Hill & Smith Share Discussion Threads

[tomps2] 09/3/2023 18:07:03

Hill & Smith Full Year 2022 results presentation.

hxxps://www.piworld.co.uk/company-videos/hill-smith-hils-full-year-2022-results-presentation-march-23/

Alan Giddins, Executive Chair
00:17 Introduction
00:29 Highlights

Hannah Nichols, Group CFO
01:58 Financial highlights
03:28 Galvanizing
05:23 US Galvanizing
07:44 Engineered Solutions
09:58 Roads & Security
12:46 Cash generation & financial position
15:20 ESG

Alan Giddins, Executive Chair
17:52 Financial framework
19:11 Group overview
20:09 US Infrastructure Bill
21:22 Acquisitions – National Signal
22:46 Acquisitions – Enduro Composites
23:26 Acquisitions – Korns Galvanizing
23:56 Outlook

[philanderer] 09/3/2023 14:48:05

Shore Capital cuts Hill & Smith after strong run


Shore Capital has downgraded Hill & Smith (HILS) as the shares in the specialist barrier manufacturer look ‘fairly valued after a good run’.

Analyst Tom Fraine downgraded his recommendation from ‘buy’ to ‘hold’. Shares fell 6.7%, or 94p, to £13.20 on Wednesday following a 14% increase in both revenue and profit for 2022.

Fraine forecast an operating profit of £105m for this year but said it was ‘very conservative’ and he sees ‘scope for upgrades’.

‘We believe the company is well placed to navigate through adverse macroeconomic conditions, with close to half of its sales driven by public sector spending,’ he said.

‘The shares trade on 16 times our upgraded full-year 2023 earnings per share forecasts… and now appear to be fairly valued. We downgrade our recommendation…; following a strong recent share price performance, and see more upside for [infrastructure services provider] Renew (RNWH), which is considerably cheaper despite generating higher returns on invested capital, higher historic earnings growth, and having a lower risk profile.’


citywire.com

[bothdavis] 08/3/2023 16:58:02

Just hope Hill & Smith don't decide to transfer listing to USA!

[philanderer] 08/3/2023 14:57:35

Investors Chronicle:


Hill & Smith well positioned for US infrastructure splurge

US infrastructure spending supports the long-term business case

....At 16 times consensus earnings, the shares don’t exactly scream value, but the technical outlook turned positive midway through January, and there is a forward yield of 2.8 per cent, marking this as a viable lower-risk addition to your portfolio.

Buy.


article:-

[albert arthur] 08/3/2023 12:15:48

DD just in.

[philanderer] 08/3/2023 09:24:44

Happy to hold.

today's acquisition:

[albert arthur] 08/3/2023 09:11:11

Yeah, end of tax year, also Fed didn't help with last nights announcement...

[suetballs] 08/3/2023 08:31:36

After a good run a bit of a retrace here.
Not unexpected.
Suet

[rimau1] 08/3/2023 07:49:12

High quality operation. This was one of my buy and forgets, USD earning tailwinds should give us a nice kicker in 2023. Deserves a premium rating IMO, 18x would be around 1,710 which is my target.

[albert arthur] 08/3/2023 07:10:48

Nice results.

[albert arthur] 07/3/2023 17:31:01

Cap at AHT is much bigger too... expect this might gap on open tomorrow and do well.

[philanderer] 07/3/2023 13:50:03

Maybe a read across from Ashtead today...

"...Chief executive Brendan Hogan said: 'Our business is performing well with clear momentum in strong end markets, which are enhanced by the increasing number of mega projects and recent US legislative acts.'"

[albert arthur] 06/3/2023 14:32:52

Based on the last 2 updates the results should be good..

[philanderer] 06/3/2023 13:57:45

Results wednesday

[philanderer] 24/2/2023 11:24:09

Hill and Smith helps nature thrive with naturalist app

[philanderer] 20/2/2023 10:26:55

Today's acquisition website..

[philanderer] 01/2/2023 10:21:15

Jefferies raises Hill & Smith price target to 1,510 (1,400) pence - 'buy'

[philanderer] 26/1/2023 13:14:15

US exposure a boon to Hill & Smith, thinks Shore Capital


Specialist barrier manufacturer Hill & Smith (HILS) is being supported by public sector spending and greater exposure to the US has left it well positioned, says Shore Capital.

Analyst Tom Fraine retained his ‘buy’ recommendation on the transport infrastructure company, which was rose 1.1% to £12.74 after a full-year trading statement on Wednesday.

Hill & Smith said it expected full-year operating profit to be at the top end of the current analyst consensus thanks to outperformance in the US.

‘We believe the company is well placed to navigate through adverse macroeconomic conditions, with close to half of its sales driven by public sector spending,’ said Fraine.

‘The quality of the group has increased through recent M&A and the US now drives more than 50% of underlying operating profit. It is well positioned, in our view, to grow its high-margin galvanising business and increase sales into the US and UK highways market,’ the analyst said.


citywire.com

[philanderer] 25/1/2023 10:08:27

Fine update.

[rimau1] 25/1/2023 07:32:47

Should get a nice bounce here this morning, TU out with an exceeding expectations driven by the US.

[philanderer] 05/1/2023 10:36:31

Royal London: Hill & Smith can defy downturn


Specialist barrier manufacturer Hill & Smith (HILS) should continue to perform strongly given its end markets despite the uncertain economic outlook, says Royal London’s Craig Yeaman.

Yeaman holds the stock in his £807m Royal London UK Opportunities fund and in his latest update said the ‘manufacturer of infrastructure products was another contributor to performance’ at the end of 2022.

‘Investors reacted positively to a trading update where the company announced double-digit organic revenue growth, which enabled management to upgrade earnings guidance for the full year,’ he said.

‘While being mindful of the macroeconomic environment, management remains positive for the near-term outlook of the business given the end markets it is exposed to.’

The group also completed the £22.2m acquisition of US-based solar-powered lighting business National Signal in the fourth quarter. This followed the investment in Prolectric Services, which enabled it to gain a foothold in the off-grid solar lighting and energy solutions market.

Hill & Smith shares dipped 1% to £11.77 on Wednesday. They have fallen 35% in the past year.

citywire.com

[philanderer] 30/11/2022 14:20:02

xd tomorrow morning for the 13p dividend

[philanderer] 17/11/2022 00:37:17

WHAT DO ANALYSTS THINK?

Following the update and the increase in guidance, analysts at Shore Capital raised their 2022 operating profit forecast to £93 million but left their 2023 estimates unchanged due to the uncertain economic outlook.

However, given the company’s record of managing expectations, they say they see ‘increased scope for upgrades’ thanks to the firm’s exposure to public-sector infrastructure spending and its US presence which thanks to several recent deals drives over half of operating profits.