Qinetiq Share Discussion Threads

[bad robot] 21/10/2013 13:42

WC

A big buyer mopping share is causing the price to pop. I am staying for another 2-3 days. There's no smoke without fire, someone knows something here, it's too strong.

[wad collector] 21/10/2013 13:16

Tempting to sell a few , Bad Robot , not enough info to judge.

[bad robot] 21/10/2013 12:11

must be at an advance stage, selling US business.

[bad robot] 21/10/2013 12:02

12% holding. Artisan must know something here.

[wad collector] 21/10/2013 09:06

Hadn't noticed last months trading update (in-line basically).Today it has broken out of the last 6 months trading range.
Suspect this is why;

QINETIQ, the FTSE 250 listed defence firm, is considering plans to carve out its US unit amid an ongoing review into how to cash in on the flagging division.

The former government-owned company, which was floated on the stock market in 2006, is understood to have slapped a for sale sign on its US Services division after a five month review into maximising returns on the business.

The launch of a sell-off, first reported by the Sunday Times, follows an announcement in May that the company was undertaking a strategic review into the division, which offers engineering services to NASA as well as technology to protect against cyber attacks.

Qinetiq declined to comment on whether it had launched a sale process but said in a statement: "We are working with a number of advisers to understand the options for maximising the value of US Services."

The US division, which contributed about a third of Qinetiq's £1.3bn revenues last year, has been under pressure recently after a cut in federal spending by the American government on some defence projects.

Last year it posted profits of £21.9m, down from £32.1m in 2011.

The division is in a difficult position as a standalone to win new business given it is too large to compete as a small and medium sized enterprise, but too small to go head-to-head with mega-defence firms for larger contracts.

Chief executive Leo Quinn, who was previously chief executive of banknote producer De La Rue, previously said in May he was "not ruling out options" on the future of US services.

The division sells most of its services to the financial sectors, which represents about 40 per cent of customers.

[wad collector] 13/9/2013 12:08

Seems to be stuck in the 180 to 200 corridor for now. My 175 add target remains unfulfilled. Where next?

[wad collector] 07/8/2013 09:48

Xd 2.7p but the drop today is greater ; seems to trending downwards again .

[wad collector] 29/7/2013 09:37

Just noticed last weeks interim statement. The "in-line" bottom line seems correct judging by its rippleless effect on the share price
The invocation of the US holidays as a factor was a bit worrying ; smacks of excuses , but maybe I am being harsh. Still happy to add if they hit 175 but otherwise doing nothing.

Zeppo ; just noticed that the financials have changed dramatically since your post above about the dividend cover. Were we looking at out of date figures? Now showing loss per share 20p.
I think it all comes down to the interpretation of the £256M "non-cash goodwill impairment on the US acquisition". I hope this is an accounting anomaly and not a real loss!

[zeppo] 06/6/2013 21:37

I may also add.

The divi cover should allow for at least steady divi growth, should it not, with positive implications for the SP????

But they need to continue to win contracts etc.


z

[wad collector] 06/6/2013 16:58

It would seem that a buying opportunity beckons. Impossible to know whether this will drop further , I am going to look for about 175 before buying more , but it is purely a guess , and won't be too disappointed if they ping back up again without getting there.

[wad collector] 28/5/2013 10:31

That is indeed an impressive dividend cover.They could quadruple the dividend and it wouldn\'t look out of place . But they won\'t...

[zeppo] 25/5/2013 17:44

From the ADVFN \'Financials\' above.

\'
.....
PE Ratio 4.81
Dividend Yield 1.05 %
EPS - basic 39.60 p
Dividend PS 2.00 p
Dividend Cover 19.80

........ \'

If they win contracts, looks too good to be true???

z

[zeppo] 24/5/2013 17:38

Two days before the results they closed at 2.08.

Disappointing!


z

[wad collector] 24/5/2013 11:32

They look strange results to me. Accounting can sometimes seem a mysterious art.

[huttonr] 23/5/2013 08:32

I'm still trying to understand the results but they look good on the surface - esp. the cash/debt change - there does seem to be a 'clear the accounts up to make a good results next year' flavour.

[simongn] 13/5/2013 18:08

Would be nice if today's +3% were a sign of good results ahead . . .

[zeppo] 07/5/2013 19:28

Why the fall today?

16 days before the Preliminary figures.


z

[wad collector] 07/5/2013 16:20

Sharp fall this afternoon heading towards my buyback level.

[simongn] 03/5/2013 14:02

Why the steep rise all of a sudden ? NFP ?

[duxy786_2] 02/5/2013 22:36

This maybe...http://www.wired.co.uk/news/archive/2013-05/2/comment-crew-plunder-qinetiq

[wad collector] 28/3/2013 08:35

Market looks unimpressed , but I must be missing something.

[zeppo] 26/3/2013 15:13

We are getting nearer to the Full Year figures, 23rd May 2013..

If the divi is increased I will be satisfied.

At least the share price has clawed its way back to the float price and a little more.

If the income looks like recovering then I believe it has further to go.

z

[wad collector] 26/3/2013 11:25

sp seems to be on the move again ; somehow cannot see this steaming ahead much further but I have sold a lot of shares too early in the last few months!
I think I will re-set my 215 limit sell .

March 2013
Investec 19/03
Reiterates
Hold
Hold
180.00p 195.00p
Barclays Capital 08/03
Retains

Equal weight

Equal weight
160.00p 190.00p

Sorry that has not pasted well , but investec a have kept their hold recommendation but raised the target from 180 to 195.
Which shows what a dubious thing broker targets generally are.