Morgan Sindall Share Discussion Threads

[jampot7us] 11/12/2024 20:07

Closing price seems to vary depending on the platform..As a novice ..is this something to do with the auction?

[tournesol] 01/11/2024 22:34

Thanks for that RSI. Much appreciated.

[master rsi] 01/11/2024 22:06

Berenberg started coverage of Morgan Sindall on Friday with a 'buy' rating and a 4,500.0p price target.

It noted that the FTSE 250 contracting business was primarily exposed to the UK construction, infrastructure, fit-out and urban regeneration markets.

"The business operates a decentralised model and is conservatively run by a highly-regarded management team, with interests across a diverse range of contracting markets," it said.

It said that strong operational delivery in recent years has driven an "exceptionally" strong run in the shares, including a 15% increase following the recent trading update on 22 October.

Berenberg said: "As such, we think that the principal debates regarding the stock will shift to: 1) the extent to which the short-term acceleration in performance can be sustained into the medium term; 2) the moving parts within the Partnership Housing and Mixed Use Partnerships divisions, which could become the key growth drivers of the business in the next five years; and 3) the optimal allocation of capital for the group, considering its large - and growing - net-cash position."

The bank said Morgan Sindall was well positioned to meet these challenges

[master rsi] 28/10/2024 11:39

She said I am cashing some chips.....

Morgan Sindall Group PLC - Rosalind Morgan, associate of Chief Executive John Morgan, sells 28,511 shares at GBP38.38 and GBP38.90, worth GBP1.1 million, on Thursday and Friday last week.

[master rsi] 22/10/2024 21:00

HSBC hikes target price on Morgan Sindall

(Sharecast News) - Analysts at HSBC raised their target price on construction firm Morgan Sindall from 2,930.0p to 3,615.0p on Tuesday following the group's trading update.

HSBC said Morgan Sindall has long prided itself on balance sheet discipline and finds itself the net beneficiary of a competitive landscape where ISG has gone into administration, noting its strong balance sheet has become more of a competitive advantage.

The UK bank, which stood by its 'buy' rating on the stock, stated new competition will enter the market, attracted by the structural growth of fit-out, but said Morgan Sindall appears to be winning business at "a very healthy rate".

"We lift our 2024e adj. PBT forecast by c12% to reflect the current ability to win contracts. We expect this to last into 2025e and lift our 2025e adj. PBT by c8%. The 10-year +/-1sd historical 12-month forward PE range got MGNS is 8.2-11.3x. We set our target price based on a target PE multiple of 13.5x (from 12.0x), now at a premium to the historical range due the supportive plans of the UK's new government, a return to profitability nearing for Property Services, and the competitive strength in Fit Out, itself a growing market," said HSBC.

"For us, that builds further on the group's order book visibility, record of execution, and benefits demonstrated from its diversified exposures. We apply our target multiple to our revised 2025e EPS estimate of £2.72 (from £2.52), which results in a year-end fair value of 3,674.0p that we discount back at a 10% annualised required rate of return to set our TP at 3,615.0p (rounded). Our TP implies circa 11% upside."
-------------------
Closing share price 3,900p (+650p / 20.00%), well ahead of price target 3.615p

[martinmc123] 22/10/2024 10:04

4*
Morgan Sindall issued a profit upgrade this morning. Since its last Trading Update on 8th August 2024 and following material profit growth ahead of expectations from the Fit Out division, the Group now anticipates that its full year results for 2024 will be significantly ahead of its previous expectations. Fit Out's profits have continued to strengthen significantly due to exceptional volumes and is now expected to materially exceed the Group's previous expectations. Its secured order book as of 30th September 2024 was £1.3bn, up 15% from the 2023 year end position, providing confidence in the full year and beyond. This has also boosted the Group’s secured order book which was £8.9bn at 30 September 2024, up 3%...

...from WelathOracle

wealthoracle.co.uk/detailed-result-full/MGNS/896

[jampot7us] 22/10/2024 09:51

Absolutely flying!

[fegger] 22/10/2024 06:47

Wish all my shares issued similar updates : Since its last Trading Update on 8th August 2024 and following material profit growth ahead of expectations from the Fit Out division, the Group now anticipates that its full year results for 2024 will be significantly ahead of its previous expectations.

[jampot7us] 22/10/2024 06:26

Soild update.

[rabiddog] 01/10/2024 12:54

Knowing wythenshawe well reckon that 500m revamp of city centre might slip out a bit lol

[jampot7us] 01/10/2024 11:31

Flying again..

[piedro] 14/8/2024 09:23

Muse lands £500m Wythenshawe town centre revamp

[don carter] 08/8/2024 09:59

Way better than I expected, given "challenging market conditions". LTBH.

[master rsi] 08/8/2024 07:40

Morgan Sindall FY performance to be 'slightly ahead' of expectations

(Sharecast News) - Construction company Morgan Sindall said on Thursday that its full-year performance was set to be "slightly ahead" of its previous expectations after a record first-half performance.

In the half-year to 30 June, adjusted pre-tax profit rose 17% to £70.1m, with revenue up 14% to £2.2bn.

The company hailed a "significant" contribution from the fit out division, which saw operating profit rise 36% to £41.3m. Meanwhile, operating profit in the construction arm was 18% higher at £14.1m.

The order book dipped to £8.7bn from £8.9bn in the same period a year earlier, while the interim dividend was lifted 15% to 41.5p per share.

Morgan Sindall said the challenging market conditions seen in 2023 have continued to ease, with little increase in prices since the end of 2023. It said that while there remains some cost inflation in the system - mostly related to energy costs and wage inflation - the general trading environment overall remains "more manageable and predictable".

Chief executive John Morgan said: "We've delivered another record set of results in the first half, once again reflecting the high quality of our operations, with revenue, adjusted profit before tax and the interim dividend all showing strong mid to high double-digit growth in the period.

"The challenging market conditions that we experienced in 2023 are easing, as we continue to make significant strategic and operational progress across the group and remain well positioned to support the Government's affordable home and social infrastructure plans.

"Following our strong trading performance in the first half, combined with the high-quality secured order book and visibility for the rest of the year, we now expect to deliver a result for the full year which is slightly ahead of our previous expectations."

[eigthwonder] 08/8/2024 06:59

Didn't realise they were in business with a whiney environmentalist

[mattmo74] 08/8/2024 06:24

Greta set of results this morning

[piedro] 02/8/2024 07:46

Morgan Sindall wins £65m Blackpool Multiversity

[mrscruff] 31/7/2024 10:48

Thanks for the updates Piedro!

While I understand MGNS has a strong cash position that covers the capital needed for these projects, do we know the ball park of lending costs should say a competitor need to take a short term loan out?

[piedro] 26/7/2024 15:32

Interims in 10 days

[jampot7us] 26/7/2024 15:20

That's a nice days rise..update Aug 8th..seems a bit early to be connected..

[galeforce1] 26/7/2024 14:17

Any reason for the sharp rise here today?

[mrscruff] 23/7/2024 15:56

Bought a batch of shares for higher than I sold out of here in the ISA. The numbers make this look like one of the best value stocks out there that has quality growth and momentum. Holding this one in SIPP for the long run now.

[galeforce1] 10/7/2024 07:11

There's been several big new appointments at head office - new CFO and other important replacements.
These shares may be part of their compensation packages.