Dyson Share Discussion Threads

[garth] 17/6/2008 15:24

Just to spell it out, sector average rating would place these on a share price of 220p (more than 3x current price)

Slash off the value of the debt and you would still have a share price double the current level.

G.

[garth] 17/6/2008 15:21

Results just 7 working days away. Consensus forecasts of 13.86p and a divi of 4.3p. Forecasts at 14.1p for next year.....

That means they are still on a pe of just 5x forecast earnings. Compare that with 16x for the sector.

Any hint of good news and it won't just be the Space Shuttle that needs Saffil thermal shields, IMO ......

DYOR.

G.

[garth] 15/6/2008 19:46

Sleveen,

All traded on Plus (see link in the header)

G.

[sharw] 13/6/2008 19:41

There were 4 trades today of 1380,122,376,300 shares. Total of £1546. Pretty miniscule, but at least they were all buys.

[sleveen] 13/6/2008 18:00

No trades today and no wonder

[garth] 13/6/2008 15:00

KBC (house broker) appear to have upped their volumes both for buying and selling. Any chance that they are actually trying to create a market?

[sleveen] 12/6/2008 18:54

This lunchtime I could have bought 500 @71p and 2000 @73p: ludicrous.

[garth] 12/6/2008 13:00

This is all very exciting today :0)

[garth] 12/6/2008 11:14

In the whole market decline following the TMT bubble burst and subsequesnt several year deflation Gooch & Housego sold down in much a similar way to DYS. Low volumes, steady decline. Wish I could pick them up at 80p today.....



I can't. But I can get DYS at around 5x forecasts and with a divi at a rate higher than I'm paying on my mortgage...... Can that be right?

Do Dyson Group have materials and products to meet the challenges of 2010 and beyond? I believe so. Failing market meltdown I expect to see a healthy return on my investment.

G.

[garth] 12/6/2008 11:08

Following Nov 2007 Interims:
Peel Hunt: 2008: 16p eps, 2009: 18p eps - Target Price 250p
Landsbanki: 2008: 14.9p eps, 2009: 17p eps - Target Price 200p
Brewin: 2008: 15.6p eps, 2009:17.6p eps - Target Price 264p

Those eps forecasts have slipped a little, but only a little....

[garth] 12/6/2008 09:24

Clangor,

I believe this is once again a reflection on the depth of the market for these shares at current levels. We have seen the same story all the way down from about 140p

We have had a seller slowly dripping shares into a depressed market for small caps. The effect is worsened by the uncertainly currently surrounding Dyson ahead of the Strategic Review statement and results in 2 weeks time. With few buyers the seller has, IMO, manipulated the order book by taking out buy orders and driving the price down. People look at the collapsing share price and begin to ask questions about what we might see in the results....

Can you buy shares at these prices? Few. Why? No-one wants to sell at these levels because the current share price considerably undervalues the company. And I know - I was saying the same thing at 140p The thing is - you could only buy relatively small amounts of shares then too. A rating of 10x forecast earnings would place us at 140p and that is double todays price.

Carolite is now absolutely out of the share price. A major slow down in Saffil is now factored in. The improvements in Thermal Technologies - photovoltaics etc. and no-where to be seen in th ecurrent share price. How do you square that with the March trading statement:

Overall the business is performing in line with management's expectations and the Directors expect to report an underlying pre-tax profit of approximately £6.5 million in respect of the year-ending 31 March 2008. The strategic review of the Group's businesses continues on schedule and it is expected that the conclusions will be announced at the same time as the final results.

As previously reported, Saffil(R) is experiencing some softness in the US market. However, the business is holding up well and the order book for 2009 and 2010 is growing. Dyson Thermal Technologies continues to deliver a stable contribution. The Board believes that some new opportunities should start to be realised during the new financial year.

Assessment of Carolite(TM) continues and consultants from Philips Technologies have been engaged to assist with this. A prospective customer is also currently undertaking performance tests on Carolite(TM)....

Patrick Lammers, Chief Executive of Dyson, said: "The strategic review which will guide the Group in the coming years is well under way and I am particularly encouraged by the prospective order book for Saffil(R) and the initiatives in Dyson Thermal Technologies."

[clangor2] 12/6/2008 08:54

I've surrendered. Even at the (relatively) recovered sp, still unable to buy a mere 2.5k. It's not worth the time and effort, my blood pressure is already high enough in these volcanic markets !

[garth] 11/6/2008 20:41

Well you know what I think!

[sleveen] 11/6/2008 17:07

Up 8.25p today ......... has DYS been oversold?

[mdchand] 11/6/2008 16:06

garth - remember the property portfolio might not be worth as much as we suspect but as long as DYS are not in breach of banking covenants on loan to debt ratios, the debt should be fully covered. Just look at Baratts to see the fear and greed driving property shares atm.

[garth] 11/6/2008 13:38

Fair points WJC - as usual. Good to hear from you again on here.

The debt is an issue - but one covered by a property portfolio. Commercial property prices was an issue I put to Patrick Lammers following the interims and he was quite comfortable.

PE of 6? Reckon we'll see them on 3 times that rating in 3 years (assuming we don't see global meltdown). Catalytic converters, diesel filters, neutron absorbers, photovoltaics crucibles, fuel cell technologies. Oh, and maybe even hard disk drives..... ;0)

I remain a (currently pained) long-termer.

G.

[garth] 11/6/2008 13:30

High energy costs and a slowing economy are almost bound to lead to some caution on next year. But US emissions legislation due in 2010 should mean that on an 18 month view they represent cracking value.....

[wjccghcc] 11/6/2008 13:30

The problem is that underlying PBT of 6.5mm for the year implies PBT dropped from 4.0mm in H1 to 2.5mm in H2. They don't look particularly seasonal so annualising that gives EPS for the current year of 11p and a PE of 6. Add in the large debt position of 35mm and you can understand why they've been sold down this far. Of course, if things improve this year then they'll be looking mighty cheap.

[garth] 11/6/2008 13:13

Results in 2 weeks. Around 15p eps forecast and a divi of 4.3p. That puts them on a tad over 4x earnings....

Sector average rating has been around 16x

On a return to that DYS are ripe to be a 4-bagger over the next couple of years.

Any serious buying prior to or following results will see a quick re-trace north of £1 IMO.

G.

[garth] 11/6/2008 13:07

He-he :0)

Reality of the small quantity of shares available now being shown.....

[garth] 11/6/2008 10:34

They were quoting 56p earlier - could not get any. Even now I can only get firm quotes for 100 shares on line.....

G.

[garth] 10/6/2008 16:45

And down further at the close....

[garth] 10/6/2008 15:47

Clangor,

I had difficulty too. In the end got around 1K at about 62p. Had to keep trying though....

4x forecast earnings? 8% divi?

G.

[clangor2] 10/6/2008 15:45

My online price guide showed 60p to buy a few minutes ago yet could only get a quote for just one (yes 1 !) at a price of 62.93p.

Crass to put it mildly. Will the authorities intervene ? Not on your life.