Ashtead Share Discussion Threads

[ianwwwhite] 12/12/2017 08:01

Good morning fenners

Re buybacks, yes I agree, with the share price so buoyant, I would rather have cash in hand by way of dividends.

Nevertheless, personally I am more than pleased with the results, trends, and outlook.

[fenners66] 12/12/2017 08:00

Allbeit - they will say the adjusted numbers were higher.

[fenners66] 12/12/2017 07:59

Has the second qtr year over year increase in EPS actually dipped from the first qtr?
My estimate for EPS was higher ( when I guessed it 3 months ago).

[fenners66] 12/12/2017 07:53

I had estimated a higher increase in the interim dividend - was looking for 5.9 p
So diverting cash to share buy backs for me is a dissapointment.

[ianwwwhite] 12/12/2017 07:12

Half year results are out:

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Highlights
· Group rental revenue up 20%1
· First half underlying pre-tax profit2 of £537m (2016: £426m)
· £708m of capital invested in the business (2016: £683m)
· £38m of free cash flow generation3 (2016: £20m outflow)
· £298m spent on bolt-on acquisitions (2016: £142m)
· Net debt to EBITDA leverage1 of 1.8 times (2016: 1.8 times)
· Interim dividend raised 16% to 5.5p per share (2016: 4.75p per share)
· Commencing a share buy-back programme of at least £500m and up to £1bn over the next 18 months
~~~~~~~~~~~~~~~~~~~~

As usual Ashtead has delivered great results again, and the outlook is more of the same:

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....As we execute our 2021 plan, we expect a number of years of good earnings growth and significant free cash flow generation......'
~~~~~~~~~~~~~~~~~~~
.

[discodave4] 11/12/2017 22:03

Evening bracke.Did enjoy reading your post 54707, made me smile, didn't understand a chuffing word but still!.Good luck all for tomorrow........is it priced in already?, personally don't think so, but wtfdik!DD

[dcarn] 11/12/2017 21:25

Davidcar7,

You’d be surprised how familiar your AHT story sounds.

Good things come to those who wait.

All the very best for the future.

[ianwwwhite] 11/12/2017 18:28

Thanks bracke

The thing that puzzles me is that despite an intra-day dip to around 2000p and five million plus shares changing hands, we have finished up precisely where we started today at 2019p. Seems a little strange, almost stage managed?

In the meantime disclosed shorts have remained unchanged at 1.01% since the 19th Sept, so no clue there.

Interested to see what tomorrow may bring, broiled bulls, roast bear or boiled frogs? Its enough to turn one vegan!

[bracke] 11/12/2017 17:11

There was an obvious desire to keep the share price from dropping below 2000!

Will the bears try again or will they decide discretion is the better part of valour?
(AHT likes roast bear and is also partial to boiled frog).

Perhaps bears will be better served to let the bulls take it up further before another attempt.

Another All Time Intra Day High 2038.

[ianwwwhite] 11/12/2017 16:49

Nice finish to regain lost ground at 2019p, and high volume, 5 million plus traded.

Now what does tomorrow have in store?

[ianwwwhite] 11/12/2017 14:48

Bracke

Lol! Thanks for your views, much appreciated.

[bracke] 11/12/2017 12:38

Good day ian

The test was not a difficult call but I wasn't certain about the timing. I was going to 'blow my own trumpet' but thought I would save it for a more intricate analysis.

"Do you have a view for the upside potential or are we still relying on my 'to infinity and beyond' aspiration?"
=================================================================================================================

The short answer is no distinct view (misty ball) but us Elite Gurus don't like to admit their lack of foresight. Therefore I will endeavour to provide analysis which most will not understand but which enables me to later claim success.

If the share price is to regain the ML 2100 is likely but 2000 will have to become solid support. If 2000 fails to support then a drop to 1930's becomes a probability.

Those knowledgeable in the way of the Guru will observe that I have given myself room for 'manoeuvre'.

[ianwwwhite] 11/12/2017 11:09

Good morning davidcar7,

Interesting post thanks, and congratulations on your success!
.

[ianwwwhite] 11/12/2017 11:04

Good morning bracke

~~~~~~~~~~~~~~~~~~~~
And back for a test of 2000
~~~~~~~~~~~~~~~~~~~~

Well done, good call, and modestly, you left off 'as predicted'!

Do you have a view for the upside potential or are we still relying on my 'to infinity and beyond' aspiration?
.

[bracke] 11/12/2017 10:58

And back for the test of 2000.

[davidcar7] 10/12/2017 17:09

I am very happy with the closing high of 2019, as my shareholding in AHT is now valued at over £1 million for the first time. My first buy was back in 1994 at 71p and I was holding 100,000 when it dropped to about 2p in about 2002/3. Subsequent horrors saw me holding 300000 when the share price dipped to about 25p in 2009 (approx.) from about 238p in the financial troubles, when I sold 150K at about 35p as I could see 2p appearing again! Since then as we all know the direction has been up, but I proved to myself I was useless at judging when to sell with further sales of 50k at 100p and 200p -leaving me with the 50k I still hold. I made the decision never to sell these last shares, so have not dealt since April 2011. I know I could have still been holding 300k but to be honest I am grateful to hold 50k. I would like to think that there is someway left to go for AHT and I will be there for the ride.

[discodave4] 09/12/2017 23:11

Thanks palwing,Last years pre tax profit LFL was + 9% so if it comes in +19.5% that's impressive to say the least.As previously posted I do not think this will sell on results day.DD

[palwing13] 09/12/2017 20:54

Previous post is in the Telegraph...9 DECEMBER 2017 • 8:30PM

[palwing13] 09/12/2017 20:51

 DECEMBER 2017 • 8:30PMAshtead will post a major jump in profits and revenues this week on the back of increasing structural change in the industry and a boost from the hurricanes in the US.The equipment rental company will report its half year results on Tuesday, with analysts expecting pre-tax profits to be around £509m, 19.5pc higher than at the same point last year.Consensus estimates for revenues suggest they will be 27.8pc up on the same six month period in 2016, at almost £1.85bn.Ashtead has benefited in recent years from companies moving away from owning construction equipment and choosing to rent it instead. It provides kit from construction vehicles to plastic flooring for major events through A-Plant, its UK division, and Sunbelt Rentals in the US.

[r ball] 09/12/2017 16:58

And fx gain. It's the US$ equivalent thats important

[ianwwwhite] 09/12/2017 13:57

Thanks DD, very interesting.

It seems there is a weight of expectations riding on AHT's share price, let's hope we are not disappointed on Tuesday..

[discodave4] 08/12/2017 23:05

Ashtead's (AHT) second-quarter results are keenly awaited. "We expect Ashtead to update the market on the potential impact of Hurricanes Harvey and Irma as well as the recently announced tax reforms in the US," says broker Liberum."On the former we expect Sunbelt to benefit from both the short-term clear-up efforts as well as the longer-term infrastructure rebuild. In this respect we would note that Sunbelt is extremely well positioned to benefit from this incremental demand."

[r ball] 08/12/2017 23:04

Cheers IanI tend to follow momentum and take small gains. If I can make £20 on £8000 in a day then I'm happy. As always: keep a stopLoss.

[fenners66] 08/12/2017 19:42

Highest housing starts since 1959 in Canada , good job we bought a Canadian company then!

[ianwwwhite] 08/12/2017 18:41

RB
Good luck with your trade. 2Q results on Tuesday will be interesting IMHO