Oxford Instruments Share Discussion Threads

[simon gordon] 27/1/2015 13:17

Probably take another profit warning to hit 600p, could crumble to 700p on disinterest.

[mallorca 9] 27/1/2015 10:55

This seems to have £6 or less written all over it !

[bulltradept] 27/1/2015 10:45

Possibly, but you want value try closer to £6.00

[simon gordon] 23/1/2015 20:51

700p a technical entry point?

[koetser] 23/1/2015 11:27

hvs,

what I like about statement is that oxig are going to grow next year but is closing down factories and making people redundant ....

[koetser] 23/1/2015 10:51

dead cat bounce

[meijiman] 22/1/2015 21:19

Absurdly expensive acquisition. ceo should walk here.

[harriiiiddda] 22/1/2015 21:01

Still a company with quality products, this should encourage holders in the long term

[simon gordon] 22/1/2015 19:43

FT - 22/1/15:

....Sales in Russia typically represent about 5 per cent of the group’s annual revenues.

Shares in the company were down 27.5 per cent to 797.5p in afternoon trading.

Analysts at Investec said the profit warning was a “further significant disappointment” from the company. Oxford Instruments has had a difficult year as adverse foreign exchange movements and a squeeze on scientific research government spending weighed on the group.

“A significant downgrade in estimates is likely to be compounded by derating, since shareholders have been looking forward to a return to growth after a challenging year,” said Michael Blogg at Investec.

Oxford Instruments, which provides equipment for Nasa’s Mars Curiosity rover, said profits would also be affected by lower than expected sales in Japan, noting that its forecast of recovery in the Japanese market had not yet occurred.

The company, which acquired Andor Technology, the Belfast-based camera maker, last year for £158m, said it would look to reduce costs, which could include the closure of factories and job cuts. It expects to achieve cost savings of £6m in 2015-16.

Scott Cagehin, analyst at Numis, said lower forecasts would weigh on confidence, but added: “We still see the potential from the nano exposure and look to pick up stock on weakness albeit appreciative that recovery in both confidence and the shares may take time.”

The group said it still expected growth next year, with order intake in Japan improving.

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[koetser] 22/1/2015 15:40

gone short ;-)

[bombadil79] 22/1/2015 15:26

Holy sh&t. This must be one of the highest volume days ever? Doesn't bode well.

[salpara111] 22/1/2015 14:50

Just bare in mind that the current market cap would see them automatically relegated from the FTSE 250 at the next review which is early March.
If Mr Market sees that as a done deal they will continue to sell it down.

[mallorca 9] 22/1/2015 13:00

Target £6

[mallorca 9] 22/1/2015 13:00

Thanks alter.

Net Debt £135m with only £35m profit , not good.

Current Market cap looks high, value should be closer to £300m, so possible 25% reduction in the share price to come.
I've gone short.

[alter ego] 22/1/2015 12:25

Year ends 31/3 and last year Final results were published on 10 June.

[mallorca 9] 22/1/2015 12:20

When are the next set of results due anybody ?

[bouleversee] 22/1/2015 12:17

So not a growth stock and certainly not an income stock, so why the heck have I been holding it all these years?

[alter ego] 22/1/2015 11:56

Comments by Investec as published in The Guardian

"Today’s third quarter update points to full-year adjusted pretax profit 20% short of our below-consensus estimate (and 26% below for the second half of 2015), which is a further significant disappointment following very poor interims in November.

Oxford Instruments is a ‘growth stock’ becalmed by very unhelpful trading conditions and it risks being de-rated, due to the delayed resumption of growth, margins that are going backwards and substantial balance sheet leverage. Our estimates, valuation and recommendation are all under review."

[alter ego] 22/1/2015 11:46

the one encouraging statement today is
We expect to see the Group grow next year and beyond as we execute on our nanotechnology strategy.

Of course there's still a chance this optimism will be misplaced but £4 looks as pessimistic as it can be so is probably just wishful thinking.

I prefer to wait of the dust to settle and await the actual results before trying to value the stock.

[wad collector] 22/1/2015 11:40

What did you say your name was ?

[billy_liar] 22/1/2015 10:51

Looking for an entry point below £4 in next 12 months. Don't think I'll be disappointed.

[pugugly] 22/1/2015 10:49

Taking 2015 estimates into account it would appear that normalised eps will be back to the level in 2012. so agree with AE: view above. Realistic p/e should be lower at say 14 - 15 particularly given the level of DEBT - According to refs is was £140M in 2014 accounts [88.7%]

Need however to do more research on products as to what percentage are MUST have (i.e. unique with no easily substitutable competitors] so far as customers are concerned and which are at major risk for competitive activity.

[cafe tabou] 22/1/2015 10:24

I'm in below £8.