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RTC Group Share Discussion Threads
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|Thanks for sharing the latest forecasts
|Moving up - doesn't take much buying to move it.|
|Indeed - should set the cat amongst the pigeons nicely :o))
An 85p target price would be a nice start - and still only be a P/E of 11.
this year : 7.4p EPS, 3.3p divi
next year : 8.7p EPS, 3.6p divi
At the current 49p that's a P/E of just 6.6 and a 6.7% divi yield....|
|Whitman Howard has published a new research note.
Precis via Research Tree:
"There are numerous reasons to buy RTC. Improved visibility due to its exposure to recurring, higher margin, contracts in the robust UK engineering sector now account for c46% of revenues – up from 25% in 2014. Following a strong start to 2017 we forecast adjusted PBT growth of 16%, a ROCE of 19% and a sustainable dividend and FCF yield of 7% and 11% respectively. With a PE rating of just 7x we initiate with a BUY recommendation and a price target of 85p, representing 73% upside."|
|I'm back in today, since going out earlier at higher, on the Morson connection news.
|Normal service resumed so far as the share price is concerned!
I wonder if Mason will be tempted to top up?|
|Thx Harrogate - that probably explains why WHI haven't updated yet then :o))
I expect Whitman Howward will have a maiden note out soon then now the results are out. Presumably they will want to get it right and will be heavily guided by the company.
IMO the Network Rail contract, together with the ATA contract news I posted earlier, will serve as strong additional income streams as they continue to ramp up, and assuming the decent economic growth continues I can't see any reason why RTC shouldn't expand accordingly. Along with the share price.
In the meantime we continue to collect a terrific dividend yield.|
|I'm a long term holder in Renew by the way re your comment about Brian May|
|I'm an ex holder here and i think your bang on the money Harrogate. They're operating in very good economic conditions but just have the feeling that it's never going to 'happen' with this company.|
I am not sure there will be any news form WHI as they were removed in Jan - they use SPARKS and Howard Whitman now who don't seem to put anything out and this is part of the reason that I don't like this share even though it should be right up my alley. I don't get as worked up as some about director pay but here the salary is obscene for a market cap of this size and the nil cost option awards are pretty shabby I think. I like small caps and I like recruiters and I like Brian May who is a non exec - but I don't like the set up here.|
|Thank you rivaldo
Having done a very small amount of investigation, my concern came from:
17-Mar-16 - Grant of 402.5k of share options, exercise proce 0p
22-May-15 - Grant of 560k of share options, exercise price 0p
Before that the exercise price of options, at least in 2013 and 2014, was the share price prevailing at the time of the award.
I actually ignored the share-based payments charge as it was so small (only £40k or so from memory, similar to last year). If I'd included them then the adjusted figure would have been even higher than 7p EPS!|
I am happy to add back in the amortisation but if the share-based payments happen on a regular basis then I would view them as a feature of the business model rather than as exceptionals. I will need to do some digging to see if that is the case.
Best wishes, Martin|
|No, the fully diluted EPS is NOT the adjusted EPS. You have to add back the amortisation (and share-based payment charges etc).
In which case RTC achieved 7p EPS, compared to the revised 6.2p EPS forecast.
Happy to accept any corrections, but you're on the wrong track at present.|
Fully diluted eps was 5.44p, well below the revised down forecast of 6.2p.|
|Phar Lap, as I posted before, they actually did better than those forecasts, as I posted before, AFAICS. Remember, those forecasts are for adjusted EPS, not headline reported figures.
I calculate 7p adjusted EPS for 2016, well ahead of forecasts, once you add back the £173k of amortisation.
The 3p dividend is also spot on forecasts - a 5.6% yield.|
|Before the trading update in October last year, broker forecasts were;
Y/E 2016 : 8.6p EPS, 3.3p divi
Y/E 2017 : 9.5p EPS, 3.7p divi
they were downgraded to
Y/E 2016 : 6.2p EPS, 3p divi
Y/E 2017 : 7.7P EPS, 3p divi
So its disappointing that they couldn't reach the revised EPS target.|
|Yes should be relative to performance of the business!|
|£1k-£2k a day being paid for change consultants in the City, nowhere near responsibility of a CEO. Its all relative.|
the big fella
|CEO paid £402k & easyily achieved LTIP in place. What's not to like!!|
|Good results out today given the Q3 slowdown and following the strong Q4 recovery.
I calculate 7p adjusted EPS, well ahead of 6p forecasts, adding back the £173k of amortisation.
The 3p dividend is spot on forecasts - a 5.6% yield.
The outlook is strong too, with a positive start to 2017 in all divisions.
Ganymede should continue to thrive with the Network Rail contract, the smart meter opportunity etc. ATA should also benefit from the government focus on infrastructure spending, and GSS is stable with further opportunities. Plus the Derby Conference Centre is now complete in terms of investment, is re-let and better utilised (not sure Derby will get promoted this year though!).|
Anyone know Whitman Howard and Spark Advisory who they changed to at the start of the year. Will their research, if any, reach the masses?|
|Things have gone eerily quiet (both in terms of here and in terms of the share price) ahead of Monday's results.|
|I'd like some further colour on exactly why RTC had such a good H2 that enabled them to meet expectations following the earlier setback, and what has caused such a positive outlook for this year. WH Ireland would be better placed to get this info from the company than anyone else.
Given the turnaround in sentiment this would be the ideal time to reiterate forecasts and provide further detail as per the above.|