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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Enodis | ENO | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 327.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 327.00 |
| Top Posts |
|---|
Posted at 24/6/2003 09:48 by clemenm7 quite a few small investors bailing out at these levels, further stake building has been announced and whilst the offer is coming down the bid is steady (and still at the level of the MM transfer activity of last week). keep your nerve me thinks......Vinny or Dart any thoughts???? |
Posted at 07/5/2003 19:28 by the dart You will be glad you didn't sell come 4pm tommorow burrmj, at least the odds are heavily weighted in that direction, still the key will be the results themselves will need to go as expected, the fall today is not a negative indicator more a very short term movement (Supply/Demand on the day), MM's not wanting to hold with event risk and so on, they are not investors/specualtorA big player has an order yet to fill, why not put the price down to see how many retail customers you can weed out with demand so weak, I think they got it just about spot on, had they put the price up it wouldn't have helped their client too much nor increased the volume too much, it's very much a case that we need results and perhaps some time to digest before we move on. In any case with a lack of private buying the only real driver now are the big players, when the results coming, those that hold will want to add, plus directors and the private buyers who are actually doing very nicely now at the moment anyway, most value plays are up. Never seen my portflio with nothing but green across the board three days on the trot, the only stock falling over last three days (and just today) Enodis, still will rise back as quickly as it falls not that meantingfull on trades placed today. Well all those holding now, it all eyes on results at 7:00am tommorow - Good luck ! |
Posted at 30/4/2001 12:26 by harvester Hi,Here are several diverse views from the papers: Telegraph;24th April: The market by Benjamin Woodliff “ with two profit warnings and a sale in just 4 months,2001 has got off to a rocky start for Enodis , the catering equipment supplier to burger chains worldwide . Debts have risen to £400 million , resulting in interest cover of just 3.5 times and revenues are under pressure . In January the company warned that business in the US which accounts for three quarters of sales, was struggling . Yesterday was the first bit of good news for investors. The long-awaited sale of the non-core Magnet kitchen furnishings division was secured . Even though the £134 m price tag fell short of expectations , the market welcomed the news . Enodis effectively put itself up for sale at last month’s strategic review and Magnet was considered an obstacle for potential buyers that had no need for a kitchen furnishings business . The shares picked up 13.5 to 117 ½ p . The proceeds will go towards reducing the debt to about £300 million but the advantages need to be weighted against the loss of a profitable business . Without Magnet profits for 2000 (should read 2001????) are not expected to exceed £60 million against forecasts of £100 million before the sale and warnings . The management faces its own problems . David Williams resigned as chief in March and earlier board upheavals accounted for finance director and chief operating officer . A replacement for Mr Williams has yet to be found, but the company may be sold before then anyway. Bids are unlikely to come in over £2 a share, a hard price to swallow for a board that just one year ago could have demanded over £4 . Steer clear . “ My comment: £2 buyout is good enough for investors buying at around £1.20 . Times article dated 24.1.01 “Enodis sells Magnet by Angela Jameson Enodis, the catering equipment maker has sold its Magnet kitchen division to Swedens Nobia for £134 million. Analysts said the sum achieved fell short of the £150 million that had been pencilled in for sale . But Enodis shares climbed 13% to 1171/2p, having hit a two-year low of 89p earlier this month . The sale comes just a month after David Williams quit as chief executive on the announcement of the company’s third profits warning since November . At the same time the group said it would cut 900 jobs in an attempt to find £30 million a year cost savings . Enodis bought the Magnet group for £25 million and will record a book profit of £25 million on the sale .” (???) Times article dated 24.1.01 by Robert Cole “ Enodis the renamed Berisford has been trying to sell its troublesome Magnet kitchens arm since August 1999 . Now, backed into a corner by trading difficulties in the US, it was forced to do a deal at a knockdown price . The £124 million it will bank from the sale to Swedish kitchen fitter Nobia (£10 million goes into the pension fund) is not good . However, the fact that a deal has finally been done suggests that the management is getting on with the job that it has failed to do since the first warning of a downturn in their US markets last November . Proceeds from the sale will enable the company to reduce its debts by £100 million. More significantly, the company is now cleaner and more attractive to a potential bidder . The market keenly awaits a takeover . The appearance on the share register of David Herro, the Chicago-based investor with an eye for value, may not be unconnected . But corporate raiders may be less keen to take on the challenge . Enodis has made much of the downturn in the US food service market. Yet its competitors have not reported the same difficulties , leading some to suggest that the group’s problems are self-inflicted . At the same time it is by no means clear that action taken so far will be sufficient to overcome its difficulties . Yesterdays rally appeared to be more in hope of a bidder appearing than in praise of this deal . But with profits set to halve after completion of this sale , a bid is the only thing worth holding on for . “ Sunday Times article dated 29th April 2001 Sharewatch by John Waples “ Enodis Shares in the food service equipment maker last week reversed their recent steep decline after Andrew Allner, acting chief executive, clinched the £134million sale of Magnet kitchens to Nobia, a Swedish firm. The deal could open the way for an offer for Enodis itself . Analysts were already predicting trade bidders for the group but the removal of Magnet could draw interest from private equity firms. Buy at 122.5 .” Above are all newpaper comments. My further comments: The last two days have seen increased trading activity in ENO but the MM’s are trying to conceal the direction of trading leaving many large trades unidentified. I draw your attention to trade No 30 on 26.4.01 when a block of 432000 shares was sold leading to a change of spread from 114-116 to 115-117. On the 27.4. there were many large “green” trades at 124p. Trades 82 and 86 near market close for 250K and 150 K shares traded at 124p appear to be buys since they traded at the top of the bid range . There are obviously many question marks on the fundamentals . ENO shares are not for the faint-hearted. I now regret starting this thread since there are many better and safer trading opportunities in the market . Nevertheless I hope that the info provided above gives useful guidance to traders and watchers of ENO shares . |
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