Share Name Share Symbol Market Type Share ISIN Share Description
Chemring Group LSE:CHG London Ordinary Share GB00B45C9X44 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.00p -1.43% 137.60p 41,143 11:08:36
Bid Price Offer Price High Price Low Price Open Price
136.60p 137.80p 139.20p 135.60p 139.20p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 297.40 -40.80 -37.80 385.1

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Chemring Daily Update: Chemring Group is listed in the Aerospace & Defence sector of the London Stock Exchange with ticker CHG. The last closing price for Chemring was 139.60p.
Chemring Group has a 4 week average price of 135.60p and a 12 week average price of 135.60p.
The 1 year high share price is 239.50p while the 1 year low share price is currently 135.60p.
There are currently 279,893,222 shares in issue and the average daily traded volume is 341,167 shares. The market capitalisation of Chemring Group is £385,133,073.47.
mj19: Chemring Group plc 9.8% Potential Decrease Indicated by Barclays CapitalPosted by: Charlotte Edwards 12th October 2018Chemring Group plc using EPIC/TICKER code (LON:CHG) has had its stock rating noted as 'Downgrades' with the recommendation being set at 'UNDERWEIGHT' this morning by analysts at Barclays Capital. Chemring Group plc are listed in the Industrials sector within UK Main Market. Barclays Capital have set their target price at 185 GBX on its stock. This now indicates the analyst believes there is a potential downside of -9.8% from the opening price of 205 GBX. Over the last 30 and 90 trading days the company share price has decreased 8 points and decreased 27 points respectively. The 52 week high share price is 239.5 GBX while the year low share price is currently 163 GBX.
betman: No rumours I know of but the facts are : this is down to 2006 levels and I think could have reached a bottom before recovering slowly. I think with Russia, Ukraine, Iraq, Syria, Gaza amongst others , more defence cuts may be premature. Troop withdrawals from Iraq and Afghanistan led to real falls in defence expenditure and explain share price drop.
bogotatrader: Any buyer (US?) would wait for a potential further profit warning in the next couple of months and then might consider if the share price was between 100p - 150p...all imho...
philanderer: Citigroup this morning on the sector... "... We expect defence budgets in the US and Europe to stay roughly flat over the coming years. The recent US debt ceiling deal has removed some immediate risks overhanging US defence, although these are likely to re- appear early next year. Given tough budgetary conditions in the US and Europe, large export contracts are likely to become important catalysts for Defence share price performance, in our view." HTTP://
philanderer: 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://
kiwihope: 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.
bigbigdave: One of the Sunday Times' pick for 2013 The group, which makes battlefield flares and missile decoys, has had a very tough 2012. A shock profit warning was enough to force Carlyle, the American buyout group, to rethink its takeover attempt and head for the hills. Defence cuts at home and in America, coupled with operational weakness, left Chemring's shares down 38% in 2012. The stock, at 227.5p, is trading at about half the 52-week high. The good news is that Chemring has brought in a new chief executive to turn round the business. Mark Papworth, who joined from John Wood Group, will outline his strategy when he reveals full-year results on January 24. Chemring's markets are likely to remain challenging but much of the bad news has already been priced in, so Papworth might not have to produce a miracle to make a difference to the share price. The company has good technology and is a big player operating in a niche area of the military equipment market, which some City bankers believe is ripe for consolidation. It also has a large shareholder - Invesco, with a stake of almost 30% - that is a willing seller. Carlyle, or some other predator, may fancy another crack at Chemring.
simon gordon: Liberium: Following the profit warning on 1st Nov, the company has announced an 'in line' year end statement. However, having spoken to the company, it appears consensus will settle around 29p from a range of 31p- 34p from those who published post the last warning. The order book is down 13% to £760m. Our FY'13 eps estimate will decline by c 25% to 27p. FY net debt is £250m (10% worse than we estimated). Next year requires a focus on strengthening the balance sheet. Admission of weak operational performance and poor expectation management is the first step to recovery. The Chairman and new CEO recently bought 50,000 shares each. The investment case now hinges on what can be done by the new CEO to limit the effects of cyclical decline and improve cash generation. Valuation looks attractive but we can't rule out further downgrades. Bull scenario – The new CEO deploys his experience to turn the business around with a focus on cash generation. The Chairman did so with Anglian Water. A trade buyer may emerge once there is certainty on US defence budget cuts in Q1.  Bear scenario – New management may find more skeletons. US sequestration (or resulting required defence cuts), combined with ongoing withdrawal from Afghanistan, will further impact this short cycle business.  Valuation reflects ongoing uncertainty – The investment case now hinges on what can be done by the new CEO to limit the effects of cyclical decline and improve cash generation. The shares now trade on a CY13 P/E of 8x but cannot rule out the possibility of further downgrades. We remain at Hold while we await details of the improvement strategy. ==== 27p next year makes it look like there ain't much more juice in the share price until late January, with a high risk of rubbish to emerge from the half a billion of companies acquired. I've taken my profits. Good fortune.
simon gordon: ards, You have a point, CHG spent a lot of money on acquisitions and maybe some of them will turn out to be rubbish, they could have been hidden up to now. When a share price crumbles like this you never know what can come out of the woodwork. That's why it's best to be very cynical. "You only find out who is swimming naked when the tide goes out" Warren Buffett
aleks_atanasov: "The Fact that Chemring issued the statement about Carlyle after a jump in its share price last week suggests "a reasonable chance that the bid does not materialize," according to UBS. " hahaha! man what an idiot no wonder he doesnt trade for his own account, whether a company issues RNS because of a press report, a share price rise or because more people will get involved in the negotiations doesnt predict or even suggest an outcome! If this guy worked for me i will tell him to pack his porn DVDs and go
Chemring share price data is direct from the London Stock Exchange
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