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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Synthomer Plc | SYNT | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 3.50 | 1.51% | 235.50 | 16:35:11 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 230.00 | 228.50 | 240.00 | 235.50 | 232.00 |
| Industry Sector |
|---|
| CHEMICALS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 03/03/2022 | Final | GBP | 0.213 | 01/06/2022 | 06/06/2022 | 05/07/2022 |
| 05/08/2021 | Interim | GBP | 0.087 | 07/10/2021 | 08/10/2021 | 04/11/2021 |
| 04/03/2021 | Final | GBP | 0.086 | 03/06/2021 | 04/06/2021 | 05/07/2021 |
| 14/10/2020 | Interim | GBP | 0.03 | 22/10/2020 | 23/10/2020 | 10/11/2020 |
| 06/08/2019 | Interim | GBP | 0.04 | 03/10/2019 | 04/10/2019 | 05/11/2019 |
| 04/03/2019 | Final | GBP | 0.091 | 06/06/2019 | 07/06/2019 | 05/07/2019 |
| Top Posts |
|---|
Posted at 22/2/2024 14:43 by libertine 22 February 2024Synthomer still a ‘buy’ for Peel Hunt but disposals are needed Disposals are needed at Synthomer (SYNT) to catalyse a rerating of the chemical company’s shares, says Peel Hunt. Analyst Harry Philips retained his ‘buy’ recommendation but reduced the target price from 320p to 250p on the Citywire Elite Companies A-rated stock, which shed 2.4%, or 3.7p, to 151p on Wednesday. The shares are down 86% over the past year after swinging to a loss-making position and being forced to go cap in hand to the market in a £276m raise. Philips said ‘disposals are needed to accelerate the deleveraging process’. ‘In our view, the company has raised just enough, but without disposals, a rerating to our 250p target price is unlikely to happen organically in the short to medium term,’ he said. ‘We see the stock as an eyes-open “buy” that still has bumps and challenges, but also has a platform.’ |
Posted at 07/2/2024 10:59 by libertine EXPERT VIEW06 FEB, 2024 Berenberg recommends ‘buy’ Synthomer Specialist chemicals group Synthomer (SYNT) is at ‘the right time in the cycle for some action’, according to Berenberg. Analyst Sebastian Bray retained his ‘buy’ recommendation and target price of 320p on the Citywire Elite Companies A-rated stock, which fell 5.1% to 143.1p on Monday. Bray said the ‘key message’ from the trading update this month was that debt is down, with the corollary being that the shares increased ‘despite continued headwinds to the adhesives unit’ that saw earnings decrease modestly below consensus expectations. ‘Rising China chemicals imports and a recent bottoming of base chemicals prices in our view signal the start of a recovery in demand for chemicals in 2024,’ said Bray. ‘The pick-up in Synthomer’s volumes of nitrile latex in the fourth quarter appears consistent with the beginnings of a modest recovery, as reflected in the 12% rally in TopGlove shares since the start of December.’ He added that Synthomer is one of the ‘most levered to a macro recovery in European chemicals’. |
Posted at 19/1/2024 13:11 by pottsypotts Good turn to positive today could this finally be the day when SYNT finds a base |
Posted at 11/1/2024 13:36 by darrin1471 LOTM "They allowed the £1B purchase to go ahead without proper financing to be in place at the time. A criminal decision."At the time of the acquisition (28/10/2021) BofE rates were 0.1%, we were exiting covid and the SYNT share price was near all time highs. Congratulations to all of those who had a crystal ball in 2021 and shorted SYNT. The share price was not a sudden collapse but a long 2 year fall. There was plenty of opportunity to sell. Small investors either took their eye off the ball or stuck their heads in the sand. I don't have a crystal ball but today the SYNT mkt cap looks good value, higher than average risk with higher than average potential reward. I still hold no position long or short in SYNT. |
Posted at 28/11/2023 17:48 by wigwammer Fair enough, rct. I really have little idea whether fundamentals here will get better or worse on a 12 month view. But I suspect the valuation is already reflecting a bearish consensus... Over the medium term I think SYNT will recover and the shares multiply. IMO etc.. |
Posted at 27/11/2023 22:40 by darrin1471 wigwammer. Thanks for the heads up on McBride 18 months ago. Last months rise makes it my biggest holding. I continue to hold MCB as I see further upside in re-valuation and even higher profits.I've had SYNT on a watch list for a few months and now the dust has settled I have taken a deeper look and I quite like the look of what I see. The strategy of a specialist chemicals company looks sound. The price SYNT paid for Omnova and Eastman’s Adhesive Resins looks reasonable. The Eastman’s timing is unfortunate but at the time of the acquisition (28/10/2021) BofE rates were 0.1%, we were exiting covid and the SYNT share price was near all time highs. The sale of non core business and the return of normal trading conditions should lead to a significant recovery. I hold no position in SYNT at the moment. |
Posted at 06/11/2023 14:42 by darrin1471 ham: from your sharecast link:"Synthomer was a classic early cycle share" "weaker volume outlook in 2024 for the construction-and-coa About 40% of SYNT revenue comes from coatings & construction solutions. IMO this cycle is different from the GFC as interest rates were slashed during the GFC and today we are only just entering a period of "for higher and longer" interest rates. If the narrative remains higher and longer then construction still has a way to fall and the cycle has several years before it turns. |
Posted at 15/10/2023 16:05 by turvart lonrho,Yes I have left in goodwill as SYNT is a going concern and as of yet not being broke up by receivership, most of the goodwill would have been from the Eastman's acquisition and any previous acquisitions adjusted, as Eastman's was only purchased on a P/E of 8 from memory (I will be corrected if I'm wrong on that) then I consider the goodwill to be an asset. The EPS figures will look so much more attractive now from next year regarding full year results as there is now only approx 163.5 MLN shares in issue rather than the previous 468 MLN shares. This is why SYNT is a longer term investment rather than a quick in and out (Not saying that can't be done either at these levels). |
Posted at 15/10/2023 08:55 by turvart Let me just quickly show people why SYNT is so under valued.These are figures taken from the 6 months interim results ending 30th June 2023. Total assets including intangibles = £2.681 BLN Total liabilities = = £1.718 BLN This then gives Net assets of £963 MLN. If I actually then write off the Intangible assets (Because Intangible assets can be debated what there actual net worth is) then SYNT have 963 - 543 (Intangible assets). = Net assets of £420 MLN (Excluding Intangible assets) We then have the money from the Rights Issue of which should be after expenses some £261 MLN. So this is what I would IMO refer to as NAV = 420 + 261 = £681 MLN With approx currently 163.5 MLN shares in issue now this gives: 681/163.5 = NAV = 416p |
Posted at 13/5/2022 00:22 by al101uk Sorry i've been tying myself in knots here... but finally figured it out...The company states this about it's dividend payments: "The Board maintains a dividend policy of 2.5 times earnings cover." Looking at broker forecasts: hxxps://research-cen Consensus is for a 20% dip in profits, but a dividend cut that is completely out of proportiion with that numbers, closer to 50%. This years earnings were 48p and they paid a dividend of 30p. The cover for this year was only 1.6x, not 2.5x So at consensus earnings of 42.5p and adjusting the dividend to 2.5x we end up with a large cut in dividend. 48 / 1.6 = 30p 42.5 / 2.5 = 17p The question is, why did the company pay a dividend that does not conform to their dividend policy. The answer lies in a second statement regarding dividends in the results: "The total dividend for the year is in line with the Group’s dividend policy with the dividend representing 40% of the underlying earnings per share" "Underlying" is the key term here. This years underlying EPS is 75.2p and DOES cover this years dividend 2.5x. 75 / 2.5= 30p The brokers have used the wrong earnings number to calculate the forecast yield. Assuming a 20% fall in underlying earnings per share (which isn't a given by any means) you get a Dividend yield of around 24p. Underlying could obviously move in either direction in relation to EPS depending on how extrodinary one off costs were last year and how they relate to next results. I'm reasonably confident that all things being equal any dividend cut will be a relatively a small one. |
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