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CHG Chemring Group Plc

4.00 (1.27%)
01 Dec 2023 - Closed
Delayed by 15 minutes
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 Shares Traded Last Trade
  4.00 1.27% 319.50 542,311 16:35:03
Bid Price Offer Price High Price Low Price Open Price
320.00 320.50 323.00 314.50 319.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Aircraft Parts, Aux Eq, Nec 442.8M 47.4M 0.1677 19.08 904.61M
Last Trade Time Trade Type Trade Size Trade Price Currency
17:53:30 O 5 319.50 GBX

Chemring (CHG) Latest News (2)

Chemring (CHG) Discussions and Chat

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Posted at 03/12/2023 08:20 by Chemring Daily Update
Chemring Group Plc is listed in the Aircraft Parts, Aux Eq, Nec sector of the London Stock Exchange with ticker CHG. The last closing price for Chemring was 315.50p.
Chemring currently has 282,690,904 shares in issue. The market capitalisation of Chemring is £904,610,893.
Chemring has a price to earnings ratio (PE ratio) of 19.08.
This morning CHG shares opened at 319p
Posted at 26/8/2023 09:47 by essentialinvestor
rim, agree with your view. I closed my latest small trade yesterday above 2.90,
the pattern continues to repeat for now, but had hoped the last statement would
move CHG into a higher trading range. Unfortunately that RNS coincided with weakening
wider equity markets.
Posted at 02/8/2023 12:40 by philanderer
Analysts at Berenberg bumped up their target price for shares of Chemring from 360.0p to 370.0p, pointing out the strength of its fundamentals and labelling the shares as their 'top pick' in the UK defence space.
Posted at 26/5/2023 15:07 by essentialinvestor
Not sure on that, from memory QQ has larger exposure to the UK than CHG -
would need to check though.

And on a LAB government, potential has arguably increased this week
with UK interest rates now looking to stay higher for longer.
Posted at 26/5/2023 12:23 by essentialinvestor
CHG has now retraced very nearly 100% of the Russian invasion re-rating.

QQ results excellent, but on a forward multiple of not much over 13 X.
Posted at 23/5/2023 11:00 by rimau1
2023 isn’t going to be great for Chemring hence the price action. The buy story remains geopolitical headwinds / growing defence budgets (especially) in Chemrings sweet spot (Cyber/Sensor/Munitions) and an eventual sale. Short term we have a dependency on the US which is delaying procurement for various reasons, growing working capital and a significant capex programme and flat earnings growth with a 15x rating. All this should roll off in 2024 and the story will look rosy. One to trade the range if boredom sets in and/or for the bottom draw. I mentioned Cohort a few weeks back which had derated for no reason and that is now back at a similar valuation to Chemring at 14-15x
Posted at 23/5/2023 06:17 by stevenlondon3
Bemused by the weakness in share price over the last year. Keeping an eye on the USA but at the AGM the company reported big increase in its order book. The silver lining must be an increased chance of a bid.
Posted at 22/5/2023 15:51 by brain smiley
Making no share price headway.If defence spending is frozen or cut in USA to achieve a budget deal - how would Chemring react ?
Posted at 01/3/2023 13:43 by essentialinvestor
Rim, sold some over £2.96, but surprised CHG is not trading over £3.10 -
unless the next update disappoints.
Posted at 14/2/2022 17:48 by km18
...a bit dated...

For more than 100 years, Chemring is an innovative solutions supplier for the aerospace, defence and security sectors. The company operates in over 50 countries, working with military, agencies, and businesses, with the ambition of making the world a safer and better place. CHG provides sensors, electronic systems, technology solutions, countermeasures, and other services.
The issue here is history. After prosperous years during the Gulf War it went through 10 tough years marked by bad debt-fuelled acquisition spree destroying the financial position. However. The company turned towards its shareholders, sold off operations and adopted a whole new strategy. Moreover, they have a golden fish under their umbrella in the face of Roke - the cyber security arm. Roke is generating £80m of turnover, compare that to the good assets in the sector EV/Sales average ratio of 5, means it could potentially be half of Chemring’s value, or even more. The prospects of it are also very good as it works with the UK Government and a solid entrance in the big game of US, with contract signed last year.  
Half year trading update presented company’s progress in recent years with performance ahead of expectations. Strong cash conversion and EBITDA 10% above last year interim results show improving quality of earnings. Cash flow was negative for the interim, driven by retirement of debt, which was not outbalanced by the significant decrease in CapEx. This trend in CapEx is expected to reverse as we go through H2. The boost in DPS of 23% is expected to decrease medium-term earning cover. Consensus for FY21 is revised upwards, based on the good performance in H1 and a strong order book of £450m at the end of April....from WealthOracleAM
Posted at 03/8/2021 21:02 by rimau1
Thanks Oilplays and here it is: “Jefferies stated the appealing growth story at Chemring was driven by its Roke units exposure to the cyber-security and AI/Machine Learning market that will improve the overall quality of earnings and positions the group at the leading edge of modern-day security and defence.
The analysts, which also hit the stock with a 370.0p target price, pointed out that Chemring had undergone "a significant restructuring", which had taken the best part of a decade to complete.
However, Jefferies stated the resultant portfolio of countermeasures, sensors, and cyber technology exposed the group to select growth and niche markets, which, in its view, greatly improved its quality of earnings.
Jefferies said: "Based on JEFe (which sit above consensus), the shares trade on an ann. FY22F PER of 16.0x and EV/EBITA of 13.1x, which look cheap vs. UK & overseas peers. We value the group on a SOTP basis (using ann. FY22F forecasts), which is in line with our approach across the sector, with a discrete valuation for Roke (39% of our EV)”
Chemring share price data is direct from the London Stock Exchange

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