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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Gulf Marine Services Plc | LSE:GMS | London | Ordinary Share | GB00BJVWTM27 | ORD 2P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.10 | 0.65% | 15.40 | 3,749,544 | 16:29:57 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 15.35 | 15.50 | 15.50 | 15.00 | 15.40 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Ship Building And Repairing | USD 151.6M | USD 41.34M | USD 0.0386 | 3.99 | 163.7M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 16:44:24 | O | 325,000 | 15.1817 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 03/12/2024 | 07:00 | UK RNS | Gulf Marine Services PLC Contract |
| 13/11/2024 | 11:43 | ALNC |  IN BRIEF: Gulf Marine Services secures new contract; upgrades guidance |
| 13/11/2024 | 07:00 | UK RNS | Gulf Marine Services PLC New Contract Award |
| 11/11/2024 | 14:20 | UK RNS | Gulf Marine Services PLC TR-1 |
| 08/11/2024 | 11:00 | UK RNS | Gulf Marine Services PLC Block Listing |
| 28/10/2024 | 07:00 | UK RNS | Gulf Marine Services PLC Operations Update and Guidance |
| 10/10/2024 | 16:24 | UK RNS | Gulf Marine Services PLC Holding(s) in Company |
| 10/10/2024 | 13:08 | ALNC | Gulf Marine Services new contract wins boost backlog by nearly 20% |
| 10/10/2024 | 06:00 | UK RNS | Gulf Marine Services PLC Contract |
| 07/10/2024 | 15:03 | UK RNS | Gulf Marine Services PLC Holding(s) in Company |
Gulf Marine Services (GMS) Share Charts1 Year Gulf Marine Services Chart |
|
1 Month Gulf Marine Services Chart |
Intraday Gulf Marine Services Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 13/12/2024 | 17:10 | Gulf Marine Services plc | 2,682 |
| 14/10/2016 | 15:51 | gold mines of sardinia | 1 |
| 28/4/2009 | 22:09 | GOLD MINES OF SARDINIA - Agreement Finalised | 19 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 16:50:59 | 15.50 | 200,000 | 31,000.00 | O |
| 16:35:13 | 15.40 | 47,814 | 7,363.36 | UT |
| 16:21:23 | 15.38 | 9,779 | 1,504.01 | O |
| 16:18:39 | 15.40 | 715 | 110.11 | AT |
| 16:00:25 | 15.35 | 3,974 | 610.01 | AT |
| Top Posts |
|---|
Posted at 13/12/2024 08:20 by Gulf Marine Services Daily Update Gulf Marine Services Plc is listed in the Ship Building And Repairing sector of the London Stock Exchange with ticker GMS. The last closing price for Gulf Marine Services was 15.30p.Gulf Marine Services currently has 1,069,946,316 shares in issue. The market capitalisation of Gulf Marine Services is £164,771,733. Gulf Marine Services has a price to earnings ratio (PE ratio) of 3.99. This morning GMS shares opened at 15.40p |
Posted at 13/12/2024 17:10 by hpcg You are, for the most part, conversing with people here 2 years before Paul Scott mentioned it. The figures released by the company tell their own story. I am very surprised at the share price today, but I don't control any others in the market. I've been buying more on occasion in this period, though without increasing the proportion of my portfolio allocation. The influence of commentators here and elsewhere in the PI sphere is significantly overstated and diminishing all the time as the active investor base shrinks. Not only that but PS writes on Stockopedia, a product founded on the basis of factor investing. People that work off of tips have at best 5 figure portfolios and are utterly insignificant outside of micro cap stocks.Specifically on the subject of factors, even the interims are well out of date, with net debt having decreased from $238.5mn end H1 to $221mn end Q3 with similar to come this Q. Come the FY report those numbers will be clean(er) with just the distortion from the fair value adjustment of warrants, assuming no more are converted this year distracting from the trading numbers. Probably, as that depends on where the share price ends up on the last trading day of the year. Fed is likely to cut next week, but perhaps not at all in 2025. That's a modest cut to the interest bill in addtion to the lower interest rates on refinancing. Dollar is strong and as I have a sterling basis that adds to the attraction. |
Posted at 11/12/2024 12:20 by thebd11 HPCG, a very good and informative post. Just to add, I had a brief email exchange with CFO Alex yesterday who confirmed the following points: The warrants don't expire on refinancing - this was a point I particularly sought to clarify. Alex said that in "2023, we were having advanced discussions around refinancing with lenders that would have led to the warrants being returned to us. With the improvement in share price impacting valuation of warrants and with some other commercial considerations, we were not able to reach an agreement. The new deal doesn't cover the warrants". I had asked whether the refi announced in an RNS on 1st August this year would constitute a scenario where the warrants were no longer valid, but that's not the case. Additionally, Alex informed me that no new warrants have been exercised since 30th June, so the situation is still "53.4 million warrants potentially giving right to 83 million shares remain to be exercised up to June 30, 2025". This is as per RNS from 28th October this year. In terms of debt, from the 1st August RNS, the company has refinanced to bank debt which "will have a tenor of five years from the facility agreement date. 80% of the term loan will be amortized quarterly over 5 years with a 20% balloon" and that they "expect the transaction to close before December 31st, 2024." So, very soon hopefully on that! 2025 updated guidance should be issued this side of Xmas I believe. I would be surprised if there was 2026 guidance, just because the board would probably like the flexibility to decide next Summer what to do with the excess cash in terms of dividends / buybacks / reinvestment, so issuing 26 guidance might bind their hands somewhat on this. |
Posted at 11/12/2024 09:07 by investeverything Agree, no reason to sell this. Syria isnt an issue for GMS. Any buyer at 18+ needs faith and to think long term. The debt reduction and should really have an impact on the share price hopefully the long term debt ratio can stay low and look more attractive to future buyers. Have to think long term and not get caught up in wishing for another 100% short term run like we have seen in the past with this. Also think there could be some selling to free up funds for xmas? Thats what im hoping anyway lol. Again the day will come. Dont sell, INVESTEVERYTHING. |
Posted at 10/12/2024 17:47 by hpcg No one knows why the share price is weak, only the sellers. If you look hard for a geopolitical reason you won't find one. If you look at the backlog you won't find a reason. If you look at financial data you won't find a reason. There is a rational reason for one seller, which is warrant owners. Buyers being put off need to have more faith in their own process. |
Posted at 03/12/2024 09:33 by wigwammer Well that 2.9 consensus has translated into a $60m+ operational reduction in net debt. If that can carry on next year - or even improve - the share price should take care of itself. ATB |
Posted at 25/10/2024 13:25 by zho Panmure have raised their TP from 26p to 30p following a visit to GMS Endeavour.(The GMS website shows a picture of Endeavour installing (?) a wind turbine. It's currently moored at Larne, Northern Ireland. ) Text from note copied from LSE: With offshore wind sector capacity set to more than double by 2030, we see increased demand for GMS vessels in this sector. This offers an implicit counter cyclical hedge to the traditional oil & gas sector, and we see this as offering greater opportunities in the future for GMS The European wind sector is growing exponentially, with commissioned capacity forecast to reach 98GW by 2030 – well above the current commissioned capacity of 35GW. The UK has the greatest commissioned capacity in Europe at present (at 14.7GW), with a further 6.3GW currently under construction.....the growth across the wind sector will present huge opportunities to companies involved in any aspect of the sector. Consequently, it is clear that the demand for vessels to support the installation and maintenance of offshore windfarms is set to remain very strong in the coming years, with availability of vessels – such as GMS E-class vessels - likely to be a limiting factor. We believe that this latent demand increase will deliver higher day rates for vessels operating in Europe. Putting this into context, GMS Endeavour is averaging around five days per maintenance cycle per turbine (i.e. c60 turbines each year). With more than 2000 turbines already in place across the UK and Europe, it is clear that there is vast potential for long term maintenance contracts. ....the renewables market offers material growth upside for GMS. This is due to the sheer amount of demand that will come from new installations and by extension, maintenance required across the European offshore wind sector. We see this as offering greater scope for GMS to secure further contracts with major windfarm operators Target price raised from 26p to 30p |
Posted at 01/10/2024 11:40 by whites123 Im a buyer and supporter of GMS Gulf Marine Services for several reasons, especially considering recent selling activity by Seafox, via distribution, which presents a strategic opportunity for investors.The offshore support vessel sector, providing critical services to the oil and gas, and renewable energy industries, is experiencing renewed growth due to rising energy demand and global energy transitions. The ongoing selling by Seafox (By Distribution) a key shareholder, could be seen as a short-term negative. However, this presents a valuable opportunity for the market as shares transition from investors with little confidence (or strategic interest) in holding, to those who are bullish on GMS’s long-term potential. This transfer of shares is going to lead to a more committed shareholder base, driving stronger price support and stability. With a leaner cost structure and improving industry fundamentals, GMS is positioned for growth, and the shift of shares into stronger hands sets the stage for enhanced investor focus and performance gains. Never thought I would be presented with an opportunity to top up at these kind of levels. So happy to be adding. |
Posted at 30/9/2024 14:40 by hpcg Jsg123 - Seafox, a private company, talked to its shareholders about how best to distribute its share holding in GMS. Presumably some said, we'd like in-specie as we don't want any more given away at 17p. Others presumably said, we'd like in-specie because we want to convert some or all to cash. Whichever, the owners of Seafox, in majority, decided they wanted most of the GMS holding distributed with a rump held so that Seafox has influnece over GMS and no one does anything stupid like build new vessels. thebd11 would know a lot more so thank you for some more information.So far as I am aware the company does not need to ask permission from lenders to buy back shares now even. It shouldn't do until the leverage ratio is below 2 and interest is minimised. I think it does still require permission to pay a dividend, but will not once the new financing agreement has been executed. Its my opinion here, but I think companies should always distribute large shareholdings to their shareholders. It always reduces the overhang if a few want to exit. |
Posted at 01/8/2024 10:24 by someuwin Panmure LiberumNew US$300m banking arrangements and a dividend policy GMS has announced revised US$300m banking arrangements with three banks resulting in reduced interest rates of 250bp +EIBOR, (down from 300bp +SOFR) which will fall to 225bp +EIBOR when the net leverage falls to 2x. The facility also removes ‘most’ restrictions on dividends and share buybacks with GMS confirming it will pay 20%-30% of annual Adj. net profit to shareholders. We have assumed it will pay a dividend on the full year results of 2025 of 0.9p, implying a dividend yield of over 5%. We re-iterate our BUY recommendation and target price of 28p as the favourable macro-outlook and improved visibility sees GMS heading into 2H 2024 and beyond in its strongest position for years. ... The target price is based on the ‘net realisable value’ which we have defined as the net book value of the fleet less net debt, divided by the fully diluted number of shares. Using our assumptions for the net book value of the fleet at December 2024 which benefited from an impairment reversal of US$33m in 2023 (another indicator of the improved outlook for the sector) and our estimate of net debt at December 2024, it implies a value of 28p representing upside of c70%. As a sense check to justify the new target price, the resulting price-to-book ratio would still be only 1.0x illustrating that GMS still offers significant upside. |
Posted at 11/11/2023 11:15 by hpcg xxx - I've not seen the report directly so I don't know. I've corrected the link - the closing bracket had become integrated. As I said, as at June, and I presume later, Praetorian Capital has no GMS holding. I mention them because many investors are familiar with Kuppy and his approach, and he has be vocal about offshore oil services. Their big holding in the space is Valaris.The GMS share price really took off after an offshore conference in Sweden where more or less all the operators said they were not going to build any more kit. What people not familiar with the industry might not know is that the cyclicality is not caused directly by the oil price, but as a derivative of the oil price cycle. After a few years of strong oil prices service providers will have rebuilt their balance sheets and oil companies will sign up long term lucrative contracts to secure the equipment they need. At that point service providers draw a straight line upward pointing line on demand and choose to massively expand their fleets using debt. This leads to an horrific and long lasting trough when oil prices turn over and oil companies draw in their budgets. If no one falls into this trap, or for that matter financiers just aren't interested then there is nicely balanced supply and demand which is resulting in stable cash flows with good visibility. Rates should keep up with inflation, margins should be maintained which leads to wads of free cash to pay down debt and in 2-3 years make returns to shareholders. Of course there is some far out longevity in terms of servicing offshore wind farms, but market dynamics there do not allow for boom-bust cycles so fleet sizes should very much remain balanced. |
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