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
  +0.60p +0.31% 193.20p 191.40p 192.40p 193.00p 185.00p 185.00p 2,235,810 16:35:03
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Aerospace & Defence 547.5 3.1 2.4 80.5 540.75

Chemring Share Discussion Threads

Showing 1376 to 1400 of 1625 messages
Chat Pages: 65  64  63  62  61  60  59  58  57  56  55  54  Older
DateSubjectAuthorDiscuss
17/10/2013
14:03
Many thanks kiwihope. The figures looked tolerable to me from the ADVFN financials but your understanding is much more profound than mine. I have learned something.
hazelton
17/10/2013
11:31
Today`s drop... Chemring Group: "Citigroup cuts target price from 280p to 230p, while reiterating its neutral rating" Sharecast.
philanderer
17/10/2013
10:22
At 30 April 2013: Net debt to equity was 62%. I agree this is higher than ideal but it is not critical yet. Current liabilities were £219M, covered by current assets of £362M. In fact current borrowings and trade creditors are covered by trade debtors and cash, without needing to call on inventories. So again, provided the customers pay what's owing, there are no immediate cash concerns. The most important issue is the revolving credit covenant. I'm assuming they're OK with the end-Oct test (3.25x), otherwise I'm sure they would have had to say something in the last trading statement. The next test is end-Jan-14 (3.25x) and then end-Apr-14 and end-Jul-14 (both 3.00x). At 30 April 2013 the ratio was 2.79x. Since then they have said profits are going to be lower. So it is a concern but I expect the FD is watching this like a hawk. And they have explained some reasons why the net debt increased, so hopefully some of these can be reversed (eg. buying bulk stock at lower cost). In summary, the balance sheet is not good, being no better than mediocre. But I think management have things they can do to get through this difficult period. I wouldn't rule out a suspension of the dividend, which could save them £10-20M.
kiwihope
17/10/2013
09:09
Hazelton - covenants, debt to equity ratio, and short term debt.
bookbroker
17/10/2013
08:54
I`m out again this morning.
philanderer
17/10/2013
06:54
I am unclear about the debt problem , what particular bit of it gives rise for special concern ?
hazelton
16/10/2013
22:43
Debts are a bit high for my comfort but there has been a hell of a drop in the price. So worth a dabble in my opinion.
jonntara
16/10/2013
21:45
While I always have sympathy for long term holders, the bottom line is that no matter what the price that the bargain is struck at, 2 parties believe that they are making a wise decision. Only time will determine which is the better decision
erogenous jones
16/10/2013
21:00
Dead cat bounce, these have got serious balance sheet issues!
bookbroker
16/10/2013
17:58
Dipped my toe in today and picked up 1600 shares at 205p. Fingers crossed.
jonntara
16/10/2013
17:44
Yes the deal well received here and in my view at this level well oversold.
yorgi
16/10/2013
16:45
It`s an impressive 10 point swing for a change ;-)
philanderer
16/10/2013
16:22
i just got some for that very reason. saw the dow and thought 'oh yeah CHG' Good luck all
thelongandtheshortandthetall
16/10/2013
15:25
Tracking up well with the big start in the USA.
philanderer
16/10/2013
14:25
Dipped my toe in for a recovery in the share price Time will tell if I am correct. With a well known fund manager leaving, I am mindful that donkey investors will want to find the next fund manager to follow so there will be pressure on the fund to release cash. However, the fund itself so heavily skewed it serves only to betray the idiocy of following a fund manager who has made a name for himself by being a little more right than his peers. I hope that the person appointed to take over the fund will have the courage to balance the holdings. If it means taking a loss, and disposing of shares in chemring, sobeit. I am happy with the price paid today and have a stop loss in place and a target to reach. If the former is triggered, I will sell an if the latter achieved, my stop will be raised. Always happy to run my profits but it has taken me countless years to have the courage to cut my losses.
erogenous jones
16/10/2013
13:18
I know change of FM often sees a spring clean of positions but why is the market assuming this will be the case viz Woodford's funds - the FM taking over has a similar investing style surely? Given the size of the fund and its popularity Invesco wouldn't want the new FM to take a hatchet to all the current and often sizeable positions???
fangorn2
16/10/2013
12:58
Afternoon kiwi, it`s all a bit gloomy isn` it.... FT Alphaville saying there`s some huge Woodford positions to be unwound by Invesco - and that FTSE 250 exit is now looking odds-on - not good.
philanderer
16/10/2013
12:51
Everything is still conspiring to push this down. US debt, Woodford leaving, etc. It gets harder to buy, even when the only thing that has changed is that the price has dropped further. Do those sellers know something I don't? Or am I just an idiot for missing the sell signs? It's getting closer to my nominal top-up level. I was hoping to get next month's update before buying again. We will have to wait and see...
kiwihope
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
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