Ashtead Share Discussion Threads

[rescuer] 16/10/2020 10:35

just gone short again at £30. seems a bit excessive to me -

i've all but exhausted all my short term research Fenners, any shorts worth looking at ?? TIA -

[fenners66] 16/10/2020 10:28

£30 !

[rescuer] 13/10/2020 17:28

thank you Fenners / Bracke -hope you are both well and making money - stay safe

[bracke] 12/10/2020 13:55

Good day rescuer

I don't use Level 2 either. I use charts and short timeframes to time the purchase.

[fenners66] 12/10/2020 12:52

rescuer - i don't use lvl 2 , my decisions on buying/selling hinge on fundamentals so short term price moves are not the primary concern.
bracke may be of more use to you with that one.....

[rescuer] 12/10/2020 11:22

Bracke / Fenners - my L2 is about to expire on ADVFN, they want £560 for renewal, but found ShareScope (offer £120 a year) and LSE L2 (£270 a year), any suggestions on value and ease of use or are there better platform out there ?? - I have L2 with my IG CFD account, but can't flit between CFD's and Spreads on L2 as one cancels out the other - any direction appreciated

thank you

[perfido] 09/10/2020 17:33

(duplicate post removed)

[dcarn] 09/10/2020 12:35

Ashtead Stock: U.S. Operations Fuelling This FTSE Star’s Shares Higher

[perfido] 09/10/2020 01:16

Bukko

URNA (United Rentals North America) expects to use borrowings under its senior secured asset-based revolving credit facility to redeem the Notes and to pay related expenses.

... as stated in that same announcement above

[bukko] 08/10/2020 11:41

I see URI are redeeming debt: United Rentals Announces Full Redemption of 4.625% Senior Notes due 2025.

[bracke] 08/10/2020 11:31

A new intraday high.

[fenners66] 08/10/2020 09:38

This next snippet is about Rentokil - but I think it illustrates a point about the opportunity cost of the £1bn buyback.

Bear in mind

Ashtead has -
"The weighted average interest cost of these facilities (including non-cash amortisation of deferred debt raising costs) is 4%. "

Including $600m at 5.25%

So on to Rentokil -

" Rentokil Initial (FTSE100: RTO, "the Company"), today confirms the issue of a EUR 600m 8-year bond. The bond was priced at 0.50%, the Company's lowest ever coupon.

The issue will refinance the EUR 350m 3.25% bond which matures in October 2021"


Now Rentokil is an international business and granted AHT does not want borrowings in EUR and income in US $ ....

BUT

with US 10year yield is about 0.75% so there is a massive difference between that and 5.25%

As Rentokil shows us they can double their borrowings and slash the interest cost

I was arguing all along that AHT had a higher interest cost - not just because they needed to borrow an extra £1bn as they had spent it on buy backs - but the cost of all the debt was MUCH higher than it needed to be.

If AHT had £1bn less borrowing - pre tax +£40m
if they saved 3% on the rest - pre tax +£81m

So take 25% tax

Net +£91m / year would have been 18.2 EPS on 500m shares ie before the buyback.

As Rentokil shows - a LOT can be done to cut borrowing costs........

[fenners66] 06/10/2020 20:46

URI closing in on $200 a share - all time high I think

[rescuer] 01/10/2020 12:12

Fenners, the one that i don't understand is Next - i was on the wrong side of a short last month, took the hit, but still looking at the numbers, no idea why it has a mkt cap of £8 billion, they lumped another £1b into their long term debt liabilities and furthermore, the high street is wrecked, they ain't announced any redundancies yet and store closures. Yes they increased heavily with on-line and this is where most of the profits have been generated over lockdown, but i still don't get the valuation... i currently have no position, but i feel they've headlined the positives and well tucked away the negatives, i guess only time will tell,

[bracke] 01/10/2020 11:43

Good day fenners

I have long thought that there should be a mandatory template for company reporting. If the accounting profession wanted any credibility they should have pressed government to pass legislation to enact standardization.

Given that company reporting is compiled by accountants one is lead to the view that there are a number of shysters operating as accountants.

It's obvious that some of the reporting isn't intended to enlighten investors but to confuse and hide as a means of deception.

Looking at the chart and the history of the company I'm not surprised they have things to 'hide'.

[fenners66] 30/9/2020 17:32

bracke - I had my latest moan about reporting "style" over on the Card Factory thread.

I think it really takes the biscuit.



fenners66
29 Sep '20 - 21:13 - 2826 of 2830

What really annoys me about these results, was the presentation.

Second line of what you expect to be the financials is :-
Stores (UK & Ireland) like-for-like
revenue (i) (ii) -4.4% 1.2%

Now I know there are the (i) and (ii)

but then you have to go and look up just what they are supposed to mean, meanwhile
you then have to go down , what 20-30 pages before you reach the "REAL" number

"Stores (UK & Ireland) 85.3 187.0 (54.4%) "

-54.4% so the true sales number was awful.


It used to be that the real figures were presented , with an adjusted figure as the explanation,

Now there is a BS figure and you have to search for the real one.


Its ALL spin.

Sales were a disaster no amount of spin changes that - but these days many companies take investors for mugs publish the BS on the basis that some or is it most , investors cannot be bothered to read through and find the real numbers.....

[fenners66] 30/9/2020 17:30

" they don't like it up em over on the bull thread - ha ha"

They hold on to their fantasies and certainly don't like the pertinent questions...

They probably all worship David Icke or something like as well......

[bracke] 30/9/2020 17:09

That's a good idea. I believe Mr Trump suggested bleach at one time but I don't know what to mix with it.

[rescuer] 30/9/2020 16:32

well alcohol hand wash seems to kill it, so i've taken to drink :-)

[bracke] 30/9/2020 16:15

"We'll never get rid of it under these measures, so we either go into full lockdown, but properly this time, of we go for heard immunity and open up the country, .. i think these are the only options."
=================================================================================

I think neither of these options are acceptable:

Full lockdown - Will hammer the economy and a % of the people will not accept it.

Herd immunity - Will overrun hospitals, cause a lot of deaths and bring massive criticism down on the government.

I think the government are trying to maintain the status quo until a vaccine is ready.

In the meantime get yourself a foil cap.

[rescuer] 30/9/2020 15:57

It'll hit the south esp London within the next week, due to the protests and kids back at school.

We didn't implement the Wuhan strategy at the start, it took them 76 days under military style lockdown, to get rid of it completely.

We'll never get rid of it under these measures, so we either go into full lockdown, but properly this time, of we go for heard immunity and open up the country, .. i think these are the only options.

The worry is bed space is now at a premium again in hospitals, if we struggle with capacity, then the mortality rate will rise, hence why Sunderland Nightingale is prepped and ready to go.

[bracke] 30/9/2020 15:33

rescuer

I just find it odd that the South has been avoiding the latest restrictions......so far. I suspect the problems will continue to occur until a vaccine is available and applied, probably sometime next year.

[rescuer] 30/9/2020 15:15

Bracke, when restrictions were eased, we sort of went out and partied...

It's come back to bite us.... most of the spread tho, is coming from kids at school.

It's real indeed, two of my close friends got it first time around, one was ventilated at the RVI in Newcastle and developed pneumonia, they are both OK now, bit i'd had been out at a gig with them on 10th March, found out they were c19+ on 15th March, had to self isolate for 14 days, 7 days after my start the country went into controlled measures ... i didn't develop the systems btw, but at present we have a major spike in the North East.

[bracke] 30/9/2020 14:15

resuer

A good probability for your AHT short. Another visit to 2730 appears likely where it has had previous support.

Your JDW short is doing well. As for MKS......

All well with me. I was looking at a map showing areas with extra restrictions which in England are all in the North Or Midlands. Why?

I've take to wearing a metal foil cap. My local conspiracy theory group assure me it will provide complete protection against the government rays which distribute the virus.