Ashtead Share Discussion Threads

[disc0dave46] 26/1/2024 14:36

Ashteads credit ratings and list of debt:HTTPS://www.ashtead-group.com/investors/credit-ratings-and-debt-information/

[perfido] 26/1/2024 14:31

Great link thanks c_k, much appreciated
.

[c_k] 26/1/2024 14:22

Fitch state that it will be used to pay down other debts and not increase leverage. I assume, but haven't checked, that they have more expensive debt they can pay off. https://www.fitchratings.com/research/non-bank-financial-institutions/fitch-rates-ashtead-senior-notes-bbb-exp-25-01-2024

[disc0dave46] 26/1/2024 14:16

Good day Mr bDon't think you are missing anything! Nothing new, I've lost track of all their current notes and expiry dates.

[disc0dave46] 26/1/2024 14:08

US core PCE for Dec declined to 2.9% v 3% forecast

[bracke] 26/1/2024 13:31

What am I missing?

I understand the reflected glory from URI but the Senior Notes offering is as far as I understand it an exercise in raising money.

'The proceeds will be used for general corporate purposes and to repay part of the outstanding debt'

Is this not just another form of debt? I note there is no breakdown on how the $850 million is to be split between the two reasons for the offering.

[mcunliffe1] 26/1/2024 11:25

Don't knock it fenners. Our politicians aren't patriotic.

Fujitsu earns a significant amount of its income in the UK thanks to fawning politico's. Not the dest example perhaps :-(

[fenners66] 26/1/2024 11:17

Well that was a nice response to the potential read across from URI.
I have to wonder now whether a move to the US market is starting to make more sense.

URI are on about 18.5x earnings
AHT on about 14.23x

Same rating would have us at about £68

Maybe its just temporary market froth , or URI have a better forward plan but there does seem
to be a differential and since the vast majority of earnings are in the USA...

I know that is unpatriotic and motivated solely by self interest - so we should just ignore the idea..
but...

[mcunliffe1] 25/1/2024 18:07

I'll tell the wife :-) I'm a swing trader fenners.

No puppy dave. Spend too much time looking after the daughter's dog as it is.

And thankyou all for your input and decent comments.

[fenners66] 25/1/2024 17:32

Absolutely a nice profit in a week - are you now officially a swing trader ?

[disc0dave46] 25/1/2024 17:12

Yep well done MC.Do you want to buy a puppy?, £500 it's yours :)

[palwing32] 25/1/2024 16:04

Well done MCuncliffe...Nice one. I am still in, albeit with my usual head in the sand approach to trading.

[bracke] 25/1/2024 16:04

Well done MC. A good trade.

[bracke] 25/1/2024 16:03

MC

I suspect it is close to the end of todays rise at 5217. There is the FIB at 5234 but will it reach there today?

[mcunliffe1] 25/1/2024 16:01

I exited at £52.094 at 15:49. Almost £500 profit so cannot complain.

Give the dog a bone from me.

[mcunliffe1] 25/1/2024 15:35

Um! Not as clued-up as you Mr b. (and hello discO). And thankyou for your input.


SP is now 5189 and still rising although slower than in the past couple of hours.

I'm here ONLY for the quick profit not the long-term divi. and at almost £400 profit in one week holding this £5k I think I will exit before the close.

[bracke] 25/1/2024 15:18

Good day MC

I do not seek to advise you but maybe assist in you deliberations.

On the chart below you will see there is a gap to fill at 5098. I have also added the FIB (red) using the recent high and low.

AHT DAILY

[disc0dave46] 25/1/2024 15:14

"Like water off a ducks back."Same here quack quackDecent uptick now :)

[bracke] 25/1/2024 15:11

disc0

"and by association in your case lol, sorry."
============================================

Like water off a ducks back.

[mcunliffe1] 25/1/2024 15:06

Hello Mr b,

you said recently:

18 Jan '24 - 13:57 - 62452 of 62490

Good day MC

I must correct you. I don't predict. I use charts and technical indicators to take a considered view...yes I know; semantics.

To achieve £250 profit you require a selling price of approx £50.60.


Well, the day has arrived. £50.78 as I type this.

I'm unsure I should sell at this point even though a profit is indeed a profit.

[disc0dave46] 25/1/2024 15:03

US Q4 GDP +3.3%, above forecast (+2%) but below Q3 (+4.9%)

[disc0dave46] 25/1/2024 15:01

Zoo - agree, but productions have been delayed was my take on their update. My only concern more recently was the implication that they now factor in emergency type weather events into their financial forecasting - which from my memory wasn't the case previously. So how are they forecasting weather events when billions of dollars in satellites etc cannot accurately predict more than a few days of forecasts?, are they over estimating abnormal events?, prefer they didn't even try tbh.

[c_k] 25/1/2024 14:48

Thanks Disco. I heard the Zoo news earlier today and with what I understand their business is in film post production so it will take longer to get the film business back compared to Ashtead providing the kit for filming. My small concern is that we had a safe pair of hands in Geoff Drabble as CEO and Brendan Horgan is up to the job and the profit warning around film was the route of the problem. With Brendan being in post as CEO since the end of 2019 and being a long time senior officer at Ashtead I do feel re-assured somewhat that he too should know what he is doing. I'm glad to see that AHT has risen but note URI has gone even higher and at another all time high.

[disc0dave46] 25/1/2024 14:25

Good afternoon Mr b

“Indeed it has. Reflected glory”
Or purely down to the Senior Notes offering?

Always a fan you know that, but times are hard for me and the hound (plus one now!), and we can’t afford the privilege of downticking - not due to content I hasten to add but hatred in my case, and by association in your case lol, sorry.

[disc0dave46] 25/1/2024 14:20

c_kPerhaps recent weakness may be associated with some companies within the TV & Film industry are still suffering from a bit of a hangover from the actors and writers strike last year (Zoo digital for one reported today that productions have been delayed). The strike was partially blamed for them downgrading guidance in November. That said from the article below, it's suggesting things are definitely picking up in "North Hollywood" (ie Canada film industry).Who knows!HTTPS://www.cbc.ca/amp/1.7068230