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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Mears Group PLC | MER | Aquis Stock Exchange | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade | |
|---|---|---|---|---|
| 0.00 | 0.00% | 372.50 | 06:44:14 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 372.50 | 372.50 | 372.50 | 372.50 |
| Top Posts |
|---|
Posted at 08/8/2024 13:43 by thebd11 Peel..."Mears (MER LN) (Hold TP 380.0p) Strong 1H24 performance: new guidance drives 9% FY24 revenue increase... 1H24 PBT was £30.5m (+44% YoY), which is slightly ahead of our estimate. Adjusted EPS rose 68% (organically) and DPS increased 28% to 4.75p. The company reported strong cash generation, with average net cash of £66m. There are no major surprises in the trading commentary. We expect investor focus is likely to be on the increased guidance (following another positive trading update in June). The company now anticipates FY24 revenue to be c.£1.1bn (versus our prior estimate of £1.0bn) and adjusted PBT to be £53-55m (versus our prior estimate of £50m). The outperformance is driven by the visibility through FY24 (most specifically the asylum seekers volumes). We increase our FY24E PBT forecast from £50m (cons: £50m) to £54m, to give EPS of 41.1p. It remains challenging to assess when the elevated contract volumes will normalise. However, we also increase our FY25E PBT estimate from £39.0m (cons: £38.7m) to £42m, to give EPS of 32.2p. The shares have drifted down on concerns regarding government asylum policy uncertainties and currently trade on 11.2x December 2026E EPS." |
Posted at 11/4/2024 06:54 by johndoe23 Excellent finals, nice increase in divi, cash pile outstanding. Surely prey to a predator? |
Posted at 11/1/2023 15:38 by sphere25 Price 204pIt might be too early a call this, but there is some out of the ordinary activity on the book at MER, with what looks to be at least one large buyer placing blocks on the bid in icebergs of 8911. A few blocks of 8911 have already been gobbled up at that 201p mark and the order is still sat there wanting more. There is also another 8911 order at 200p. It remains to be seen how big these buy orders are. The book is fluent here and orders can get removed as quickly as they are placed, but it is something worth keeping an eye on when someone starts stepping in with blocks like this, so just keeping a watchful eye to see if there is any follow through. All imo DYOR |
Posted at 14/12/2022 09:57 by sphere25 Two days of decent exchanges here. Over 600k exchanged on Monday and yesterday we saw those stale bulls selling at around that 189p with blocks of 362k, 150k and 100k being mopped up for total exchanges of about 860k.It isn't the blow out volume that can cause a clear out of sellers in one go, but enough to keep half an eye on MER. They are coming in again this morning with a little stream of buys as I type. The order book looks better bid on the book with decent demand from 190p-194p but a 71k sell order sat on the offer at 195.5p so still sellers in size about too. Unsure if this has been tipped with this little stream of buying, but clearly there are some buyers about this week. How about some big follow through buying to cause concern for a bullish move higher in boring old MER. All imo DYOR |
Posted at 08/12/2022 10:02 by sphere25 The upgrades keep coming and they are confident on next year too. Alot of doom and gloom already in the price here.In this challenging environment, not only continued performance, but continued outperformance. Defensive, value, shift from growth to value of late, decent yield, not burdened with debt. They were getting so much work they had to turn it down. There could have been even more outperformance as the last report showed labour issues stifling further growth. After all that, it still doesn't go anywhere - just farts about in a range. Maybe the economic downturn will end up being severe. OBR forecasts for growth: 2023: -1.4% 2024: +1.3% 2025: +2.6% Unemployment to peak at 4.9%. Perhaps all that is miles off the mark with much stickier inflation and higher rates, or higher for alot longer than expected and maybe that also feeds into the likes of MER. If those figures are wrong but not miles out, then there is hope next year for many companies. It is just difficult to call the exact bottom. The wider markets aren't pricing in a severe downturn, that's for sure. It makes you wonder why MER doesn't attract at least a multiple of ten. Clearly not going to get a punchy multiple here, but just looking at some basic numbers: -->Profit to come in at £33.5m -->Average daily net cash £40m -->Versus market cap of £215m It is almost being priced to go bust. Clearly must be missing alot for it not be at least somewhere in that 250p-300p range on a small multiple expansion. I find it hard to not trade these sorts of charts, but I am in, and staying in. Maybe it won't bore your brains out someday and pop sharply higher. Perhaps some stale bulls to clear first. Until then... Yawn. All imo DYOR |
Posted at 03/5/2022 11:03 by km18 Mears Group encompasses divisions providing housing services, where repairs are delivered, and capital works are developed to ensure building safety while reinforcing housing maintenance. Given the ample housing services offered, the firm was able to enhance its diversified funding structure, enabling the firm to derive a robust revenue recovery of 9%, which in turn led to a solid adjusted profit before tax of £25.6m. Considering that the group incurred a loss of £3.4m the previous year, the firm managed to optimise operating activities effectively, supported by the attractive profit rally and followed by a surge of 117% in net cash performance. This plausible market news was positively incorporated into the firm’s P/FCF of 4.6x, which is trading in 4th place within the Professional & Commercial services industry, thus ahead of most competitors. Consequently, it implied that, a wide variety of stakeholders, agencies and property viewers are interested in the firm’s housing services. As a result, EPS growth reached 37.5% and EV/EBITDA grew to 4.66x, capturing organic growth and intrinsic value, hence yielding substantial returns for investors. This evidence is supported by the Dividend yield of 4.55% since the firm has adopted a conservative dividend policy to reward shareholders for their investments. Despite the firm’s emerging financial position, the security is undervalued, illustrated by the P/E of 10.1x, lower than the Industrials P/E ratio of 22.7x, thereby it is expected to surge in value. |
Posted at 17/3/2022 10:46 by sphere25 525k mopped up at 184p. Buyers in size sat there which might provide some confidence for at least a technically oversold bounce here.We were up at near 220p with the market beginning the re-rating on the back of the recent bullish updates...and then... Putin hammered us down. Overdone for more defensive MER? Results are due on 31st March. All imo DYOR |
Posted at 01/2/2022 09:00 by sphere25 Only an acquisition target if I am not in it :-)I can't catch a bid to save my life! Two recent examples of blocks being bought at substantial premiums to the market price at LOOK and SAA and both turn out to be stake builders without a proper (silly merger propositions don't count) all cash offer! They are talking about an offer over at DLAR coming in the next few months, nop....no chance. That looks a takeover or further disappoint so possibly highly binary. Suspicious one too that a large holder would put something like that out too, makes me wary. But over at MER, that is the second upgrade in the space of just over two months. The market is behind the curve here. I think MER are going to outperform this year and there is at least 20-30% upside here once these sellers are cleared. MER is definitely not getting the credit it deserves at the moment but let's see if someone comes in to clear out the sellers. Prone to sharp moves once sellers are cleared but an interesting one to watch through the year. All imo DYOR |
Posted at 07/1/2022 13:02 by sphere25 A little flurry of activity here to take a note of. The market has bid the price up on the back of someone coming in to gobble up 835k and 500k at 190p.Smaller caps had their bonanza last year and then faded as the year went along. It wasn't like MER had the biggest of bonanza moves with the price still significantly off pre covid levels, but it still wasn't immune to the sentiment change. I think it is Primestone at least partly responsible for the weakness too. They cut from 12.92% to 4.99% in late October. There are other minor moves on the register but Primestone was the big mover. Hard to not influence the price when you want to sell that many in an illiquid share like MER. The movement in the chart does tie in with that move too. The price is moving as I type... Keep an eye on 200p for a breakout... I don't know if they are fully out or sold what they wanted to - Premier Miton were on the other end. Fart around in a range here for abit if sellers aren't done, but if they are, then 200p could get challenged. It was Brough at Schroders who said that MER were having to turn work down (stick it in a queue), which ties in with revenue being ahead of expectations. IF it can crack 200p, we could get another spike like the last time. Traded this one loads of times, posts are all above. Easier one to spot anomalous activity on...the best one was 5th Nov 2020 where there was irregular activity on the book and then......fireworks :-) Be nice to get more of those but anywho, let's see if any more whoppers hit or 200p can get challenged. All imo DYOR |
Posted at 16/8/2021 10:23 by sphere25 Significant activity at MER on the back of the results last week. Someone came in for 1m at 185p on the results day and someone has also gobbled up almost 2% of the company at 190p today (1.98m trade at 10:08:57).It looks like Heronbridge are the sellers. They went from 7% to just under 5% recently, unsure if they want to lob the lot (if they do, a few more need placing after today). Fidelity one of the buyers? They are upping their position quite aggressively. Market Cap @ 196.5p is £218m Adjusted profit before tax guidance in the range of GBP23.0-25.5m Full year average daily net debt expected to be GBP25m Is it value though? Highly illiquid share. Chart is range bound, easy to mark out with the psychological 200p being key on the upside. Continued stalemate on these exchanges (with the market happy to trade in this range) or will these exchanges cause an imbalance to allow the breakout higher? It is the type of demand for shares that can cause price moves, but it looks a wait and see if Heronbridge have sold what they want to. All imo DYOR |
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