"the time to buy is when there's blood in the streets." |
Not necessarily linked to the results.
Outlook is terrible: Gov spending cuts, recession, Trump, sector out of favour, Trump, I could go on.
Oh, and Trump of course. |
Does anyone have any ideas on why the share price has fallen so much since the results were announced? |
It might be interesting to see how the fall out over Trump's (mis)handling of the Ukraine sitution and Musk cutting back of US public services across the board will impact investment markets worldwide. Americans love of stock markets might come under pressure.
Normal "cycles" in a destabilised world? Who knows? |
another big drop today. cross-over from taylor wimpey perhaps? main index is flat. baffling shareprice performance. wfc, exactly how much greater was the market expecting? seems odd given we appear to be at the beginning of the construction cycle. |
Yes they only missed forecast estimates by 0.5%. Good results. Sold on news. Seems cheap and I am in today having sold out 4 months ago. |
Greater expectations not met? |
great results, dividend increased by a sixth - shareprice goes down. how come?
main index is up. shares are 10% off the peak. what's the excuse for the price to come down? |
Nice to see a company that doesn't had the need for buy backs (yet) to improve their EPS. |
 3,490p (-45p / -1.27%) Morgan Sindall hails record full-year performance
(Sharecast News) - Construction and regeneration group Morgan Sindall reported a record full-year performance on Wednesday as it hailed a "significant" contribution from the Fit Out division.
In the year to the end of December 2024, adjusted pre-tax profit grew 19% to £172.5m, with adjusted operating profit up 15% to £162.6m and group revenue 10% higher at £4.5bn.
The total dividend was boosted 15% to 131.5p a share.
Morgan Sindall said its secured order book rose 28% to £11.4bn, driven by Mixed Used Partnerships, which saw a 62% increase to £6.3bn.
The company said Fit Out delivered another "significant and market-leading performance", with operating profit up 38% to £99m, revenue ahead 18% at £1.3bn and an operating margin of 7.6%, up from 6.5% a year earlier.
Chief executive John Morgan said: "2024 was another record year for the group, reflecting the high quality of our diverse operations underpinned by the talent and commitment of our people, delivering significant double-digit growth for both adjusted profit before tax and the full year dividend, supported by our high-quality order book.
"Throughout the year we have continued 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 over the medium-term, a result of which is that we have upgraded medium-term targets for four out of six of the group's divisions.
"Looking ahead, while there is continued uncertainty in the wider macroeconomy, we remain positive for the year ahead. Together with our high-quality and growing order book spread across a wide number of sectors, we are well-positioned for the future and on track to deliver an outcome for 2025 which is in line with our current expectations." |
Great results. Price in the red. Standard.Top up time |
Great results. I think the share price should reach new highs now (fingers crossed). Div up 15%. |
Well, results should be strong as October's TU indicated that 2024 results would be "significantly ahead of its previous expectations" but the share price jumped sharply, perhaps too quickly and it's drifted down since. They are #1 for 2024 UK construction but not the cheapest and the market has been unforgiving this year.
Fingers crossed as they are 15% of my portfolio. |
Results day tomorrow. Which way's it gonna go? |
Fact is, John Morgan's name is on the company notepaper and it is he who runs it. And a very good job he does too. |
Morgan Sindall chair to retire in July
(Sharecast News) - Morgan Sindall said chair Michael Findlay is to retire in July after nine years in the post and had appointed Peter Harrison as a non-executive director and chair designate with effect from May 6.
Harrison was group CEO at Schroders until last November. Prior to that his roles included chair and CEO of RWC Partners, global chief investment officer at Deutsche Asset Management, and head of global equities at JP Morgan Asset Management. |
Morgan Sindall wins Canary Wharf office-to-labs job
Morgan Sindall has been confirmed for a £65m life sciences development in Canary Wharf. |
Nothing obvious. Just very weak UK economic outlook, I believe. |
3% fall today. Based on any news? |
Closing price seems to vary depending on the platform..As a novice ..is this something to do with the auction? |
Thanks for that RSI. Much appreciated. |
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 |
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. |
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 |
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 |
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