Nmcn Investors - NMCN

Nmcn Investors - NMCN

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Nmcn Plc NMCN London Ordinary Share GB0006452857 ORD 10P
  Price Change Price Change % Stock Price Last Trade
10.00 4.0% 260.00 15:51:52
Open Price Low Price High Price Close Price Previous Close
250.00 250.00 260.00 260.00 250.00
more quote information »
Industry Sector

Top Investor Posts

cc2014: The research note is telling us is that NMCN want to have a different relationship with their shareholders than they have for the last 50 years. To me this is part of the progression of the company. Along with the re-branding it is telling us they are ambitions far beyond where they are today, but what the report also tells us is they wish the market to understand this will be done in a robust, measured and sensible way. Further they don't wish to be lumped in with all the other construction companies, many of whom (Carillion, Interserve, Kier, Galliford, Amey, Laing O'Rourke, I could go on) have badly managed risk and cash but instead have a clearly differentiated strategy which targets markets where they provide expertise and/or has high barriers to entry. The report will make more investors aware of NMCN and help liquidity something that is needed and will have put (large) investors off in the past. This should in itself help the share price. Finally, I wonder whether it reflects a slow change in outlook in the Moyle family in their desire to retain their shares. Certainly the numbers in the forecasts are not the type of numbers you would be using if you wanted to sell your shares, yet it sets up a position that invites attention. Perhaps it is as simply as that, they would be open to an offer at a high price, but want to ensure the market is sufficiently aware of the value of the company that they don't have to deal with a derisory offer. Further, I would say if the company reaches a certain market cap, say £200m, the Moyle family will come under pressure to sell shares to provide liquidity. This sort of research means that if they do sell they will get a decent price for them or alternatively greater awareness of the company leads in itself to greater liquidity and a closer spread. I am now in a quandary. I have my core holding from 115 I shall keep for years yet. I like everything I see and at my age I'm happy for NMCN to progress at a steady pace and look after my investment. However, I also bought a much smaller amount at 500. I was going to sell these on the trip back to 785 but now I'm not sure whether to hold them long term.
cc2014: You best tell that about the dividends to LLOY, RBS and the rest of the FTSE100 who on average take about 5-6 weeks. I would venture the market reaction this morning is a bit disappointing. I can see the margin statement at 2% might not excite but I read it very much as the directors saying they can do better but won't commit until they can see visibility in Q4. Maybe I'm too optimistic but given most of their work is on frameworks I wouldn't anticipate a problem. The question as an investor here is your view of their future. Currently the construction sector has a really bad feel about it after Carillion, Interserve, Kier rights issue, Galliford rights etc. It's out of favour. They all had run up too much debt on the balance sheet. But here we have a unique situation. NMCN has £33m of cash compared with its market cap of £66m. I'd always said it was unlikely they would get bought out, but someone is sure to run the numbers over that. £33m net cash, generating £7m a year, no pension fund deficit to worry about. It's kind of a no brainer. Someone like Wates might gobble them up. It would be a fit for them as they don't do much work in the water sector. Wates Article Wates has £114m cash and an untapped £120m credit line. If they don't get gobbled up then fine, the directors will use the cash to invest in the long term future of the business and produce significant increases in EPS. I'm happy to sit in this trade, this is no longer about short term P/E forecasts but more about a company sitting on a pile of cash, whilst 90% of their competitors are struggling with huge debts. I believe 650p is going to look cheap in 3 years time and I'm happy to hold. I appreciate many investors have a mindset based on a much shorter timeframe.
dround87: I think we're past earnings maintenance. based on my analysis of the most recent results my target was around 600. But the number and value of contracts being won suggests another increase in forecasts to come. Backed up by confident director dealing it's priced for growth. DYOR but look further than RNS because most of it you'll find in local/industry press. If you're worried there's a trading update soon so do whatever you have to do now. Would be a shame to miss it though IMHO.
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