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Share Name Share Symbol Market Type Share ISIN Share Description
Kier Group LSE:KIE London Ordinary Share GB0004915632 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +4.50p +0.85% 532.00p 469,083 16:35:03
Bid Price Offer Price High Price Low Price Open Price
533.50p 535.00p 540.00p 519.50p 522.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 4,239.60 106.20 89.80 5.9 1,205.9

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Date Time Title Posts
23/1/201916:30Kier Group 2005 - The Building Business1,708
22/1/201912:01*** Kier Group ***46
09/12/201319:14KIE - Undervalued?110
14/8/200612:04Kier Group Shorting Thread55
05/1/200509:02KIER GROUP outstanding growth company72

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Kier Group Daily Update: Kier Group is listed in the Construction & Materials sector of the London Stock Exchange with ticker KIE. The last closing price for Kier Group was 527.50p.
Kier Group has a 4 week average price of 378p and a 12 week average price of 335p.
The 1 year high share price is 1,151p while the 1 year low share price is currently 335p.
There are currently 226,674,938 shares in issue and the average daily traded volume is 588,178 shares. The market capitalisation of Kier Group is £1,205,910,670.16.
kingston78: There are winners at the worst of times. Conversely, there are losers at the best of times. It all depends on the price of entry and exit. Normally, the only winners are market makers, as they try to keep a tight book and make a turn on the spread of every trade. The good times are over in my opinion. Another recession is coming. Boom and bust cycles have shortened from 40 years to 25 years, then to 10 years. The last recession commenced with the collapse of Lehman Brothers in 2008. Politics, trade wars, protectionism, migration, climate change and constant wars in some parts of the world make the situation worse. Causes have effects, and effects spread very quickly. I am afraid that most things are negative at present. It is only my personal opinion. I suspect that worldwide recession will start with China. As the Chinese have become wealthier, surveys indicate that 1/3 of the world's most expensive luxury goods will be consumed by the Chinese by 2030. I think China's economy is in big trouble despite its apparent wealth. Too much money is still tied up in State Owned enterprises, not private companies. There is too much debt, fuelled by the consumer boom. When the music stops it will have adverse consequences throughout the world, as it is now the second largest economy in the world (if not the first already according to some observers). It takes a long time to build up a business or wealth. Once it has passed its peak it will be downhill all the way. When a share price drops on bad news it plummets to new depths that people could not initially envisage or believe. You may say it is hindsight, but history always repeats itself. You only need to look at a few share charts to realise that what I have said is true, for example, Capita has dropped from £12 to about £1 within three years (even with a £700 rights issue beefing up its balance sheet). The share chart of Kier also tells its own story. One of the tried and tested investment rules is that one should average up, not average down. There is more chance to make money when confidence is high and more investors are buying. You can find an exit point more easily and make some money. Conversely when averaging down in a falling market, the share price will continue to fall until positive events influence its direction to move upwards. It would be sensible to wait for a while before considering buying in a falling market. I have noted certain posters on this board are very emotional about their investments in Kier and will top up their shareholdings no matter what. One cannot fight the market. The trend is your friend. Always go with the flow.
kingston78: Looking at some recent news articles Peel Hunt was trimming profit estimates but recommended that Kier's then share price was undervalued in September 2018. How wrong they were. Imagine investors got sucked in at that time at a much higher share price! Peel Hunt, together with other underwriters of the rights issue, announced at lunch time today that they were going to sell 28,101,162 shares in the range of 360 - 375 p using a book builder process. They have eventually sold these shares today at 360 p. It shows how reluctant the market was in investing in Kier. As the rights issue price was 409 p and they sold them at 360 p they have lost 49 p a share as the underwriters, amounting to approximately £13.8 million before expenses. This must be one of the worst rights issues assignments ever undertaken by stockbrokers and investment bankers. They have not gained anything despite earning fees, which have now been negated by the loss described above. Their reputation is tarnished to some extent. The directors of Kier recommended a final divided of 46 p a share in late September and the dividend was paid on 3rd December. If my memory serves me right the final dividend was payable on 93 million shares in circulation, costing the company about £43 million. All this was amid the rights issue exercise asking investors to support the company. There is no logic to the directors' action paying the dividend because the company could not afford it. This is as much as a political bribe.
kingston78: GE of the USA was once the largest listed company. An employee had invested all his savings in buying shares in GE. Fortunes came and went, and after 30 years GE's share price was the same. That employee had effectively lost a lot of money through inflation. That was a real life story that I heard some years ago. It is no good being too stubborn. Faith does not always pay off. It is true that sometimes it pays off handsomely. Each to their own. We all recognise that there is a business, but at what cost. If you read statements by the directors in the last two years' annual reports they had painted a rosy picture. including the latest annual report posted in September 2018, citing many positive factors. Those statements are contrary to some of the things that they say in the Rights Issue document, in particular, credit insurers tightening credit on suppliers. This is nothing new. Credit insurers have tightened credit in many industries for a couple of years now. That is one reason causing cash flow problems. Banks and lenders have been and are doing the same. Going cap in hand to shareholders (or lenders for a loan to equity swap like Interserve) will always end up poorly. The reputation is gone. If this is not mismanagement, what is? You will find Kier's share price back in 2002 at this level. Chart wise, once a support level has broken it will become a resistance level. It will take a long time or some encouraging results to change investors' perception.
kingston78: Fundamentals aside we should look at share charts. Capita has had a £700 rights issue. That is a massive amount to repair the balance sheet (consisting huge amount of intangibles. However,I don't think that the £700 million was enough. Capita was hoping to use the rights issue proceeds and forecast cash flow to pay down its debts, aided by suspension of dividend. Its share price climbed up to 200 p for a while after very heavy falls, but is now languishing at 107 p. Kier's share chart does not look promising either. It is now in uncharted negative territory. The underwriters will be nursing a paper loss for any rights not taken up. They will offload their shares at the first opportunity just to break even. My chart experience tells me that it will take a long time for Kier to climb back to the 500 p level, if it ever does.
pejaten: Why should banks shore up share price? Rights is fully underwritten. If anyone wanted to artificially hold up the share price it would be the underwriters ....
brexitplus: From Building “Contractor217;s stock fell 10% yesterday, following last Friday’s slump Kier’s shares have lost around 40% of their value since the contractor’s shock rights issue announcement last Friday. The £264m deal was announced late on Friday afternoon, prompting shares in the indebted group to plunge by a third from 752p to close at 505p. And yesterday Kier’s stock fell still further, down 10% to close last night at 455p. The group’s chief executive Haydn Mursell (pictured) told Building last week that he expected the shares to right themselves once the new stock began trading just before Christmas. The share price fall was a “mathematical adjustment”, he said and once the dust had settled added that he expected trading to between 550p and 615p. Kevin Cammack, an analyst with Cenkos, said Kier had “bitten the bullet” over its debt situation. He added: “People either didn’t believe it could get the debt down with things like the Future Proofing project [the cost-cutting initiative announced over the summer] or were impatient with the pace of it. It just wasn’t aggressive enough in terms of both scale and timing. “At a stroke [the rights issue] probably gets a balance sheet composition that is deemed satisfactory for all stakeholders, although obviously that comes at a hefty price for ordinary shareholders, both in capital and income terms.” Kier is set to slash this year’s payout to shareholders, possibly from 69p to no more than 25p a share as a result of the rights issue.”
minerve: EdmondJ Good post. Yes, the deep discount should not be ignored. Fear in the stock market, the credit markets, the supply chains and an unsettled government will result in some real affects on the business. This 'debt shadow' that Kier refers to has allowed fear to impact real business. The shorters have played on this opportunity and assisted the fall in the share price so much that the rights issue price has to be part function of shorting IMO. This is where Graham logic comes in. In otherwords the unjustified market decline is embedded in the rights issue price. With capital raised the debt shadow should clear which should remove/reduce real impact on the business. I'm sure the shorters will still be clutching at straws. Of course there is still a risk here but this is no Carillion. Infact Carillion's demise is Kier's gain. Kier has stated it is still on target to meet year-end performance. The number of contracts it has significantly dwarfs what Carillion had. The order pipeline is strong and a large percentage of revenue for 2019 is already in place. I wouldn't place the family silver in Kier but at these forward PEs it presents a good opportunity to the value investor IMO. I plan to take up my full-rights but after that Kier will represent c3% of my portfolio.
fitton: Shorting is the skurge of the market.Under normal market conditions, if someone likes a company they buy shares, if you already own shares in a company you can sell them.Hedge funds with big pockets sell shares they don't own at a fraction of the cost of owning them.More often than not its the private investor that get shafted because the Hegde funds keep selling into the market and in the absence of lots of buyers taking up the slack the share price is forced down.It's only when the company releases very good news and buyers flood into the market,then the situation can reversed.There is not a single sensible arguement that can be used if private investors are involved. What should happen is, once a company such as Kier starts to be attacked by the shorters, then private individuals should be stopped from buying shares in that company.The fsa should be sued for allowing investors into situations like Kier.They go on about rules and regulations, making sure finance companies are regulated, then they allow private investors, many not really understaning how shorting works, to buy into the same companies that hedge funds are involved in.Absolutley crazy
fitton: Kier are not another Carrillion.They are a very good company but the margins they are working on are so small.The problem here is fairly simple, they have £400m in debt that is going to be very difficult to reduce due to the very low margins.Unless they find a way of improving margins, which is very difficult due to competition, the share price will continue to come under pressure from the shorters.Its a very difficult one in this instance.Reducing debt is the answer but how do they do it, no easy.Its another case of the destruction in the value of a very good company by a few hedge funds.
eriktherock: This is an information exchange so > eriktherock - 24 Jul 2018 - 06:08:50 - 919 of 945 Kier Group 2005 - The Building Business - KIE mark, the turning point was at the end of march last year and Kier have been in a downward trend since. There is support (yes, historic) around 920 which is clearly evidenced from the Weekly chart. If an Hourly candle is formed below this level(921) then there is sound technical reasons, based on past share price values, to indicate the levels referred to above e g 732p. There are no technical reasons to support the targets you mention.
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