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Carclo Share Discussion Threads
Showing 17201 to 17225 of 17225 messages
|Bought some more here. Hoping the force is now with this one.|
|It's worth noting that almost a third of CAR's revenues are generated in North America, and CAR's tax rate at 23.7% is quite a bit higher than UK rates as significant profits are generated there.
So Trump's overnight announcement that US corporate tax should be cut from 35% to 15% would be a big boost to CAR. He faces some opposition in getting it through, but it would certainly represent a material windfall to CAR.|
|Yep, new recent highs now - hopefully upwards and onwards to 160p now for starters.|
|Looks like a breakout on the chart...let's hope it can maintain it this time!|
|Nice - a £268,000 buy at 143p just reported...|
|Good to see buying at above 141p now.|
|CAR have just been tipped here - interesting to see the 2018/19 forecast of 15.65p EPS now coming into play:
"2 smart things you could do with £1,000 right now
By The Motley Fool 24 Apr 2017, 16:34
Technical plastic products supplier Carclo(LSE: CAR) issued a trading update earlier this month, with the group delivering good growth after an anticipated strong second-half performance. Preliminary results for the year ended 31 March won't be officially released until 6 June, but here's why I think this could be a great small-cap stock to tuck away for the long term.
Premium car market
The West Yorkshire-based business is the leading global manufacturer of fine tolerance parts for the Medical, Industrial, Aerospace, and Luxury & Supercar Lighting markets. Approximately three fifths of group revenues are generated from the supply of fine tolerance, injection-moulded plastic components, primarily for medical products. The rest is derived mainly from the design and supply of specialised injection-moulded LED-based lighting systems to the premium car market.
The small-cap firm's latest update confirmed that its Technical Plastics division had delivered yet another year of growth and operating margin improvement, with margins expected to be close to its 10% target. The LED division's Wipac business has continued to win new lighting programmes and has been awarded a second mid-volume project on a vehicle for the hybrid market. The win is important for the division as it endorses the company's strategy to move into the mid-volume sector.
Carclo's performance has been impressive in recent years, with revenues rising year-on-year from £87m in FY 2013, to £119m for FY 2016. According to our friends in the City, this figure is expected to rise by 19% for the financial year just ended to £142m, and by a further 11% to £157m by fiscal 2019. The group has also achieved strong levels of growth in underlying earnings, rising by a massive 94% from just 6.2p per share in FY 2013 to last year's reported figure of 10.1p per share.
Analysts' consensus forecasts suggest that earnings should continue to grow at a healthy rate, rising by a further 55% by FY 2019 to 15.65p per share. This leaves the shares trading on a very attractive valuation of just 11 times earnings for the year to March 2018, dropping to just nine times by FY 2019. I currently view Carclo as a buy for growth hunters who don't mind taking on a higher degree of risk at the small-cap end of the market."|
|Nice £327,000 buy at 137.63p just reported, presumably from earlier today with the share price moving up as a result.|
|Update on corporate bond yields and pension situation.
Barnett Waddingham have published their latest quarterly assessment. This shows corporate bond yields have fallen back again since 31st December, from 2.7% at 31st Dec to 2.5% at 31st March (ML UK AA corporates, 15-year), meaning higher liabilities for pension schemes compared to 31st December, but still lower than at 30th September (when the same bond yield was 2.3%).
They do however comment that this higher liability vs 31st December:
"...is likely to have been offset by investment returns over Q1 2017, particularly for those schemes heavily invested in equities."
According to Carclo's annual report, the vast majority of pension scheme assets were in "diversified growth funds" at 31st March 2016.
So perhaps we can hope the deficit position has not got significantly worse during the last quarter (and is considerably better than when they warned on the dividend).
|New Edison note - they go for 13.1p EPS for the current year (and 11.6p EPS for the year just ended), with a valuation range of between 153p-162p:
|Good spot - the share price has moved up subsequently so that may well be the case.|
|Be nice if the 2m trade that just went through was a clearance of an overhang|
The chart still has us above the 250 dma and all lower ones..gla|
|'What does it take to please some people?' :)|
|Thanks p1nkfish - yes I have seen such transfers recently with BILN and STY|
|Lombard Odier may have taken Henderson stock. Volantis personnel moving to LO as division sold.|
|You're right wageslave - must admit, I missed that last one!
Only last November they went from holding 5.4m to 7.9m, to 9.5m in Mar but then reduced as you say last week to 7.2m.
Difficult then to comprehend their strategy...but still hoping they add. Wider point is that we need Institutional support, given all positive analyst coverage.|
|Weren't Henderson reducing in the last RNS?|
|Hopefully Henderson Group will continue to add to help us reach a new trading range.
Judging from today's trades it seems that PI selling is keeping a lid on the share price - hopefully just traders who were waiting for the update.|
|Peel Hunt reiterate their Buy and 190p target today.
Looking nice and solid now.|
|Boadicea - You stold my thunder!
Yes, very pleased to see the 10% margin statement from CTP.
Most of CTP's manufacturing is abroad. That has the effect of increasing the repatriated profits with devalued sterling - but I don't see it being as big an effect upon margin with sales in USD and costs not in sterling?
What does it take to please some people?
In my case, all this growth is all very well but some reduction in net debt, increase in free cashflow and reduction in pension deficit would not be too much to ask?
|N+1 Singer today reiterate their Buy and 161p target.
Their forecast remains at 12.5p EPS this year, and they "feel that there is an attractive investment case at these levels (P/E of c.11x March 18)".|
|That would have been me :)
Like you I'm assuming there's a bit of £ in that, but nevertheless.|
|Some criticism on this board has previously centred on the supposed low margin nature of Technical Plastics. I have always felt this was a little unfair when one considers that much of their product is serving the medical market. However, it is reassuring to see the following comment in the statement - "Technical Plastics has delivered another year of growth and operating margin improvement, with margins expected to be at or close to the Group's stated 10% target."
No doubt the lower value of sterling has helped and looks likely to continue for some time.|
|Excellent year end trading update:
- trading in line with Board's expectations, which should be slightly higher than the market expectations of consensus 11.5p EPS
- Wipac have won a second mid-volume auto contract already, and unusually the statement notes the Board's confidence in its continued success
- TP expansion worldwide is going well
- the two acquisitions have started life encouragingly
A good, solid statement moving into the current year. for which consensus forecasts are 12.95p EPS, with Peel Hunt forecasting 13.34p EPS.|