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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Hyder Cons | HYC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 748.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 748.50 | 748.50 |
| Top Posts |
|---|
Posted at 12/6/2014 12:32 by pcourt Looking better today and Chronic Investor positive on it..... |
Posted at 30/9/2013 20:25 by friendlybrit September 30th, 2013 - 0 comments - Filed Under - by Marcella SimdornEquities research analysts at Numis Securities Ltd upped their price objective on shares of Hyder Consulting (LON:HYC) from GBX 550 ($8.87) to GBX 620 ($10.00) in a research note issued to investors on Friday, AnalystRatingsNetwor Shares of Hyder Consulting (LON:HYC) traded up 3.90% during mid-day trading on Friday, hitting GBX 506.00. 8,524 shares of the company's stock traded hands. Hyder Consulting has a one year low of GBX 373.00 and a one year high of GBX 520.00. The stock's 50-day moving average is GBX 483.8 and its 200-day moving average is GBX 464.5. The company's market cap is £192.8 million. Several other analysts have also recently commented on the stock. Analysts at Investec reiterated a "buy" rating on shares of Hyder Consulting (LON:HYC) in a research note to investors on Friday. They now have a GBX 535 ($8.63) price target on the stock. Separately, analysts at Panmure Gordon raised their price target on shares of Hyder Consulting (LON:HYC) from GBX 488 ($7.87) to GBX 550 ($8.87) in a research note to investors on Friday, August 9th. They now have a "buy" rating on the stock. Six investment analysts have rated the stock with a buy rating, The company presently has a consensus rating of "Buy" and an average price target of GBX 554.27 ($8.94). |
Posted at 19/10/2010 15:06 by grigor Engineering consultant Hyder offers investors exposure to healthy growth across an array of international markets |
Posted at 15/10/2010 12:22 by rivaldo GCI have recommended HYC today - subscriber-only, but could bring in some interest:"Share Recommendations Hyder Consulting 15/10/2010 Engineering consultant Hyder offers investors exposure to healthy growth across an array of international markets....." |
Posted at 26/7/2010 15:36 by wcjan26 WSP Group [WSH LN], a UK-listed engineering consultancy, today played down the prospect of a "Scott Wilson-type" takeover of the company, but acknowledged that the sector had become attractive to overseas buyers."We're not worried about a bid, but we're not excluding the possibility either," WSP's chief executive Christopher Cole told this news service in an interview. The recent two-way bid battle between URS and CH2M Hill, two US construction companies, for UK-listed consultancy Scott Wilson [SWG LN] has highlighted the attractions of this support services sub-sector and some analysts have tipped WSP as the next possible target because of its high level of overseas earnings. URS eventually sealed the Scott Wilson deal with a bid of 290p per share a massive 230% premium to where the shares were trading before the bid and nearly 16.0x last year's earnings. This is thought to be one of the highest takeover premiums paid for a UK company over the past ten years. The bid values Scott Wilson at GBP 223m. The voting record time for the Scott Wilson deal is 6:00 pm on 28 July ahead of the 30 July court meeting. "At these sort of premiums, our shareholders might like us to be vulnerable to a takeover," said WSP's Cole. "But, unlike Scott Wilson, we don't have a 'for sale' sign over the company and being twice the size of Scott Wilson any potential bidder would have to have deeper pockets." With its shares trading at 324.5 pence on Monday in London, WSP is currently capitalised at about GBP 207m. Following the approaches for Scott Wilson, its shares have outperformed the market and it currently trades on a current year price/earnings ratio of about 10.0x. "Multiples have been moving up across the whole industry, including the private sector. This makes it much harder for us to pursue our own acquisitions strategy, especially with some cash-rich overseas buyers still actively looking around," Cole continued. While CH2M Hill was forced to walk away from the Scott Wilson deal, analysts believe it still remains a potential buyer of UK assets. Other US names linked to the sector include Aecom and Jacobs, while European firms Poyry, the Finnish-based company, and Dutch groups Arcardis and Grontmij, are all highly acquisitive in this space. "Overseas players are keen to diversify and looking for 'cheap' acquisition opportunities that will expand their international operations with little downside risk. The more favourable exchange rate especially on the dollar/sterling rate - is also making UK companies more attractive to overseas buyers," one analyst said. WSP derives around two-thirds of its earnings overseas. On the subject of acquisitions, Cole said WSP was still keen to make complementary bolt-on deals between GBP 10m to GBP 20m in size. "We would like to increase our exposure to the Benelux countries, while infrastructure assets in the US and Australia are two other areas we are looking at. The renewable energy sector is another area where we could leverage our existing expertise." Net debt at end-June 2010 stood at about GBP 70m, while the group has a GBP 150m banking facility in place until 2013. "We have plenty of headroom on the balance sheet for small, infill deals. A more sizeable transaction may require a capital raise and this is a possible option for us," said Cole. He pointed out that a beneficial by-product of the Scott Wilson takeover had been to improve the company's share price and put a peg under WSP's stock market valuation. "This would make it easier for us to raise fresh capital if needed," Cole continued. The group is planning to hold an Investor Day in early November when the board is expected to update shareholders on its future strategy. Meanwhile, half-time profits from WSP illustrated the resilience of the group's overseas earnings with a strong performance from the North European operations helping to mitigate tougher conditions in the UK and US. Overall, group revenues were down by 9% in constant currency terms to GBP 354m, while operating profits were steady at GBP 18.3m. |
Posted at 29/6/2010 08:35 by rivaldo Nice - thanks fallenbull. Worth reproducing in full as it's a decent summary. I like the 400p-450p valuation:"The dramatic premium - well over double recent market value - being offered by at least one US bidder for Scott Wilson Group (SWG) suggests the market has been overly cautious towards small cap engineering consultants. After I flagged bid potential in SWG as one reason why it rated a 'Share for 2010', the drift in its price from about 100p near 80p - then bid approaches - exemplifies this and is a good lesson not to be swayed by market sentiment. Reportedly, both American and European firms have examined SWG as they look beyond short-term issues with the business cycle to how well such consultancies can perform in better times. Despite fears over UK public sector spending, SWG has also just released better-than-expected figures for the 12-month period to 2 May, with a doubling of operating profit helped by cost cutting. This is noteworthy for other such listed consultancies of which Hyder Consulting (HYC) merits attention given about 70% of revenues derived from overseas and only about 10% exposure to the UK public sector. This is a 'modest multinational' capitalised at £113 million yet with a genuine heritage as one of the world's longest established engineering consultancies - being involved with high profile projects such as London's Tower Bridge, Sydney Harbour Bridge, the Taiwan High Speed Railway and Berlin's main station. A group restructuring in 2009 has more closely attuned it to client needs in four key sectors: transport, utilities, property and the environment. Management points to higher margins and better cash generation as proof this means a stronger position going forward. The market remains jaundiced, however, with HYC down about 5% to 295p, yet for patient investors the prospect looks opportune. On a standalone basis, the forward price-earnings multiples applied to SWG and HYC have both been about seven times. Company REFS shows the consensus broker forecast on HYC is for normalised earnings per share to remain effectively static at about 40p, from the last financial year to end-March 2010 through to 2011/12. Even so, there is a solid profit and earnings record which rates the shares as investment grade. The recent 2009/10 prelims cited Asia-Pacific and the Middle East as key areas, with exposure to Dubai about 10% of group revenue - helping to explain why sentiment has been cautious. HYC has been architect and engineer for the world's tallest building, quite symbolising Dubai's over-ambition. Slowdown there explains why HYC's order book has fallen from £384 million to £346 million although more positively, over 60% of the next 12 months' budgeted revenue is secured. About 70% of revenue and 80% of operating profits earned overseas, across different sectors. Typifying a consultancy type business, HYC's balance sheet has significant intangible assets: £42.2 million of £63.5 million non-current assets, relative to £67.6 million net assets. At end-March there was £2.6 million short-term debt and £15.1 million long-term, more than offset by £21.4 million cash. So HYC has a strong balance sheet with ample scope for acquisitions given total borrowing facilities of £46.5 million. Management remains quite coy however beyond saying it maintains "a pipeline of opportunities". HYC's strong cash position quite begs the question whether more should be returned to shareholders. Consultancy businesses are inherently cash generative, not needing large ongoing investment to remain competitive. So although HYC has proposed a 33% increase in its dividend to 6.0p, covered 5.8 times by fully diluted earnings per share, the prospective yield is only about 2% and edging up - which is hardly significant. There was a gross interest charge of £2.2 million, so despite its being insubstantial against £15.2 million operating profit, the board would probably still argue in favour of paying down debt or making acquisitions, than a further distribution to shareholders. So the main questions for shareholder return here are twofold: what scope for an improvement in the price-earnings multiple from about seven times currently, and might HYC end up getting approached like SWG? Over 2006-07, HYC enjoyed a P/E multiple in the late teens to mid twenties, its share price rising from 475p to 565p. While showing what consultancy firms can achieve by way of financial values, this was arguably a feature of the easy money years stimulating the global construction industry - and they are hardly set to return soon. With the bear market, HYC slumped to 74p and its P/E multiple averaged just five times last year even though the extent of de-rating owed more to sentiment than operating issues. By last September, HYC was able to assert revenue and operating profit at the top end of expectations. The challenge the shares face now is whether HYC can beat the sense of lacklustre earnings growth within the next two years, with a similar announcement that it is - ideally - ahead of budget. The market is likely concerned about the risk of global recovery faltering. So your best approach here is to tuck the shares away on a minimum two-year view, by which time both the earnings outlook and P/E multiple should have improved. I target 400p to 450p a share, on a standalone basis. There is just a possibility that after being drawn into the contest for SWG, dissatisfied suitors may look elsewhere in the London-listed sector. Two American firms currently involved show the appeal of UK-listed assets given the recent strength of the US dollar versus sterling." |
Posted at 09/6/2009 11:58 by momentos Various articles:BTW, at the bottom of the IC page it says: Last IC view: Good value, 365p, 25 June 2009. (?!) Now if they get that right I may even start buying the magazine! |
Posted at 08/4/2009 18:16 by sleveen anyone know who Mr& Mrs Eden are? probably just wealthy private investors. |
Posted at 11/6/2007 19:24 by stegrego Glad i bought in at 419 on the March dip... looks like a may of caught the bottom exactly for a change.Looking very good for the future GCI update Companies: HYC 11/06/2007 Margin gains and sector-leading operating profit growth were just two annual highlights from Hyder Consulting, which beat market forecasts with figures for the year to March. The engineering design, planning and environmental consultant originally profiled by Growth Company Investor at 310.75p grew adjusted pre-tax profits 50% to £10.4m and operating profits by 36% to £11.4m last year on more modest 19% sales growth to £203m. 'We're not deliberately growing the top line, 'we're trying to drive the bottom line,' explained chief executive Tim Wade, pointing to growth in operating margins to 5.6% (4.9%), edging the group closer to its stated 10% target. Annual highlights included an improved performance in the UK, where the transport and water sectors proved strong, as well as good growth in Australia, where the roads and bridges market proved a fertile hunting ground. The Middle East, where Hyder has operated for more than 30 years, continued to excite, with the UAE, Qatar, Bahrain, Kuwait and Saudi Arabia all remaining buoyant. Last year the group pushed on with its ambitious acquisitions programme, completing three deals worth a maximum potential £9.1m. Brought into the fold were the UK environmental consultant Cresswell Associates, civil engineer Munnich Projekt in Germany, and ACLA, a landscape architects business in Hong Kong and China that has increased the proportion of higher margin advisory work Hyder carries out in China. Subsequent to the year-end, UK cost consultancy RPA was acquired and Wade remains on the lookout for infill acquisitions in existing territories and sectors. Hyder trades on a historic earnings multiple of 18.75, undemanding given earnings grew 41% last year, and a 60% dividend hike to 2p adds to the investment appeal. This well-managed business has bags of growth to go for in buoyant markets and we think the shares remain good value even after an impressive rise. Add. |
Posted at 10/6/2007 13:21 by stegrego Midas: Hyder aims to double its marginsMidas is edited by Joanne Hart 10 June 2007 Hyder Consulting does not make things itself but helps other companies to do so. The business advises on and designs a wide variety of building projects, ranging from roads to bridges to water pipes to buildings. It is currently advising on a £5bn scheme to update the M25, as well as the construction of the Burj Dubai, a mixed-use development that will be the tallest building in the world, with 161 floors. Advice does not focus purely on construction but includes helping companies to work out how to be environmentally friendly when they embark on major projects. Hyder Consulting listed on the stock market in 2002 but it can trace its history back 150 years, when it designed and built The Novelty, a steam engine that rivalled Stephenson's Rocket. More recently, the business was part of Welsh Water but management bought the company out in 2001, since when it has doubled in size and is now valued on the stock market at more than £170m. Hyder makes half its money in the UK and the rest in Austria, Germany, China, Hong Kong and the Middle East. Unlike some rivals, Hyder has been operating in these countries for many years, which gives it an edge when competing for new contracts. Chief executive Tim Wade says the consultancy industry is fragmented, so Hyder could triple in size and still not be a dominant player in any of its markets. Annual results for the year to March 31 are due tomorrow and brokers expect underlying profits of about £9.7m compared with £7m in 2006. City followers are also confident about next year's figures, pencilling in estimated profits of £12.4m. Hyder is trying to improve its margins by moving into more lucrative projects, becoming involved in schemes earlier in the process and gaining critical mass. A few years ago, it was losing money. It was trading in 32 countries and results were poor in most. Now it is significantly represented in just five regions, where it can really pull its weight. The culture is dynamic and margins are running at more than 5%. Wade and his finance director, Simon Hamilton-Eddy, believe they can lift margins to 10% within four years. The change will probably involve some acquisitions, but the company raised cash last October and so is unlikely to ask investors for more soon. Midas verdict: Hyder is a well-run company with an established presence in growth areas such as China and the Middle East. Yet the shares trade at a discount to rivals because the company is still playing catch-up from its Welsh Water days. This should mean there is plenty of potential for growth in the core business and in the share price. Buy. |
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