Excellent news again |
that's a monster |
Dividend in my account, decided to sell a small amount (20%) after such a good rise making Hunting more fairly valued now |
Indeed. Maybe the direction of travel has shifted. And the net zero hysteria is abating..given that we are waking up to the cost of it... |
And morehttps://www.telegraph.co.uk/business/2024/05/03/north-sea-oil-drilling-net-zero-deadline/ |
More good newshttps://www.theguardian.com/environment/article/2024/may/02/sunak-to-allow-oil-and-gas-exploration-at-sites-intended-for-offshore-wind?CMP=Share_iOSApp_Other |
So what the hell was all that about? |
Ahead of management expectations and the share price is down 4% - that’s LSE!
‘Positive start to the year, with EBITDA of c.$28.9 million during Q1 2024 (Q1 2023 - c.$22.4 million), marginally ahead of management's expectations.’ |
Forward PE anyone? |
Why do we bother |
 "On track to deliver further progress in FY24" - new research report here:
Commentary and financial metrics in Hunting’s AGM/Q1 update confirm that the company has progressed in line with its FY24 targets thus far in year-to-date trading. Q124 EBITDA was well ahead year-on-year. This represents a good step towards the flagged US$125m-135m range for the year, with ongoing momentum in the strongest market segments.
Group revenue has continued to grow well, being up c.16% year-on-year in Q1 and c.7% ahead compared to Q423, a strong quarterly close to FY23. Shipments against previously disclosed large contracts in the OCTG and Subsea product groups and broad business development in Advanced Manufacturing have been the primary drivers in generally firm underlying markets.
While the group order book has nudged c. US$21m lower than the year end position as larger orders are worked through, US$544m on hand at the end of March still represents a strong position in a historic context. We are also aligned with management expectations for inventory positions unwinding over the remainder of the year.
Updating our P/E and DCF methodology for market movements (including £/US$1.25) now yields a blended fair value for Hunting of 436p / share: up from 407p and over 20% above the current share price. |
No issues there in the trading update |
Shout out by Roland from stockopedia at around 10 mins. Seems he has a position with us. Notes the potential for good growth at a reasonable price but not a hold forever stock. https://www.youtube.com/live/HnAnm-SZEWc?si=SVBJrwxZV1rw5X1A |
Good update being expected I take. |
Broke out yesterday. Hopefully this is the beginning of a nice run over the next 6 months. |
Been a good couple of weeks here |
Update 17th AprilAnyone going to the AGM? |
It is squeezing up again on support after that last fake out. Shouldnt be too long now till we see another big move. The lows are getting higher and higher. Absolutely massive order today so probably some funds arranged a large trade. I wouldn't be surprised if a US value fund was the buyer. If you look at Saipem that has just broken out and has been going vertical the forward PE is about the same. |
Decent volume today |
Great recoveryStill good value as will be multi year improvement in business |
dunno but its very welcome. I think this sector is about to have a reset. |
What's with the jump other being under valued at current share price level |
I'll be buying back the few I sold and some at this rate |
shocking.
HTG and Nat Gas make good bedfellows. |
Don't you just love the London stock market!!! |
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