Bodycote Share Discussion Threads

[epsilon mojo] 23/6/2011 22:27

Clearly oversold, double-bottom on the trend-line & strong recovery by the DOW in late trading - could see a nice bounce here tomorrow am.

Profits "towards the top end of the range of analysts' forecasts" only four months into the year, yet still only trading on a 2011 PE of around 12 - speaks for itself imo.

[epsilon mojo] 20/6/2011 11:56

Couldn't resist that price - in for 12052 at 334p (fwiw).

[epsilon mojo] 13/6/2011 01:59

Not yet valediction but definitely on my watchlist; depends alot on the performance of others really.

[valediction] 12/6/2011 22:29

You in yet EM ?

[wad collector] 28/4/2011 21:39

Never a bad idea to take a good profit.I'm only just in the blue again and would rather sit on my hands a bit longer.

[drectly] 28/4/2011 07:39

sold all BOY throughout the day, yesterday. Nothing wrong with indicated results, but now well beyond target. Will move on for higher yield options.
Good luck to those that keep holding, if the growth rate can be maintained it could still go much higher.

[wad collector] 27/4/2011 08:28

Interim statement well received this morning ; up 6%.Some caution within it as is typical for the Era.

[wad collector] 30/3/2011 11:22

Thats in impressive 2 year chart.Still pretty strong broker sentiment.Might hop out myself.Actually , I am still in the red here having bought yrs ago and will hold.

2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
29-03-11 BUY 68.70 27.00 9.57 85.00 33.40 10.50
The Royal Bank of Scotland NV
28-03-11 BUY 64.52 25.84 9.20 77.29 30.31 9.70
Arden Partners
28-03-11 NEUT 62.01 24.00 9.20 70.02 27.00 10.00
Brewin Dolphin
25-03-11 HOLD 53.00 20.90 8.30
Arbuthnot Securities
25-03-11 BUY 61.70 24.70 9.30 74.60 29.80 10.20
Investec Securities
16-03-11 HOLD 65.06 26.27 9.20 75.63 30.54 9.80

[wad collector] 07/3/2011 13:06

The last fortnights brokers guesses;

2011 2012
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)
Panmure Gordon
04-03-11 BUY 68.70 27.00 9.57 84.90 33.40 10.50
Arden Partners
03-03-11 NEUT 62.01 24.00 9.20 70.02 27.00 10.00
Investec Securities
02-03-11 HOLD 65.06 26.27 9.20 75.63 30.54 9.80
Brewin Dolphin [R]
01-03-11 HOLD 53.00 20.90 8.30
Arbuthnot Securities
01-03-11 SBUY 61.70 24.70 9.30 74.60 29.80 10.20
FinnCap
25-02-11 BUY 58.30 22.90 9.20 66.90 26.30 9.20
Evolution Securities Ltd [R]
24-02-11 BUY 55.00 21.60
Numis Securities Ltd
24-02-11 HOLD 60.00 24.00 9.60 66.70 26.60 10.3

[drectly] 05/3/2011 03:47

and the Inde, also laying the blame for the increased cost of BOY at RBS's door

Bodycote 325p (up 15.8p, 5.11 per cent)

Engineer is one of the session's biggest risers after Royal Bank of Scotland changes its advice to "buy".

[drectly] 05/3/2011 03:40

from the Telegraph market report Fri 4th Nov,

Among the second-liners, Bodycote benefited from an RBS upgrade to "buy" from "hold". "Bodycote's 2010 results exceeded our expectations, but it was the strength of the balance sheet that caught our eye in terms of growth opportunities and the impact on valuation," said the RBS analysts. The shares perked up 15.8 to 325p.

[wad collector] 04/3/2011 11:30

Hard to believe todays rise is just about one brokers note.

I see another one:
S&P Equity Research revised its target price for Bodycote from 255p to 320p. Analysts at Standard & Poors will be looking at volumes growth and operational improvements. S&P expect Bodycote to be reasonably upbeat in respect of the outlook, but also highlight the usual lack of visibility across the group."

There is also an IC article (Can't post but basically a Buy note)

[wad collector] 25/2/2011 17:40

Happy ending today anyway.Reversal of the last weeks slide.

[nellie1973] 25/2/2011 15:45

Tipped in press

[nellie1973] 25/2/2011 13:37

Broker upgrade

[wad collector] 22/2/2011 08:19

Thank you for that history lesson.Does it have a happy ending?

[drectly] 19/2/2011 20:38

you are remembering correctly, but they are worthless now I think
check the old announcements to be certain, the options meant you could get the 40p / share then or the following tax year, plus there was an option to have as revenue or capital gain. Either way you should have received 40p / share at some stage.
The preference shares were a means of delaying payment for tax purposes, just if you wanted to re-invest in bodycote, you would not have enough cash to buy back the shares the company had effectively bought. (OK if the market fell further you could have bought back at a lower price)

Back to 2010, not impressed they cannot say when the results will be announced (next week some time probably). Indiction though they will be good, lets hope they come in ahead of market expectation again

regards drectly

[jadeticl] 19/2/2011 11:19

But did we not also (as part of the 19/11 swap) get preference shares? Am I remembering correctly? OR are such worthless?

[drectly] 11/2/2011 01:51

are you trying to upset me by reminding me of the exercise

exact details check, but basicly they were going to repay 80p / share after selling 25% of the business. In 2008 things got worse quickly and they changed to paying out 40p / share and debt reduction, so far so good and a sensible approach in the circumstances.
Significant restructuring of the business, helped by the strong cash position and hopefully everyone impacted treated reasonably.

Now for me the less clever part for shareholders. They decided to reduce the number of shares pro-rata from 19 to 11. If you had 19 shares it would change to 11 after the payment.
If you took the 40p / share and bought shares you could in theory get back to 19. In practice the price was increasing so hard to do this.

It was argued this meant they could maintain dividends etc. Or if a Director had a bunch of share options easier to get the share price up.

What it meant if you did nothing was you sold nearly half your shares at about 100p each just after the Board had declined 350p / share

So not impressed and only avoided a loss by a lot of share buy back which is time and effort. Plus tax on a payment to get back to where you started.

The upside now, if someone buys the company. Previous offer minus say 25% for the part sold. A lot less shares in issue, so they could pay about 450p and equivalent to the old offer at 350p

Anyway they and the sector are doing very well, so glad I bought back in, but not convinced Directors have shareholder interest as their first priority.

Healthy results or possible T/O could see further gains, or take some of the very good gains the last two years a tough call

anyones thoughts on that appreciated

regards drectly

[jadeticl] 10/2/2011 13:08

I need some help!! Today I calculated my holdings in BOY and discovered they were less than I thought. Investigation showed I had less shares than I had bought. Does anyone know if there has been a consolidation of these shares in recent years as I know I have never sold any?

[wad collector] 07/2/2011 18:16

346.5 was the offer from Sulzer.Ah, the regret...

[jadeticl] 07/2/2011 16:15

Wow, a rise of over 6%. Can anyone recall what the offer price was for BOY that was turned down by the company as undervaluing the company? It was certainly in excess of 300p, and then the share price fell away to below 200p. It has been a long slow haul back, and if my memory serves me well the offer may have been around 330p.

[jadeticl] 07/2/2011 13:25

This link gets me into the web page but the web page is empty, nellie. What am I not doing?

[nellie1973] 24/1/2011 13:22

Broker upgrade