Share Name Share Symbol Market Type Share ISIN Share Description
Interserve LSE:IRV London Ordinary Share GB0001528156 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -3.50p -3.54% 95.50p 95.00p 95.50p 112.1149p 89.50p 99.25p 6,977,681 16:35:14
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 3,685.2 -94.1 -71.2 - 137.93

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Date Time Title Posts
17/10/201723:29Interserve - Awaiting A Recovery5,329
04/8/201609:30Interserve with Charts & News287
01/6/200915:12Interserve - Moves up on further consideration of good trading statement129
28/7/200812:06IPSL just another contractor?6

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Interserve Daily Update: Interserve is listed in the Support Services sector of the London Stock Exchange with ticker IRV. The last closing price for Interserve was 99p.
Interserve has a 4 week average price of 89.50p and a 12 week average price of 67.25p.
The 1 year high share price is 385.50p while the 1 year low share price is currently 67.25p.
There are currently 144,424,260 shares in issue and the average daily traded volume is 1,497,695 shares. The market capitalisation of Interserve is £137,925,168.30.
rhatton: The thing is we literally have no idea what is about to be released. Trading update was meant to be next month, but were most probably going to get that brought forward to sometime this week as per the last rns. Now as reports have stated, lenders have asked EY to audit IRV after the big share price falls in September post the RNS. So we’re gonna get a trading update detailing exactly how much trading has deterioted over the summer plus the increased overruns on the waste program. Numis and Liberum had roughly agreed on an increase from £160mil - £190mil and cut their profit targets by 24% for the next 2 years. So is it gonna be worse than that or better? Who knows until the update.
fenners66: LOL just got back to read that comment hootza cfc - I dont second guess daily share prices - they can go down on great results they can rise on bad news and minute by minute they are dependent upon supply and demand regardless of fundamentals. However I try and research where I think the company is going. Is there visibility of earnings , do the accounts read correctly, is their tone one of explaining away every years failings as exceptionals, is their market under threat , can I trust the management all that sort of stuff. After that I look at the chart and try my best..... Earlier this year I read a set of results before 8.00am and the share price had barely moved by 8.05 so I bought . sold a couple of months later for about 65% gain. But it was the results info that swung it. Today's news did not look good - even if some thought it "normal".
fenners66: cfc1 "nothing abnormal about taking to lenders - why that needs an RNS is what I don't get." So do we take it from the share price action since that you were absolutely right - you just don't get it.
fenners66: eodfire - when you look at the posters attracted to CLLN PFG and here after drastic share price falls those boards become overpopulated with gamblers - some are saying about as much. The issue for me is I was either previously invested in or looking at investing in all 3, so looking in for reasonable research. After the profit warnings a lot of what we get is "these are gonna fly , too cheap " etc. We know why. Its because they buy into companies they know next to nothing about , with no research and hoping for a bounce , dead cat or genuinely mis-priced. Its their gamble and no amount of news , research or thought out reasoning with numbers is ever going to change the gamble - so all reason is disregarded. Its red or black for some. However there are some genuine investors reading these boards as well and they may well listen and contribute to the debate.
losses: We are more positive that it will go up eventually. Usually the share price is ahead of the news... so when the mess is being sorted the share price will rise.I'm with cfc above...I'm trading chunks on the way aswell but keeping a load for the major recovery.
jeffian: It's all about capping the exposure to the energy from waste debacle. How can anyone have any confidence in the figures when IRV's statements have moved from "Our involvement in the delivery of these contracts is substantially complete" in November 2015 through "the Board anticipates a £70m exceptional contract provision" in May 2016, "Our assessment of the aggregate impact of exiting this sector is in line with the £70 million exceptional charge we announced in May" in August 2016, "Progress on contracts within our exited Energy from Waste business is in line with previous guidance" in November 2016, "the Board has concluded that the exceptional provision of £70m announced in May 2016 is no longer adequate to reflect the incurred and anticipated losses associated with this business. Consequently the Board has determined that it is appropriate to increase the exceptional provision for exiting this market and the associated contracts to £160m" in February 2017, and now "the Board now believes that the outturn for the year will be significantly below its previous expectations. Further progress continues to be made on contracts within our exited Energy from Waste business. However, the anticipated timing and complexities of completion mean that the Board now considers it likely that the final costs will significantly exceed the £160m currently provided." They might as well say 'we haven't got a clue'. Until you know the impact on profits, the balance sheet and funding, what would drive the share price?
cfc1: with big orders booked too and a share price that is dirt cheap!
htrocka2: Why did I get this on my 'Money AM' screen this morning? Interserve Share Price (IRV) 148.75 +36.25 (+32.22%) delayed: 7:45AM BST
dandanactionman: All the following imho dyorWhat are people's view on banking covenants? Poor trading and greater efw losses would seem to put this is doubt.I see 3 scenarios all of this is finger in the wind do your own research.1. Bank covenants breached and no rights issue share prices 0 to 10p2. Bank covenants breached and rights issue (highly dilutive at this level) share price around 20 to 40p3. No bank covenants breach and no need rights issue, shares recover to around 100p
walbrock82: Is Interserve cheap? One valuation measure to use is linking Interserve’s share price with their fundamentals and is called Earnings Power Value (devised by Bruce Greenwald and refine by Phil Oakley). The Earnings Power Value per share (EPV per share) has been rising steadily with minor falls during the financial crisis. In 2016, Interserve EPV per share came to £6.14, while the average share price last year was £3.80. (see My EPV per share forecast for 2017 (using data from their interim results) shows the fundamental value has collapsed to £3.95. Hence, why Interserve’s share price has collapsed. Another measure Using a Warren Buffett’s equation on valuation, this is P/B*P/E < 22.5 signals fair value. For Interserve, it is super undervalued. (see My forecast for 2017, using the following assumptions: headline earnings would fall to £75m, shareholders’ equity of £310m and using market capitalisation of £295.77m. That would make Interserve cheaper than during the financial crisis. However, you might say equity value is too high because of too much goodwill and an unexpectedly big increase in liabilities. Headline earnings may fall more than expected! But, more that is keeping shareholders of Interserve awake is the level of debt and the possibility of needing a Rights issue. For more analysis, you can click here: Thanks.
Interserve share price data is direct from the London Stock Exchange
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