The share price started to decline when they said their North American business had weakened but Trump's 'drill baby drill' mantra has changed sentiment and the company has confirmed it has not worsened. Also, look at the U-turn BP are doing, back to drilling and putting green ambitions aside for a while, they reckon they'll double market cap with 5 years and regain some of their former glory. Others must be thinking the same, it can only be a matter of time before the share price here changes direction imo. |
Tks W.
Not sure why A picked this one, guessing recovery play?
MW 0.49%, I tend to join rather than bet against.
6 March, we will see.
SP tipped it prior to the drop Oct, whoops. |
 Hunting PLC Positioned for Growth with Strong FY24 Results – Equity Development
Hunting plc
Anthony Fox
DIRECTORSTALKINTERVIEWS.COM
January 14, 2025
8:43 am
Hunting PLC (LON:HTG), a global engineering group with a rich portfolio of precision-manufactured products, continues to showcase resilience and growth, despite facing variable market conditions in 2024. As the company’s financial year wraps up, it remains on track to meet its upgraded EBITDA guidance of $123–126 million, marking an impressive 22% year-on-year growth.
The company’s OCTG (Oil Country Tubular Goods) and Subsea product groups have been standout performers, driven by elevated order intakes. On the other hand, Hunting Titan/Perforating Systems faced challenges in the North American onshore markets.
Reflecting on the mixed landscape, Research Analyst Toby Thorrington commented:
“Hunting’;s OCTG and Subsea activities will show the largest absolute contributions to FY24 profitability and the most significant year-on-year uplifts, both being driven by elevated order intake. Advanced Manufacturing should also show good progress, albeit smaller in quantum.”
Financial Strength and Future Prospects
Hunting’s strong net cash position of $100–105 million at year-end, bolstered by successful shipment deliveries and cash collection schedules, places the company in a prime position to capitalise on merger and acquisition opportunities. Combined with $300 million in updated banking facilities, the company is well-equipped to advance its 2030 strategy, launched in September 2023.
Looking ahead to FY25, Equity Development anticipates EBITDA for wholly owned businesses to be in the range of $135–145 million, while the inclusion of joint ventures could push this figure higher.
Key areas of interest include a flagged restructuring in the EMEA region, ongoing improvements in commodity prices, and robust group order book developments, which stood at $500 million by the close of FY24.
Hunting Plc Share Price Outlook
The past year saw Hunting’s share price end slightly lower, though it remains undervalued according to Equity Development’s assessment. The broker retains a fair value estimate of 397p per share.
Commenting on the valuation, Thorrington noted:
“We believe that Hunting’s current share price is discounting levels of profitability significantly lower than the group is currently achieving.”
Final Thoughts
Hunting PLC’s commitment to innovation, operational excellence, and strategic growth remains steadfast. While challenges persist in specific markets, the company’s financial health and strong order pipeline provide confidence in its ability to achieve long-term growth. With FY24 results expected on 6 March 2025, stakeholders can anticipate further insights into the company’s performance and prospects. |
HERES TO A POSITIVE REPORT ON 6th march
Hunting plc
LON: HTG
> Hunting plc
319.50 GBX +2.00 (0.63%)
Feb 24, 09:25 GMT
306.00 GBX 08:15
Open
303.00
High
320.50
Low
303.00
Mkt cap
524.51M
P/E ratio
5.30
Div yield
2.59%
52-wk high
465.37
52-wk low
278.00 |
Looks like it is heading for 300 again! |
Henry Hub Natural Gas price approaching 4: |
From Equity Development FWIW:
Good FY24 progress, despite variable end markets
Hunting has reaffirmed that FY24 EBITDA will be in line with October’s revised US$123m-126m guidance, the midpoint of which represents c.22% y-o-y progress. As previously noted, the OCTG and Subsea product groups have delivered strong performances while Hunting Titan/Perforating Systems (PS) has had to contend with depressed North American onshore activity levels.
Management has again raised year end net cash guidance (and for the third time during FY24) to US$100m-105m driven by successful shipment delivery and cash collection schedules we believe. Together with US$300m recently updated bank finance facilities, this places Hunting in a strong position to progress its 2030 strategy.
Compared to our last update, we note that the group net cash position and stronger US dollar (now £/US$1.21 versus 1.31 previously) are both more favourable inputs. For now, we believe that Hunting’s current share price is discounting levels of profitability significantly lower than the group is currently achieving.
We retain our fair value / share at 397p. |
This certainly should be back over 400 in the coming weeks. The sell off from the 450 levels some months ago always seemed exaggerated, but is and remains a good buying opportunity |
Marshall Wace LLP increased short position to 0.51% on 10.01.25.
Reduced back down to 0.47% on 14.01.25 (day of update). |
Berenberg raises Hunting price target to 480 (460) pence - 'buy' |
 I trade short term knocknock.
Any angle for a price move higher is appreciated. The way this moves, one short is enough. If they capitulate, they can drag the price alot higher. I don't know if Wace are looking at that update and how this price is rocketing and are covering, or considering covering, but certain shares can be...well...squeezy so worth a go.
It might just be part of some long/short strategy for Wace too. This got away on two occasions in the past - it moves like a loon. Nice to get a piece of it this time.
In contrast, the other buy CARD is moving like shorts are actually adding with price points being closed off - that looks a fail. Long termers must be pulling their hair out on that reaction.
Right, I'm going....been handed one of the four nasties doing the round this winter by a family member.....thought id avoided it...Fanks!
Fanks alot!
So time to see how much of a kicking is about to happen.
On the plus side, maybe a well timed vertical sneeze can change some "-" percentage movements to "+" movements
Just gorra time it right....
Broken terrible market fixed!
All imo
DYOR |
Edit. actually 0.48percent |
Shorts reduced considerable here over last two weeks think a previous poster mentioned down to less than 4percent |
From Equity Dev't FWIW:
Hunting has reaffirmed that FY24 EBITDA will be in line with October’s revised US$123m-126m guidance, the midpoint of which represents c.22% y-o-y progress. As previously noted, the OCTG and Subsea product groups have delivered strong performances while Hunting Titan/Perforating Systems (PS) has had to contend with depressed North American onshore activity levels. Management has again raised year end net cash guidance (and for the third time during FY24) to US$100m-105m driven by successful shipment delivery and cash collection schedules we believe. Together with US$300m recently updated bank finance facilities, this places Hunting in a strong position to progress its 2030 strategy. Compared to our last update, we note that the group net cash position and stronger US dollar (now £/US$1.21 versus 1.31 previously) are both more favourable inputs. For now, we believe that Hunting’s current share price is discounting levels of profitability significantly lower than the group is currently achieving. We retain our fair value / share at 397p. |
Bought at the open here (posted it on the CARD forum too early), for a similar sort of reason to buying CARD at the open. Might be wrong, but I think the market is expecting worse. There are shorts sat in both too. I don't know if the updates are good enough to squeeze them abit. It is always about the follow through.
A close above 315p here is a breakout. Nice chart if it does follow through with a strong intraday movement and positive close.
Is that expecting too much in this market?
All imo
DYOR |
Looking good. I wonder how the market will react though!
Thanks for link Edmond |
"Good FY24 progress, despite variable end markets" - new research and audio summary below
Hunting has reaffirmed that FY24 EBITDA will be in line with October’s revised US$123m-126m guidance, the midpoint of which represents c.22% y-o-y progress. As previously noted, the OCTG and Subsea product groups have delivered strong performances while Hunting Titan/Perforating Systems (PS) has had to contend with depressed North American onshore activity levels.
Management has again raised year end net cash guidance (and for the third time during FY24) to US$100m-105m driven by successful shipment delivery and cash collection schedules we believe. Together with US$300m recently updated bank finance facilities, this places Hunting in a strong position to progress its 2030 strategy.
Compared to our last update, we note that the group net cash position and stronger US dollar (now £/US$1.21 versus 1.31 previously) are both more favourable inputs. For now, we believe that Hunting’s current share price is discounting levels of profitability significantly lower than the group is currently achieving.
We retain our fair value / share at 397p.
Link to note: |
Update seems fine to me |
JEFFERIES CUTS HUNTING PRICE TARGET TO 450 (530) PENCE - 'BUY' |
I don't subscribe but UK Investor has an article - the free part of which says:
Hunting – Look out for the 2024 Trading Update next Tuesday, it could well prove pivotal in this group share price turning back upwards again
Next Tuesday morning will see Hunting (LON:HTG) issue a Trading Update for the year to the end of last month.
In late October last year, the company gave out a lower-than-expected guidance for the year, the effect of which was enough to swipe more than 23% off the group’s shares, seeing them back to 299p from 389p the day before.
They are now edging gently better, currently 303.50p, ahead of next week’s statement.
----
The full article can be found here if anyone does subscribe - or wants to etc;
hxxps://ukinvestormagazine.co.uk/share-tip-hunting-look-out-for-the-2024-trading-update-next-tuesday-it-could-well-prove-pivotal-in-this-group-share-price-turning-back-upwards-again/ |
YepI bought in last week, surely bullish and oil is breaking out a little now at last. |
Added back a few here with Trump incoming |
short reduced to 0.48% on 30.12.24. |
Drift continues. Now on a fcst p/e of 8.1 and peg of 0.2! |
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