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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Renold Plc | RNO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.60 | 3.45% | 48.00 | 15:38:06 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 47.00 | 46.00 | 48.70 | 46.40 |
| Industry Sector |
|---|
| INDUSTRIAL ENGINEERING |
| Top Posts |
|---|
Posted at 18/4/2024 17:52 by thirty fifty twenty thank you melody9999 for taking the time to give such a detailed summary. the underlying biz seems very solid and i think undervalued, then there is the lure of one off military contracts, and , to me, it seems an ideal biz to be part of a larger group.All IMHO, DYOR and BoL, RNO is in my top 5 hldgs |
Posted at 18/4/2024 09:22 by melody9999 Meeting at RNO yesterday was positive. I'll post some detail later. |
Posted at 15/4/2024 16:26 by greyingsurfer Plus the pension deficit is coming down. Not sure what it was in 2007.But resumption of dividends, when it happens, will potentially shift the valuation. I saw posted on X this morning an unattributed set of forecasts which showed a dividend being paid in 2025. If correct thats not far away. |
Posted at 15/4/2024 13:12 by davidosh I guess the most important question is how much higher can these earnings go. Renold will continue to get re-rated steadily if this 20% growth in profits can continue and it also looks like a dividend is on the cards.The broker says... We raise our Target price from 58p to 65p, offering significant upside with the shares trading on a P/E of 5.9x, which looks too low given recent upgrades and sustainable cash flow improvements. That is more than 50% higher than where the share price is now and the order book is not discretionary spend as these are critical engineered items |
Posted at 15/4/2024 12:06 by essentialinvestor Just for a bit of context ..the RNO share price traded around 60 pence in early 2006. It then climbed rapidly in to the spring/summer, 2007 - the pre GFC peak. In FY 2007, adjusted EPS of 8 pence a share. Debt under £20 million. So although I fully accept the point on arguable undervaluation, at the same time earnings have 'not increased' in 17 years. They are effectively now at 2007 levels. The above is obvs being Highly selective with dates, you could equally look at more recent progress, etc. |
Posted at 15/4/2024 07:48 by davebowler Cavendish The FY24 year-end update is very upbeat signalling trading being materially ahead of expectations, with a better-than-expected profit out turn and stronger cash generation. It continues to strengthen margins through efficiencies and investment in modern equipment. The order book remains close to record levels providing a robust view of future forecasts. In FY24E we upgrade EPS by 11% and in FY25E a significant upgrade of 27.6%. It looks capable of declaring a dividend in FY25 as well as management actively seeking EPS accretive acquisitions. We raise our Target price from 58p to 65p, offering significant upside with the shares trading on a P/E of 5.9x, which looks too low given recent upgrades and sustainable cash flow improvements |
Posted at 12/3/2024 08:39 by robsy2 Oh dear. I couldn’t stay til the end so i missed that. Not sure if folk fully understand pension deficits and i claim no expertise but if interest rates are normalising ie going up, then this would be a big positive for RNO. We are seeing the positive effect with other companies reporting reduced deficits and reduced funding requirements. |
Posted at 08/3/2024 12:44 by melloteam Renold will be one of the companies discussed by the BASH (BUY,AVOID,SELL,HOLDFull programme: 5pm Fireside chat with Chris Boxall, Co-Founder and Director of Fundamental Asset Management 5:40pm Company presentation by Kinetiko Energy 6:10pm Company presentation by Galliford Try 6:40pm Introducing Clipper Automative and our Tax Efficient Investment Show 7pm Company presentation by Taseko Mines 7:30pm BASH with Mark Simpson and Kevin Taylor (RNO) Use code MMTADVFN50 for 50% OFF. |
Posted at 17/1/2024 16:50 by thirty fifty twenty mickeyb - i think this could be very interesting. with the consistent high volume in recent weeks and now this disclosure it is obvious that a stake has been being built in the background for weeks. possibly this is the pre-cursor to a bid [exciting], but even if it is just a new insitutional holder coming on board at 38p i think it will be seen as very positive by the market. suspect we wil know more by the end of the week.all imho, dyor and bol RNO is in my top 5 hldgs |
Posted at 12/7/2023 15:23 by pj84 “DividendThe Board fully recognises the importance of dividends as part of the overall value creation proposition for shareholders. However, the Board has carefully reviewed its capital allocation priorities, and believes that both organic and inorganic investment opportunities that are available to the Group will deliver higher levels of shareholder return over the medium term than the payment of dividends in the near term. The Board will continue to review this approach over the coming periods. As such, the Board is not recommending the payment of a dividend on the ordinary shares of the Company for the year ended 31 March 2023.” I was pleased with the results but slightly disappointed at the lack of any dividend but at least using funds to put to good use in generating future profits is far better than the number of companies who can’t find anything useful to use excess funds for and instead buy back shares. I understand the theory of buy backs but in practice they often appear to deliver very little. I had a quick look to see if this morning’s presentation to analysts was available on the website but it isn’t available yet, but the slides are there. Slides 7 and 8 show that £11.7m of cashflow was generated from trading activities but after taking into account discretionary spend on capital expenditure and investments there was a net cash outflow from the business of £16m increasing the debt by that amount. The largest component was the acquisition of YUK for £18m which will add to future profitability and in an era of rising interest rates it probably makes sense to delay any dividends whilst the debt is rising. With basic eps of 5.7p and adjusted eps of 6.5p this still seems to be very undervalued. |
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