Interserve Share Discussion Threads

[dandanactionman] 10/8/2017 18:30

All the following is IMHO dyorAnother huge volume day.Will 200p hold? If not I think there could be another sharp decline.

[edmundshaw] 10/8/2017 16:19

Agree they were clueless about energy from waste. But the rest of their businesses have been run very well, apart from some construction (though that is the case almost across the board).

Anyway, PE now looks around 4. Though adjusting for the balance sheet makes that a bit less rosy, it still looks far too cheap to me risk/reward wise.

[salpara111] 10/8/2017 15:49

The first thing the new CEO will do is "kitchen sink" everything she can and possibly go for a rights issue.
Look at what has happened at Carillion.
I say that as someone who once made a packet out of IRV buying it back in the day when it was less than 200 and selling out in tranches between £4 and £6.
There is simply far too much uncertainty here at present to make an investment case.
I still struggle to get my head around the Waste to Energy contracts....they clearly had no clue about the potential liabilities they were taking on and in doing so have lost all credibility with me.

[cerrito] 10/8/2017 14:18

I would not expect an equity raise till November at the earliest unless there was unexpected bad news.
Perfectly possible then that with the CEO having her feet under the table and perhaps with a new CFO she will have come to some sort of decision as to the way she wants to go and can get institutional support and her hand may be forced if they are rubbing too close to the covenant limit.

[edmundshaw] 10/8/2017 11:32

Why deep discount? A small rights issue might be useful, but should not be a big issue provided the energy-for-waste is tidied up and other divisions are firing.

[bench2] 10/8/2017 10:53

Wait for the deep discount rights issue

[dandanactionman] 09/8/2017 17:05

All the following imho dyorHigh volume traded on results dayInteresting initial reaction and then partial recoveryWhat do people make of debt and banking covenants?

[edmundshaw] 09/8/2017 15:41

The market taking its time, but on an underlying forward PE of less than 5, this is certainly going to be high on the recovery/bargain share lists.

Roll on a return to paying a dividend...

[dandanactionman] 09/8/2017 09:26

Slides from interserve website

[buywell3] 09/8/2017 09:26

buywell321 Jul '17 - 12:34 - 4121 of 4132 0 0 Edit
I see some names I have seen B4 but this post is for only one of you so others look away





















CHARTS ............................... You must learn about them if you want to succeed at investing





This suggests sub 200p is likely .......................... again ......................... like before ...................... twice

So anyone still holding from 700p is a mug punter

This company needs a check up from the neck up

If the CEO and BOD are still there from 700p days then forget it

[wallywoo] 09/8/2017 08:59

I guess IRV are getting hit mainly because of the slightly higher net debt expectation (from £450M av to £475-£500M av). Other than that business seems to be ticking along nicely.

Think this is great value at these prices, but until the dividend is kicked off again, the share price will be under pressure. Do not see this going the way of a rights issue.

[csmwssk12hu] 09/8/2017 08:43

These are looking very interesting at these levels, with circa 80,000 jobs at risk experience tells me the government will ensure the e4w debacle is over without any further cost here and when that announcement is out these will possibly double or even treble, just my own personal opinion dyor

[dandanactionman] 09/8/2017 08:41

All the following is imho / dyor this is probably a higher risk companyI have picked up from results @ Margin in support services @ Continued challenges in construction and underperformance small number of contracts resulting in loss @ net debt figure @ construction appears to talk of reduced future workload "more modest revenue" @ Waste substantially exited H1 2018 @ interesting comments on insurance in regards to the Waste. I assume that the figure quoted take into account expected insurance claims and thus the comments on timing could effect these? @ Equipment services seem to be having a good time

[dandanactionman] 09/8/2017 08:36

Is there any results conference published / broadcast by this company?

[edmundshaw] 09/8/2017 08:17

No comments about improvements in construction division even though elsewhere construction has improved?

That said, no further bad news, which as the saying goes, is good news.

[chrisgail] 09/8/2017 08:00

Very much as expected. No 'clear out' of bad news beofre new people arrive, hopefully that means all bad news is out so we can move forward.

[wallywoo] 07/8/2017 12:55

I don't think so bench. Look at the clues:

1) this has next to no short interest
2) debt has been managed very carefully, although taken a hit on waste contracts it should be in recovery now.
3) Share price has shown no signs of dropping and resistance levels have stood up well.

Time will tell

[bench2] 07/8/2017 11:30

New CEO's have a habit of kitchen sinking , then fixing their option price . Given the debt overhang , it looks ripe for a deep discount rights issue similar to Laird and Cobham , then time to take a small stake and watch the chart .

[the juggler] 06/8/2017 13:52

New CEO takes up post in three and a half weeks time. New regime. Hopefully the share price will take a turn for the better once she has routed out the bad news and the top-heavy management elite.

[wallywoo] 06/8/2017 12:35

Half year results on Wednesday. Should be an interesting week here

[buywell3] 21/7/2017 12:34

I see some names I have seen B4 but this post is for only one of you so others look away





















CHARTS ............................... You must learn about them if you want to succeed at investing





This suggests sub 200p is likely .......................... again ......................... like before ...................... twice

So anyone still holding from 700p is a mug punter

This company needs a check up from the neck up

If the CEO and BOD are still there from 700p days then forget it

[warranty] 18/7/2017 19:10

We need some update on the E4W situation before this goes anywhere. Too much risk at the moment until that position is clearer and the costs more identified.

[rhatton] 18/7/2017 18:56

£10 mil win / extension for military tattoo