Share Name Share Symbol Market Type Share ISIN Share Description
Clarke T. LSE:CTO London Ordinary Share GB0002015021 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.90p -2.27% 81.80p 80.60p 83.00p 82.80p 82.80p 82.80p 28,647 16:35:26
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 278.6 3.7 5.5 15.0 34.22

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T Clarke (CTO) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-01-22 16:08:3883.0010,0008,300.00AT
2018-01-22 16:08:3882.805,7204,736.16AT
2018-01-22 12:20:2582.725,0004,136.00O
2018-01-22 11:21:3682.805,0004,140.00O
2018-01-22 11:17:1581.912,2161,815.13O
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T Clarke (CTO) Top Chat Posts

DateSubject
22/1/2018
08:20
T Clarke Daily Update: Clarke T. is listed in the Construction & Materials sector of the London Stock Exchange with ticker CTO. The last closing price for T Clarke was 83.70p.
Clarke T. has a 4 week average price of 80p and a 12 week average price of 70p.
The 1 year high share price is 93.25p while the 1 year low share price is currently 62p.
There are currently 41,829,577 shares in issue and the average daily traded volume is 50,307 shares. The market capitalisation of Clarke T. is £34,216,593.99.
12/1/2018
09:44
cc2014: So, we can there has been a battle at 87 with a buyer going in for significant volume. It looks like the seller is exhausted now but maybe he will return. It now looks like the MM's have gone "we don't know wtf is going on here" so the spread has gone massive. It protects them from losing money. There are a couple of points to be made. 1. The sector has picked up a bit since Xmas, apparently there was some report in the telegraph that the commercial property market is no-one near as depressed as everyone though. Additionally we have seen really good manufacturing output and whilst this isn't shown in construction output yet, you can only sweat the assets so long and the construction output follows sooner or later. 2. Maybe someone has gone and done some work and discovered CTO don't work for Carillion or at least the risk is minimal. You can see this in the list of turnover by company in the last analyst presentation. Or, it could be that the work they do for Interserve now seems derisked as evidenced by IRV share price more than doubling in the last month 3. It could also be that Chelverton who own 1m shares had a fund raising which completed I'm not sure but in the last week or two are coming in for more shares. I'd say the buyer still wants more stock. From the trades this is an institution/fund collecting rather than a PI with deep pockets which is the first time this has happened on the order book in the four years I've been holding these shares. Finally we seem to have got rid of most of the players who keep flipping for a few pence and someone is actively trying to acquire stock in volume to hold. I'd say this is a strategic move across the sector and as usual CTO has been lagging. My guess is we spend a bit of time here or at 90, which the buyer collects a bit more from the weak sellers as some always come out at previous highs. Tbh I'm surprised there haven't been more
21/12/2017
14:19
cc2014: I'm guessing that the MM's got themselves in a mess after the share tip and ended up unbalanced which is why they needed to push the share price down and take out the stops. We can see today that the market is now in "free-flow". the 900 buy at 13:05:01 immediately results in a 900 AT buy on the book at 840. Likewise the same pattern with the 602 earlier. And to some extent with the 10k at 12:57:13 but the MM's could only take out 7898 as that's all there was on the book. All good for us - I'm feeling less frustrated with CTO today.
19/12/2017
09:59
cc2014: I have never used the 4 Traders website before and found it really useful. There's some information on there which is hard to find elsewhere and I like the graphical way of portraying the trend information. I shall definitely use it again. Great stuff. I was most interested in the cash flow per share which they have at 24.6p per share for 2018 and 27.3p for 2019. These figures are slightly higher than mine but I've just been taking the forecast profit and deducting dividends and corporation tax on the basis that capital expenditure would cancel out depreciation. Maybe they don't include those or maybe don't include the dividends as that's funded out of the cashflow. I guess they see investment being less capex or perhaps it's because as a business with increasing turnover that would generate cash too as they get paid mostly within 30 days but payroll is monthly and the distributors are 60 days. It doesn't matter regardless, it's the magnitude of the number I'm interested in. 51.9p of cash flow per share in two years on a share price of 85p is nuts. Even if it's 25% lower than that it's still nuts. What are they doing to do with the cash as there's only so much strengthening of the balance sheet you can do (pension deficit, pay suppliers a bit quicker, get rid of the last £3m revolving credit facility, pay suppliers on 14 days to generate early payment discounts). Within a few years you are only left with 2 options at that sort of rate of cash generation: 1. much higher dividends 2. acquisitions/expansion I see despite the massive spread this morning the MM's are making people pay very near the full offer price.
17/12/2017
09:34
cc2014: Yeah - that would be my worry that a number of the buyers on Thursday/Friday won't hold as they don't have any long term conviction on the trade. So, this is why I'm staying in for some considerable time likely to be 3-5 years. The current situation We know the year end will be underlying £6.5m profit, year end net cash of £9m because the trading statement from 17/11/17 states that. Order book was at a record high at that stage too. In addition we know there will be another £1.43m from the fraud recovery which will be on top of the underlying £6.5m from the update on 17/07/17. So that's an EPS of 12.54p and a P/E of 6.61 based on a share price of 82p. Pretty tempting in itself The future. We know from the first half results on 08.08.17 that the South region took a hit of £2.6m compared with it's usual performance and we know this has been fixed, so won't reoccur next year. We know the order book is at a record high so turnover is likely to be up but certainly not worse. We know the acquisition of Eton will produce at least £0.3m profit as that's the amount it made in it's published accounts before acquisition. So, worst case scenario. £6.5m + no improvement in margin, no additional turnover, add £0.3m from Eton, add £2.6m from South and deduct say £1.5m as something comes along to bite them we don't know about. Gives profit of £7.9m and an improving cash pile of around £14m A lovely EPS of 15.24 and a P/E of 5.38 Best case scenario £6.5m + improvement in margin as rest of sector say £1.0m, impact of natural 5% increase in turnover £0.3m, add £0.5m Eton as cost saved to relocation of office and economies of scale, add £2.6m South, add new Birmingham and other 3 offices £0.2m (slow start) and no more hits. Gives £11.1m profit. An amazing EPS of 21.41 and a P/E of 3.83 and net cash of around £16.5m So, take your pick, a profit somewhere between £7.9m and £11.1m seems about right to me
17/11/2017
07:12
rivaldo: That's a terrific update considering the share price gyrations: Http://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/CTO/13434917.html Nicely in line, £9m net cash, looking for more acquisitions, a terrific order book and high revenue visibility. Plus a second RNS with an impressive NED appointment emphasising CTO's transition to a digital future (emphasised by the new contract wins in both M&E). Extremely reassuring.
15/11/2017
11:39
cc2014: It's bounced now back to where it was yesterday and more strangely on a day when the sector isn't doing very well. Kier down 2.5%, GFRD down 0.9%. I would really like to understand what's going on but I suspect it's as simple as someone wanted out before the results and the market couldn't absorb the volume they wanted to shift. I think we also entered the area of sometimes when stocks are falling fast, instead of drawing out buyers more and more selling occurs. I have been here so many times where I spend huge amounts of energy trying to figure out why such and such a share price seems irrational. History shows me that although a share price can remain irrational for years sometimes, if the directors are delivering profits it sorts itself eventually. As long as I'm getting the dividend stream I'm happy to be patient.
15/11/2017
10:51
tuscan4: Just to cheer ourselves up,Bowman & Kirkland won the second highest number of places on the £8 bn. Schools Framework announced yesterday . CTO North are active with this company. See P 26 of the Annual report. Slightly ominous when a share price falls ahead of an update like this. Could be just poor liquidity/ Brexit nervousness/ concern that the order book may be falling/problems in specific contracts etc. If none of the above materialize we can expect a decent bounce. If I were the Directors I would be concerned (assuming nothing untoward is going on) about the obvious mismatch between market value and intrinsic worth.
08/11/2017
12:50
tuscan4: I too am a patient investor. 4 years in January since my first purchase. Unfortunately the outlook for the construction sector has deteriorated in recent months,so it is understandable that a steady drip of selling is taking place. Could it be that technical factors are also weighing on the CTO price? MIFID II in January will negatively impact interest in smaller companies and perhaps the few remaining investment advisors left in the City who are able and willing to look at the CTO's of this world may throw in the towel. I retired from stockbroking nearly five years ago in the face of rising regulatory onslaught, and I suspect that the new breed of "advisors" must sing from a fairly bland song-sheet and have little appetite for sub £100m companies. Indeed , the appetite for investing in individual companies is under attack, as risk levels are racheted downwards. Current CTO selling may be merely partly the result of portfolio cleansing and not specific to the company. Value will out has always been part of my investment philosophy, however , with the rise of Passive investing, which will never encompass smaller companies, we must now assume that there will be a growing disparity between large/small, liquid/illiquid stocks . For the smaller quoted company this opens the way to acquisition, and perhaps CTO could be vulnerable on this count but after 100 years plus as an independent company one shouldn't hold ones breath. If ,as I believe CTO will come in with c £8m pre-tax, a strong balance sheet,a diminishing pension problem as rates go higher, and a business model which will help build an economic moat around its market position, then the shares are clearly outstanding value sub 100p. Patience will be rewarded IMO.
09/8/2017
08:35
cc2014: Choices are: a) economy keeps bumbling along at a fairly depressed rate of growth for next five years due to Brexit. Growth still exists though and CTO are able to continue to improve turnover and margins by a small amount = gradual rise in share price b) economy keeps bumbling along at a fairly depressed rate of growth for next five years due to Brexit. Growth still exists though and CTO are able to continue to improve turnover and margins materially and no further one off shocks = decent rise in share price c) deal done with Europe over free trade = pick any construction share you like and get an instant 25% rise in share price plus longer term growth d) no deal with Europe. Probably looks like a) as certainty is better than never ending not knowing. Could result in instant fall in share price following by gradual increase as happened after referendum vote
05/7/2017
10:40
cc2014: I think the point over CTO exposure to the high end banking sector is well made, although I would suggest this is already in the share price as the share price is currently depressed below any reasonable valuation. Half their work is in London and they are growing outside of London 2016 growth figures: London 11% Central and SW 19% North 28% Scotland 30% The company does frustrate me though. I see they have opened another office in Dumfries. Presumably driven by increased business north of the border
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