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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Northern Bear Plc | LSE:NTBR | London | Ordinary Share | GB00B19FLM15 | ORD 1P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| 0.00 | 0.00% | 54.50 | 0.00 | 08:00:02 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 53.00 | 56.00 | 55.00 | 54.50 | 55.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Roof,siding,sheet Metal Work | 68.68M | 1.62M | 0.1181 | 4.61 | 7.49M |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| - | O | 0 | 54.50 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 19/9/2024 | 17:30 | UK RNS | Northern Bear Plc Result of AGM |
| 19/9/2024 | 07:00 | UK RNS | Northern Bear Plc Trading Update |
| 06/8/2024 | 17:40 | UK RNS | Northern Bear Plc Director Dealing |
| 22/7/2024 | 14:44 | ALNC |  EXECUTIVE CHANGES: NWF and Northern Bear pick new board chairs |
| 18/7/2024 | 14:34 | ALNC | EARNINGS: Sondrel revenue drops; Merit swings to profit as costs fall |
| 18/7/2024 | 07:00 | UK RNS | Northern Bear Plc Preliminary Results |
| 17/7/2024 | 07:00 | UK RNS | Northern Bear Plc Board Changes |
| 04/6/2024 | 07:00 | UK RNS | Northern Bear Plc Holding(s) in Company |
| 03/6/2024 | 17:36 | UK RNS | Northern Bear Plc Director Dealing |
| 21/5/2024 | 18:24 | UK RNS | Northern Bear Plc Holding(s) in Company |
Northern Bear (NTBR) Share Charts1 Year Northern Bear Chart |
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1 Month Northern Bear Chart |
Intraday Northern Bear Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 30/8/2024 | 11:18 | Northern Bear | 511 |
| 14/12/2023 | 10:18 | Northern Bear | 1,548 |
| 16/7/2019 | 15:15 | Northern Bear (NTBR) One to Watch on Monday | 1 |
| 01/2/2016 | 07:13 | Northern Bear - with Charts | 16 |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|
| Top Posts |
|---|
Posted at 07/10/2024 09:20 by Northern Bear Daily Update Northern Bear Plc is listed in the Roof,siding,sheet Metal Work sector of the London Stock Exchange with ticker NTBR. The last closing price for Northern Bear was 54.50p.Northern Bear currently has 13,750,276 shares in issue. The market capitalisation of Northern Bear is £7,493,900. Northern Bear has a price to earnings ratio (PE ratio) of 4.61. This morning NTBR shares opened at 55p |
Posted at 30/8/2024 11:14 by rmillaree based on recent past and comments below i would be hopeful 4p per year might turn up (2p each 6 months for last 18 months). the reality is it will fully dependent on operating performance and available cash - on the basis 10p plus eps is expected 4p per year seems very do able.this is what they said last month - We also recognise the importance of a regular dividend to the Company's shareholders. As a result, the Directors propose the payment of a final dividend of 2 pence per ordinary share. This would be payable on 25 September 2024, to shareholders on the register on 30 August 2024. This is subject to shareholder approval at the Annual General Meeting, to be held on 19 September 2024. Our intention is to continue with a progressive dividend policy, subject to the Group's relative performance and after taking into account the Group's available cash, working capital requirements, corporate opportunities, debt obligations and the macro-economic environment at the relevant time. |
Posted at 14/8/2024 16:13 by aimwinner Did anyone else see this, I only just have. They released it at 17.40 the broker needs a slap its bad news you release after the market closes not good!Director Dealing Northern Bear (LSE:NTBR), the AIM quoted group headquartered in Northern England providing specialist building and support services to customers across the UK, announces that John Davies, Chief Executive Officer of the Company, purchased 16,634 ordinary shares of 1p each in the Company (the "Ordinary Shares") at an average price of 60.1p per Ordinary Share. Following the purchases, John Davies holds 41,228 Ordinary Shares in the Company, representing approximately 0.30 per cent. of the Company's currently issued share capital (excluding treasury shares). |
Posted at 21/7/2024 18:04 by aimwinner ArthurI have no idea either so why not email the company and ask Tom to explain it to you, then please share the answer on here. It will also be a good test of their new open communications policy now that Jeff has gone. Good to see we get 2p I thought that given the amount they have returned in the last year we would get nothing. |
Posted at 18/7/2024 19:15 by zangdook I somehow missed this:As a result, the Directors propose the payment of a final dividend of 2 pence per ordinary share. This would be payable on 25 September 2024, to shareholders on the register on 30 August 2024. This is subject to shareholder approval at the Annual General Meeting, to be held on 19 September 2024. |
Posted at 15/5/2024 12:47 by rmillaree that probably seems strange at face value - but perhaps if he had an active sell in that was keeping the price down ?in the absence of info the contgrary i supect he might just keep on selling in similar manner ? not sure if anyone else agrees normally i would expect price to remain depressed however 60p seems to be holding up - what we dont know if where price may have been if it wasnt known that he was active seller - i suspect few may may be releuctant to add if his continual selling is likely to be short term drag - or they feel that may provide cheaper enrty point. although 70p seems like the promised last perhaps if they push on with decent trading this new year that level may be seen ? |
Posted at 15/5/2024 11:22 by this_is_me Jeff sells a large chunk of shares and the share price goes up. |
Posted at 08/5/2024 17:46 by george1964 Hybridan released a new research report on NTBR whilst maintaining their forecasts for FY24 and FY25, noting that "Northern Bear is currently trading at P/E of 4.12x for FY24 and 3.98x for FY25 based on our forecast and the market capitalisation on 7 May 2024 based on the post-tender reduced number of shares. We think this remains an attractive level." Based on Hybridan's prior research report from 24 Oct 2023, their DCF "yields a valuation of 117.8p" based on earnings forecasts that are unchanged since that date. It's bizarre that Hybridan would not restate their DCF valuation in each report. |
Posted at 05/4/2024 13:32 by rmillaree Aimwinner"So much for him being a long-term patient holder then!" You have lost me - i have taken the viewpoint that Jeff wants to exit the building - imho that was made pretty clear in the tender offer last october - so imho this isnt a surprise. per company last October As part of this strategic review, the Board explored potential exit options for all Shareholders, including Jeff Baryshnik, as the Company's largest shareholder. Aimwinner "Seems no reason to buy at the moment." I would certainly agree that if Jeff is offloading his shares on ongoing basis - or there is the hint he would offload on spike up - then i would say that would explain why the shareprice can perhaps be expected to go nowhere "all other things being equal" I was actually slightly surprised price didnt drift back down earlier as imho it was reasonably clear Jeff wanting to exit and the one off tender offer were slightly at odds if Jeff needs/wants to sell the rest sooner rather than later. ref "all other things being equal" On a more positive note looking at the underlying financials i currently have pencilled in 14.5p normalised eps expectations for 2025 - so i wouldnt say "all other things are equal". the trend in the companies EPS is upward (ok that might be related to tender offer) and we are NOW into the 2025 year - so thats now current years earnings where as previously it was next years earnings. Will be interesting to see if and when the pencil in some figures for next year (ye 31/3/2026 - 2026 year !). Note if the company is doing nothing other than churning out £2 mill pa in "clean" profits - there is decent hope to presume that that alone may result in upward trending shareprice - imho this is depsite the fcat the next 18 months cashflow may be exiting the building siompky to pay for that tender offer - one cant deny if we own decent chunk more of company and balance shet is back where it was in under 24 months thats not a terrible result. So lets not ignore £2mill ish (plus hopefully) pa of good clean profit should be good news at 60p sharepirce ? |
Posted at 17/7/2023 15:26 by patsc100 Update on #NTBR - Northern Bear from my side.Disclosure: I own shares I have been closely monitoring the activities of NTBR for a significant period, and it appears that Jeff is implementing the necessary measures to drive positive changes within the organization. I am of the opinion that his efforts will yield further improvements, and I do not anticipate him to acquire the business. This likely explains why he is maintaining ownership below the 30% threshold. While I agree with some shareholders that shareholder communication could be improved, I am confident that we will witness further improvements in the medium term. The research report on NTBR was an initial positive step in effectively communicating the undervaluation to the market. Presently, the valuation of this business is significantly underestimated, with a trading multiple of 5x profit and no debt, coupled with an additional 1.5x profit (equating to 3.2 million) in cash. In the interest of maintaining a margin of safety, I assume that all the cash will be required to fund working capital requirements. There remain untapped opportunities to enhance shareholder value, and I would like to propose a value creation plan going forward. One of the most crucial sections of the annual report is the "Strategy & Dividend" segment, wherein the board communicates its intention to deploy capital for organic growth (although the specifics are unclear) and acquisitions, while also returning a portion of capital via dividends. An issue we continue to encounter pertains to capital allocation. A1, due to its high capital intensity and lack of alignment with the construction-related group, is deemed a subpar business. Over the past 12 months, NTBR has invested 1.4 million pounds in capital expenditures. In the A1 companies house report, I see capital expenditures of 1.47m. Having analyzed similar construction-related enterprises, I believe that approximately >200,000 pounds would be the maximum amount required to fund the capex requirment of the construction businesses. In my view, NTBR should take the following steps: a) Dispose of the A1 forklift rental business, either through liquidation and asset sale or by finding an interested acquirer. This would decrease the company's capital intensity, mitigate risk, and enhance overall quality. Some napkin math - be cautious this is definitely wrong and misses the depreciation expenses and tax shield: It will reduce the operating profit by 240K, but also free up ca. ca 800k in cash-flow - after removing cash-inflow of 700k. b) Considering the current valuation, the optimal capital allocation approach would involve share buybacks. Unfortunately, Jeff cannot exceed the 30% ownership threshold, as doing so would necessitate a bid for the entire company. Nevertheless, NTBR could employ the proceeds to repurchase 15% of its shares without Jeff surpassing the 30% mark. Implementing a Dutch tender offer would be highly advantageous. This represents the most effective use of capital at this time, superior to dividends or reinvestments in the A1 business unit. While this would reduce the free float, it would actually enhance liquidity as legacy shareholders would have the opportunity to divest their shares, likely at a slight premium. c) The second-best option, following the repurchase of 15% of shares, would involve utilizing the capital to acquire complementary businesses and pursue a roll-up strategy. Multiples for roofing businesses and other construction-related enterprises typically range from 4-5x EBITDA, translating to returns of 15%-20% on invested capital. Given NTBR's current size, a more conservative approach would be advisable, targeting acquisitions at 3-4x EBITDA to maintain high returns. NTBR generated 2.1 million in the last twelve months. If they could reinvest that capital at a 20% rate, we would witness an earnings increase of 400,000 within a year. Although this would preclude receiving a dividend, it would be acceptable, as I am unable to reinvest my capital at such high rates. Consequently, we would possess ownership in a business trading at 5x earnings, experiencing earnings growth of 20% or more. d) further, I would like to see divestments of the non speciality construction businesses - Arcas. This is a low margin business mitigating some high construction related project risks. I am following this business further, but so far satisfied with the development. It's slow but it is progressing. It's a low % of my portfolio as of now, but I might add a few shares. |
Posted at 12/7/2023 13:28 by george1964 Below are excerpts of the report from Hybridan, titled Ready to shine: attractive valuation, high dividend yield and predictable profitability.Our DCF model based on a WACC of 13.31% and a 3% terminal growth rate yields a valuation of 99.1p, an upside of 100%. We believe Northern Bear’s business performance and dividend payouts, coupled with better capital market visibility over time, will gradually drive up its share price. Northern Bear is currently trading at 0.15x EV/sales, 2.58x EV/EBITDA adjusted and 6.26x P/E multiple based on our FY23 forecasts and the closing share price on 10 July 2023. Notably, even at our DCF valuation of 99.1p, which is approximately double today’s share price, Northern Bear still would be trading at a discount to the most relevant comparable companies. [Comparable companies cited in the report include Sureserve (SUR) at 7.2x EBITDA and 14.1x P/E; Water Intelligence (WATR) at 6.6x EBITDA and 15.6x P/E; and HomeServe acquisition recently completed at 17.7x EBITDA. Private equity is active in the specialist building services industry at c.13.9x EBITDA, citing the Lincoln facilities services index.] |
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