangerous thing. Yes, tiles energy-intensive but (a) there is a long lag between falling spot prices and contract prices and (b) kilns are fired by gas not oil, though there is ultimately linkeage. Energy is critical for internal profitability, but more important for share price is the economy (new build and refurb). Otherwise energy benefits are simply passed on to the customer!
rivaldo: New note today from Edison, going for 2p EPS and a 0.6p divi this year, with 2.2p EPS and a 0.65p divi next year: Http://www.edisoninvestmentresearch.com/research/report/norcros5 Conclusion: "Valuation: Shares heading towards a new high FY15 results and the Croydex acquisition were well-received and, currently at c 20p, the Norcros share price is c 11% above the level at the start of the year. The company’s growth prospects are good (our estimated three-year normalised EPS CAGR is 10%) and this could be enhanced further by the actions described above. On a current year P/E of 9.6x and adjusted EV/EBITDA of 5.5x, we would expect the share price to move beyond its current all-time high (24.75p in January 2014)".
andrewbyles: South Africa generated £1.9 million in operating profit for the first half of this year and £3.0 million last year. Whilst any reduction in that profit as a consequence of currency fluctuations is unwanted (if indeed there is a reduction, as the business is growing faster than the currency is falling and may be able to export more as the currency falls), it hardly justifies a 7.2% fall in the share price. Particularly when it's less than a month since the directors (who historically have been very cautious about issuing forward statements and who are unlikely to be unaware of the risks of doing business in South Africa) have stated that full year profits will beat expectations and a couple of days after Numis have restated their 300p price target.
charlie: Anyway, I welcome all buyers, whatever they make of the disclosure rules! In recent weeks I keep writing in my file "the share price seems insane" or words to that effect. I know, unwise to think such things. But 7x earnings to March 2016? OK, more like 8x times today, after meagre price rise and "marginally ahead" news. But many building / RMI suppliers are on roughly twice this rating or more (see Howdens).

Norcros (NXR) Latest Trade

Norcros Most Recent Trade

Trade Type Trade Size Trade Price Trade Date Trade Time Currency
AT 65 177.00 05 Feb 2016 16:29:35 GBX
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