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Share Name Share Symbol Market Type Share ISIN Share Description
Chemring Group Plc LSE:CHG London Ordinary Share GB00B45C9X44 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.40p +0.22% 178.80p 179.20p 180.40p 181.00p 178.40p 178.60p 1,142,680 16:35:15
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 297.4 -40.8 -37.8 - 500.66

Chemring Share Discussion Threads

Showing 1351 to 1374 of 1625 messages
Chat Pages: 65  64  63  62  61  60  59  58  57  56  55  54  Older
DateSubjectAuthorDiscuss
15/10/2013
23:48
Fangorn mentioned last week that Neil Woodford overlooks many of Invesco`s funds - Invesco hold 25% of Chemring. Announced today that Woodford is leaving Invesco - seems to coincide with the afternoon fall "Woodford sends ripples though market" The departure of the star fund manager hit a number of London-listed companies Shares in those businesses in which Mr Woodford has built up significant holdings fell sharply in afternoon trade on concern about the potential consequences of his departure. BAE Systems, for example, lost 4.6 to 439.2p, Capita dropped 36½ to 970½p, Drax Group closed 20 lower at 639p and Rentokil Initial finished 3.2 cheaper at 107.9p. Dealers attributed the falls to market worries that funds currently run by Mr Woodford may be hit by investor redemptions and so stakes would be sold down to satisfy demand. The popular manager has a loyal following in the investment community and his departure could prompt investors to withdraw money. Traders added that his successor, Mark Barnett, may hold a different investment view to Mr Woodford and decide to trim back some holdings. Either way, the cutting of positions would put downward pressure on companies' share prices. HTTP://www.telegraph.co.uk/finance/markets/10381411/Woodford-sends-ripples-though-market.html
philanderer
15/10/2013
23:18
Investors Chronicle tuesday 15th october "Chemring shot down by US shutdown" It's almost a year since chief executive Mark Papworth took command at Chemring (CHG) after a series of profit warnings forced out David Price. But while the new boss has made some big changes, the underlying business continues to struggle and has flushed out the first profit warning of Mr Papworth's reign. Orders from the US are being held up while politicians haggle over the Federal budget, and Chemring has suffered further quality and production issues, particularly at countermeasures business Kilgore. A strong dollar is shrinking the value of US profits when converted into sterling, too. In all, management reckon this trio of events will wipe £8m off operating profit this year, and they expect next year to be even worse. Liberum Capital slashed underlying EPS estimates for this year by 16 per cent to 20.2p and by 24 per cent for 2014 to 19.9p. And with little covenant headroom on its loan notes, the broker thinks further dividend cuts are possible. Thankfully, the Middle East countermeasures contract did arrive in time, and details of a new business plan will be made public alongside a trading statement next month. IC VIEW: It's bad luck that the US shutdown came in the last month of Chemring's financial year, but operational failure is not, and the company already has a reputation for being accident prone. But after plunging over a quarter to 215p, the shares trade on 10.6 times forward earnings and are now - perhaps only temporarily - oversold. Hold. Last IC view: Hold, 319p, 17 September 2013
philanderer
15/10/2013
15:35
lol !!!!!!! Why take it OUT ??? Why . Watch OUT for yet another profit warning they always come in threes.
hvs
15/10/2013
14:56
It might not be a good time to sell. They could get taken out at this level. They are much cheaper now than when the other approach was made.
broadwood
15/10/2013
14:46
Now the yanks are getting pessimistic about the debt talks and ... CHG starts falling!
kiwihope
15/10/2013
11:48
Hopefully the share price has hit bottom at 210,so will not drop much more Kiwi,and if the Debt Ceiling is done then it should rise,but the November figures,will determine the share price after the announcement.Looking for 260,if figures are better than expected,all the bad news is out I hope.
garycook
15/10/2013
10:03
I haven't bought any more. It didn't drop far enough - my buy yesterday was around 230p. Too high as it turns out but I needed to see another 15-20% fall to buy more (195p or lower). Maybe it will get down to that in the future(!!) but I try and be disciplined so that I don't end up with too many. Ideally I also would like to see their closed period trading statement.
kiwihope
15/10/2013
09:52
Small parcel for me too Gargoyle - hopefully not a dcb :-)
philanderer
15/10/2013
09:21
Couldn't resist some at this level. Great long term support. Tight stop loss though.
gargoyle2
15/10/2013
09:18
Hopefully good timing GC..... luck to you. I`d like to buy back in but might well now wait for those november figures, or maybe 50/50
philanderer
15/10/2013
09:09
Just purchased back 2306 at 215.4 after selling at 3.05 recently.Must be a value play here.
garycook
14/10/2013
20:53
Tonight`s market cap is just under £410m. Automatic exit from FTSE 250 at present is £395m..... would equate to share price of appx 204p.... which ain`t that far away. Could be part of the reason for the large traded volume today with trackers dumping before the demotion ?
philanderer
14/10/2013
16:54
Fair points kiwi... I`m looking for a reason to buy :-) 4 million traded today, another 4% down and Invesco sold 500k friday , still holding around 25% though. Interesting thoughts here from Financial Orbit: "...Looking at a few numbers, the above guidance would imply the company would be likely to be generating about £60m+ in operating profit. This gives the company an EV of £700m (£425m market cap + £275m in debt), so around x11-12 EV/ebit. This is not classically cheap but clearly the company is likely to be at a low point of its business cycle and historically has generated much higher profits. "I note also that the company's net debt:ebitda ratio is x2.8 or near an important x3 covenant which leads to higher interest rate costs. This seems a bit high to me and - given the above - this is the key ratio I will be focusing on in their formal full year numbers in November. "Net net, I like the share price chart, I note some useful positions in defence markets and a £700m order book (equal to the EV of the company). However I want to see a few more numbers, particularly on the debt progression side. "Previous share price troughs tell investors that they have time to work with this one. It is firmly on my watch list, but not my buy list, today consequently." HTTP://financialorbit.blogspot.co.uk/2013/10/chemring-embrace-weakness.html
philanderer
14/10/2013
16:48
phil... There is more than one thing at work here. Obviously the profit-warning, which is made worse by management saying that 2014 result will probably be worse than 2013. That's a fairly long-term warning. Secondly the US debt ceiling and shutdown mess. With lots of US earnings, CHG would always be hit by this. Thirdly the cuts to US defence spending; again CHG is being hit hard by this. And finally the self-inflicted wounds due to too much fat and loss of focus built up in the mid to late 2000s. Life was too easy then and they're now paying for it. Don't focus too much on the share price. That's not a reason to sell.
kiwihope
14/10/2013
16:31
You have to go back to june 2006 for a shareprice of around 210p . I`m basically an optimist but this is starting to look a bit on the alarming side.
philanderer
14/10/2013
16:27
On a long term view this has to be cracking value at this level, CHG is a serious company with blue chip customers but the way things are it may get even cheaper yet?
warranty
14/10/2013
12:25
Well, the technical support line has gone so I have no idea where this might settle. I took my spread bet profit and went long on Moneysupermarket yesterday as it was sitting at a one year low, looking for a return to the 180 region there for a 37 point gain, backed by a decent divi so downside risk limited.
salpara111
14/10/2013
10:03
Something gone wrong with my posts - not getting all of it!
kiwihope
14/10/2013
10:03
There's no doubt that the convenants are a worry, but I don't think they are an immediate one. Their next testing date is this month, presumably on full year figures. If there was a chance they would be breached I would have expected some statement in the trading release just made. It is after all price sensitive information, and they must know by now with only 2-weeks to go to year end. Of the two covenants the revolving credit facility looks the tightest. For October net debt to EBITDA has to be
kiwihope
14/10/2013
09:50
There's no doubt that the convenants are a worry, but I don't think they are an immediate one. Their next testing date is this month, presumably on full year figures. If there was a chance they would be breached I would have expected some statement in the trading release just made. It is after all price sensitive information, and they must know by now with only 2-weeks to go to year end. Of the two covenants the revolving credit facility looks the tightest. For October net debt to EBITDA has to be
kiwihope
14/10/2013
09:16
Morning kiwi , it`s the bank covenants that are the huge worry now. I doubt they`d get away with a rights issue unless it was incredibly discounted and that would really annihilate the shareprice.
philanderer
14/10/2013
09:09
These things always go in cycles. Being into American defence is obviously not a good thing at the moment, and for a while to come yet. But a year or so ago civil construction wasn't any good either. Before than property and housebuilders. But look at PSN and LAND and CLLN now. I believe CHG is a basically solid company with some problems that have only recently come to light, because it was in a previously booming sector which masked its shortcomings. The defence market is much tougher now and CHG had grown fat and lost its focus. These things take a while to fix. If I'm right then with good management, and maybe a bit of luck on the economic side, in a couple of years time the outlook might be looking better. On the other hand, if I'm wrong and CHG was never a 'good' company, then it will never recover. That is the risk...
kiwihope
14/10/2013
08:39
Liberum retaining 'hold' but whacking it`s target down from 270p to 205p
philanderer
12/10/2013
00:44
kiwi, a bit optimistic I know , but I was referring to this from Friday`s RNS.. clutching at straws for it to contain something a bit more positive than expected ;-) "..At the interim results presentation in June, Chemring announced that it was initiating a comprehensive planning process which would give a better understanding of both the markets in which we operate and our business strategy for the next three years. This is being prepared in conjunction with a detailed budgeting exercise for FY14. Early indications, given the continuing difficult market conditions, are that FY14 performance is likely to be less than the anticipated current year outturn. We will outline the initial findings of this process in a post close trading statement, which is expected to be released in November 2013"
philanderer
Chat Pages: 65  64  63  62  61  60  59  58  57  56  55  54  Older
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