We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Customisable watchlists with full streaming quotes from leading exchanges, such as LSE, NASDAQ, NYSE, AMEX, Bovespa, BIT and more.
| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Lavendon Group | LVD | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 269.50 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 269.50 | 269.50 |
| Top Posts |
|---|
Posted at 12/1/2017 09:05 by sell it high On January 14th last year LVD released their full year results. I'm not sure what the Takeover Panels rules are for releasing results in an offer period but I guess it would make sense for Loxam to wait for results before submitting a new bid. |
Posted at 19/12/2016 08:26 by snowydays bedlam, yes.I think it's worth holding on. Even if TVH are not seriously going to make a higher offer, remember that they own nearly 25M shares in LVD. They are sitting on a nice profit of about £10m at the moment, but they will want to squeeze as much as possible out of Loxam. Another 20p would be worth £5m to them. I think we will see another offer from TVH, even if it is just a bluff. |
Posted at 15/12/2016 06:32 by qs99 Dr S, yes been a bit lucky! PEL is a bit of a spread, but when it has doubled it becomes less of a problem!Trying to work out next plays as am now about 35% cash after bids for LVD and AVS.....will advise! Merry CHristmas |
Posted at 14/12/2016 09:27 by dr_smith QS99 - We share double whammy today - I too have IQE.LVD: Yes..a strange bid in that it half invites a counter bid. My guess is the time frame is not of Loxams choosing so they had to go sooner with finance available than delay until enough backing to knockout TVH with higher bid. I have to respond to my broker account by tomorrow to accept TVH takeover or "take no action (default)". This is likely lapsed now, but to be sure, I have responded on the "no action". I will hold and await developments...again |
Posted at 12/12/2016 10:35 by alter ego Some of us are not inclined to join in the speculation but I have held LVD for 15 years or more and felt from the off that 205p was an opportunistic bid taking advantage of the market's undervaluation. I assume Loxam are serious or LVD would not still be talking. Don't intend to take any action until the result of those discussions is clear. |
Posted at 28/11/2016 11:18 by qs99 Hey Dr Smith who pulled your chain? not sure what you man by monopoly money or gambling....I Have been in LVD for quite a while now (as you will see) and also again Friday as it looked odd on the bid above the t/o price, I was proved right, what was my downside 1-2p or t/o not going through, I thought the risk was worth taking.....usually the city hears something before PIs do and in this instance that move above the bid looked like a signal....anyway, well done on getting the returns here....brokers reckoned fair value was nearer £2.36 I believe / DYOR etc, so if we do have a bidding war, I sense there may be another 5-10% in the share price from here....let's see...risk is that counter bidders see it as too rich and walk away, again what is the scarcity value for LVD? |
Posted at 24/11/2016 11:50 by jeffian You seem rather a nervous holder, Dr_Smith. If you don't see this as a long-term hold or income play, you need to take the money and run, don't you?The permutations are - * the existing deal is there to be done at 205p. They have already done due diligence and the proposal to proceed via Scheme of Arrangement makes for a straightforward transaction, so low risk of execution. * the fact that the share price is hovering close to, but below, the bid price suggests the market thinks it is still "on" but that a higher competing offer is unlikely. * It also means that there remains the possibility that those institutions who have not been tempted by a bid at 205p may accept an improved offer, but the market is not expecting any improvement by the existing bidder to be more than marginal. Thus, for anyone looking at this purely short-term, there appears to be little upside on the current share price and a likely pull-back if the bid fails. The unknown remains the possibility of a counter-bid, but the market is not expecting one. Long-termers may view the current situation as confirmation of their belief that LVD was undervalued (and maybe still is at the bid price) and be happy to hold on, receiving the dividend while management continue to grow value, although I suppose another long-term strategy might be to sell now, which gives close to the bid price anyway, and buy back in if the bid fails! The Hamilton/Rosberg thing is easier. Rosberg has to suffer engine failure or crash. Come on, Verstappen! |
Posted at 26/8/2016 12:52 by rivaldo "Power profitsLavendon Group (LSE: LVD) shares have been in a bad patch, losing nearly half their value since March 2014. But they've been creeping back in anticipation of today's interims from the supplier of powered access equipment, and are up a very nice 8.5% to 136p on the day. We saw double-digit rises in underlying figures across the board, with revenue up 13%, pre-tax profit up 10%, earnings per share up 12%, and the halfway dividend got an 18% boost. It was nice, for a change, to see a company report not warning about post-referendum uncertainty -- Lavendon does get some of its business from EU countries, but around half comes from the UK and it's big in Africa and the Middle East. A rise in net debt to £149.7m (from £119.9m) does concern me, though the company says that reflects its investment programme over the half. Still, such a high level compared to annual revenue does take a bit of the shine off an otherwise very low forward P/E of 7.3 this year, rising a little to 7.5 for 2017. But on the plus side, in addition to that lowly P/E, we're seeing 4.3% and 4.5% dividend yields forecast for this year and next, which would be more than three times covered by earnings. Lavendon is also a strongly cash-generative business, which is a good indicator that it should be able to handle its debt level. I'm inclined toward bullishness on Lavendon, and I can see the shares continuing their recovery over the next couple of years." |
Posted at 26/8/2016 10:14 by bend1pa "Dividend yield is almost 5%, 3-times covered.It has a strong balance sheet" 'Fraid not. The div isn't actually covered at all. As usual the cashflow sheet tells the real story with companies too eager to trumpet flattering headline figures on the back of a poorly performing share price LVD lost money. "Met cash from operations" -£5158, as was the case in 2015 (FY -£21,000). So, no money to pay a div. That is being paid by borrowing. And the balance sheet isn't strong either. It's becoming more stretched - gross gearing 48.9%. So as LVD has not been making money in the last 2 years, when will they do so, how do they intend to pay off their loans, or will they rely on rollover credit arrangements until debt climbs to an unsustainable level or the business suffers a downturn and their bank gets twitchy. Expect a big rights issue if that occurs. |
Posted at 26/8/2016 09:16 by bpc10 Write up from Paul Scott today on the results:There's only one share that interests me this morning, Lavendon (LON:LVD) , so let's crack no with that. Lavendon (LON:LVD) Share price: 134p (up 7.2% today) No. shares: 169.9m Market cap: £227.7m (at the time of writing, I hold a long position in this share) Interim results, 6m to 30 Jun 2016 - this is an equipment hire group, operating in UK, Europe & M.East. Its niche is powered aerial access equipment - the website is quite interesting, showing all the different types of product which Lavendon hires out. It claims to be the market leader. What interests me is that the valuation seems compelling, compared with other hire companies; Forward PER is only about 6.5 Dividend yield is almost 5%, 3-times covered. It has a strong balance sheet. Equipment hire companies are often on a rating of about 2x NTAV. In this case, the latest NAV figure announced today is £237.9m. Deduct goodwill & other intangibles of £51.7m, arrives at £186.2m NTAV. So 2x NTAV (a fair rating, in my opinion), would give a valuation of £372.4m, or 219p per share - which is my reckoning of where the shares probably should be now. That's a very attractive 63% potential upside, if I'm right about this. Consistently meeting market expectations, yet share price has fallen considerably - this doesn't make sense to me. The market is clearly expecting a big downturn in earnings, but there doesn't appear to be any evidence at all to suggest that is happening, or likely to happen. Looking at today's interim results, the only surprise is a big increase in the dividend - up 18% - so clearly management are confident. Forecasts - Peel Hunt is forecasting 18.7p for 2016, and 19.4p for 2017. However, there is possible upside on these figures, because they have not factored in favourable forex movements. Over half of revenue, profit & cashflows are generated outside the UK. Outlook - there is more detail given, but the key part says; Trading since the half year has continued to be in line with our expectations and, whilst mindful of the recent increased economic uncertainty, the Board remains confident of making further progress in the second half and delivering on its expectations for 2016. That sounds reassuring. I wouldn't be surprised if they deliver full year results ahead of forecast, given the forex tailwind. So why the market is only rating this on a PER of about 6.5, is a mystery to me. Balance sheet - net debt has risen to £148.9m, due to fleet expansion, and forex movements which increase overseas debt when translated into sterling. This really isn't a problem though, and in my opinion the debt is perfectly reasonable when compared with EBITDA and the book value of the hire fleet. When interest rates are this low, it makes sense for equipment hire companies to borrow cheaply, and generate a much higher return from the equipment. The ROCE here is 12.2%, which has gone down a bit, but looks pretty good to me compared with dirt cheap bank debt. I suppose the danger is that such low interest rates may cause hire companies to over-invest, resulting in over-supply of hire equipment, and eventually a plunge in profits when the next recession coincides with over-supply. On a more general level, interest rates being too low, for too long, is likely to lead to all sorts of capital misallocations, with pretty bad consequences eventually. In the meantime however, we can make hay whilst the sun shines. My opinion - to my mind, this stock is just the wrong price. The market seems to be anticipating downturns in Lavendon's main markets, which are just not happening. Bear in mind that Saudi Arabia is a particularly profitable market for Lavendon, but other M.Eastern countries seem to be doing well too, and compensating for some margin reduction there. I'm not madly keen on general hire companies. It's the niche ones which are interesting, such as this. With such attractive valuation metrics, and more positive results/outlook today, I'm feeling very bullish on this stock, and will probably be adding to my position further over the coming weeks. There again, I'm fairly bullish on the economic outlook. If you're bearish on the economic outlook, then hire companies are the last sector you want to be in - as they're very cyclical. Just look at how profits collapsed at HSS Hire (LON:HSS) and Speedy Hire (LON:SDY) recently, although their problems seem to be more about poor management. The trouble is that when revenues do fall, there's an operationally geared impact due to huge, fixed depreciation charges. So i'm not in any way glossing over the risks in this sector. However, in my view the lowly valuation at LVD seems excessively pessimistic, hence why I'm bullish on this share. I see good upside, and lovely big divis to collect in whilst I wait. Ideal really. |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Hot Features
Premium
