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
  -22.00 -2.68% 798.00 52,262 16:35:19
Bid Price Offer Price High Price Low Price Open Price
814.00 822.00 856.00 817.00 836.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 518.20 -52.50 -114.20 403
Last Trade Time Trade Type Trade Size Trade Price Currency
17:47:44 O 4,505 808.35 GBX

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Date Time Title Posts
15/9/202121:50James Fisher2,162
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 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 820p.
Fisher (james) & Sons Plc has a 4 week average price of 817p and a 12 week average price of 809p.
The 1 year high share price is 1,346p while the 1 year low share price is currently 735p.
There are currently 50,468,780 shares in issue and the average daily traded volume is 154,685 shares. The market capitalisation of Fisher (james) & Sons Plc is £402,740,864.40.
roddiemac2: The chairman and CFO have only been with FSJ since the first week of May this year, so it is nice to see them buying shares along with Eoghan Lionaird. ( He is underwater with all his previous purchases .) I have not tried to speak with Duncan Kennedy since he joined, but I found Stuart Kilpatrick always helpful, as was his predecessor. There is nothing I want to ask at this point in time. elsa, Sometimes it pays to roll with the punches.
roddiemac2: Illis, " The question remains how soon will the upside of increased renewable and decommissioning orders replenish the shrunken order book. This remains just around the corner as we have come to expect " -- That is it in a nutshell.-----To my mind both these markets represent a huge opportunity. In the meantime, are they going to divest themselves of some of the less profitable businesses, or are they going to try to make them more efficient? It looks as though they have too many businesses under the FSJ umbrella . It is an unusual business model, and one that has worked well over the time they have moved into marine services, but now they need to do some weeding---? I will hold .
illiswilgig: Not sure that you can tell much from a single day. Especially at the backend of summer when volumes are typically low, and on Friday before the bank holiday weekend they were very low for FSJ at least. So no great surprise that the market makers asked a bit over the offer without moving the spread. Probably means that they didn't have a lot of stock to sell you. I see on Stockopedia that on Friday the marketmakers were quoting bid price on quantity of 20,000 and offer price on quantity of 0 ! So if you wanted more than zero the price went up a bit. But it is noticeable that the downward trend in shareprice has been replaced by a slow but consistent upwards trend. At last. I had been wondering if someone is mopping up all the shares that come to market to accumulate a stake without pushing the price up. And under those circumstances its not unusual for the offer price to stay unmoved despite the shortage of stock. But I do like a good conspiracy theory. We shall see. cheers
roddiemac2: blue, 3p above or below a price hovering around £10 is hardly significant. The price you have been quoted is the offer price to you. Prices often fluctuate by the minute. If you consider it worth buying at say 1010p , then it is surely still a buy at a few pence more. Who is your broker?
cassini: I was interested by the chart pattern - that long, pretty much straight decline from about the 1st of April - and wondered what it was about FSJ that caused that, but looking at another share, NETW (totally different sector) it shares the same chart pattern, so I think it's not so much related to FSJ, more to the market.
illiswilgig: I agree. The current share price seems anomalous to me. I've been looking at the broker consensus figures (4 strong buy and 1 hold) and they seem to be overly cautious and confused given their strong buys rating. The current shareprice may be reflecting that. The broker forecast for FY21 revenue is 544m which is reasonable if a little cautious, given that they have been dumping low margin business. But the gradual reduction in forecast earnings during the year now a little under 61p seems confused given the management is aiming to increase margins? And the current share-price target is 1314p. Somewhat conflicting data? I have kept my FY21 target at 63p earnings and maybe looking to raise it once I see the interims. It may also be one or more institutions reducing their holdings causing an overhang of selling - it happens. Not necessarily related to their view on the company, they may just need the cash and be selling. It seems to be creating an opportunity, so I will be buying more if the price remains depressed - but as I am normally 100% invested it means that I have to decide to sell something else in order to buy, I normally find that adds discipline to my decsion making. Just my opinion. I can easily be wrong. I just aim to be right more often than I am wrong and to gradually improve my record. cheers
bouleversee: That was an excellent review of the company. Didn't FSJ have a capital markets day today with a summary on their website afterwards? Too tired to have a look there now but will do so in the morning. Maybe the management will have taken note and some action but the share price continues to go down. So sad in view of previous long term history.
illiswilgig: debsdowner, I share roddie's long term views. Checking back I see that my first investment (outside a pep) in Fisher was 2000 at 74p. Of course it was a very different company then. It took a few years to turn around and invest in the marine technology businesses that form the core of the company now. Over the years I've sold the odd share on highs and bought more shares during the dips but my core holding has grown. In the last few years the company has made some ill-timed investments and miss-allocated capital leading to high debts, falling margins and ROCE. Which goes some way to explain the current low share price. But with so many share prices being chased higher there are fewer companies around on low multiples - and I agree that the first signs of recovery could/should lead to a re-rating for this share. That's why I am keen to add a few more before it starts to rise again - but I already have a large, for me, holding so I can afford to wait. cheers
illiswilgig: Hello Roddie, good to hear from you. I hope you are keeping well? I view FSJ as fairly priced at around 950p - if you view the company as a moderate single digit growth business going forwards. That seems to be the current market view, which is perhaps understandable given the high debt, falling ROCE and writedowns together with teh lack of news on progress. Broker forecasts seem a little more optimistic than the market, price target of 1300p (40% above current SP) and eps of 61p for this year FY21, earnings growth of 18%. eps of 81p, earnings growth of 33% putting it on 11.7x FY22 earnings as it recovers. It all comes down to the growth prospects for the medium term. If you think, as I do, that the company is capable of double digit growth - then this does look cheap with relatively low risk versus reward from this price. Unfortunately it doen't compare well with many shares where share prices are climbing higher and already pricing in future growth - that oppoertunity cost will be causing investors to sell out of shares with negative momentum. One reason why I am sitting and waiting to see how low it will go. It's going to need patience to wait this one out? As a result I may miss the bottom - I normally do. cheers
illiswilgig: Hi Boule, Sorry, not yet seen today's yo-yo. So can't comment. Been busy with my head deep in company reports. I think the 22% stake referred to by Elsa is the Sir John Fisher Foundation, a charity established in 1979 by Sir John and Lady Maria Fisher. The charity funds charitable endeavours primarily on the Furness peninsula. I don't know if any of the Trustees have any family connection, it's not clear. Seems unlikely given today's rules on Trustee's but even if they are their activities are very much regulated by the Charities Commission (the latest report to 31st March 2020 is available on the charities commission website). The foundation does meet with the company directors twice a year, after the release of each set of results. Again likely very much constrained by the rules for both company directors and charity trustees. If any family members are still shareholders they are well below the 3% declarable limit as the company website lists all major investors down to Mawer investment management at 2.18% According to wikipedia the company listed in 1952 and since the 1960's the company has been managed by directors with no links to the family. For what its worth my opinion is that the charitable foundation is a good thing. Whilst its trustees cannot directly influence the company board I am sure that the board is mindful (in todays jargon) of the dependence of local charities upon the companies dividend - likely to have something of a restraining effect upon them, possibly explains the relatively quick return to dividends and helps to prevent an opportunitistic takeover bid at a depressed share price? I can't answer your question as to why the share price is so low, and has not recovered. It's been going down whilst others have been going up - which doubles the pain? Lack of news flow is one possibility. As Elsa says the upcoming capital markets day could be an opportunity for that to change. If I was managing the company I'd want to have some good news to release around that time? What they need to do to revert to a rising shareprice trend is crystal clear, and I agree with Rosemary Banyard on this - they need to reduce debt and invest in their most profitable businesses to reverse the decline in ROCE which has been apparent over the last few years? Over many years the company has a great track record of acquiring companies and profitable growth. They have exited low growth markets and entered higher growth markets. Most recently turning around the offshore oil division. In the last couple of years they spent relatively large sums on very poor acquisitions in the marine support division (which I called out at the time). These have been completely writen down but resulted in debt ballooning from 120m to 200m in the recent results. That has to be fixed. I don't blame the new management for this. The acquisitions were made in early 2019 and the new CEO joined in October 2019 well after poor decisions were made. And immediately announced a strategic review. Which to me is code for Oooops! 6 months later the world shut down and oil price halved. I could suggest that to come through this with such high debt without going bust or having to raise more capital and restoring a dividend so swiftly (though I would prefer that debt is paid down - as I see this as key to the shareprice rising) is to the credit of the new CEO. Long story short. It could have been much, much worse! It's also to the credit of the performance of the companies that make up James Fisher which gives me optimism for the future. The FD and the Chairman who also took part in the failed acquisitions have also just left which I believe is a good thing. The new management should now be able to reduce debt and invest with a much more objective eye? Sadly. This can't happen overnight. But a clear and measurable plan to do so coupled with a little bit of good news could easily have the shareprice back up to 1200p. In the meantime I am looking for a good price to buy a few more in the next couple of weeks, very tempted right now, but holding out for a little lower. As I've consistently bought this stock too quickly in the past (my purchase last year at 750p excepted). It's trading on 11.7x FY22 earnings, which pretty much tells me the market is discounting a return to growth, and the broker forecast is for 1314p shareprice which is why I think it could rebound quite swiftly when (if)good news arrives. cheers
Fisher (james) & Sons share price data is direct from the London Stock Exchange
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