Essentra Share Chat (ESNT)

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Share Name	Share Symbol	Market	Type	Share ISIN	Share Description
Essentra Plc	LSE:ESNT	London	Ordinary Share	GB00B0744359	ORD 25P

	Price Change	% Change	Share Price	Bid Price	Offer Price	High Price	Low Price	Open Price	Shares Traded	Last Trade
	+4.00p	+1.13%	357.20p	357.00p	357.40p	361.00p	350.00p	352.20p	357,926	16:02:38

Industry Sector	Turnover (m)	Profit (m)	EPS - Basic	PE Ratio	Market Cap (m)
Support Services	1,027.3	-4.9	43.7	8.2	939.44

Essentra Share Discussion Threads

Showing 151 to 174 of 175 messages

Chat Pages: 7 6 5 4 3 2 1

Date	Subject	Author	Discuss
19/10/2018 08:56	Closed out for a small gain, unimpressed with the IMS.	essentialinvestor	Read Full Thread Reply
17/10/2018 14:09	Yep. Nice timing ei.	unnavailable	Read Full Thread Reply
16/10/2018 08:07	Bought a more meaningful amount near the open. Still a small position as speculative imv.	essentialinvestor	Read Full Thread Reply
08/10/2018 11:31	Bought just 250 shares so I would not forget about ESNT,. mentioned in the post above that below 3.90 would not surprise me. Well here we are. It still doesn't look compelling value, given the debt and lack of dividend growth. Anyone want to make a more positive case?.	essentialinvestor	Read Full Thread Reply
18/9/2018 09:15	Had a very small amount under 4.16. still on over 17X current year. Under £3.90 would not surprise me.	essentialinvestor	Read Full Thread Reply
10/9/2018 15:25	A competitor might pay a high multiple, would have thought any take out metrics are too high for private equity, however I'm only guesstimating.	essentialinvestor	Read Full Thread Reply
10/9/2018 14:33	If it gets down to £3.80 one of the PE firms would definitely go for it. When it got down to £3.90 with the 3rd Profit warning in 2016, I heard that they were starting to sniff around. Your £3.80 to £4.15 is, as you say an interesting range.	uselogic	Read Full Thread Reply
10/9/2018 14:15	I thought very approx 3.80-4.15 as an area of interest. Woodford possiblly selling?, From memory he held ESNT.	essentialinvestor	Read Full Thread Reply
10/9/2018 13:23	If it goes below £4.00 then the PE firms would be very interested. Think PE is what is needed anyway. It looks like the turnaround is not a quick fix, based on '17 and H1 '18 results. Not sure why the share price is tumbling at the moment, maybe the larger shareholders are not liking what they are hearing. Raw Materials will rise again next Year, and not sure about their ability to pass on (with exception of components). If it goes below £4.20 it might be worth a punt, but you need to be prepared to hold onto them for a reasonable amount of time, before seeing any sort of return.	uselogic	Read Full Thread Reply
10/9/2018 11:31	Uselogic, would you buy here under at certain price?, or your view is perhaps too many uncertainties. Thanks.	essentialinvestor	Read Full Thread Reply
06/9/2018 13:28	Yes I get the valuation at x18, which is high. Bunzl is about 22-23 and usually use that as a comparison, as Filtrona was spun out of Bunzl and they have had consistently good results for last 5 Years. I don't think the recovery is guaranteed, without significant structural changes, which it looks like they don't have the cash to do.	uselogic	Read Full Thread Reply
06/9/2018 12:03	I get your point, they reference the cost of machines running in to millions, What I've questioned is from a valuation context, the recovery appears to be pricing in recovery, much of which is yet to come - and not guaranteed.	essentialinvestor	Read Full Thread Reply
06/9/2018 11:58	One of my friends works in the packaging industry. Reckons a new machine is about £2M. If you have + 20 sites that is a significant investment, which they don't have the cash to do. I think they were talking £10M of investment over 3 Years. So 5 machines over 3 Years, isn't going to push the margins back up to where they were.	uselogic	Read Full Thread Reply
06/9/2018 10:15	Thanks for the view. In terms of investment in packaging, that's happening already. The last two conference calls (available on the Investor relations site) deal with this in detail.	essentialinvestor	Read Full Thread Reply
06/9/2018 09:27	I think its over valued currently. Packaging will continue to be a drag on the share price. They should look at selling off the Specialty businesses. Stabilise Packaging. Then sell Filters. Use that to drive down debt and then make a call to either invest in Packaging or sell that off.Net debt is rising sharply, they just can't fund all business units. The only good business is the Components, so personally I would like them to sell off the other divisions and use proceeds on an acquisition strategy.	uselogic	Read Full Thread Reply
06/9/2018 08:02	Uselogic, any view on the current valuation?, I make it around 18x forward earnings.	essentialinvestor	Read Full Thread Reply
05/9/2018 22:03	Thanks for the above, I see Paul has bought another 20,000.	essentialinvestor	Read Full Thread Reply
05/9/2018 19:49	Went through the old annual reports. with the "4" new divisions to look at historical trends, which is below as best as I can figure out. 2014 2015 2016 2017 2018 H1 Components margin 27.07% 24.21% 24.01% 22.17% 22.64% Packaging Margin 18.19% 13.24% 6.92% -0.51% 0.94% Filters Margin 15.06% 18.31% 13.93% 12.54% 12.16% Specialty Margin 16.06% 15.21% 12.95% 8.62% 6.81% Group 18.48% 17.02% 13.36% 8.23% 8.52% Components trend is down from 2014. Slight improvement in H1. Packaging is not going to get its margins back, without significant investment. Filters in decline. Specialty in decline. Doesn't look great. Question is, how long will the turnaround take.	uselogic	Read Full Thread Reply
27/8/2018 15:05	The first point is don't look at the 5 yr average. That was heavily skewed by the hype around Colin's tenure, the rash of acquisitions and investors assuming very high future growth rates. From memory, the PE was somewhere around 15-16x before then, would have to double check. Components looks a great business, at least atm, helped by supportive macro in fairness. Filters looks stable(ISH). Specialist components a mish mash. Packaging, a huge amount still to do and current rating already assumes recovery in packaging, at least to some extent. There is also a fairly hefty chunk of debt and the dividend looks uncovered, if earnings recover sharply that's not an issue. The current CEO looks capable, and he keeps buying shares, another 20,000 recently. I think it's worth watching.	essentialinvestor	Read Full Thread Reply
26/8/2018 09:36	Historically speaking, 19x is not expensive. The 5yr average is 27. You have to go back to 2011 to find a yearly PE under 19.But yeah, there are no guarantees. Are there any at all in this game?.Do you like the business but just find it too expensive?. Under what price would tempt you?.	unnavailable	Read Full Thread Reply
25/8/2018 15:07	Thanks for the view. I make the consensus around 19x this year's earnings, that's not cheap in my book for an early stage recovery, with no guarantee packaging will return to significant profitability. ESNT looks more than fairly priced, maybe I'm being too cautious, good fortune with your holding.	essentialinvestor	Read Full Thread Reply
25/8/2018 09:01	I'm in. Recovery definitely under way and the plan seems to be going well. Back to profit and margin expansion.Huge improvement with customers willing to work with Essentra. H2 results crucial. I'll be looking to add around these levels.	unnavailable	Read Full Thread Reply
24/8/2018 14:10	Anyone interested here?. Watched the recent webcast and do not see a compelling buy case atm. A lot of the valuation appears to be predicated on a turnaround in packaging, which is still at a very early stage. Components firing on all cylinders. On about 19x forward, does this look value?. Might be worth a look lower down.	essentialinvestor	Read Full Thread Reply
25/4/2018 10:40	Heading back to recent lows?.	essentialinvestor	Read Full Thread Reply

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