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 Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.20p -0.10% 192.60p 192.00p 192.60p 195.00p 192.00p 192.00p 283,015 16:35:08
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 547.5 3.1 2.4 80.3 539.07

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
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
11/10/2013
22:49
Kiwihope. I agree with your method. I am not holding yet, but may start to dip my toe in on Monday and if it falls further may top up again.
jonntara
11/10/2013
16:58
phil ... you mean 2014!
kiwihope
11/10/2013
16:44
Can`t see where the upside comes from before the November trading statement, but will keep a close watch. Luck to all.
philanderer
11/10/2013
15:53
Get ready for another nastier warning. Them anal ysts say HOLD they would after they said BUY at £3.40 and above.
hvs
11/10/2013
15:25
We will have to agree to differ Salpara... I don't really care which way the share price is moving. I just try and buy low and sell high. I've never been any good at timing. I've bought before when the share price appears to have stabilised and started rising and I've thought all the bad news is out, only for it to fall again! So I now only look at the absolute prices and relevant news/data and buy if I think it's under-priced. If it falls another 15% or so I have another look and may buy more or sell the lot, depending on my assessment at the time.
kiwihope
11/10/2013
15:12
It is always better to miss the first 5-10% of any rise and know that you are buying into a rising stock than to try and pick the turning point. There are still uncertainties concerning the debt level/covenants here and if the share price were to drift back a bit more then it could well lose its FTSE 250 place which would put further selling pressure on if the tracker funds thought it was going out. All in all the risks still seem to be to the down side but I fully accept that there may be a bit of a bounce from today's low.
salpara111
11/10/2013
14:51
Trouble is, if you wait until things look to be improving the share price will already be on the way up. I have ridden this up twice now and sold, first when the aborted takeover bid was announced and a couple of months ago when it hit 300p. I reckon it was overvalued a bit at 300p so I top-sliced. I reckon it is undervalued now - forecasts are still for around 20p eps which is a PE of around 11. Considering the scope for improvement in trading, I don't think that is too rich. OK it may take a while, but I've found from experience it is usually better to buy the first time you think it's cheap, than wait and try and time an entry point. I'm sitting on a lot of cash having sold 50% of my holdings as the market's risen this year, so I have it to invest, with a good amount left over for other opportunities.
kiwihope
11/10/2013
14:35
Well, no dead kitty bounce yet! Still think that it may find support around the current level but don't see the point in taking a long stake now, better to wait and see what the next few months bring Vis a Vis convenant testing etc. I am keeping them on my low level watch list so will monitor from a distance going forward.
salpara111
Chat Pages: 65  64  63  62  61  60  59  58  57  56  55  54  Older
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