Costain Share Discussion Threads

[catabrit] 02/12/2023 01:02

To paraphrase Buzz Lightyear;

To 120p and beyond!

I jest. I am sure it will ebb and flow but I think we’re looking good for a very big year in 2024.

I want to say congrats but to be honest, we’re very early innings in the rebound here so I’ll save that for when we breach 100p.

Considering the fundamentals, I think a few people will be kicking themselves for not going long when this was trading at / below net cash. So it goes!

Let’s see. The thread is a good historical record.

Cheers guys.

[this_is_me] 01/12/2023 21:15

This is looking like a serious breakout now.

I've had mine for just over a year so I am very pleased - good timing for once.

[ttny2004] 30/11/2023 15:16

Yes, there she blows.Been well overdue.Like fishing. Good things come to the patient although it has certainly tested my patience over the last couple of years.

[pinemartin9] 30/11/2023 15:06

Major breakout!

[sphere25] 30/11/2023 14:12

It might be through key resistance this with the price at 62.4p.

It is still early though. This moves like SRC, they both do similar things where you have lumpy and sharp moves on no volume, and the order book can look strong like it is looking now (stacked at 61p on the bid in increments to 62.2p), but then it can turn and all change with the price sticking its head above resistance and the price falling back down.

But it looks like it has a chance here.

Don't breathe!

All imo
DYOR

[roguemale1] 30/11/2023 08:53

Hi Catabrit, yeah enjoy. I'm heading back UK tomorrow.
Holding core and added back a few actually a couple of days ago.
As far as I can glean all steady as she goes on sites. A possible trip hazard on one of the road jobs now good.
Hopefully some new money coming in will keep it easing forwards towards YE.
Cheers all.

[catabrit] 30/11/2023 04:49

Note to self: must head to Himalayas more often. It has proven to be very accretive from a net worth perspective.

Greetings all from 5,000m. Nice to see this close to breaching 60p again. I vaguely recall my 2023 year end target price was 63p so I hope we get close to it as we head into Christmas. Pretty indifferent to be honest because if we don’t breach it this year, we’ll breach it after March FY23 earnings. Anyway, great to see that some of you (TC, Rogue, Pine etc) are still here and holding :)

Gokyo ri awaits! Cheers guys.

[boystown] 29/11/2023 17:33

A snippet from Master Investor FWIW:

Costain Group (LON:COST) – Could Finally Be On The Way Back
I was pleased to see that the Investment Director of stockbroking group AJ Bell was highlighting the investment attractions of this infrastructure construction group.

In Tuesday’s edition of The Daily Telegraph, Russ Mould used his Questor Stock Picks column to feature Costain Group – pointing out that it had £167m of cash in its coffers compared to its market capitalisation of only £160m.

He mentioned that the group had an order pipeline of some £1.5bn, where it already had preferred bidder status.

In reaction to his bullish article the group’s shares hit 60.80p, up 4p, before closing 5.51% better on the day at 59.80p.

In late August I Profiled the company again, having failed twice before to score on my Target Prices.

I stated that the group’s shares were too low to be ignored by any investor looking for the UK to correct its economy and its infrastructure as well.

Noting at the time that buying the shares at the then 50p, where they stood at 4.4 times current year earnings and an even lower 4.1 times the 2024 estimates, could well see them look to achieve the 62p that they reached earlier in April this year.

Russ Mould is right – these shares are for buying.

[thags] 29/11/2023 08:04

Or will we fall back down to 50p. You just don't know with this one. It is a triple top so could go either way

[ttny2004] 29/11/2023 07:26

Question is will see 60p held today, and move up to 70/80p for next test?

[philanderer] 29/11/2023 01:02

'This company has £167m in cash yet its market value is just £157m'

Questor share tip: If it can get its margins even to 5pc it could look cheap indeed

[pinemartin9] 28/11/2023 16:04

Indeed...hopefully it holds! Happy days though. COST is my largest holding so a 5% gain has a nice impact for me. I'm overweight here (18% of my pf in this...). However, I would buy more at this price if I didn't hold so many % wise.

[the count] 28/11/2023 15:56

--->PINEMARTIN9

....and thar she blows.

60p finally taken out.

Let's hope it will hold in the coming days.

Regards,

TC!

[pinemartin9] 28/11/2023 09:07

3rd time lucky for the assault on 60p. Third time in a year.

[dickbush] 28/11/2023 08:06

FWIW



The net cash figure is far more than was reported at the half year; a small dividend is already being paid; consensus eps for 2023 is 10.8p making the p/e 5.4 times. So, what's this opinion worth?

[sphere25] 21/11/2023 15:20

Someone is having fun on the order book smashing through the sell orders on the offer. It is that buy order of 83,971 currently sat on the bid at 57.8p. It has mostly beeen responsible for the pop from the mid 56p mark to the current price of 58.6. It might have another lurching dive soon into the sell orders on the offer, causing another cascade type clear out of sell orders.

It's abit kamikaze type stuff, but who cares when it's on the right side of the book!

It almost looks inevitable now for a lob at or just above 60p. Most traders and the market will naturally be watching that key 60p mark now. Very strong resistance here at COST.

It would be nice to see it crack. It feels different out there in the market. It isn't fireworks, but there are some gradual bullish trends and more optimism. It feels less difficult to hold on to trades too. Just let them run, maybe a nice bullish move toward year end?

Still better than just watching the majority keep going down!

Have to see if that feeds through to COST here. A slow gradual trend might cause a break of 60p for a real bullish break out, but it is a tricky call, so not getting the hopes up too much.

Roll on more kamikaze type buy orders!

All imo
DYOR

16:35 UPDATE: That buy order got filled but then there was still a buyer in size with 10k icebergs at 57p, unfilled into the auction. Then a 400k (irregular for COST) buy order went unfilled in the auction at 57p for an uncross and close at that price.

28th November 08:03 UPDATE: Tipped by Questor with the headline: "This company has £167m in cash yet its market value is just £157m". Price now testing that very tough to crack key 60p mark.

[ttny2004] 20/11/2023 17:41

Looks like again we are heading to test 60p resistance. Hopefully, this time will break out to 70 / 80s as first level back on rerating.

[roguemale1] 15/11/2023 16:00

Ha very good. Degenerates? Spot on again I fear.
If you're on the 1020 to Delhi I'll see you in the bar!

[catabrit] 15/11/2023 09:45

Whoop whoop. Best thing I could have seen prior to my trip albeit we are such a long way off intrinsic value it is practically meaningless. Have been adding at 47.5p, 48p, 49p and 50p and until the facts change I will be going up or down with this bad boy. As a good friend told me about this one (and I know he’s reading) the correction on this will be very slow, and then very very quick. No matter.

If something happens make sure you engrave the following on my ADVFN tombstone;

Here lies CataBrit - he died doing what he loved and until the end, continued to eat his own cooking.

See you degenerates in mid December! X

[sphere25] 14/11/2023 15:39

In for a trade.

Testing a key resistance point here. It really needs to push on here or it might go stale and a quick exit.

There is a persistent 25k buyer appearing on the bid. That 1.64m trade has been gobbled up by two buyers of 1m and 0.64m.

The inflation print in the US has clearly helped. They are rallying, our gilts move lower and it is feeding through to equities here. The order book here changed to get more bullish and now these persistent orders are appearing on the bid so I am wondering if this might pop higher.

There is alot more bullish out there now for sure. Hopefully it persists to get some real bullish momentum going.

All imo
DYOR

[roguemale1] 14/11/2023 11:01

Some large lumps changing hands again this morning.
That's not you topping up is it Catabrit?!?

[catabrit] 09/11/2023 10:26

Here is my typical day at the minute with this thing in the doldrums and being such a big position:

Opens laptop.
Checks ticker price.
Closes laptop.

End.

[chris magpie] 08/11/2023 20:11

Think the lack of large contract wins over past 18 months and reduction on HS2 a big concern. Also the drive for more consultancy work to deliver better margins is difficult to really assess at present. Need a good solid set of results after year end and no more historic contract losses coming out of the woodwork. The rail and highways areas which have been strong need to win work but Government still stalling and are not committed to sufficient infrastructure investment which is still desperately needed in this country.