||EPS - Basic
||Market Cap (m)
|Construction & Materials
Renew Holdings Share Discussion Threads
Showing 8601 to 8624 of 8625 messages
|They have a nicely profitable business growing well and able to have funds to buy smaller businesses if required to compliment and build upon current business. I bought more a few weeks ago such is my confidence here.|
|Excellent ; despite being xd 3 weeks ago now moved to new high ( About 20 yr high by my recollection). And yet still looks like more to come....|
|Nice £89,000 buy at 455p just reported.
OT : hvs, succinctly put :o))|
|WS Atkins released a solid trading statement this morning, and these extracts in particular bode well for RNWH's involvement at Sellafield and in infrastructure generally:
"Our nuclear business, which represents around 70% of our energy segment, has performed well in the period. We are encouraged to see an improved project flow at Sellafield"
"Trading performance in our UK and Europe business has continued strongly through the third quarter, with good delivery on a number of projects in the period. We continue to address strong, albeit competitive, markets as the Government supports infrastructure projects in energy, high speed rail, highways and airports"|
|Market's pleased he's gone!?|
|Congrats to John Samuel, who's done a sterling job in steering RNWH to a near-£300m m/cap.
Obviously very amicable given he's staying for the 12 months or until a successor FD is in place.|
|See that FD has quit, albeit with a 12 month notice period.|
|Good to see a £23,000 buy at 448.59p just reported.
Finncap's 586p would do me fine in a few months' time.|
|I would settle for 585p.
The vagueness in share price forecasts is the timescale. No broker commits to one. The share price will doubtless reach 586 eventually , the real Q is when?|
|Evidently not Harrogate :o))
Finally got round to reading Finncap's 24 page initiation note. Really good extracts re cash flows, ROCE etc:
"The cash flow characteristics are very strong, with the supply chain paid a
week after Renew is. Operating cash flow conversion from EBIT averaged
129% over the past three years (109% over the past five)"
"ROCE at September 2016 of 63% (post tax, lease adj.) is high and rising. We
forecast 78% at December 2017. This return is supported by the low capital
intensity of the business (capital expenditure averaged only 0.1% of sales over
the past three years) and the strong cash flow characteristics"
"Renew’s peers are valued at an average 2017 market cap/FCF of 20.3x. We
have applied a 10% discount to this in setting our price target of 586p.
Renew has generated the highest average free cash flow to capital employed
over the past three years within the peer group, and is only second to Fulcrum
on a forecast basis. Yet it is valued at the lowest 2017 market cap/free cash
As Renew continues to deliver at least in line with forecasts and expands
services or the client base with acquisitions, we expect the valuation gap on a
market cap to free cash flow basis to be removed"|
|Hi. Did anyone go to the AGM today? Any questions asked or info provided over and above the AGM statement.|
Renew's repair and maintenance services are fundamental to the UK's energy, gas, water, telecoms and rail infrastructure. The order book typically provides visibility on 65% of next year’s sales but in reality the vast majority of Renew's work is on large, long-term, non-discretionary frameworks. This supports attractive and relatively low-risk growth prospects. Renew is a true services business with strong cash characteristics and minimal need for capital, supporting ROCE of 60%+ (post tax). With ROCE significantly ahead of the peer group, a strong balance sheet and the prospect of reinvesting cash flow into enhancing acquisitions, we initiate with a Buy rating and a 586p target (38% upside).|
|Finncap have based their 586p target on the excellent free cash flow and ROCE, as per this snippet:
"Cash flow and potential to reinvest in high returns undervalued. Renew’s
ROCE is at the top of our peer group but market cap to free cash flow is at the
bottom, suggesting the cash flow and potential to reinvest in a high returns
business is significantly undervalued. Our target price is 586p (38% upside)"|
|I'll take 586p all day long|
|Just saw that - hard to justify on the current 17 and 18 numbers that are out there.|
|Finncap initiate coverage today with a Buy and a 586p target :o))|
|Indeed - could probably have written that statement myself and got it about right! I like no surprises in my investments and this is why I stay here|
|Excellent AGM statement:
- trading in line
- Giffen being integrated well
- order books nicely up, particularly the higher margin Engineering division
- good cash generation
Can't ask for more at this stage of the year.|
|trading update/AGM tomorrow according to website. hopefully share price can push on from here.|
|Bouncing now - looks like a buying opportunity from a hastily overdone markdown.|
|473,503 shares just reported traded at 434p, and an immediate tick up afterwards.|
|Clarke Telecom's workload is definitely picking up - here's another example, working with Vodafone and Telefonica to get another telecoms tower approved:
|I have arranged a meeting with the directors as a belated results presentation for next Monday at 11am in the City. If interested in attending then email me via my mellomeeting.co.uk website with your full name for the reception.|
|Carmensfella - did I read that you were organising a PI meeting with RNWH management next Monday. I would very much like to attend as a long term holder.