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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 | |
---|---|---|---|---|---|---|---|---|---|---|
76.00 | 1.37% | 5,640.00 | 5,642.00 | 5,646.00 | 5,666.00 | 5,548.00 | 5,562.00 | 1,063,970 | 16:35:07 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Heavy Constr Eq Rental,lease | 9.67B | 1.62B | 3.6961 | 15.27 | 24.7B |
Date | Subject | Author | Discuss |
---|---|---|---|
03/12/2018 11:01 | Mr Trump now has Mr Jinping as his new friend. Talk of increased tariffs has ceased, the markets love it and I presume Mr Trump had a few long trades in place. A 100 point gap up this morning and well above 1800. A retrace is to be expected once the initial euphoria subsides and profits are taken. If this is to be a move back to higher levels 1800 needs to hold to act as a launch level following the results. A gap fill would not be appreciated by those who are long. EDIT Ref my first para. "The bad news is that this deal opened a 90-day window to negotiate a deal not just on trade but also on protecting intellectual property, ending the forced transfer of technology, and more. If those negotiations aren’t successful, then it’s tariff time." | bracke | |
03/12/2018 10:23 | Fenner's competition update 3/12/18: fenners.....7p DD4.........6.75p (reiterated 3/12/18) Ian.........6.5p Smcni1968...6p Bracke......6.5p palwing.....7p Looks like it's possible we'll be needing a tiebreaker.. | ianwwwhite | |
03/12/2018 09:33 | No tie, 6.75.Will pm who to make the cheques out to, thank you ? | discodave4 | |
03/12/2018 09:17 | That looks like a desperate guess palwing ! | fenners66 | |
03/12/2018 09:06 | Santa rally starting early? Bodes well hopefully. GLA. ps. Ever otimistic 7p | palwing32 | |
03/12/2018 08:58 | Yes, I used the word 'astute' advisedly... In the meantime AHT has made a great start this morning, looks like it's on steroids! | ianwwwhite | |
03/12/2018 08:43 | So we could have a tie then...... | fenners66 | |
01/12/2018 14:52 | Good day bracke, Well done, 6.5p? ...an astute choice if I may say so. Good luck! . | ianwwwhite | |
01/12/2018 13:08 | Good day ian "However, over the long term, the share price trend is self evidently influenced by company performance and in time any mismatch tends to be reduced or extinguished, by the activities of 'value investors' for example." ==================== Over the long term we're dead! "My view is that at 2400 AHT had got ahead of itself, and at 1750 we have now slipped behind. We will be better able to judge once the Q2 figures are revealed." ==================== Yes I agree but maybe it has to drop lower to draw in buyers. As you post Q2 results may be good enough to send it up; keeping it there is another matter. "On the matter of the 'weight of the divi' I would have thought that you would have formed an opinion when doing 'due diligence' for Mrs B's recent purchase?" ==================== When purchasing for Mater my thought was capital appreciation. I did look at the divi and noted the progression. Not wishing to be considered a grouch I will enter into the festive spirit. You will see my forecast added o the list below. I would have considered a larger figure if the buyback cash had been available for distribution. (You didn't think I would let that pass without comment did you!) fenners.....7p DD4.........6.75p Ian.........6.5p Smcni1968...6p Bracke......6.5p | bracke | |
30/11/2018 22:55 | Of course I liked this bit - "Additional cash would further de-gear the business" I am watching IRV implode under debt once the market turns - debt is a very dirty word. I still think the directors should anticipate this and get paying it down whilst the sun is shining. | fenners66 | |
30/11/2018 20:51 | Nice one SMCNI1968! A great read thanks :-) | ianwwwhite | |
30/11/2018 20:46 | From Numis:AHT is another name that has been severely hit in the recent market sell-off even though performance of the underling business remains strong. Steve Woolf has run through a few bear case scenarios for the FY19-21E period and shown that even on trough earnings the stock only trades on a PE of c15x. Key points around the scenario modelling: Potential peak to trough EPS decline could be 40-50%Capital spending savings versus our current expectations would more than compensate for the lost cash earnings, creating a cash inflow. Additional cash would further de-gear the businessWithin a 1.5x-2x ND/EBITDA range there is significant capital for further M&A, special dividends, or buybacksAt the current price, mgmt could buy-back c50% of its equity using cash generated from the business over the next 2-3 years! What is Different?: The 2008-10 US downturn was brutal for Sunbelt w rental rev -30% and EBITDA -40%. Prices were cut aggressively to maintain a higher level of utilization. Mgmt has significantly more IT and pricing software at its disposal relative to the last downturn and the ability to more effectively redeploy kit given how much more of the country they cover. The market is also now a duopoly with URI which should help stabilize prices. AHT also did not have a presence in Canada in the last downturn. MRO was not a segment for the company in the last downturn and should provide a reliable rev stream even if construction activity declined. We aren't calling the top of the cycle but AHT's current price seems to be!: AHT's 12 month forward PE of 9.9x represents a significant discount to a five year historic avg of 13.7x. Macro indicators can change quickly but US manufacturing PMI scores remain above 55 and the underlying construction mkt has grown by c5% YoY in 2018. Demand for large scale infrastructure projects remains strong. Notable projects include: LaGuardia Airport, Hudson Yards, California High Speed Rail, & The Purple Line project in Maryland. We fcast rev growth of 16% and EPS growth of 30% for 2019. BUY PT 2,800p | smcni1968 | |
30/11/2018 20:19 | Hi Everyone The Fenners 'forecast the interim dividend' competition is proving popular, so far we have: fenners.....7p DD4.........6.75p Ian.........6.5p Smcni1968...6p Bracke......? Everyone else is welcome to join in, may I suggest you copy this post and add your own carefully considered forecast. The prize for the nearest guess? Fenners tells us 'everyone congratulates the winner!', and In this respect I suggest fenners decision is final. Good luck! | ianwwwhite | |
30/11/2018 18:35 | Hi bracke, I think we can agree, the share price rarely reflects 'true value', and where it lags or exceeds this, opportunities are created. ('true value' is the bit you have to work out for yourselves).. However, over the long term, the share price trend is self evidently influenced by company performance and in time any mismatch tends to be reduced or extinguished, by the activities of 'value investors' for example. My view is that at 2400 AHT had got ahead of itself, and at 1750 we have now slipped behind. We will be better able to judge once the Q2 figures are revealed. On the matter of the 'weight of the divi' I would have thought that you would have formed an opinion when doing 'due diligence' for Mrs B's recent purchase? | ianwwwhite | |
30/11/2018 18:04 | 6p interim dividend | smcni1968 | |
30/11/2018 17:58 | Good day ian Unfortunately a company's fundamentals are not always reflected in the share price whether it be for positive or negative. You take what you can get irrespective of what or who has 'done the business' for you. Qtr 2 results may or may not assist, it probably depends on other events. You will remember last time the results were good but 'the market' had concerns about future earnings. Guessing the 'weight of the divi' is not my forte. Attempting to analyse the share price is.....you will note 'attempting'. | bracke | |
30/11/2018 17:02 | Good afternoon bracke, Personally l would prefer to see any rise based on improving company fundamentals rather than the politicians posturing and blather. The impact of the latter two seldom last long in my experience. Perhaps the forthcoming AHT Q2 results will provide a firmer foundation for a share price rally? In the meantime I imagine you are awaiting the outcome of the Trump/Xi Jinping talks before declaring your entry in the fenners 'guess the weight of the AHT dividend' competition? | ianwwwhite | |
30/11/2018 15:23 | I note 'precious' was unable to hold onto 1800 which should come as no surprise given the price action over the last two weeks. I believe Mr Trump is talking to Mr Xi Jinping this weekend at the G20. Perhaps he will Tweet something positive about trade that will sent the markets upwards.....on the other hand. | bracke | |
30/11/2018 09:30 | Thanks hatfull, A useful reminder, and as you point out, the clue is in the '2019/20 with an anticipated spend of a least GPB500m.' I should add that I am neutral on the question of AHT buybacks, I prefer to judge the outcomes over time. | ianwwwhite | |
30/11/2018 09:23 | Based on the last four Interims it could either be Ian (6.5) or Fenners (7). So 6.75 it is. | discodave4 | |
30/11/2018 09:10 | Good morning Fenners, Good enough for me.. | ianwwwhite | |
30/11/2018 08:21 | Fenners is there a prize for the nearest guess? How about everyone congratulates the winner. | fenners66 | |
30/11/2018 07:44 | As per the Q1 update, they seem positive on the Buy Back "Increase and Extend" We have spent GBP300m to date under the share buyback programme announced in December 2017. In line with our capital allocation priorities we have decided to increase and extend our current buyback plans. The level of share buyback will be increased to GBP125m per quarter resulting in a total outlay of GBP675m under the programme announced in December 2017. The programme will be extended for financial year 2019/20 with an anticipated spend of at least GBP500m. | hatfullofsky | |
30/11/2018 00:06 | Bracke Re: 56082 ~~~~~~~~~~~~~~~~~~~~ You should bear in mind that the share price is being assisted by the buyback programme which can't go on forever. ~~~~~~~~~~~~~~~~~~~~ The existing program has a fair way to go yet, if the original target is to be fulfilled. Then of course there is the possibility of it being extended, maybe at the announcement of the full year results....... although I understand this might not be popular with all shareholders! :-) In the meantime this does not preclude the usual payment of dividends, my guess for the next interim, 6.50p per share. Fenners is there a prize for the nearest guess? | ianwwwhite | |
29/11/2018 23:11 | Maybe we could be assisted by an increased dividend then instead ! Guesses for interim dividend this year ? If the buyback is going to have any meaningful effect at all - I am going for 7p interim Anyone care to guess ? | fenners66 |
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