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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ashtead Group Plc | LSE:AHT | London | Ordinary Share | GB0000536739 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
344.00 | 5.97% | 6,104.00 | 6,062.00 | 6,064.00 | 6,082.00 | 5,808.00 | 5,850.00 | 890,781 | 16:35:16 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Heavy Constr Eq Rental,lease | 9.67B | 1.62B | 3.6961 | 16.41 | 26.54B |
Date | Subject | Author | Discuss |
---|---|---|---|
11/9/2019 18:18 | ...... and the buybacks have resumed. Clearly no-one is paying any attention to fenners posts :-) | perfido | |
11/9/2019 15:11 | ian Mater was very happy with a 6.3% increase in three months. Mater knows nothing of share buybacks but if I explained it to her I'm sure she would agree with me, especially if I told her I was an Elite Guru. | bracke | |
11/9/2019 14:49 | Bracke, It seems that momma bracke has been badly advised on the merits of share buybacks if that's what she believes. | ianwwwhite | |
11/9/2019 14:06 | Good day uppompeii I prefer not to think about it. I suspect that she would be outraged by a company inflating its own share price by buying its own shares. After all the concept of shares is to sell them in order to obtain money to launch and develop the company. A company buying its own shares turns the concept on its head. It has the whiff of nefarious about it. | bracke | |
11/9/2019 13:13 | What does mater think of the buybacks? | uppompeii | |
11/9/2019 12:41 | ian Mater is blissfully unaware of AHT share movements. The decision to sell was based on the situation at the time and I have no regrets. I have made similar decisions in the past and they have been correct. | bracke | |
11/9/2019 12:36 | Good momentum, we'll test 2400 in short order (barring a Trump tweet). I will take some off the table at 2400 but leave a substantial core holding. | hatfullofsky | |
11/9/2019 11:52 | I have held the shares a lot longer than they have been doing buybacks.... As far as deliberately missing the point that a majority vote at a shareholders meeting does not mean it is correct well you can ignore that if you want - you only see what you want to see. Since you know little of DEBS - many commentators were preaching to the unconverted and being ignored that they were paying too much in dividends - years before it went bust and left shareholders with nothing. The fact that the majority passed the resolution - including of course the "expert" institutions - did not make them correct. They were most certainly wrong as were the directors for recommending it. So majority may have thought their dividends issues were done and dusted - but it was instead the company. People make money in the stock market Because they challenge the received wisdom. When a company's actions are no longer challenged it usually ends in tears. Were all the unchallenged directors bonus schemes in house building correct ? NO There are many examples of minority voices which should have been listened to. Before you start with if you don't agree with it sell - a binary and crass statement - AHT gets most things right as the share price has shown. But a 20% increase in dividend base for a company with growing profits and dividends and lower debt may well have delivered a higher share price as well. | fenners66 | |
11/9/2019 11:40 | Just sold a few at 2344p, I imagine that it may go higher, but I'm well satisfied. Still have a holding, still probably in for the long haul.. (IWW) | perfido | |
11/9/2019 11:10 | In the meantime, I bet Momma Bracke is wishing she had held on to her AHT shares, and benefited from Fridays dividend and the current rise? | ianwwwhite | |
11/9/2019 11:07 | Bracke, I thought that we all did, but statements like 'And after buyback the debt covenant test moves to 1.9 to 2.4 x EBITDA' are clearly wrong and shouldn't go unchallenged. It doesn't mater whether we agree or not, the fact is there was an overwhelming majority of votes in favour of the buyback. Seems to me that is pretty final, but apparently not.... | ianwwwhite | |
11/9/2019 10:56 | A higher high this morning and a gap. Off to 2400 or will profit taking be too irresistible? ian Some weeks ago you posted that you would end posting about buy backs? Each to their own. Those in favour and those opposed will not agree similar to Brexit. | bracke | |
11/9/2019 10:36 | I have never held Debenhams shares, but I would guess the moral of your post is that companies should not be encouraged to pay dividends at a level which is not sustainable. In this respect Ashteads policy of paying dividends at a level sustainable through the cycle would appear to be prudent. Turning back to the buyback, fenners, to my knowledge you have been posting your buyback views here since at least 2008 on a regular basis, but nothing has changed. Time to change the record? | perfido | |
11/9/2019 10:05 | And Debenhams shareholders voted by a substantial majority to pay unaffordable dividends for a few years.....did not make them or it, right , as history now shows. | fenners66 | |
11/9/2019 09:31 | Nice to see AHT has set off at a gallop this morning, making another attempt on the '2300' resistance level and currently +66p at 2321p (9.39am) It is also worth mention that the authority to make market purchases of shares under Sect 701 of the Companies Act was passed at the Ashtead AGM yesterday by a substantial margin: Votes for: 329,045,548 % of votes for: 98.37% Votes against: 5,449,717 % of votes against: 1.63% It seems that the anti-buyback brigade are 'wasting their breath' here | perfido | |
10/9/2019 12:11 | The share price has attempted to break and hold above 2300 on four occasions since July. If to-days results and the advantageous £/$ have been unable to bring success one has to ponder what will. The chart suggests that the share price needs to be supported at 2220, failure to hold this level is likely to lead to a drop to next support at 2120. | bracke | |
10/9/2019 11:25 | Could be; but for those of us whom have been shareholders long enough we are well aware of times past when high debt levels led to smashed share prices. Now share price trading at heady levels and debt increasing again - not a surprise that some holders don't like it. I expect at least a 15% dividend increase on the back of better results and the diminished number of shares. However the interest charge above for the higher debt level in the first qtr alone was : £54m-31m-10m = £13m We can therefore forecast at least 4x£13m for the year (and with increasing debt compared to the comparison as it has already been rising, and continued rises with buybacks, we can expect even higher). So that is £52m Ok you may argue there is a tax charge on that 25% so that would still leave a net £39m available for dividends _ and that is the last 12 months debt increase. What would that do for dividends per share ? 39/477 = 8p/share Which is an increase of 8/40 = 20% on current Whereas the "buyback" has reduced the shares in issue by about (not looked this up) 23/500 = 4.6% !! You know which I would rather have !! | fenners66 | |
10/9/2019 11:16 | No hoping my side, just a different approach to cash management. I prefer paying down debt in an elevated valuation and buying back stock in a depressed / undervalued situation. | hatfullofsky | |
10/9/2019 11:05 | A spike on the results but the opposite direction to that expected. I've had a search round various financial sites but unable to find a reason for the drop which is odd as they all report the results as good. I presume it was simply profit taking. Perhaps people were holding for a spike up and were going to sell whatever the result. | bracke | |
10/9/2019 09:10 | hatfull If that's what you are pinning your hopes to, I fear that you will be disappointed. I would expect the buyback strategy to be influenced by free cash flow levels, currently good. In the meantime the AHT webcast is currently in progress - worthwhile if you have the time. (Edit 9.30am: webcast now ended, but recording still available through AHT Investor Relations website) | perfido | |
10/9/2019 09:04 | Hard to reverse such a decision but simple enough not to repeat the programme once complete. Solid results though. | hatfullofsky | |
10/9/2019 08:30 | fenners ~~~~~~~~~~~~~~~~~~~~ And after buyback the debt covenant test moves to 1.9 to 2.4 x EBITDA ??? ~~~~~~~~~~~~~~~~~~~~ Q1 Results - the facts: 'Our increasing scale and strong margins are delivering good earnings growth and significant free cash flow generation. This provides significant operational and financial flexibility, enabling us to invest in the long-term structural growth opportunity and enhance returns to shareholders, while maintaining leverage within our target range of 1.9 to 2.4 times net debt to EBITDA (1.5 to 2.0 times excluding IFRS 16). We spent £125m under our share buyback programme in the quarter, and expect to spend a minimum of £500m on share buybacks in 2019/20.' It was the move to IFRS16 that impacted the leverage target range, and it looks like buybacks are here to stay :-) | perfido | |
10/9/2019 08:19 | They need to stop the buyback programme. | hatfullofsky |
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