Share Name Share Symbol Market Type Share ISIN Share Description
Somero Enter Di LSE:SOM London Ordinary Share USU834501038 COM STK USD0.001 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.50p -1.94% 176.50p 175.00p 178.00p 180.00p 176.50p 180.00p 42,188 16:03:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 47.7 11.8 14.3 10.3 99.29

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Date Time Title Posts
14/10/201606:58SOMERO - laser guided construction equipment792
25/9/201500:12SOMERO - laser guided construction equipment14
10/1/201418:33Somero - Laser-guided construction equipment92
26/2/201307:28somero sales up 47%-
09/1/200912:39Time to buy SOM and tuck away ????15

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Somero Enter Di (SOM) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
21/10/2016 17:15:05180.00100,000180,000.00O
21/10/2016 17:15:05180.00100,000180,000.00O
21/10/2016 17:15:05180.00503,720906,696.00O
21/10/2016 17:15:05180.00525,000945,000.00O
21/10/2016 16:03:16177.503,0005,325.00O
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Somero Enter Di Daily Update: Somero Enter Di is listed in the Industrial Engineering sector of the London Stock Exchange with ticker SOM. The last closing price for Somero Enter Di was 180p.
Somero Enter Di has a 4 week average price of 181.93p and a 12 week average price of 171.89p.
The 1 year high share price is 188.50p while the 1 year low share price is currently 117p.
There are currently 56,254,379 shares in issue and the average daily traded volume is 319,696 shares. The market capitalisation of Somero Enter Di is £99,288,978.94.
grabster: Much as I like this share and its nice effect on my portfolio, I remain puzzled as to why a successful US company, a large percentage of whose sales are US ones, does not make its shares directly available to US investors who might surely want to participate. Instead it has this listing on a sub-market abroad, namely AIM. But that apart, I notice that the rising share price has taken the company's market capitalisation above £100m -- bringing it onto the radar of those fund managers who won't look at anything smaller than that.
rivaldo: Results tomorrow - remember this from July's trading statement: "The strong performance in June and the continuation of the positive trading environment together with margin improvement and solid operating cash flow generation mean the Company now expects to report results slightly ahead of current market expectations for the full year ending 31 December 2016" Egg, both Artemis and BlackRock presumably have very large profits - and shareholdings. Top-slicing is perfectly natural given that. In addition, there are always plenty of reasons why a fund sells shares, For example, their holdings in SOM may given the share price rise have exceeded their parameters for holding one stock in their portfolio, or there may have been a change of fund manager.
glasshalfull: Thanks for the reminder that results next week Rivaldo. Missed this from my calendar. Topped up this morning. Adam, finnCap had this to say in July 2016, "Following its encouraging earlier AGM trading update, Somero has experienced strong trading in June ending the first half on a high note, and now expects trading for the full year to be ahead of expectations. Accordingly, we upgrade our forecasts. With a strong second half also expected from its underlying markets, plus better H2 cash generation, the shares continue to look good value. Today's news should be taken well by the shares and we continue to see strong upside over the next year. The first half has ended strongly, with June experiencing good trading volumes in the US, Europe and China. The sales growth has been broadly based through its product range, aided by new products as well as growth in consumables revenues. Margins have benefitted from this increase in sales. Management expects market momentum to continue through H2, with cash generation also stronger than the first half following the completion of major capex spend and also the payment of the dividend in the period. We are upgrading our FY16 forecasts, increasing revenues from $75.1m to $76.5m. EBITDA is raised from $21.1m to $22.5m, giving adjusted PBT of $20.3m, up from $18.9m. This gives an increase in EPS from 21.3 cents to 22.5 cents. The shares have been strong performers through this year supported by encouraging trading updates and momentum in its customers construction order outlook. Today's statement supports this trend and should give a further boost to investor confidence. Today's upgrade places the shares on a P/E of 10x and reinforces our positive stance, and we continue to expect strong share price outperformance over the next year." --- Kind regards, GHF
rivaldo: Shares Mag today has a "Play Update" on SOM and says "keep buying": "SOMERO ENTERPRISES (SOM:AIM) US-BASED MACHINERY manufacturer Somero Enterprises (SOM:AIM) has announced that it is trading ahead of market expectations for 2016. The company makes patented laserguided equipment which automates the spreading and levelling of concrete for commercial flooring. We added the company to the Plays portfolio as a tangential beneficiary of the e-commerce trend. We believe the continuing shift towards online shopping will drive demand for its expanding product range which can create the almost perfectly flat concrete floors required in retailers’ warehousing centres. The latest update on 12 July 2016, which follows a robust statement last month (6 Jun), suggests the first half has ended strongly with June seeing good trading volumes in the US, Europe and China. House broker FinnCap has upgraded its pre-tax profit forecast from $18.9 million to $20.3 million. Canaccord Genuity, which rates the stock a ‘buy’ and recently increased its price target to 200p, comments on the positive valuation implications of sterling weakness: ‘With numbers reported in USD and a GBP share price, the shares are now trading at an increasingly attractive multiple, with a price to earnings ratio of 7.9 for FY16E and a free cash flow yield of close to 10% in FY17E as capex normalises.’ SHARES SAYS: We are encouraged by the performance of the business. Keep buying. (TS)"
rivaldo: Came across another positive article here regarding value in small caps: Http:// "Having recently a delivered fabulous set of results for the year to ending 31st December 2015, we think US based Somero Enterprises Inc. (AIM:SOM) is definitely worth a look. The Group manufactures laser-guided machinery used in horizontal concrete placement, to “advance the productivity, concrete flatness and efficiency of the jobsite”. Key end markets for the Group’s products are distribution warehouses which, due to automation and very high racking, demand perfectly flat concrete surfaces. For the year ending December 31st 2015 revenue increased 18% to US$ 70.2m, pre-tax was up 40% to US$ 17.4m and basic adjusted net income per share grew 28% to US$ 0.23. We are big fans of small caps that deliver material cash and Somero didn’t disappoint in this regard either with operating profit of US$17.57m resulting in a net operating cash inflow of US$14.51m boosting year end net cash to US$13.7m. Operating margins were 25% up from 21% in the prior year with the Group delivering a return on equity of just over 30%. There was a significant uplift in investment due to expansion in their Michigan facility and start of construction of a new global headquarters and training facility in Fort Myers, Florida. Much noise was previously made about the potential in China for the Group’s products, but for us this business is an all-out play on the US economy. US sales represented 70% of the total at US$49.2m having grown just over 32%, driven by larger machinery. Sales in EMEA were up 52% but at only US$9.6m represented just 8.1% of total sales. Sales to China actually fell 36%. The results statement confirmed that the healthy trading momentum in the US has carried forward into 2016 with momentum driven by demand for replacement equipment, fleet additions, technology upgrades and new products. At the current share price (149p) the shares trade at a very modest 9.2x earnings estimates for the year ending December 2016 and yield 3.5%. We appreciate the cyclical nature of the sector but this little business has weathered plenty of storms before and is a true leader in its niche sector."
18:36 Full text of that: Somero Enterprises, Inc. 34.5% Potential Upside Indicated by finnCap Posted by: Katherine Hargreaves 8th February 2016 Somero Enterprises, Inc. with EPIC/TICKER LON:SOM has had its stock rating noted as ‘Initiates/Starts’ with the recommendation being set at ‘CORPORATER17; this morning by analysts at finnCap. Somero Enterprises, Inc. are listed in the Industrials sector within AIM. finnCap have set their target price at 185 GBX on its stock. This is indicating the analyst believes there is a potential upside of 34.5% from today’s opening price of 137.5 GBX. Over the last 30 and 90 trading days the company share price has increased 0.5 points and increased 7.35 points respectively. Somero Enterprises, Inc. LON:SOM has a 1 year high for the stock price of 158 GBX while the 52 week low for the stock is 110.22. There are currently 55,411,058 shares in issue with the average daily volume traded being 155,163. Market capitalisation for LON:SOM is £77,963,357 GBP. Somero Enterprises, Inc. is the manufacturer of patented and laser-guided equipment. The Company’s equipment automates the process of spreading and leveling volumes of concrete for commercial flooring and other horizontal surfaces, such as paved parking lots in North America. Its manufacturing facilities are located in Michigan. The Company’s products are marketed in Europe, Middle East and Africa, Latin America and Asia through direct sales force, sales representatives and dealers.
06:11 Somero Enterprises (LSE: SOM) has also seen a similar share price rise; since 2010, the company has seen an increase of its share price by 950%. Much like Ashtead it is focused on the US market mainly, and provides laser-guided equipment for levelling flooring. Sales in North America rose by 27% in the first half of 2015 but the management really want to crack the Chinese market. The shares trade on a cheap PE of 9 and pay a nice dividend yield of 3%. On 7 January, the company announced that sales were at an all-time high in December, and the company expects revenue to be ahead of expectations. This bodes well for the full-year results, and getting in before they are released may be wise. ..
danzac39: IC update It's a busy time of year for corporate newsflow as companies with June period ends release pre-close trading updates ahead of their interim and full-year results. Indeed, no fewer than five companies on my active buy list issued trading statements yesterday alone. Another earnings beat Aim-traded Somero Enterprises (SOM:150p), a Florida-headquartered company that specialises in the design, assembly, and sale of patented, laser-guided concrete levelling equipment for commercial floors, has confirmed that the strong momentum seen across the business at the time of the company's last update in mid-May has been maintained into early July. Somero reported strong activity levels in both North America (accounting for two thirds of fiscal 2014 revenues) and the Middle East, with Europe, Southeast Asia, and Latin America each also contributing to overall growth. The healthy North American project pipeline, coupled with technology upgrades, are key drivers behind the higher demand being seen for Somero equipment. In China, activity levels increased in May and June after a slower than expected start to the year and Somero's board reports "healthy momentum in demand for our products there." So with business picking up, the region is still expected to post its fifth consecutive year of growth which is reassuring given that China accounted for 16 per cent of Somero's sales last year. The net result is that the company is currently trading slightly ahead of analyst forecasts for the financial year to end December 2015. Analyst Mark Hughes at equity research firm Broker Profile was previously predicting that current year adjusted pre-tax profits will rise from $14.5m to $15.5m (£10m), based on a 10 per cent increase in revenues to $65.7m, to produce adjusted EPS of 11.6p at current exchange rates and after applying a 34 per cent tax charge. Mr Hughes is also pencilling in a further 9 per cent hike in the dividend per share to 6¢, or 3.9p. On this basis, Somero's shares are rated on a modest 12 times current year cash adjusted earnings after factoring in net funds of 7.5p a share. Moreover, that rating will drop again as Somero should be able to produce operating cashflow north of $14m this year, and net cashflow of around $5.6m after capital expenditure and taxation. That not only leaves enough cash aside for a raised dividend, but I conservatively estimate the cash position will grow to at least 12p a share by the year-end. It could be more. So having initiated coverage when the share price was 140p ('On solid foundations', 22 April 2015), and reiterated that advice at the same price at the time of the last trading update ('Three value plays', 19 May 2015), I feel that my 185p year-end target price is still achievable. Trading on a bid-offer spread of 146p to 150p, I continue to rate Somero's shares a buy
mike740: Somero Enterprises Inc share price information Name Somero Enterprises Inc Epic SOM Sector Industrial Engineering ISIN USU834501038 Activites Somero Enterprises, Inc is a leading manufacturer of technologically advanced concrete placing equipment and associated machinery. Somero Enterprises was founded in 1985 and has grown and prospered by delivering superior products to an international market. Latest share price (p) 148.50 Net gearing (%) 1.26 Market cap (£m) 83.23 Gross gearing (%) 21.53 Shares in issue (m) 56.43 Debt ratio 3.64 P/E ratio 5.67 Debt to equity ratio 0.14 Divs per share (p) 5.50 Assets / equity ratio 1.27 Dividend yield (%) 2.24 Price to book value 2.70 Dividend cover 2.50 ROCE 0.40 Earning per share (p) 26.00 EPS growth (%) 160.00 52-week high / low (p) 157.00 / 105.50 DPS growth (%) 150.00
penpont: Thanks rivaldo. Just picked up on the ST tip from the IC - a bit long but a good overall summary of SOM's potential: It was hard not to be impressed by the fiscal 2014 results from Aim-traded Somero Enterprises (SOM: 140p), a Florida-headquartered company with a market value of £79m that specialises in the design, assembly, and sale of patented, laser-guided equipment that automates the process of spreading and levelling concrete on commercial floors. Having set its stall out last year to double turnover to $90m (£60.8m) by 2018, the company increased revenues by nearly a third to $59.3m in 2014, all of which was organic growth, and with gross margins ticking up a couple of percentage points to 54 per cent, and operating costs rising by only 13 per cent, this resulted in a 91 per cent surge in pre-tax profits to $12.4m and a 123 per cent rise in adjusted EPS to 29¢, or 19.5p at current exchange rates. Moreover, with the benefit of a capital-light business model, a high proportion of cash profits of $15m, up two-thirds in the 12-month period, was converted into operating cash flow, so much so that net funds almost doubled to $6.6m, or the equivalent of 8p a share. In turn, this enabled the board to reward shareholders with a 150 per cent hike in the dividend per share to 5.5¢, or 3.7p. The final dividend of 4¢ (2.7p) went ex-dividend this morning. On this basis, the shares offer a 2.7 per cent historic yield, and are rated on a lowly seven times 2014 post-tax earnings. A solid growth story Furthermore, it's only reasonable to expect this progress to continue in the years ahead. That's because the company has a strong presence in the all-important North American market - sales in the region increased by almost half last year to account for 63 per cent of the total on the back of robust growth in the construction industry. In fact, non-residential cement consumption exceeded the industry's original forecast of 22 per cent growth in 2014 to end up 30 per cent ahead of 2013. This positive industry backdrop, the introduction of new products - the company spends 2 per cent of its annual revenues on product development with the aim of launching one new product a year - Somero's pricing power, and a shortage of skilled labour for its customers all contributed to the jump in North American sales. The company has also been benefiting from an increasing presence in China, where sales rose by 44 per cent to $9.5m to account for 16 per cent of Somero's revenues in 2014. This performance was driven by a greater penetration rate in all regions and the broader awareness of US floor flatness standards being issued by the China Flooring Association. The evolution of the Chinese economy towards more logistics, big box retailing, and e-commerce is playing its part too as these trends are boosting demand for the speed and flatness provided by Somero equipment in laying concrete. In addition, higher wage rates are leading to greater automation in this process which increases the value of Somero's equipment. Expect these themes to continue to help Somero raise its market penetration in a country that clearly offers huge growth potential: cement consumption is around 30 times greater in China than in North America. Chinese customers also now have access to finance options when they purchase Somero's equipment which can only help sales. It's also worth noting that the company sells to concrete contractors for non-residential construction projects in over 92 countries and across every time zone around the globe. Last year, Somero reported growth in seven of the 10 geographic regions it services and that even included Europe where sales rose by a fifth to $3.6m, or 6 per cent of the total. Its Laser Screed® equipment is primarily used in the construction of warehouses, assembly plants, shopping centres, and other commercial construction projects that require extremely flat concrete-slab floors. The client base includes multinational companies such as Costco, Home Depot, B&Q, DaimlerChrysler, the United States Postal Service, and Toys 'R' Us. The company's assembly operations are based in Michigan, US, and sales and services offices are located in Chesterfield, England; Shanghai, China; and New Delhi, India. Cement consumption in India is three times greater than in North America, so to raise awareness within the industry, Somero has stepped up marketing efforts as well as attending trade shows and giving seminars for engineers and architects. Revenue from the Indian market was $600,000 last year, or 1 per cent of the company's total turnover, but this is from a standing start and the market clearly has huge potential. Patented technology It may seem hard to believe, but as the leading manufacturer of laser guided machinery used in horizontal concrete surfaces Somero's patented technology has a near 100 per cent market share. Protected by 56 patents, the company's products achieve a high level of precision in concrete surface flatness at a higher rate of efficiency than conventional methods. It's cost effective too as it results in the highest level of flat-floor precision attainable at less cost to the flooring contractor. The company's vision is for its technology and processes to be used wherever a ready-mix vehicle is discharging concrete for a concrete slab. Maintaining customer services at the highest level, and offering 24/7 aftersales support, are key to protecting this dominant market position, which explains why Somero's workforce increased from 128 to 165 last year to support the anticipated ramp up in sales. Moreover, this solid infrastructure creates an obvious barrier to entry for new competitors. That's because it would be difficult for a new entrant to replicate Somero's product offering and break into its market by using a lower product price to grab market share as it would also need to invest considerable sums in creating a similar service operation. In addition, the company's continual investment in capital spend on new products creates another barrier for new entrants as these new products are specifically designed and built to provide maximum productivity and operational efficiency for clients, so in effect Somero already has first-mover advantage with its patented products. Potential for sustainable growth Clearly, the construction industry is cyclical, but Somero offers the attractive combination of exposure to pent-up demand in the US for residential construction post the recession - the Portland Cement Association predict that it will take another seven years at least before output peaks there - and non-residential cement consumption which has scope to surpass its 2007 peak over the next decade. Interestingly, average selling prices of Somero's products have risen as the US economy recovers in previous cycles. Indeed, in the last economic cycle they increased by 25 per cent on average for smaller line products, and by 42 per cent for larger line products. Sales in North America rose by 46 per cent from $25.5m to $37.2m last year, but there remains substantial upside for further growth in product prices based on previous cycles and for cement consumption based on the above industry forecasts. In fact, analyst Mark Hughes at research firm Broker Profile predicts that Somero's sales from North America could hit $58m by 2018. To put this into some perspective, the company's US sales were $40m at the previous peak in 2007. Mr Hughes is also forecasting that sales in China will double over the next four years to $20m. That's hardly an unrealistic forecast given that the potential market is worth $1.2bn in annual sales, of which Somero has penetration of less than 1 per cent at present. In other words, growth rates will be determined by Somero's ability to penetrate this market rather than the market growing itself. The same is true in India where the company's market penetration rate is only 0.5 per cent, according to Mr Hughes. A fairer valuation Not only are the shares attractively priced based on last year's historic numbers, but there is a realistic chance of decent profit growth coming through in the next few years as Somero's sales pick up on the back of the key drivers I have outlined above. Broker Profile predicts that for fiscal 2015, the company's revenues and pre-tax profits will both rise by around 7 per cent to $63.8m and $13.2m, respectively. Mr Hughes is pencilling in a further 10 per cent rise in revenues to $70m in 2016. These estimates look well underpinned and so do expectations of a further hike in the dividend to 6¢ a share this year, or 4.1p at current exchange rates, implying a near 3 per cent prospective dividend yield. It could be more because analysts predict Somero's net funds will double to $14m by the end of this year, a sum equivalent to 17p a share. Admittedly, a tax credit inflated last year's net earnings and this will revert to a tax charge in 2015. However, using Mr Hughes' adjusted EPS estimate of 19.7¢ for fiscal 2015, or 13.3p at current exchange rates, based on a 30 per cent corporation tax rate, still means that the shares are being priced on only 10 times cash-adjusted earnings estimates. That's far too low for a company that offers potential to beat these conservative looking forecasts if market penetration rates can be expanded in China and India, and the US economy remains in fine fettle. Furthermore, the company has no financial concerns to warrant such a low rating. In fact, its balance sheet is robust with cash balances covering almost all liabilities, so Somero is not reliant on outside creditors to funds its inventories of $8.4m; neither is the business being constrained in extending credit to clients - accounts receivables were $6.6m at the end of 2014. In fact, I feel a cash-adjusted PE ratio of 12.5 for fiscal 2015 is a fairer valuation, implying a year-end price target of 185p. That's 30 per cent above the current share price which for good measure is on the cusp of signalling a major share price break-out if it takes out the 140p all-time high from June last year. A blue-sky rally to my target price of 185p would then be on the cards, and one supported by strong fundamentals. Trading on a bid-offer spread of 137p to 140p, I rate Somero's shares a strong buy.
Somero Enter Di share price data is direct from the London Stock Exchange
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