Enteq Technologies Share Discussion Threads

[battlebus2] 16/4/2014 23:47

I was of the same opinion W.C. and did warn these may disappoint again.

[woodcutter] 16/4/2014 21:22

may well do sg. I was never convinced but more luck than judgement, just gut feeling i suppose. still on my watch list though. But i do expect further falls.

The mouse still roars!!!

Woody

[simon gordon] 16/4/2014 14:54

Turned into a real serial disappointer.

Could it go into the high 20's?

[paleje] 16/4/2014 10:58

At evens I'm staying, think it will get better, it's a decent entry price.

Enteq Upstream Enteq has been what one might euphemistically call a slow burner since it started and not all of the setbacks have been of its own making. I was happy to follow proven management although they set up just as the service industry took a bit of a bath and recovery from that has been difficult. They still have $19m of cash so I hope that they will invest sooner rather than later as it is clear that business is booming in their areas. Todays update says that EBITDA to end March is in line with expectations but that results due in June will include a non-cash impairment charge for goodwill and intangibles. I have struggled to see the company much and apart from a results meeting some months ago I'm not sure if they have done the roadshow I thought was necessary and of course they have parted company with the Finance Director since then. Either way down at this price I think its an interesting play and while it may take longer than first thought it is a small service company in the making and will probably reward investment. - See more at:

[cheshire man] 16/4/2014 10:53

I also got out with a small profit!

[paleje] 16/4/2014 10:39

Investec revised target now 67p, Finncap 54p, both still buys. There's room for upward adjustments as the year progresses, Finncap's previous estimates were far too high and that's probably what's caused the panic imo.

Investec dropped their price target on shares of Enteq Upstream PLC (LON:NTQ) from GBX 88 ($1.47) to GBX 67 ($1.12) in a research note issued on Wednesday, AnalystRatings.NET reports. The firm currently has a "buy" rating on the stock. Investec's price objective would indicate a potential upside of 57.65% from the stock's previous close.
Shares of Enteq Upstream PLC (LON:NTQ) opened at 35.70 on Wednesday. Enteq Upstream PLC has a 52-week low of GBX 36.725 and a 52-week high of GBX 65.50. The stock's 50-day moving average is GBX 0. and its 200-day moving average is GBX 0..
Separately, analysts at FinnCap cut their price target on shares of Enteq Upstream PLC from GBX 83 ($1.39) to GBX 54 ($0.90) in a research note on Wednesday. They now have a "buy" rating on the stock.

[pugugly] 16/4/2014 08:57

There is also rumoured to be a very large institutional overhang which is being dribbled into the market. With the current downgrades they may not longer to be prepared to hold and could dump (imo)

GHF:. Good call at the moment.

[glasshalfull] 16/4/2014 08:23

Shares under pressure as expectations scaled back heavily for this year.

I believe rev expectations were c.$36m for 2014/15 & today's statement indicates run rate through to $30m. PBT forecasts will be scaled back and EPS forecasts down from 9.0 cents to 3.9 cents per finnCap's rebased forecasts... & consequent downgrade for following year (2015/16) where only 4.2c now forecast.

Sorry, but I've sold my holding down on this news.

Regards,
GHF

EDIT - Post edited as typing on the move and hit "cut" rather than "copy"

[skyship] 16/4/2014 08:22

So why are these being sold down to 37p - stop-losses being hit possibly...

[glasshalfull] 16/4/2014 07:46

Quick synopsis of t/s

* adj EBITDA in H2 c.$1.4m vs $0.5m in H1 (+180%)
* Revenue c.$24m which is in line with forecasts
* 25% growth rate indicated for forthcoming year, suggesting $30m for 2014/15
* Cash $19m which is ahead of $16m I've listed in my notes (believe that's Investec's forecast following H1)
* Non-cash impairment of Goodwill...confirming they acquired assets at the top of the market

All in a reassuring statement, with Martin Perry indicating drill market now stabilised. Future revenue growth expectations will have now been paired back to a more realistic 25% growth level and with strong cash balance of $19m they certainly have the pockets to develop NTQ.


Regards,
GHF

[1gw] 16/4/2014 07:38

but they're having to take a charge against previous acquisitions ("goodwill and intangible asset values") which isn't good news. Still, continued revenue growth should mean a profit next year.

[p1nkfish] 16/4/2014 07:22

yes.

move into international promising too as well as new product devs.

may get some much needed attention.

[paleje] 16/4/2014 07:16

"In a more stable North American market and through investment in internal product development, international business expansion and strategic new technologies we expect to maintain margins with similar levels of revenue growth and incremental cash generation."

That growth rate referred to was 25%, good forward statement.

[p1nkfish] 16/4/2014 07:07

trading update.
cash strong.
good growth in line and more expected.
looking outside US.
steady as she goes.

[paleje] 03/4/2014 15:27

IC had an article on them mid Jan at 49p with a conclusion:-

True, earnings are currently suppressed by high overhead costs. But sales are climbing - they doubled at the half-year stage from weak comparables. And the company's enterprise value is equivalent to just one times forecast sales and, adjusting for 22p cash per share, the shares trade at just five times forecast March 2015 underlying EPS. Clearly there is plenty of scope for Enteq's share price to re-rate if it can make good on lofty EPS growth forecasts and acquisitions, which could turn the overlooked cash pile into tangible earnings potential and create significant upside. The shares are fairly illiquid, so we'd advise building a small position over time near the current price. Speculative buy.

So we're ~20% lower than their Buy advice with m/cap not much above tangible asset value and way below overall NAV, nice to tuck away at this level.

[rivaldo] 03/4/2014 12:22

Yep, certainly looking better.

I can't find any worthwhile news flow at all as regards Enteq, XXT or KMS, so I suppose we're dependent on overall improving rig trends etc. IMO the management (ex-Sondex etc of course) are top-notch, so I believe they will make NTQ a success - it's just a question of whether it's sooner or later and how much patience is necessary!

[nurdin] 03/4/2014 11:30

Hope I dont jinx it but looking good...the worm is turning !

[cheshire man] 28/3/2014 10:56

Should get an update from the company in a few weeks

16 April 2013

Enteq Upstream plc



Year-End Update

[nick2412] 28/3/2014 10:52

Just my type of share. Solid cash position, seemingly decent management, been in oversold territory with overhang possibly cleared plus an element of blue sky.

The negative seems to be that they may have overpaid for the acquisition but that looks to be more than factored in.

[rimmy2000] 28/3/2014 10:49

see, what a load of BS. price being driven down. 6% rise today, trades at £22m MCAP with NAV of near £60m.

[hastings] 28/3/2014 10:46

Looks like this has really woken up!

[glasshalfull] 28/3/2014 10:33

;-)

Some large trades through yesterday. Stale holders exiting?

Regards,
GHF

[rivaldo] 28/3/2014 10:26

Good timing as ever GHF - looks like the tide has turned.

[glasshalfull] 25/3/2014 14:00

That's a very lazy way to post steg.

:-)

Regards,
GHF

[stegrego] 25/3/2014 13:19

What he said ^^^^^^^^^^^^^^^^^^^^^

and ditto