Share Name Share Symbol Market Type Share ISIN Share Description
Fisher (james) & Sons Plc LSE:FSJ London Ordinary Share GB0003395000 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  -28.00 -2.42% 1,128.00 230 08:12:09
Bid Price Offer Price High Price Low Price Open Price
1,138.00 1,154.00 1,128.00 1,128.00 1,128.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 617.10 47.80 73.10 15.4 569
Last Trade Time Trade Type Trade Size Trade Price Currency
08:03:57 O 213 1,139.995 GBX

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Date Time Title Posts
28/8/202011:26James Fisher2,001
15/7/200916:08James Fisher 2006: International Rescue (+charts)304
30/6/200900:47 *** James Fisher and Sons plc ***-
13/11/200609:27Screaming BUY>>>>1,067
23/8/200507:42 a few problems at james fisher ?12

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Fisher (james) & Sons (FSJ) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2020-09-21 16:16:391,156.0630346.82O
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Fisher (james) & Sons (FSJ) Top Chat Posts

Fisher (james) & Sons Daily Update: Fisher (james) & Sons Plc is listed in the Industrial Transportation sector of the London Stock Exchange with ticker FSJ. The last closing price for Fisher (james) & Sons was 1,156p.
Fisher (james) & Sons Plc has a 4 week average price of 1,102p and a 12 week average price of 1,100p.
The 1 year high share price is 2,190p while the 1 year low share price is currently 1,100p.
There are currently 50,433,532 shares in issue and the average daily traded volume is 43,655 shares. The market capitalisation of Fisher (james) & Sons Plc is £568,890,240.96.
illiswilgig: Well what to think? Having read the interims I find it hard to put into words - except as I predicted, and I didn't need to be a rocket scientist to predict - good in parts. Or, according to your half full or half empty view, bad in parts. The current share price values Fisher fairly in view of its current business (order book) the level of debt and intangible assets on its balance sheet. It's on around 18x forecast earnings for this year and 14x earnings for next year (21). Whether that fully values growth prospects requires a crystal ball. Mine is currently out of service. The interim results, comprehensive though they are, don't provide much reassurance on future growth. But to be fair, times are not normal and why provide a hostage to fortune if you can't know whats going to happen in the next 6months let alone the next year or two. For the bears there is plenty of gloom surrounding the poor performance of the marine support division, about half the company by sales - but only 25% of profits, currently enjoys a return on capital of below 5%. Some underperforming assets there that need sorting out? For the bulls, the specialist technical division has made good progress despite coping with a pandemic, profits down 20% still a healthy return on capital at above 13%. Tankships, the cash cow, plods onwards - and remained profitable even during may and june, which is good news in an ever declining market. roc reduced but still at 27%. The gold star goes to Offshore Oil - once the problem child - but with sales, profits and roc all up. Though with roc of 8.6% its acceptable but more to do? It's a no brainer that sorting out Marine Suppoert is the first objective. It looks like the pandemic coupled with the negative oil price spike has accelerated an already struggling division. To be fair the company recognises this, apparently headcount reductions have already been made, and Fisher has a long and creditable record of adjusting its business when the world changes. The remarkable turnaround at offshore oil under the current conditions is a good example of their ability to do this well, with artificial lift pumps for end of life wells, specialist cutting for decommissioning rigs and compressor environmental support to renewable project construction all cited as growth areas. Should they achieve anything remotely similar with marine support then the current share price does not fully value the prospects, nowehere near. The restoration of the interim dividend is a signal that the board don't see immediate problems and you might take it as a signal of confidence in the future. I am sure that they would want you to. I like the potential of the subsea, ROV, defence, deoommissioning and renewable markets that the company is developing. I am confortable holding this share at the moment - unlike many shares it has not staged a recovery which may prove premature. So I think that the risks are weighted towards the upside in the short term, though we will most likely have to wait for the full year results for a clearer outlook, and I remain bullish in the medium term. cheers Illis
illiswilgig: Hello Roddie, Well thanks, as well as can be expected. Likewise Roddie - hope you are well? Interims expected on 22nd August? I don't expect them to reveal a lot as Q2 of this year has been such an upheaval around the globe and the return to 'normal' whatever that turns out to be will not be as quick as many had hoped or assumed. Indeed - in the old economy markets of energy and transport there may be no return to the old normal? The pandemic may have accelerated some changes that were already in progress? The current shareprice is certainly disappointing - but I agree with Roddie, not that surprising. Though I don't want to over-rationalise it. There is a lot about shareprices at the moment that is far from rational. Renishaw share price at around 94x profits in the year just ended, and 56x for the year to Jun21? (Yes, I've reluctantly been a seller.) Whereas Fisher is on 17x the year to Dec20 and around 13x for the year to Dec21. Which you may consider as fairly valued? I still think Fisher is well positioned in emerging marine technologies and markets and has the potential for good future growth. One thing I have learned about Fisher is that the shares rarely, if ever seem to be a bargain. So the current fair value - may - in time prove to be a good buying opportunity as Roddie suggests. Accordingly I've been adding more, most recently at around 1200. But I admit I started buying too soon, and don't see adding more unless the price falls signficantly further for no particular reason. In the short term there will be a lot to do to sort out the bits of the business where the market has imploded and focus upon the bits for future growth. Much depends upon whether you think the management has the ability to do this - something that Fisher has done very well on previous occasion. I might suggest that buying is for the brave or foolish - to soon to know which of those I am yet? I wish everyone well and look forward to reading the tea-leaves on the interims soon. cheers Illis
roddiemac2: TDay, When this crisis started I thought that the shares might half from their highs of around 2200p in March 2019. Why did I think this? ------In the financial crisis the shares dropped to just over 300p briefly in November 2008. They were hovering around 680p in May 2008, and before that, in November 2007, had been just over 700p briefly.---So,in the financial crisis they roughly halved. My logic is that the current crisis is arguably much worse . It therefore should be no surprise to see the share price drop to current levels. It is worth bearing in mind that the shares are fairly tightly held , and that much of the daily trading consists of very small trades. I have not checked daily, but there is little sign of large sellers: more a buyers strike. During the financial crisis , I started adding at 340p. This time round , I have been adding at higher prices than we now see. I don`t always get it right. Interim results at the end of this month should be revealing. PS ----Illis and Boule , I hope you are both well.
bouleversee: I see HL have FSJ as a very strong buy today. This is the dividend history for the past few years, starting with yr to Dec 31, 2019, when the final wasn't paid: Dividend growth: -64.24% 10.10% 9.75% 9.87% 8.18% Dividend yield: 0.60% 1.80% 1.80% 1.70% 2.00% Dividend cover: 6.47 2.83 2.74 2.94 2.9 The yield was never very high in relation to share price and was well covered so things must be pretty bad if they cancel it and the share price still drops like a stone. I should be interested to know Roddie's views. My children have cash in their ISAs and am considering suggesting they should top up but we all have quite a lot between us and I really don't understand what is happening here.
illiswilgig: Quick update - I see that the market has taken a dim view of this mornings statement. You can be surprised the price is so low. Equally you can be surprised that the share price remains so high? I wouldn't be surprised whatever the market price does at the moment. The one thing I do know is that the price doesn't reflect the true future value of the company. Because nobody knows what that value will be. The price is being set by a tug-of-war between those that think the business will do worse and those that think the business will do better. As a result the price is somewhere in the middle and appears to move randomly as neither team gains an advantage, until suddenly at some future point its all over and the price will move decisively on way or another. Just my opinion.
bouleversee: So we have had the Finance Dir. buy a chunk at nil cost via his LTIP and sell some to pay the tax (nice work if you can get it!) after axing the dividend helped send the share price down and now we have the Regent Trust Co. selling their entire 7.67% holding, and the price dropped back to around 13.10 before starting to climb again. What gives, do you suppose? I must say I am surprised that the price has fallen so much from the high.
illiswilgig: Ooops - got my first sentance tangled - should have said that it's unlikely that the business impact is greater - rather than less - than the drop in share price typical! cheers
roddiemac2: Hello bouleversee, It does not take much to drop a share price in these times. Since we have no quantifiable information on which to make a judgement , I will sit tight. This is a very unusual situation.
bouleversee: Thanks, Illis. I feel reassured and shall ignore the share price and await next figures and dividends.
illiswilgig: For what its worth a quick search of the internet reveals that there are at least 4 broker analysts following FSJ. Which seems likely given that it's an FTSE250 company. Platforms like HL will only display information from those analysts willing to provide their product for little or nothing. I'd question whether such 'free' analyst information is either meaningful or useful. I do watch such information to keep an eye on what the 'herd' is thinking. I find the most imteresting situations where my research and views differ most strongly from the 'herd'. Of the 2 broker views currently on Digital Look - one rates FSF a strong buy, and the other a neutral. My conclusion is that the herd is milling around and doesn't have a clue. At the moment I rate the track record of the company and its management well above the track record of the broker analysts. Forecasts - presumably from these same analysts - are for a 6% increase in profits this year. Which is weak compared with the current shareprice of around 20x forecast profits. That should be contrasted with the Chairmans own forecast in the last results of a return to double digit earnings growth in the medium term - which makes the share price look much better value. If the share price continues to drift downwards towards anyting like 1800 I will top up again - even though FSJ is currently my largest holding. cheers Illis
Fisher (james) & Sons share price data is direct from the London Stock Exchange
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