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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Braemar Plc | BMS | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 235.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 235.00 |
| Industry Sector |
|---|
| INDUSTRIAL TRANSPORTATION |
| Top Posts |
|---|
Posted at 26/9/2024 09:18 by rivaldo Updated commentary from Master Investor FYI:"Braemar (LON:BMS) – Confident And Resilient Outlook This morning’s Trading Update for the six months to end-August, from the provider of expert investment, chartering, and risk management advice to the shipping and energy markets, declared that that the group had continued to trade well and in line with expectations. The group expects that its first-half revenues will be broadly steady at £75m, while net cash has increased fractionally to £3.3m (£3.1m). It is confident in the outlook for the remainder of the financial year and beyond, as it continues to benefit from its increasingly resilient and focused growth strategy. The group’s forward order book continued to be strong at $80.9m ($67.2m). We should be seeing the actual Interim Results being reported in the middle of November. Indications are that the market is looking to the current year revenues of £153.2m, with operating profit of £18.1m. Analyst Damian Brewer at Canaccord Genuity rates the group’s shares as a Buy, with a 410p Price Objective. He is looking for the current year to end February 2025 to show adjusted pre-tax profits of £15.8m (£16.1m), with earnings of 32.3p (34.2p) and an increased dividend of 13.2p (13.0p per share. The undervalued group’s shares are currently trading at around the 292p level and continue to hold strong attractions." |
Posted at 19/9/2024 06:20 by rivaldo Today's H1 update shows BMS trading nicely in line, and with a £3.3m cash pile and an order book up 20% on H1 last year.Above all, the outlook is confident for this year "and beyond". Canaccord have retained their Buy and 410p target this morning, with a 32.3p EPS forecast, and summarise: "Outlook We think prospects are supportive. Maritime markets are volatile, but we see increasing evidence that an upward part of a ‘super cycle’ has started: This offers support to commissions and FOB prospects (especially on sale/purchase). Braemar has large and growing elements of what is effectively (in our view) ARR in its revenue stream through to 2039 as charters (whether tankers, offshore service vessels, gas carriers, car transporters or bulk carriers) are multi-year - and it gets paid each day they are under charter. We also see support from the trend of longer duration charters – as charterers seek to secure capacity. Advice on new builds can generally deliver multi-year revenue streams and sale & purchase is an area of strong FOB growth for Braemar. To us, this implies more tightly supplied markets, longer-term higher rates for some products and greater value in accessing a broker such as Braemar. This suggests a structurally supportive environment where we think market upside will amplify the self-help and company-driven growth strategy at Braemar. BUY with 410p target Multiple catch-up overdue We believe Braemar investors are set to benefit from a turnaround in business perception. We think Braemar shares offer scope to: 1) close the multiple gaps with peers; 2) generate potential upside from self-help profit compounding (organic and M&A investment); and 3) benefit from sector segment multiple expansion in anticipation of a super cycle. We see scope to reach 410p as the multiple gap with peer Clarkson is eliminated as EPS quality and RoE improve." |
Posted at 05/7/2024 07:09 by rivaldo Dry cargo contributed 14% of revenues last year, and was essentially equal second in terms of being BMS's biggest division (behind Tankers). And that was in a year when dry cargo freight rates were lower - the prior year it contributed 23% of revenues and was not far behind Tankers in being the largest division.Talking about VLCC rates, this from late June is worth noting: "Buy Frontline ahead of VLCC rate rebound to $80,000 per day, says Clarksons Opportunity knocks for investors despite weak summer rates for big tankers Clarksons Securities believes now is the time to capitalise on cheaper Frontline shares ahead of a tanker rate rebound later this year." |
Posted at 16/5/2024 07:40 by rivaldo Newly tipped on Master Investor, primarily referring to the Houthi rebel attacks in the Red Sea pushing up shipping rates:Extracts: "However, the ongoing stress created in re-routing shipping around the Cape has seen costs increasing for both the shipping companies and their customers. That is when companies like Clarkson (LON:CKN) and Braemar (LON:BMS) become extremely important advisors and agents. Volatility and uncertainty in shipping markets is usually positive for shipbrokers. Clarkson stated at its AGM on Thursday of last week that it had made a positive start to the year, helping its clients to navigate the ongoing complexities and disruptions to global trade, by providing the expertise, data and insights to enable them to make the right decisions for their organisations. For both groups their Forward Order Books must have seen some good uplift, the benefit from which will become evident in the second half of this year. Rapidly rising freight rates suggest that fears of delayed goods have kicked off the peak season early this year. Shippers fear major delays on goods due to new supply chain disruptions. This has jump-started the peak season and sent spot rates soaring. Elsewhere there are reports that the market for buying and selling second-hand dry bulk carriers is in the top 20% of the price development since 2000, while for tankers it is in the top 10%. The past six months have seen significant price increases for used dry cargo ships and tankers. However, I now really suggest that investors should keep their eyes on the shares of my favourite shipping services group." "In the last few months, a couple of the group’s competitors have been acquiring stakes in the company – the Peter Dohle Group and Lightship Chartering, both declaring just over 3.0% holdings in the BMS equity. The group should be announcing its 2024 results, which are not expected to see any surprises, before the end of this month. At this stage expectations for the current year to end February 2025, are for £150.2m of revenues and £15.8m pre-tax profits, generating nearly 47p per share in earnings and easily covering an estimated 14.0p in dividend. Last night the shares closed at 295p at which level they are trading on a miniscule 6.3 times prospective price-to-earnings ratio, while yielding a very healthy 4.7%. I believe that they will soon be trading at levels far higher than on 8th January and I have confidence in my aim of early-May at 350p." |
Posted at 08/5/2024 08:17 by rivaldo Cheers Tole - particularly useful info about the two new investors in BMS from the shipping sector. |
Posted at 16/1/2024 09:53 by rivaldo Another plug for BMS from Master Investor:"Master Investor subscribers will already know that my shipping services sector favourite stock is the much smaller £99m valued Braemar (LON:BMS), currently 298p, it is favoured by analyst Ian McInally at Cavendish Capital with a 385p Price Objective, which in my view is conservative. Note that recently another global shipbroking group, Lightship Chartering, has been buying into its equity and rates the BMS shares as being cheaply rated." |
Posted at 10/1/2024 22:07 by mfhmfh Interesting quote in this article from Master Investor:Braemar (LON:BMS) – Competitor Buying Into The Equity With the re-routing of trade routes around the Cape of Good Hope, the global shipping market is now reacting to container freight rates rising for the last six weeks in a row, getting back up to the higher levels of October 2022. It was quite a beneficial share price move on Monday, following the revelation that an ambitious Geneva-based shipbroking company has been putting together a ‘major shareholding’ in the group’s equity. The new holding notification to the market states that Lightship SA has bought some 1m shares representing 3.04%. That is said to be good news for players in the shipping sector, including shipbroker Lightship Chartering, which is 51.5% owned by Danish founder and chairman Morten Have. Sune Fladberg, the private company’s CEO is reported as stating that: “It’s quite simple, we believe strongly in shipping in the near future and are looking for opportunities to invest further in the industry. We think the valuation in Braemar is very attractive at the moment.” I reckon that the Lightship stake was purchased at around the 290p level, so at last night’s close of 300p, it is already showing its holding is well in the ‘swim’. After hitting 310.60p on Monday morning, further price rises to trade well into, the 300p to 350p range can be expected within the next few months. |
Posted at 06/1/2024 14:20 by hpcg One should be invested in both Braemar and Clarkson IMO. Braemar has much greater upside but will be slower to move as it is too small for many investors. Clarkson will gain sooner but has less upside in the medium term. |
Posted at 18/12/2023 08:38 by harry davis I think the Braemar Risk Advisory growth is not being well understood by most who are not invested in this company. I have copied what I have written about itBraemar Securities has quadrupled revenue since FY21 The strategy has also involved developing and bulking out ancillary services for chartering, like Braemar’s Securities offering which has quadrupled over the last 3 years to >10% of revenues, growing from £3.3mln in FY21 to £17mln in FY23 and growing a further 20%+ in the first half of FY24. This is a major opportunity for Braemar, with the securities business really only present in the UK at the moment, but which is a platform that can be rolled out more globally over time. The EU ETS regulation changes coming soon will an additional stimulus to growth, by further allowing Braemar to provide a service for shipping clients to manage the physical purchase of carbon credits in the EU. It would not be surprising to see Securities as a close to £50mln revenue business within 5 to 7 years. I asked Braemar this exact question on their half year presentation call with retail investors: can Securities get to £50mln in 5-7 years? Their answer was that their opportunity set in the UK, Europe, Singapore and other countries can support that ballpark number. The brokers have BMS on only 7.5X what is basically next year's PE, and on my more optimistic forecasts I have it only just 6.0X what is basically 2025 PE |
Posted at 22/11/2023 05:23 by hpcg R.e. corporate actions. We know the new strategy, which is to concentrate on core services such as broking and to expand the coverage. There will be bolt on acquisitions, thank god, so we are invested in a growing company, not a sclerotic dividend payer like so many UK investors seem to favour. |
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