Braemar Share Discussion Threads

[qs99] 21/3/2024 18:24

Sorry for double post

Fat fingers using phone!!

[qs99] 21/3/2024 18:23

Thanks team BMS for posts much appreciated

I agree and will add as and when spare cash comes my way!

DYOR

[qs99] 21/3/2024 18:23

Thanks team BMS for posts much appreciated

I agree and will add as and when spare cash comes my way!

DYOR

[rivaldo] 21/3/2024 11:50

Edison have a new note out - they have a 500p price target.

They forecast 45.4p EPS for the year just finished, with 46.4p EPS this year.

That's backed up with a 13p dividend, rising to 14p this year:



"Outlook encouraging with c 100% valuation upside

The outlook is encouraging, evidenced by the underlying global trade situation (the
IMF raised global GDP growth estimates by 0.2% to 3.1% in February) and the forward order book, which was up 47% to US$83m, driven primarily by activity in the Sale and Purchase division. FY24 results are expected to be released by the end of May.

We have maintained our estimates for FY24 and FY25 but edged down our FY24 dividend expectations from 13.5p to 13.0p, which implies a modest reduction in our previous valuation of 520p to 500p per share, based on our dividend discount model"

[qs99] 20/3/2024 19:41

They need to get their IR team on the case. Great forward order book, hopefully net cash should increase materially this next fiscal and EBITDA can edge towards £20m.....bigger yield may attract more buyers, but otherwise perhaps CKSN can buy BMS at this ridiculous valuation!!

DYOR and good evening to you Masurenguy

[masurenguy] 20/3/2024 19:31

Over the past 5 months Clarkson shares are up 50% whereas BMS is only up 10% ! 😒

[qs99] 20/3/2024 08:06

agreed, looks the wrong price still IMO....DYOR

[rimau1] 20/3/2024 07:54

No reason to not be achieving minimum 45eps FY25

[harry davis] 20/3/2024 07:38

Looks good enough for a decent rise today!

I'd caution two things though just so no disappointments later:

1) I have realised that the brokers seem to be treating the acquisition costs in different ways. If you look at the EBIT line, Cavendish are ignoring the existence of it hence their £18m forecast, whereas Edison are much closer to £16m because they are including it

2) The order book growth is a bit of a misnomer as so much of it is beyond 1 year under Gundy. They've really pushed at getting better outer year visibility into that book.

Still way too cheap!

[masurenguy] 20/3/2024 07:27

Positive update with an 8% dividend increase and a 47% order book uplift !

FY24 TRADING UPDATE
Revenue and underlying operating profit in line with market expectations

Braemar announces a trading update for the twelve months ended 29 February 2024 (FY24).

Trading update

The board is pleased to report that the Group has achieved another strong performance, with revenue and underlying operating profit1 for FY24 in line with market expectations. Revenue is expected to be not less than £150m (FY23: £153m) with underlying operating profit of not less than £18m (FY23: £20m), subject to audit. The Group maintained a positive cash position with net cash at 29 February 2024 of £1m (FY23: £7m), a decrease from the prior year after expensing the cost of the previously announced internal independent investigation conducted and concluded last year, certain tax payments and share buy backs during the period.

Proposed dividend

In line with the Group's progressive dividend policy, the board expects to recommend a final dividend of 9p (FY23: 8p) per share, delivering a total dividend for the year of 13p (FY23: 12p), an increase of 8%.

Outlook

The Group entered FY25 with a total forward order book3 of US$83m, a substantial increase of 47% on the prior year (FY23: US$56m), providing the board with confidence for the year ahead.

Notice of results

The Group expects to announce its FY24 results for the y/e 29 February 2024 by the end of May 2024.

[rivaldo] 20/3/2024 07:17

Today's nicely in line year end update suggests the recent drop has made BMS excellent value.

We can expect EPS of somewhere between Cavendish's 38p EPS and Edison's 45.4p EPS.

Accompanied by a 13p dividend, lifted by 8%.

Most importantly, the order book is up a whopping 47% to $83m, suggesting that the current year is looking very good.

[fevertreeman] 18/3/2024 17:37

Sunak,The Treasury,& UK investing institutions should be hauled over the coals. At this rate, there won't be a UK stock market to invest in! The Tories have effectively put up a great big for sale sign over UK plc...utterly bonkers

[masurenguy] 18/3/2024 17:31

Todays 6% drop was based on a modest trading volume of less than 100,000 shares. That represents only 0.3% of the shares in issue. There have been no institutional sellers over the past 12 months.

[mfhmfh] 18/3/2024 16:23

CKN is up around 38% in the last 6 months whereas BMS is around 7% down over the same length of time.

[deadly] 18/3/2024 16:00

No positive impact from CKN and no upside from the shipping market. Typical of the market

[masurenguy] 05/3/2024 01:17

Andi Case, Clarkson’s chief executive, said the business noted “significant upside” in the shipping market as disruption in the Red Sea forces the rerouting of container ships around South Africa and the Cape of Good Hope. Case added: “Disruptions to trade routes in any form pose challenges that reach far beyond the world of shipping. The need for the movement and surety of food, energy and goods is paramount to keeping both businesses and countries moving globally.” The Times 5 March 24

The same factors should also benefit BMS. There should be an update on this in the trading statement due later this month.

[hpcg] 04/3/2024 09:31

Buoyancy in energy in particular was noteworthy. I'm not sure it will do much for the share price though, small caps are still becalmed or worse by outflows even if there is a constant stream of refreshment from takeovers. Still there also lies the opportunity as this is cheap as chips. what would more directly make a difference is some upward revisions from brokers. Consensus for 2025, according to Stockopedia data, shows no growth. So we need the company to handily beat and ideally prior project its range upwards.

[masurenguy] 04/3/2024 07:32

Great result from Clarkson. Lets see if there is any positive impact on the BMS price as a read over.

[cwa1] 04/3/2024 07:21

Clarkson's Prelims for potetial read across...

[hpcg] 02/3/2024 21:56

Well the fertiliser carrier hit by missiles has sunk. I really can't see ships carrying on through unless in an escorted convoy. Either way that just means more coordination and uncertainty when it comes to fixing cargoes.

[hpcg] 01/3/2024 17:25

The holding RNS yesterday showed we have a transfer of shares between institutions. We know that some were unhappy about the pay policy, and I'm pretty sure some of these generalist funds don't understand shipping, and all the subsectors within that headline name. I possibly should have taken more this week, I have cashed in some non-movers which have relatively done a lot better than some smalls on the end of institution closures and sales. I would expect Clarkson to tell it like it is, which I would think is extremely positive.

[masurenguy] 01/3/2024 16:26

Shareprice has been rather becalmed over the past month. Clarkson results out on Monday so that might provide some comparative guidance for BMS.

[masurenguy] 12/2/2024 17:16

Should see a year end trading update later next month.

[royaloak] 02/2/2024 16:37

Have to have direct market access to trade this share with the wide spread.

[rabiddog] 02/2/2024 11:48

Bit disappointed with the drop but looking to add as I love the sector. Is it worth paying the premium to go with Clarkson or invest in the potential here…obviously the suspension debacle raises questions about general management. Thoughts ?