Chemring Share Discussion Threads

[philanderer] 19/7/2013 11:56

Got it .... it`s a downgrade earlier today from UBS.....


"....UBS has downgraded its recommendation for defence technology firm Chemring from 'buy' to 'neutral' on the back of cuts to short-term profit forecasts.

"The broker has reduced its target price from 360p to 330p after lowering earnings before interest, tax and amortisation (EBITDA) estimates for the years ending October 2014 and 2015 by 11% and 13%, respectively. "Our new forecasts reflect a lower base of underlying EBITA in FY13 than we had previously forecast and the restructuring plan presented at H1," UBS said.

[philanderer] 19/7/2013 09:18

Cheers warranty , I`ve looked everywhere and can`t find a thing , not even a read across from a foreign company with news out.

Top faller today still......

FTSE 250 Fallers

Chemring Grp. (CHG) 310p -3.46%
Hochschild (HOC) 141p -3.36%
Lonmin (LMI) 295.2p -2.8%
Evraz (EVR) 99.85p -2.59%
Jupiter Fnd (JUP) 321.9p -2.4%
Countrywide (CWD) 594.5p -2.38%
Kazakhmys (KAZ) 255p -2.34%
Crest Nicholson (CRST) 340.5p -2.32%
Polymetal Int (POLY) 569.5p -2.32%

[warranty] 19/7/2013 09:02

Phil, just a little profit taking after such a good week, no worries there and surely a show of strength longer term, no straight lines and all that. Happened last week too so soon be on the up again.

[philanderer] 19/7/2013 08:54

So what caused that ? Broker downgrade somewhere ?

[freddie ferret] 18/7/2013 16:18

I still say this has broken out and wish I was in.

[philanderer] 18/7/2013 16:18

Up with the general market this afternoon... 200k traded

[philanderer] 16/7/2013 20:40

Agree with that freddie, looking pretty good here.

[freddie ferret] 16/7/2013 18:24

Sorry but I do not talk book. I post what the evidence seems to me to be pointing too. What happens afterwards is up to the market to determine. This IMHO has broken out.

[philanderer] 16/7/2013 16:14

That didn`t help at all freddie ;-)

[philanderer] 16/7/2013 14:09

News release

16 July 2013

Anti-swarm capability key goal of collaborative work

Raytheon Company (NYSE: RTN), acting through its Missile Systems business, and Chemring Group (LSE: CHG) are finalizing plans to conduct a live missile firing of the multirole CENTURION® launcher at the Defence Training Estate on Salisbury Plain during the fourth quarter of 2013.

"Our plan is to launch a missile to help prove our capability against a maneuvering surface threat such as a fast, swarming attack craft," said Rick Nelson, vice president of Raytheon Missile Systems' Naval and Area Mission Defense product line. "Chemring's CENTURION® launcher, coupled with a number of Raytheon's combat-tested missiles, brings an entirely new dimension to ship self-defense to provide a sea-based, inside-the-horizon platform protection system."

full:

hxxp://www.chemring.co.uk/media/press-releases/2013/16-july-2013.aspx

[philanderer] 16/7/2013 14:01

FWIW

Brokers since Half Year report...

9th july Espirito Santo buy tp 360p
1st july Investec buy tp 335p
21st june JP Morgan overweight -
19th june Liberum hold tp 270p
18th june Prime Markets sell tp 213p

18th june ++++ Half Year report ++++

[philanderer] 16/7/2013 13:38

Bought in here for the first time this morning . .. chart looking good.

Luck to everyone.

[warranty] 15/7/2013 17:28

Could be some bid activity causing this rise at this price CHG surely must be a take out target with some of the world leading, high margin technology they have?

[warranty] 11/7/2013 18:27

Great looking chart now, if we can break 300p and stay there and suffer no more bad news we should see continued gains, this is still very cheap on a long term view and once things pick up again and the errors of the previous management are repaired we should see profits grow back to normal levels again along with the share price

[warranty] 04/7/2013 13:39

Starting to look good now forming a nice little up trend.

[sturmey] 20/6/2013 12:09

Excellent comment warranty. My feelings exactly.I could not have put it better myself.

[warranty] 19/6/2013 17:52

You keep that short open Sal you're doing a cracking job. This is basically a well run, profitable, market leading company with high barriers to entry and management are doing the right things getting everything out in the open and shaving, not removing, the dividend. Excellent management in my opinion and I think that is what the market sees. Once defence spending recovers so will CHG so I'm prepared to wait and hold and so it seems are plenty others.

[salpara111] 18/6/2013 16:18

Really surprised by the price action today!
Might have been a little hasty with the short but not going to close it yet!

[kiwihope] 18/6/2013 15:33

Big turnaround in price. Wonder if there's any particular reason?

[salpara111] 18/6/2013 09:46

Surprised it did not get marked down more heavily but this has given me the opportunity to open a short.

[bigbertie] 18/6/2013 09:03

So things are still bad, the second half will see more re-organisation, no prospect of an early improvement in US defence business, and the full year results will be poor (my interpretations). However they are still soldiering on and even paying a (reduced) dividend. I dumped these some time ago when they were falling but then imagined I saw a recovery coming and bought back - what a mistake. Time for a difficult decision.......

[warranty] 08/6/2013 09:55

Well I'm certainly no chartist but the higher highs and higher lows at least look encouraging. All we need now is for a positive results statement and we should see improving fortunes in the share price

[yorgi] 05/6/2013 11:17

Yes it will Warranty I agree. I'm still surprised that we have dropped away but not by a lot and it is a decent size contract.