I think the exceptional items need to disappear from the 2025 results they have had 3 years of reporting these below the line items. They also need to look and properly review the Intangible Assets on Balance Sheet ie Goodwill. but if they can make good margins on these new contracts all should be well although the bottom will fall out of rail sector once HS2 completed. |
as the header says, good recovery |
Quadruple bottom?! |
 Costain wins nuclear fuels framework deal
4 hours Urenco, the British-German-Dutch nuclear fuel consortium, has appointed Costain as programme delivery partner for new and upgraded infrastructure at its site in Capenhurst, Cheshire.
Aerial shot of Urenco's Capenhurst site [Credit: Urenco Capenhurst]
Aerial shot of Urenco's Capenhurst site [Credit: Urenco Capenhurst]
Under the framework deal, Urenco is expected to award contracts to Costain over the next three years, at least.
Costain will lead and deliver a programme of Urenco’s infrastructure investment activities, including developing the design, procurement, construction and commissioning of works and upgrades at Capenhurst.
Urenco’s Capenhurst site provides uranium enrichment services to produce fuel for civil nuclear power stations in the UK and around the world. The site is undergoing a series of complex works to support the long-term resilience of the site, including establishing Europe’s first high assay low enriched uranium (HALEU) advanced fuels facility.
Sam White, managing director for natural resources at Costain, said: “Ensuring the supply of safe, low-carbon electricity is critical for creating a sustainable future. We’re bringing decades of experience in predictable, best-in-class delivery to help safeguard the UK’s energy security and support the transition to more sustainable energy generation.” |
It seems that the share price has settled at this level and unless there is a major market movement one way or the other it will stay around this level until an announcement from the company as to how things are going in this current year I hope we don’t have to wait for the AGM in May perhaps a trading update in April keeping shareholders informed and reassured is part of being a listed company |
Sun1950, I think KKTJ's article gives the answer. Both that article and ADVFN use Reported Earnings rather than Adjusted. I certainly don't agree with this, particularly when the company has stated that it is not expecting any exceptional items in future, but we are stuck with it until 2025's eps are in.
Note, however, that the tax charge on Reported Earnings was very low. So, 2025's Operating Profit needs to grow (high single digits?) for Adjusted eps to just match 2024's. FWIW, management must be aware of this and will be working to exceed the market consensus...again. |
I first bought these shares after the half year results 6 months ago and was confident that the full year results would be good. So a week ago the share price started to fall from 110p to 104p then the results were published and received well by everyone and consequently the price went from 104 to 114 now 2 days after the results we are below were we were on Monday. Don’t you just love our market it has no logic to the ordinary investor. I still believe the price will recover and I don’t understand how Galliford can sell on 12 x while Costain sell on 7.5 x .this has to be a takeover target at this price. |
Recent price chart looks broadly similar to GFRD, its nearest peer. Hold on for the move up when general sentiment improves and the very real value accumulating here proves to hard to resist for new buyers. |
Agree, very cheap for sure. Good long term hold, and was pleased with the results yesterday. Nothing goes up in a straight line as we all know, and think we will see higher highs for sure. |
I have taken advantage of the 5% drop and bought another 25k let’s see what happens from here. I feel this cheap means a possible take over can’t be ruled out. |
The increased dividend helps too. However, I can't see dividend investors rushing in here as there are far better options elsewhere. However, as a long term holder I'm now getting 4.8% against my average price. That makes me more inclined to hold. This is steady for me. This could be profit takers reducing risk given macro events. I think my money is ok here so am inclined to hold. Good results yesterday and the recovery is gaining pace. |
Eps for the current year could be 13p statutory and 15p adjusted and I am being cautious so that makes the ratios 8 x or 7 x adj. why? |
Still can't break 110p |
I cannot understand why this share is 4% down today. Results were good this year will see increase in profits and eps cash could be £180m at the end of the year the market is up today and other shares in the sector trade on 12 x earnings Costain trade less than 10 x statutory eps and less than 8 x adjusted eps. I would be grateful if anyone can explain the reason the price is 107p |
sophia1982, today's presentation makes clear that a buyback or other way of boosting returns to shareholders depends on the position of the PF in its coming actuarial valuation. No surprise. IMO, given the current cash balance and anticipated cash balance, they will go the buyback route if that valuation provides the opportunity. |
£2 medium term.
GLA |
Investors Chronicle rate Costain as a buy and gives a good write up eps could be 14-15p this year which should give a price of 140p that’s a 25% increase plus a good dividend |
Yes outcone of pension valuation key. What happens if not 101% do they need to match this year's dividend and 6 months they paid nothing into old scheme. |
Excellent results. Only con (IMO): they might have hinted at a second buyback this year once they know the outcome of the pension valuation (which should be positive), but perhaps they want to leave some meat for 2H. |
You can see a nice inverted H&S with neckline around 110. Hopefully 110 acts as a support and if H&S works out the projected target will be around 135. |
Bearing in mind that I know almost nothing about charts, so far today looks like a breakout. Also, using 50 and 200 day weighted moving averages, there was a "golden cross" a couple of weeks ago.
Meanwhile, back on earth, Panmure Liberum raised their target price from 135p to 150p. In a decent market we might just see that this year. Unfortunately, we aren't in one. |
Current cash after 10m buyback - 158m
YE 25 cash expected - 180
Values the EV at 100m |
Long term prospects look particularly bright. |
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