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
  -4.00 -0.41% 980.00 126,663 16:29:59
Bid Price Offer Price High Price Low Price Open Price
975.00 983.00 989.00 967.00 967.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Transportation 617.10 47.80 73.10 13.4 495
Last Trade Time Trade Type Trade Size Trade Price Currency
17:06:23 O 128 980.406 GBX

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Date Time Title Posts
07/1/202109:51James Fisher2,061
15/7/200915:08James Fisher 2006: International Rescue (+charts)304
29/6/200923:47 *** James Fisher and Sons plc ***-
13/11/200609:27Screaming BUY>>>>1,067
23/8/200506:42 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 984p.
Fisher (james) & Sons Plc has a 4 week average price of 835p and a 12 week average price of 735p.
The 1 year high share price is 2,105p 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 138,648 shares. The market capitalisation of Fisher (james) & Sons Plc is £494,594,044.
bottomfisher: Mildly reassuring to see the wife of the finance director topping up the family stake with real money rather than exercising nil cost share options which do nothing to align an executive's interests with those of small shareholders. As a result the FD, whose family has close to 75,000 shares, is the only FSJ director who can seriously claim to have any ‘skin in the game’. Three of the five non-executives, who have been on the board for years, own no shares in James Fisher despite receiving annual fees of between £44,000 and £61,000. Malcolm Paul, chairman, who joined the board in 2011, owns 13,000 shares which are worth little more than half his £205,000 annual fee (which rose 31% in 2019). Justin Atkinson, the only other non-exec with a stake in the business, owns 3150 shares, which are worth less than half his £65,000 annual fee. Compare the fees and share ownership of the James Fisher non-execs with that of a blue chip company like Unilever. The latter’s chairman is paid around £750,000 a year and the basic fee for its non-execs is around £100,000 pa. The really big difference is in the share ownership as a percentage of non-exec fees which is disclosed in the annual report. It ranges from 101% to 369% for all but two of the dozen or so non-execs. If only Fisher's non-execs could show the same sort of commitment to their company as Unilever's board, then it might just be possible to shrug off last week's depressing trading update as a temporary setback rather than a sign that all is not well inside FSJ's engine room.
bouleversee: Illis - Would you like to manage my portfolio? I made a small top up of SMT yesterday at 1016 (as it had done so well for me this year) but it has hardly moved whereas FSJ has soared since your purchase. Oh well, at least my and my family's existing FSJ holdings will have recovered to the same degree as well. No doubt if I had bought more it would have gone the other way.
gilesy: having bought these previously earlier in 2020 at a near time high price I have averaged down my purchase costs by buying a small chunk at 8.40p. I am hopeful earnings position and share price will improve in the next year assuming covid situation improves. good luck to all holders
illiswilgig: Ooops, by 'share price drifting lower' - what I actually meant of course was the share price will nose-dive by 10% to 968p. Good to know that my hindsight is still functioning superbly. c'est la vie and I can't blame the market - there was nothing in the trading statement to point towards recover. cheers
illiswilgig: I notice that the bulletin board has become as quiet as the company in recent months. Rather than recovering the share price has been drifting down to new lows in recent days. Which makes it likely that this mornings trading update is clearly not a surprise to some. Downbeat. The expected recovery in trading has not materialised. Turnover is down 17%. Finger of gloom is pointed at the marine support division with delayed and postponed oil/gas and subsea contracts. No good news. No bright spots highlighted. To give them their due they have given clear guidance on the expected level of underlying operating profit - 35-40m (was 66m in FY19) - at the lower end thats a fall of almost 50%. You choose whether that 50% of profits is half full or half empty? It seems that any recovery in trading is on hold for now - so is any recovery in shareprice? There may be more bad news on the way whilst they get the marine support division sorted out - ominous statement on the review of the asset base, which makes a serious writedown in assets likely in my view?? To be clear I am not surprised (though a tad disappointed) that a recovery has not materialised, oil prices are still very low and all the major energy companies are busy slashing costs and putting new projects on hold - even renewables. It looks like a hard slog from here until there is a recovery in its markets - priced fairly though it may continue to drift downwards to new lows in absence of positive contract news. All this will obscure the good work that they are doing in entering new markets and new products in the other divisions. cheers
bouleversee: Yes, I did hear that but Boris promises a lot of things that never come to pass, wooded bridges over The Thames (while the existing ones are falling down), airports in funny places, superb test and trace systems, getting Brexit done (or not), etc. etc. and I doubt if we will see all those windmills in my lifetime. Anyway, like you, I have been too busy this week on other urgent matters to keep track of share prices but it's good to see them moving in the right direction. I see the directors were more on the ball and knew it was the right time to buy, though the FD immediately sold a big chunk of his option purchases at £521.67 netting himself a huge profit. I sometimes wonder whether share prices are manipulated to suit options. Disappointed by such a low dividend. At the moment, I'm more interested in income than usual and can't afford to risk any more capital.
roddiemac2: I am sure you are all aware that on Tuesday this week Boris pledged that offshore wind will will produce enough electricity to power every home in a decade. This is a sensible, if ambitious aim ( once upon a time we led the world in equally ambitious projects ) . Boris has announced £160 million of investment in ports and factories for a start." Analysts have suggested that reaching this target would require £50 billion of capital investment , and the completion of a turbine every weekday throughout the decade. " I like the idea of floating wind farms. FSJ is already well established in this arena. The potential now is massive. Illis, boule, I am sorry that I have not yet commented on the interim results. I have had a lot to deal with in the last couple of months , and investment has taken a back seat. Illis,-- I note that you have covered them well, as you usually do. boule, I don`t worry too much about the share price . Our job is to take advantage of markets when we judge them to be irrational. I added several times as the shares fell; time will tell.
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
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.
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