Braemar Shipping Services Investors - BMS

Braemar Shipping Services Investors - BMS

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Stock Name Stock Symbol Market Stock Type
Braemar Shipping Services Plc BMS London Ordinary Share
  Price Change Price Change % Stock Price Last Trade
0.00 0.0% 260.50 08:00:00
Open Price Low Price High Price Close Price Previous Close
260.50 260.50 260.50 260.50 260.50
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cwa1: Notice of Retail Investor Presentation Braemar Shipping Services Plc (LSE: BMS), a leading international Shipbroker and provider of expert advice in shipping investment, chartering, risk management and logistics services, is pleased to announce that James Gundy, CEO and Nick Stone, CFO will provide a live presentation relating to the Group's preliminary results for the year ended 28 February 2022 via the Investor Meet Company platform on 26 May 2022 at 1:00pm BST. The online presentation is open to all existing and potential shareholders. Investors can sign up to Investor Meet Company for free and meet Braemar Shipping Services PLC via: Investors who already follow Braemar Shipping Services PLC on the Investor Meet Company platform will automatically be invited. Questions can be submitted pre-event via the Investor Meet Company dashboard until 9am the day before the meeting or at any time during the live presentation.
tole: Shipping Services (LON:BMS) – a slow sail awayRevenues for the current year to the end of this month could see at least a 20% rise to £101m.That strong performance has been aided by good markets for its shipbroking activities.Last July the shares of this group hit 323p, easing off to 210p in late November. That they are now up around the 272.5p level is encouraging.The recent Trading Update was good news, but obviously not good enough to power in new investors.That is a shame because I still consider that the shares are well below the valuation levels of its peers, especially the Clarkson group.More to go for.
whittler100: We all have our reason to buy and sell shares in a company; after all, that’s what makes a market. My thoughts on buying into BMS in early December 2021 are shown below; just sharing my reasoning and not a recommendation in any way: When I first bought Clarkson CKN (I no longer hold), they and Braemar BMS were around the 200p mark: Clarkson had sound management that developed the business (now share price around £37). Clarkson has been a very well managed business yet Braemar has lurched from poor acquisition and lack of direction from a rather, now departed CEO. Braemar has a refreshed team now leading the company with the previous head of the shipbroking service, James Gundy, taking over as CEO in January 2021, a new chairman in 2021, and a fairly fresh CFO as of 2019. Poor directors don’t become good directors so a refresh for a turnaround is IMO very important. The new CEO James Gundy does not strike me as a particularly charismatic type but seems to have a clear focus on the direction of the business. The Bull Case: The old management has been jettisoned and a fresh CEO with over 30 years experience in shipbroking, including time at Clarkson’s, is now in charge supported by what appears to be a competent CFO. We in effect have a new broom and let’s hope it’s as successful as Triggers Broom from Fools & Horses. The non-core businesses which were often loss-making and acted as a handbrake on the company have been jettisoned & funds used to strengthen the balance sheet. The focus of the business under the strategy set out by the new CEO is on the core shipbroking and smaller corporate finance operations. I do dislike nil-cost LTIPs but a careful analysis of the terms of the LTIP shows that the management will collect zero rewards unless there is substantial share price movement over the next 3 years measured from June 2021. In order for the full LTIP to be awarded, the share price will have to essentially double by 2024. I am comfortable with this. Should the new strategy succeed then the valuation of BMS will hopefully get a decent percentage gap closer to that of the successful Clarkson which trades on a PE almost three times higher than that of BMS. A clear part of the strategy is the intention to double size of the business within four years via a mixture of both bolt-on acquisitions and organic growth Margin: the current EBIT Margin is 8.6% and forecast to rise to 10.2% by 2024 yet if they are successful then maybe they will get a touch closer to Clarkson’s EBIT margin of 16% Current trading in the subsector, essentially BMS & CKN, are buoyant. In the last 5 months BMS has issued two “Ahead” TUs and the most recent TU says in-line with recently upgraded expectations. In early December CKN issued an “Ahead” TU. Skin in the game: The CEO Grundy owns just over 2% of the business & has recently bought a further 23,000 shares on 3/12/21 @ 210p & the CFO, Nick Stone, bought 10,000 @ 214p. Add to that the number of potential shares awards in the LTIP. I think they have every reason to drive the business and manage it like owners. Any Share dilution? No, the share count has been fairly steady over the past 7 years Dividends: currently set at a handy but not outstanding 2.5% & all being well, it should increase steadily but not IMO be the sole reason to own the stock. The Bear Case: Whilst the new management talks a good fight, they could prove to be as incompetent as the previous management. What if for whatever reason there is a serious downturn in shipping demand and prices and thus commission fall. The Free Float may not be attractive to some investors @ 53% & the spread is wider than that of CKN. All just my thoughts and reasoning as to why I see BMS as a decent long term hold whilst we give the new management time to deliver hopefully following somewhat on the path of the very successful CKN
rivaldo: :o)) Most here will know I'm usually a very, very long-term holder of stocks. But sometimes people change their minds and take profits. Perhaps you'd have preferred to (a) not have known any of the useful info I've posted. Or (b) preferred me to not say anything about selling and then start posting again later saying what a brilliant investor I am in hindsight - as most posters do without any evidence - by saying I actually sold months ago and have now bought back in. It seems honesty and gratitude are passé/unacceptable these days!
tole: Shipping Services (LON:BMS) – at a discount to its peers The recent improvement in the share price follows on after the excellent results from its very much larger peer group player Clarkson. That company's figures have made certain investors realise the discount at which Braemar is trading currently. There should be a bullish Update on the current year's trading being announced within the next two months. The fiscal year ends on 28 February and what an eventful year it has experienced especially in its shipbroking business. After falling away to just 200p at the beginning of last month, the company's shares closed strongly at 271.5p by last night. Is the market now expecting to hear bullish news with its profit expectations being surpassed? I see them over the 300p level very soon, with last year's 323p peak an obvious objective.
rivaldo: I've seen the Buy recommendation in SCSW - was the Growth Company Investor tip also this weekend?
amencorner: Also tipped by Growth Company Investor
whittler100: For any potential investors in BMS, I would strongly advise viewing at least once the recent H1 presentation by the CEO & CFO of BMS on Investor Meet Company & taking notes. Then accompanied by recent trading updates from BMS & CKN, build your Bull & Bear Case to assess the opportunity & of course, risks as we move forward. I posted my fairly lengthy notes on a private site last week. Also just to be clear, I started building a position following that presentation and for now, will sit and wait for a potential rerating possible boosted by an acquisition or two as the deployment of the strategy unfolds. As ever, DYOR
deadly: As usual, strange that it's a tip that moves the share price rather than actual results. Most investors seem incapable of making their own assessments.
thaiger: Spread would put lots of investors off!
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