Intertek Share Discussion Threads

[trytotakeiteasy] 04/10/2017 23:04

How did you select NMC? That has been a good one. I obviously need to get some stock tips from you!!!! Any ones you are looking at now...

[malcolmmm] 24/8/2017 08:58

Up 50% and rising, so made £10k , am into NMC another good one

[trytotakeiteasy] 01/8/2017 09:37

MALCOLMMM - How are you feeling now??

[trytotakeiteasy] 15/5/2017 22:21

Better than a slap in the face with a wet kipper!!!

[malcolmmm] 02/5/2017 09:55

Yes ,up 26.60% plus dividend, not bad

[trytotakeiteasy] 07/3/2017 10:44

MALCOLMMM - must be feeling pretty pleased now!!!

[malcolmmm] 06/1/2017 16:59

Am up 6.39% on these, not bad

[malcolmmm] 22/12/2016 09:58

Break out here

[malcolmmm] 09/12/2016 20:24

Starting to motor

[malcolmmm] 30/11/2016 09:16

Great chart and I am in profit, more to come hopefully.
Recently recommended by Fat Prophets as a core holding

[arnu gutierrez] 25/11/2016 16:20

Potential reaction of Intertek Group (ITRK) to analysts' perspective on its stock

[malcolmmm] 25/11/2016 09:26

agree am a buyer here great stock

[holdingtight] 05/11/2015 12:03

Anyone here. Just taken a punt, they seem over sold.

[corlis] 12/4/2015 17:15

Had a good ole study & i will be buying this tomorrow..

[jeffcranbounre] 28/1/2015 18:36

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[miata] 16/5/2014 07:04

IMS and AGM.

"We continue to anticipate improvement in growth and profitability in the second half of 2014 as market conditions are expected to improve and comparatives become easier."

Cantor
Group organic growth was just 0.3% in the four month to 30 April vs. +7% this time last year. Growth at constant exchange rates was +3.6% (+3.3% contribution from acquisitions) and at actual exchange rates sales were down 4.9%. There was strong growth in the consumer goods, commercial & electrical and chemicals & pharma divisions. However the group's overall performance was affected by deferrals of some energy industry capital projects and minerals also remained weak. In addition, the decision to exit low value contracts in the Industry division also had an adverse impact (this had already been flagged). Excluding these low value contracts, sales growth would have been +1.5%. The operating margin is said to have improved slightly reflecting the positive impact of restructuring. This is in-line, however, with our modelling assumptions, +20bps increase to 15.9% in FY14E.

We are currently forecasting organic growth of 5% for FY14E, expecting this to be 2H weighted as comps start to ease (1H13A +6.3%; 2H13A +2.3%). However, the start of the year has been slightly slower than we had been anticipating with quarterly trends continuing to weaken (1Q13 +7%, 2Q13 +5.6%, 3Q13 +3%, 4Q13 +1.6%). The outlook statement highlights that management continues to anticipate improvement in growth and profitability in 2H14 as market conditions improve and comps ease. The shares are trading on a FY14E P/E of 20.9x and FY15E PE of 18.9x vs. a through the cycle average of 19x. However, we note that the discount with its two European listed peers is close to a 5 year high. Peers SGS SA (SGSN VX – NC) is on 24.7x FY14E and 22.2x FY15E and Bureau Veritas SA (BVI FP – NC) is on 23.6x and 21.2x respectively. Bureau Veritas recently reported on its 1Q14 trading figures. Group organic growth picked up from +1.6% 4Q13 to +2.7% 1Q14A. We maintain our HOLD recommendation and TP of 3,065p.


RBC
Our view: Q1 growth was a little weaker than expected, which results
in another downgrade to forecasts. Whilst we like the fundamentals of
the story and believe growth will improve into H2, valuation remains an
issue and we are less optimistic than the market on medium-term margin
progression.
Key points:
Q1 trading – The Q1 trading statement was a touch weak with organic
revenue growth of only 0.3% (vs. 1.5% expected) for the first 4 months,
with margins improved slightly. Growth has slowed further from the 1% in
Nov/Dec, impacted by contract shedding as expected, along with weakerthan-
expected activity in the energy infrastructure market and tough
trading in Minerals. The outlook is mixed, pointing to variable market
conditions, although management anticipates improvement in growth
and profitability in H2.
Forecasts reduced – We have reduced our 2014 and 2015 EPS forecasts by
3%. We now forecast organic revenue growth of 2.7% for the FY and +20bp
on the margin. This clearly implies a material pick-up in H2, although
comparatives do get easier (H113 +6.3%, H213 +2.3%). We expect the
currency impact for the FY to be -7%, slightly more than the -6% we had
previously forecast.

Medium-term growth prospects sound – We continue to believe
top-line prospects remain sound over the medium term, given that
strong structural growth drivers remain (increasing need for energy
infrastructure as middle class emerges, changing trade patterns,
continuing technology and product development, increase in domestic
consumers) and the potential for bolt-on acquisitions. The potential for
the opening up of the Chinese market over time is a further opportunity.
But we are below consensus – We are less optimistic on margins than
the market – factoring in +30bp over 2 years vs. consensus of +70bp. This
primarily reflects concerns around mix and investment costs. As a result,
our 2015 forecasts were c6% below consensus (before today).
Valuation – The stock has underperformed the market by 13% over the last
12 months, but consensus forecasts have come down by around 16% so
the stock has kept its premium rating (15E PE 20x, FCF yield 3.9%). Whilst
trading should be approaching a cyclical low point and growth should
improve from here, valuation, in our view, remains full. Our price target
nudges down to 2950p from 3000p as a result of the EPS downgrades
today.

[miata] 09/5/2014 08:43

09 May 2014 Intertek Group PLC ITRK Credit Suisse Outperform 3,010.00 2,986.00 3,200.00 3,500.00 Upgrades

[miata] 21/3/2014 18:05

Intertek was a strong performer today. Citigroup yesterday reiterated its 'buy' rating on the stock following reports the group had increased its exploration and production services in Abu Dhabi after investing in a new facility.

2014
14th October 2014: Interim dividend payable
3rd October 2014: Record date for Interim dividend
1st October 2014: Ex-dividend date for Interim dividend
4th August 2014: Half Year results announced
1st July 2014: Start of Close Period
6th June 2014: Final dividend payable
23rd May 2014: Record date for Final dividend
21st May 2014: Ex-dividend date for Final dividend
16th May 2014: AGM
16th May 2014: Interim Management Statement (IMS)

[miata] 16/1/2014 08:58

Worth analysing the seasonal January dip and February recovery on this share.

Possibly a US shareholder effect, take long-term gains in the next tax year and buyback after the wash-sale period ends.

[miata] 03/10/2013 06:46

Intertek acquires Global X-Ray & Testing Corporation (GXT). Time to exit.

[miata] 30/9/2013 12:06

XD 15p 02/10/13.

[miata] 06/8/2013 07:49

Intertek Group (LON:ITRK) was upgraded by stock analysts at RBC Capital.

Shares up 3.4% at 3190p.

[miata] 22/7/2013 08:53

22 Jul 2013 Intertek Group PLC ITRK Berenberg Buy 3,037.00 3,056.00 3,340.00 3,340.00