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Costain Share Discussion Threads
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|Thanks for that gersemi
As they just operate in the UK-apart from Alcaidesa- I have not seen them as an obvious target for takeover by a non UK company but perhaps I am wrong|
|My pleasure. I have a small holding here
Some talk in the IC this week about Costain also beefing up their efforts for lots of work in North Sea decommissioning
|Thanks, interesting, bring it on|
|Brace yourself for more British takeovers
Further weakness in the pound could see more foreign companies swoop on UK firms
06 April 2017|Big News
Issue: 06 Apr 2017 - Page 7
Further weakness in the sterling could lead to a second wave of incoming M&A as foreign companies would find it even cheaper to buy UK businesses.
Already in 2017 consumer goods giant Unilever (ULVR) has fought off a £115bn bid from Kraft Heinz. Engineering consultant WS Atkins (ATK) earlier this week received a £2bn takeover approach from a Canadian rival.
Big News - table British takeovers
‘Although there were, on average, more than two deals per week with a transaction value of more than £100m in the six months after the Brexit vote, the frequency for mergers has now stepped up a gear,’ says Canaccord Genuity Wealth Management.
Its senior equity analyst Simon McGarry has identified 14 stocks which look particularly attractive to foreign companies including transport firm Go-Ahead (GOG) and civil engineer Costain (COST).
The exercise involved looking at the free cash flow yield of firms based on them being acquired in a leveraged buyout (that is a takeover at least partly funded by debt). (TS)|
|Cerritos, I have held for a long time and only recently realised it had grown in value, slowly but surely. I haven't seen anything specific but am happy to be in for the ride|
|Having checked into the Costain share price very pleasantly surprised to see where it is-especially as it is xd- and trying to work out why it has risen from the 313p at the end of April last year.
Yes they had a cracking second half last year-both in terms of operating cash flow and an operating profit at its highest since at least 2008. Yes it has a record order book…yes the Company is confident on the future….but we have known that since March 1.
No recent news I can detect; yes on March 28 I see that Jeffries uppped target share price from 390 to 500p but the current share price is above the target of 450 that Peel Hunt and Liberum have; there do not appear to have been any significant change in holdings….and of course they have to make a contribution to the pension fund equivalent to the dividend.
|Finally, there should be more free float and liquidity here. Hopefully trading volume increases and it becomes a share on more investors radars.|
|As it appears the placing was oversubscribed, that explains why the market price has held up quite well.|
|Placing at 340 today.|
|Maybe there is buy order ...|
|Curious to know why the sells when the company wins a contract?? Very strange behaviour.....SP goes down on good news, weird!|
|hs2 coming on line contract won + many more for the future|
|hopefully GBP 400.00p plus by the end of the week|
|Analyst Coverage Updates – Costain Group (LON:COST)
Recently stock market analysts have updated their consensus ratings on shares of Costain Group (LON:COST). The latest broker reports which are currently outstanding on Tuesday 15th of November state 3 analysts have a rating of “strong buy”, 0 analysts “buy”, 1 analysts “neutral”;, 0 analysts “sell” and 0 analysts “strong sell”.
Most recent broker ratings
02/03/2016 – Costain Group had its “Buy” rating reiterated by analysts at Investec Securities. They now have a GBP 410.00p price target on the stock.
04/02/2016 – Costain Group had its “Equal-weight” rating reiterated by analysts at Barclays. They now have a GBP 4600.00p price target on the stock.
Costain Group has a 50 day moving average of 358.76 and a 200 day moving average of 342.46. The stock’s market capitalization is 355.48M, it has a 52-week low of 267.00 and a 52-week high of 390.00.
The share price of the company (LON:COST) was down -1.00% during the last trading session, with a high of 353.76 during the day and the volume of Costain Group shares traded was 41503.
Costain Group PLC is an engineering solutions provider. The Company offers consulting, project delivery, and operations and maintenance services. The Company operates through two segments: Natural Resources and Infrastructure plus Alcaidesa in Spain. The Infrastructure segment operates in the highways, rail and nuclear markets. The Company’s Natural Resources segment includes the Company’s activities in water, power and oil and gas markets. The Company offers a range of integrated services, including advisory and concept development, specialist design, program management, project delivery, technology integration and asset optimization and support. The Company offers life-cycle services to energy, water and transportation sectors across the United Kingdom. The Company provides a range of highway services, from asset inspection and assessment; scheme development; managing the statutory process; detailed design and construction; commissioning and handover, and maintenance and aftercare.|
|Blackrock and Henderson Group have both gone above 5%|
|Looks like sellers who got stock and have to pay for it today or sell .bounce tomororw|
|Sinple retrace before further upward movement (Ihope anywsy!) IMHO.|
|Presume your on the wrong board bigboots?!!!!!!|
|Big seller underway, placing ahead, i fear|
The £24m hit is due to the remeasurement of the pension fund shortfall. It is mentioned in the Chief Executive's statement after the section on the Increased Dividend. The net charge of £24m is shown in the figures below the P&L figures as "An item that will not be reclassified to profit and loss".
Virtually every company in the land with a final salary pension scheme will see the same thing happening. For Costain the impact is not too great. For some (e.g. British Aerospace, Rolls Royce, etc) the impact will be truly eye watering.
At this stage I am continuing to hold. On the basis of the figures excluding Manchester Cost should be a £5+ share and(hopefully at the worst) there should only be one more half year of Manchester - But I would still like an explanation of this period's loss being even greater than last year's charge off!!!
This share has drifted down between results but looming on the horizon we have the Autumn Statement which might give a sector wide boost if infrastructure spending is increased.
All the best!|
|I agree JJHBev that amazing that after all these years the Manchester contract continues to cause provisions- the only good thing is that after Manchester and IRV’s Glasgow there will be no more such contracts. As a shareholder of the former TEG this Manchester contract is very painful for me.
I see that Net Worth went down in the first half because of a £24m hit to retained earnings-ie bigger than the Manchester provision- and I could find no explanation of this. Could any of you?
I see that they say this year’s result will be in line with board’s expectations and that consensus forecasts have eps at 26.54 up from 2015’s 25.1.
My reading is that at this afternoon’s prices, I am more inclined to sell than buy but doubt I will do anything|
|Another £11.4m charge re the Manchester debacle !!!!!!!
They need to explain why this hit has increased so much & whether this is the end of such hits!
Other than for Manchester everything is very good indeed. Infrastructure in great shape, Natural Resources (ex Manchester) profitable & further growth ahead.
Profits up 20+%
Would have been 100% if not for Manchester|