ISG Share Discussion Threads

[paduardo] 10/11/2015 14:15

any thoughts on why the drop today?

[mickharkins1] 10/11/2015 12:12

Worth checking out the latest results presentation on ISG's website:



There is an interesting slide on operating margin which shows that, excluding UK construction, average margins in the remaining businesses increased from 1.6% in H1 to 2.9% in H2.

By my calculations, applying the H2 margins to the forecast higher revenue in 2016, and assuming that UK construction breaks even this year, EPS will be closer to 40p.

In H2 they actually did 25p EPS although it seems around 1/3rd was due to one-off non-recurring gains and cost reversals.

In short, I am very hopeful that they will come in way ahead of the 27p forecast from Numis. We should get an indication early next month at the AGM as they normally provide a trading update.

[aishah] 10/11/2015 09:21

Added. Numis forecast eps of 27.3p in the current year and 32.6p next year. Low PEG and P/E. Will add more on weakness.

[mickharkins1] 22/10/2015 15:58

edmund - sorry, you are quite correct and the drop is due to the XD.

CWA1 - keep your knickers on, it was an honest mistake.

[mr dexy] 22/10/2015 12:47

Dividend

The Board is proposing to pay a final dividend of 5.00p (2014: 4.91p). No interim payment was made (2014: 4.54p). The ex-dividend date will be 22 October 2015 and the dividend will be payable on 8 December 2015 to shareholders on the register on 23 October 2015. A scrip alternative is again being offered. The final dividend for the previous financial year of 4.91p was paid on 9 December 2014.

[cwa1] 22/10/2015 12:12

Incorrect mickharkins1. Probably best you don't make comments like that unless you are fully cognisant with the facts.

[mickharkins1] 22/10/2015 12:05

edmund - XD is effectively tomorrow I believe, i.e., if you hold by close tonight you will receive the divi.

[edmundshaw] 22/10/2015 11:29

Drop from 332p bid is pretty much the dividend, XD today as per spatula.

[spatula spatula] 21/10/2015 09:13

The Board is proposing to pay a final dividend of 5.00p
The ex-dividend date will be 22 October 2015

[qs99] 12/10/2015 19:32

looks like confirmed breakout then IMO today! happy days,

[tromso1] 08/10/2015 15:19

Breaking out here.

[qs99] 07/10/2015 13:58

Nice to see a decent contract being announced....and nice bounce in share price ..

[qs99] 15/9/2015 15:04

nice reversal IMO....further to run IMO and have tucked more away...gla

[mickharkins1] 15/9/2015 00:21

paleje - agree that if they meet forecasts of 28p EPS we currently look cheap.

My expectation is that they will do much more than 28p this year and will be closer to 40p. They did 20p EPS in the second half of last year and with rising revenues this year and better margin control, 40p is easily achievable, IMO.

[mike740] 14/9/2015 19:51

Yep lovely move up today,surprised this thread is so quite. Been in since those results. Looks like a stonking 2nd half and a re rating.

[mickharkins1] 14/9/2015 10:11

Moving up nicely and I expect much more in the coming weeks once the recent results are fully digested by the market.

I have been advised by the company that they are still awaiting an updated brokers note, which when published should help make the investment case.

[oregano] 10/9/2015 13:21

hmmmm. not the squeeze I was hoping for!

[oregano] 10/9/2015 07:52

yup, big volumes on the 8th, 4.6m. they have clearly shifted the seller on the back of the management roadshow. with 50% of shares held by 6 institutions this could squeeze nicely.

[mickharkins1] 10/9/2015 07:52

Just bought a couple of chunks today. Looks extremely cheap, assuming no more nasties are hidden in the closet!

In H2 last year they did 20p EPS so the 28p targeted for this year looks easily achievable given (a) higher revenues based on the order book, (b) increasing margin trend and (c) my expectation that management will now be much more on the ball and focused to ensure no repeat of the contract issues that surfaced in H1 this year.

I expect they will be closer to 40p for this year which should ensure a significant rerating in the coming months...although I'm maybe being too optimistic as there have been a few let downs over the years!

[alchemy30] 10/9/2015 07:40

mm's seem to have moved the line of stock they had for the last two days, now moving the share price on small volume, see if that holds . . .