Hunting Share Discussion Threads

[bossman1978] 08/10/2008 13:00

At last a bit of sense in the market. At the rate we are going everyone will be bust. lol

[pyman] 06/10/2008 11:45

eek! got cheap again

[bossman1978] 03/10/2008 11:56

Why can hunting not start a buy back program to kick start the sp

[pyman] 01/10/2008 11:36

it was cheap!

[a3477681] 01/10/2008 09:15

For the same crazy reason it went down.

[chetan19] 01/10/2008 09:06

Anyone know why the share price has gone up so much today??

[wjccghcc] 30/9/2008 23:57

They do have some debt - 139mm at the last figures I think.

[pyman] 30/9/2008 14:02

gibson sale was in canadian dollar. As $ has improved v the £ and if unhedged I m reckoning sale looks more like £660m. Of course it depends wether they then go and buy Canadian assets. Mkt cap of £820m with 660m cash coming through and a remaining business booking 24m pre tax with good growth. Looks good- so why the selling? carlye look ok - deposit 49£m on the purchase of gibson so they ll come through. Just cheap i guess....

[pyman] 29/9/2008 10:34

Hmm. I suppose the head and shoulders pattern started in March has completed its journey .

[bossman1978] 27/9/2008 16:19

I think it is the shorters, after the the oil and mining sectors. I also think it is the general market sentiment at the moment. What a drop in the sp!!

[bossman1978] 27/9/2008 16:18

Financial Highlights *





· Revenue in period £201.2m (2007: £214.5m)

· EBITDA pre-exceptional items for continuing operations increased 14% to £32.1m (2007: £28.2m)

· Profit from continuing operations before exceptional items increased 11% to £23.9m (2007: £21.5m)

· Basic EPS before exceptional items increased 32% in the period to 9.6p (2007: 7.3p)

· Interim Dividend increased 14% to 2.9p (2007 : 2.55p)

[old giggleswickian] 26/9/2008 20:20

Maybe below is the problem, all those minusses. A 52% drop in turn over, 11% drop in profits. Could it be that some people out there think that £80m profit for the year is anything other than excellent. If you take these figures at face value they don't look good but there are those of us that think differently! If the £80m figure is anywhere near the mark we will be laughing, eventually.
Type Report Date Turnover (m) Pre-tax Profit (m) EPS Adjusted Dividend
Final 31-Dec-08 £930.81 -52% £80.49 -11% 37.84p -14% 9.09p +10%

Ian.

[bossman1978] 26/9/2008 12:47

I just cannot see any reason for this dive in the share price Is it possible the the shorters could be targeting other sectors?????

[pyman] 25/9/2008 13:03

wow. no kidding.no change in fundementals unless they are overpaying for an aquistion

[bossman1978] 24/9/2008 16:57

This share has really dropped in price. Any-one an reasons for this, or is it just market sentiment??

[pyman] 10/9/2008 10:30

came down with a bump lately. Back to £8 support.

[robson1974] 29/8/2008 22:59

or Plexus or Rheochem

[pyman] 29/8/2008 18:37

yup- spend that cash fast!!!

[robson1974] 28/8/2008 21:30

they sold the relatively low quality bit which required higher capex with lower potential returns so they could increase investment into the higher quality bit with higher potential returns it is brilliant but this stock despite being a £1000m company is covered by about zero analysts in UK and oil services is not a big UK sector so the level of coverage is dire.

that is why private equity companies and likes of GE can come and buy companies like Sondex and Expro on 30x PE and surprise everyone by paying big premia because investors in the UK do not 'get it'

Hunting is now a sitting duck, it is left with its high margin high growth high quality Expro/sondex type oil services business but on a multiple of about 9x EV/EBITDa (ex-ing out cash) compared with typical exit multiples in the industry of 12-13x

[old giggleswickian] 28/8/2008 21:14

beercapafn,
The company was in two distinct parts with the most agressively expanding part on the verge of overtaking the other. The other has now gone and we are left with "the best bit" and a whole heap of money which can fund expansion. With a divi that amounts to next to nothing we need some significant expansion to keep moving forward. A pile of cash will not in itself generate big returns.

Ian.

[beercapafn] 28/8/2008 21:01

Thanks Ian, I did not realize that it was such a big chunk of their income.

Jim

[old giggleswickian] 28/8/2008 20:21

beercapafn,
They sold just over half the company for just over half the value of the company (£625m). They have effectively halved their income in the hope that they can redeploy the equivalent of the entire capitalisation of the on going business to grow said business. This company has been tremendously sucessful over the last 6 years and the on going business is performing well but in a way they are starting afresh. All they have to do now in effect is to start another business that will generate an annual profit of £50m which will increase at a reasonable rate. A continued long term hold methinks.

Ian