John Laing Share Discussion Threads

[rlivsey] 27/1/2018 13:53

Well cerillian has had a drop too. Maybe both buying/reinvesting opportunities or economic climate a problem mayb?

[jonwig] 24/1/2018 05:50

Might have had some work done by Carillion? Most companies with anything significant have already announced.

[rlivsey] 24/1/2018 02:11

Any thoughts on the big drop recently?

[capricious71] 08/1/2018 23:07

It's great to see it hit 300 again.

[yf23_1] 19/12/2017 16:29

Finally the market has awoken to JLG!

[jonwig] 13/12/2017 10:08

New Edison note. Summary:

John Laing Group’s (JLG) trading update and recent disposal of a wind farm provided year-to-date figures for investment commitments and realisations. The figures confirmed the strength of the underlying infrastructure project market and highlighted the increased level of activity within the business. We have revised our forecasts and now expect a special dividend payment of 5.3p/share (6.5% of £299m), offering a yield on the final and special payments combined, of c 3.3%. We expect further NAV growth in FY17 and beyond, and believe JLG’s rating is undemanding.

[jonwig] 08/12/2017 07:20

Pre-close update in-line, no 'warning signals':



They seem to have sold completed projects to JLIF but haven't gone into price details.

We expect the special dividend for 2017 to be based on realisations to date of £256 million, and on any other realisations which complete before 31 December 2017. In arriving at the appropriate percentage within the 5% - 10% pay-out range, the Board plans to consider all relevant factors, including funding needs for new investments

So if they mean 5-10% of gross realisations, that would mean a special dividend of 3.5-7.0p on the lowest figure of £256m. Brokers are currently forecasting a total dividend of c.10.0p for FY 2017.

[rlivsey] 07/12/2017 12:58

Well I am 10% down already. Not much growth so far!

[jonwig] 07/12/2017 07:20

Rivesy - UK PFI contracts under construction might be harder to sell on, and command a lower price.

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From Citywire:

Investors may pass over infrastructure developer John Laing (JLG) but Peel Hunt argues it is high-quality and has good growth prospects.

Analyst Andrew Shepherd-Barron retained his ‘buy’ recommendation and target price of 377p on the shares, which edged half a penny lower to 270.5p yesterday.

‘Anyone looking for a high-quality, international company with good growth prospects and sustainable competitive advantage at a reasonable valuation, need look no further,’ he said.

‘John Laing suffers from neglect, passed over by investors who want either pure-play infrastructure yield or pure-play risk equity growth. Instead it combined the best of both, at a big discount to our fair value, driven in part by political concerns that it is diversifying away from.’

Shepherd-Barron predicted annual total return of 12-13% and recommending investors ‘buy for your pension and buy for growth’.

[rlivsey] 06/12/2017 09:13

Surely speculation of nationalising contracts does cause a drop of this magnitude?!

[robbiereliable] 20/11/2017 17:33

Thanks Jon. Need to pay more attention :)

[jonwig] 16/11/2017 20:15

Labour's plans to nationalise PFI contracts. (See JLIF thread for more discussion.) Effect on JLG could be to make it harder to sell completed projects on. Applies only to UK of course, so effect not so marked as with JLIF.

[robbiereliable] 16/11/2017 20:02

Can someone tell me what's happening to JLG. Have held for so long and they've always been a good grower. Now they are dropping like a lead balloon

[jonwig] 06/11/2017 08:31

Oliver Brousse on PFI - "Not fit for purpose".

[olliemagern] 23/10/2017 14:28

Not only special divi, but also earnings and net assets will be higher than expected.
Will be a good year end December with net assets over 300p.

[felix99] 23/10/2017 09:32

JLIF - I don't hold so not bothered lol !

[jonwig] 23/10/2017 08:55

... but if you hold JLIF as well: :-(

[felix99] 23/10/2017 08:37

and it derisks UK infrastructure exposure

[jonwig] 23/10/2017 06:30

Five sales to JLIF:



The main point, I think, is that it takes total 2017 sales to £255m, against a target of £200m for the full year. This means our special dividends should be higher than expected.

[capricious71] 05/10/2017 09:59

Looking cheap at this price.

[jonwig] 01/10/2017 05:28

Times:

The co-owner of an £8bn PFI deal to build high-speed trains is considering cashing in at a huge profit — before the trains have hit the tracks.

John Laing is understood to be seeking bidders for its two stakes of 24% and 30% in the Intercity Express Programme.



"Huge" is nowhere quantified. [Can read for free if you register.]

[jonwig] 24/9/2017 08:15

Thanks Pete. Barclays also have a 340p TP, and Peel Hunt 377p.

[texaspete2] 24/9/2017 08:03

John Laing's growing pool of public-private partnerships and renewable energy investment opportunities should allow the company to grow 12% a year through to 2019, said HSBC as it restarted coverage of the stock with a 'buy' recommendation.HSBC said Laing's investments opportunities are in low risk territories in Europe, North America and Australasia, "where there is political support for PPP and a rising weight of secondary investment funds that exceeds the flow of finished projects".Opportunities in these territories are expected to structurally rise in both PPP and renewables, which the group can access through the network of offices, most recently expanded in the US."We see PPP investment as the most expedient means of realising infrastructure demand," while HSBC's climate change strategist, Ashim Paun, has set out expectations for the renewable energy provision to increase by multiples of up to 3.3 times current levels by 2030 in the group's key markets.Analyst set a 340p share price target that projects a rise to a 20% premium to net asset value to reflect the growth prospects in both investment pools and the group's advantageous position and track record for realising surpluses.

[robbiereliable] 22/9/2017 15:16

Have faith Huntie.