Share Name Share Symbol Market Type Share ISIN Share Description
Petards LSE:PEG London Ordinary Share GB00B4YL8F73 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 24.00p 38,447 11:36:10
Bid Price Offer Price High Price Low Price Open Price
23.00p 25.00p 26.00p 24.00p 26.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 15.58 1.21 3.31 7.3 13.8

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Date Time Title Posts
16/8/201814:21Petard's Group - The Long Story1,170
10/9/201500:11Petards...winning lots of contracts 2013-2014735
21/1/201513:04Petards Group - The Long Story-
21/8/201417:23Petards is this the new PEG ? Shareholders look !52
18/12/201311:38*** Petards Plc ***2,528

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Petards Daily Update: Petards is listed in the Support Services sector of the London Stock Exchange with ticker PEG. The last closing price for Petards was 24p.
Petards has a 4 week average price of 24p and a 12 week average price of 21.50p.
The 1 year high share price is 30p while the 1 year low share price is currently 17.50p.
There are currently 57,468,229 shares in issue and the average daily traded volume is 752 shares. The market capitalisation of Petards is £13,792,374.96.
bookbroker: Beginning to question the rational for holding these, contract wins has no bearing on the share price clearly, is that because the market believes they are achieving these by slicing the potential margin or the inability of the Abdullahs to inspire confidence in this company!
rivaldo: Hybridan have issued a new note today, concluding that a 40p share price would still be reasonable and that PEG trades at a significant discount to its sector comparators. In particular, they comment on the RTS acquisition and new Network Rail contract and say: "Network Rail is under well documented pressures to improve efficiencies. Automation of systems and digital enhancement are in our view an important part of achieving this. Indeed, Network Rail in its “Supplier Qualification System” (SQS) for potential IT partners” released in January, indicated that it plans to spend some £2bn on IT goods and services over the next decade. This is against a backdrop of £48bn pledged for rail network improvements by the UK government covering the period from 2019 to 2024. We believe that RTS’s specialist capability and strong relationship with Network Rail leaves it well positioned to pick up more work from Network Rail and its Tier 1 suppliers, both of which it already services. We understand that RTS is engaged in projects that will increase its profile as a trusted specialist service provider to Network Rail’s larger suppliers who lack the expertise in webbased, real-time safety critical applications. On a fully diluted basis, Petards trades on a current year PE multiple of 11.5x falling to 9.3x for 2019E and is on a price/sales multiple of under 1x. The 2019E EV/EBITDA multiple is circa 5x reflecting the strong balance sheet and lack of leverage." "We believe that Petards merits a re-rating to at least a mid-teen PE multiple. At 40p (72% upside), the shares are on a 16x FY2019E PE multiple which we do not believe prices in any significant growth from RTS. RTS was Petard’s second acquisition in a little over two years. The Board continues to keep an eye out for acquisitions that could expand the Group’s capabilities in fields including software, data analytics and services."
rivaldo: Absolutely agreed - for example it look's like there's been 87k and 100k sales this week. But selling can be for any number of reasons, whereas buying is much more interesting and is for one reason and one reason only - because the buyer believes the share price will increase.
rivaldo: Chelverton Growth Trust have just issued their interims to 28th February. In it they have this to say about PEG, in which they now have £460,000 invested: Https:// "Part of these cash proceeds were used to re-acquire shares in Petards, taking the shareholding back to the level we had previously held. These purchases were however at much lower prices than the previous shares had been sold at. The company has just produced a very positive statement and the future prospects look good and the share price has started to recover strongly."
the oak tree: Who knows , maybe with the convertible share issue now behind us, delivery of some good numbers this year and the share price might will set on another upward path. Sentiment can go for as well against you.
rivaldo: Bonkers early markdown due to illiquidity imho. A strong bounce from here wouldn't surprise me. The deferred revenue would only have given rise to a £300k or so impact on PBT - and will benefit this year anyway. Plus PEG should be given some credit for recovering more than twice that amount - £0.7m pure cash - in the settlement. If that had been announced separately the share price would probably have risen 10%! Their rail markets are booming - domestically and globally - and their order books are extremely healthy. Plus their defence division is beginning to expand.
the oak tree: Happy New Year everyone. Any ideas what gave rise to the large increase in the share price this morning? There was a BBC news headline about rail prices rising fast so budgets from its customers won't be under pressure compared to other ares of the economy. But for that prise rise I'd be expecting its been tipped strongly as a New Year NAP somewhere?
rivaldo: From the rather successful Chelverton Growth Trust's results yesterday - having top-sliced PEG at the peak (which may be largely the reason for the share price fall from the top given PEG's tiny £8.5m m/cap), they've been buying back again more recently. They now have 10.3% of their portfolio in PEG: Https:// "The holding in Petards plc was reduced as the share price moved up very sharply and then towards the end of the year the holding was modestly added to at much lower prices despite very positive interim results. Petards plc supplies sophisticated products to the rail industry and is building a very large order book to be delivered over the next two to three years."
rivaldo: Enough time has passed since publication to post WH Ireland's post-interims views. As I posted earlier, they see 2.12p EPS this year rising to 2.31p EPS next year. At 25.25p that's a forward fully diluted P/E of only 10.9 now, and an adjusted EV/EBITDA of less than 6. They point out that the order book has increased by 20% to £24m since the start of the year, giving excellent forward visibility. Here's their note: "Petards* Interims illustrate good progress; order book +20% Petards supplies advanced security and surveillance systems to the Transport, Defence and Emergency Services markets. H1 2017A results demonstrate a creditable performance, with growth in Transport and Emergency Services more than making up for a reduction in Defence sales. The order book has increased by 20% since the beginning of the year to £24m, providing excellent visibility over the next 18 months, including £8m order coverage for H2 2017E. Following the results, we have left our revenue and profitability forecasts unchanged, whilst reducing our year-end net cash expectation to reflect the increase in working capital and higher capex in the year. We maintain our Buy recommendation and 42p share price target. H1 2017A revenue increased by 8.1% to £8.0m, reflecting good performances in Transport, which accounted for almost two thirds of Group revenue, and Emergency Services, offset by lower activity in Defence, albeit with the latter ending the period strongly. The gross margin moved 340bps higher to 38.6%, this reflecting the fact that two of the six major eyeTrain contracts were nearing completion. Administration costs increased by £432k, in part reflecting a full period of costs from QRO, along with higher depreciation and amortisation following increased investment. PBT of £503k was 5.9% ahead of the prior six month period, with diluted EPS moving 3.2% higher to 0.98p. The Group ended the period with a net cash position of £33k (FY 2016A £0.8m), reflecting an increase of £1.1m in working capital and total capex of £585k, principally relating to three major eyeTrain orders. Management expects to see positive cashflows from these eyeTrain contracts in H2 2018E. The order book is reported to have increased by 20% to £24m as at 30 June, with eyeTrain accounting for more than 75% of this and including Stadler Bussnang AG on the list of customers for the first time. H2 2017E order coverage presently stands at £8m, with approaching £11m secured for FY 2018E. On the back of the results, we have left our revenue and profitability forecasts unchanged. However, given the anticipated working capital and capex requirements, we have reduced our year-end net cash forecast by £0.9m to £0.3m before expecting to see an improvement in H2 2018E. The shares currently trade on a FY 2017E fully diluted adjusted PER of 13.8x and adjusted EV/EBITDA of 6.0x. Given the level of secured work, in addition to the pipeline of opportunities, we believe that these multiples continue to undervalue the business."
bookbroker: Seeing the size of PEG. in their portfolio, and the diminishing percentage of the portfolio that PEG. constitutes, it is clear they are having an effect on the share price here.
Petards share price data is direct from the London Stock Exchange
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