Share Name Share Symbol Market Type Share ISIN Share Description
Redde Northgate Plc LSE:NTG London Ordinary Share GB00B41H7391 ORD 50P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 250.00 0.00 01:00:00
Bid Price Offer Price High Price Low Price Open Price
249.00 250.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 745.47 60.41 38.60 6.5 333
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 250.00 GBX

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Date Time Title Posts
04/9/202008:31NTG: A turn around story!57
09/5/202008:54Northgate - Sales & Profits keep Growing332
14/8/200908:04Any one in to Northgate1

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Redde Northgate Daily Update: Redde Northgate Plc is listed in the Support Services sector of the London Stock Exchange with ticker NTG. The last closing price for Redde Northgate was 250p.
Redde Northgate Plc has a 4 week average price of 0p and a 12 week average price of 0p.
The 1 year high share price is 355p while the 1 year low share price is currently 242p.
There are currently 133,232,518 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Redde Northgate Plc is £333,081,295.
rustyspanner: Share price down but Stockopedia show this as bullish. Anyone able to explain that to a new kid on the block?
carcosa: The full 28 page report can be downloaded from here: hTTps:// if you have a subscription However a summary from here hTTps:// says: “An interesting time to invest in Northgate” says Zeus Capital We believe now is an interesting time to invest in Northgate, with a new executive board and a capable management team in place who have already delivered progress on an ongoing turnaround as we await a full strategic review. The group now has a clear and well communicated capital allocation strategy in place and improved earnings quality, in our view. We believe that the growth opportunity in the UK, the value of the Spanish business and the progress made to date with the turnaround are not being reflected in the share price, which is currently 15.9% below book value (414p per share in FY19A rising to 468p in FY22E). We use a variety of valuation methods including P/B, SOTP, DDM and DCF modelling and arrive at an average implied share price of 450p, 29.0% above the current share price. Investment case summary: Northgate is a clear market leader in its markets of UK & Ireland (c.25% share) and Spain (>40% share), enabling it to achieve strong margins and good returns across the group. The management team now have a clear and backable strategy to deliver growth in earnings across the group centred around defending the strong Spanish position while optimising and growing the UK business through investment in core systems and operational efficiencies. Management remain committed to a progressive dividend, paying a yield of 5.4% in 2020E based on our forecasts. Growth strategy: The group’s growth strategy is built around four key pillars being defend and grow share in flexible hire, selectively gain share in minimum term hire, broaden the provision of ‘capital light’ fleet solutions and optimise and increase participation in the disposals market. The group is well positioned in both the UK and Spain to execute this strategy, deliver uplifts in earnings and improve returns metrics from here. Forecast assumptions vs. consensus: Our forecasts sit 5-7% below current consensus. We take a more conservative view of UK volumes, and competitive pressure in Spain. On our conservative forecasts the group’s growth dynamics remain attractive, in our view. We expect adj. PBT in 2020E of £59.0m (vs £61.8 company consensus) going to £61.9m in 2021E (vs £65.4m). Net debt based on our assumptions in 2020E is £481.4m which is 1.8x FY20E EBITDA. Valuation: The shares are currently 15.9% below book value, which is unwarranted in our view. Based on our assumptions the shares trade on an EV/EBIT of 12.8x and a P/E of 9.8x in 2020E. We estimate the intrinsic value of the group to be 450p per share, based on our DCF, DDM, peer analysis and P/B multiple of 1.25x, which would imply a P/E of 12.7x and EV/EBIT of 14.6x on what we believe to be conservative FY20E estimates.
cwa1: Reasonable looking results this morning IMO:- Kevin Bradshaw, Chief Executive of Northgate, commented: "We continue to make good progress executing our rental strategy to address the compelling growth opportunity in our markets. "In the UK, our self-help turnaround programme is delivering. We have successfully introduced regular price increases during the year, and applied greater commercial focus to increase the efficiency of our operations. We turned a pricing corner in the second half of the year with our average hire rates returning to year-on-year growth after a three-year period of decline. Combined with our VOH(2) growth(3) driven by selective expansion of our minimum-term product, we delivered both rental income and average VOH growth(3) of 11.3% in 2019. Our disposal channel has also performed well, achieving firm sales prices for the vehicles we sell. "In Spain we continue to leverage the strength of our flexible hire business to provide a comprehensive range of fleet hire solutions to our customers. We are pursuing minimum-term growth opportunities with increasing selectivity as we take steps to protect the strong and attractive returns of the business against increasing price competition in the market. Lower disposal profits primarily reflect lower disposal volumes driven by the transition to longer holding periods following the previously announced strategic decision to increase the ageing of our fleet. "Steady state cash generation for the Group remains strong, and has enabled us to increase the dividend and fund attractive minimum-term growth opportunities. Our progressive dividend reflects the confidence of the Board in the future prospects of the Group. Through continued performance improvement in our core rental business and extending our penetration into complementary services to broaden the fleet solutions we provide, I am confident that our strategy will deliver our medium-term objectives of further profitable growth, strong cash generation and attractive returns for shareholders. "We are disappointed with the share price performance and remain focussed on addressing the undervaluation of the Group. The search for our new Chairman is well advanced with an exceptionally strong shortlist. The Board and management look forward to working alongside a new Chair appointment to maximise value for shareholders".
carcosa: Richard Bernstein @CrystalAmberRB1 We like to see management with "skin in the game." So it's disappointing that Northgate's CEO Kevin Bradshaw, who since joining in 2017, has been paid more than £1 million, has never purchased a share. Tangible book value is 420p. Share price is 327p. We're now stake building.
eastbourne1982: It was basically a profit warning however there is some hope of a turnaround here hence why the share price isn't down 25%. Tough one to call however I certainly wouldn't short this.
clarky5150: Home » Reports » Broker Ratings » Northgate plc 48.3% Potential Upside Indicated by Jefferies International broker ratings Northgate plc 48.3% Potential Upside Indicated by Jefferies International Posted by: Amilia Stone 13th December 2017 Northgate plc with EPIC/TICKER (LON:NTG) had its stock rating noted as ‘Reiterates217; with the recommendation being set at ‘BUY’ today by analysts at Jefferies International. Northgate plc are listed in the Industrials sector within UK Main Market. Jefferies International have set a target price of 600 GBX on its stock. This is indicating the analyst believes there is a potential upside of 48.3% from the opening price of 404.5 GBX. Over the last 30 and 90 trading days the company share price has decreased 36.5 points and decreased 5.5 points respectively. The 52 week high share price is 575.5 GBX while the year low share price is currently 382.25 GBX. Northgate plc has a 50 day moving average of 441.16 GBX and a 200 day moving average of 475.90. There are currently 133,232,525 shares in issue with the average daily volume traded being 346,480. Market capitalisation for LON:NTG is £538,592,482 GBP.
3rd eye: Northgate plc 45.8% Potential Upside Indicated by Citigroup Posted by: Katherine Hargreaves 22nd April 2016 Northgate plc with EPIC/TICKER LON:NTG has had its stock rating noted as ‘Initiates/Starts’ with the recommendation being set at ‘BUY’ this morning by analysts at Citigroup. Northgate plc are listed in the Industrials sector within UK Main Market. Citigroup have set their target price at 600 GBX on its stock. This is indicating the analyst believes there is a potential upside of 45.8% from today’s opening price of 411.6 GBX. Over the last 30 and 90 trading days the company share price has increased 10.8 points and increased 63.3 points respectively. Northgate plc LON:NTG has a 50 day moving average of 395.66 GBX and the 200 Day Moving Average price is recorded at 429.24 GBX. The 52 week high share price is 664 GBX while the 52 week low for the stock is 316.3 GBX. There are currently 133,232,517 shares in issue with the average daily volume traded being 413,661. Market capitalisation for LON:NTG is £550,783,217 GBP.
haywards26: Good write up Jaz, I am currently on the sidelines watching Northgate. It has been a dramatic share price fall..
imranawan: What are people's thoughts on the results. PBT and Op profits fell slightly, but I believe the dep policy impacted these figures. Debt looks high but they seem to have decent asset backing on the balance sheet. The share price looks attractive, but the outlook statement and forecast EPS for 2017 were flat. Would appreciate others thoughts.
eastbourne1982: Nearly 35% down since the share price peaked in around April / May 2015, seems overdone to me. Current price around £4.33 gives a very low PE ratio and decent dividend.
Redde Northgate share price data is direct from the London Stock Exchange
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