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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Renew Holdings Plc | RNWH | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -2.00 | -0.21% | 938.00 | 16:35:14 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 937.00 | 924.00 | 947.00 | 938.00 | 940.00 |
| Industry Sector |
|---|
| CONSTRUCTION & MATERIALS |
| Top Posts |
|---|
Posted at 07/2/2024 09:31 by rivaldo Fundamental Asset Management hold RNWH in their portfolio, and their fund manager is very positive about RNWH in this new podcast - listen from around 15 minutes in:Also, it's relevant to see a rail recruitment industry specialist who works with RNWH's AMCO having a record results year and being similarly bullish: "Coleman James partners with SMEs and PLCs in the rail industry, including AmcoGiffen (part of Renew Holdings PLC), VolkerRail, Motion Rail and RES Group. "Much of our growth is aligned to recruiting personnel to fulfil CP6 infrastructure projects, particularly for Tier 1 and Tier 2 contractors," explained Andrew Mackay, Managing Director at Coleman James. "We’ve built successful, long-term partnerships with SMEs, owner-led businesses and Plcs, particularly across telecoms, civils and signalling. For our next phase of growth, we’ll be targeting infrastructure companies on the CP7 framework as well as major projects across the rail industry, who share our commitment to deliver quality and value, through sustainable recruitment strategies." |
Posted at 05/2/2024 21:00 by mayers Poor interviewer in my opinion. Surely investors will be concerned as to whether companies will remain within the AIM market and whether these companies will fall to Private Equity. There may even be falls in SPs if companies move from AIM. |
Posted at 31/1/2024 08:53 by rivaldo Shore Capital reiterate their Buy and 1000p price target:"Buy’ Renew, says Shore Capital Specialist energy infrastructure engineer Renew (RNWH) has a lower risk profile than the market is pricing in, says Shore Capital. Analyst Tom Fraine retained his ‘buy’ recommendation and ‘fair value’ target price of £10 on the stock, which closed at £8.50 on Tuesday. The group announced trading momentum has continued into full-year 2024 ahead of its annual general meeting. Recent updates on UK infrastructure spend have been positive for the group and Fraine said the group presents ‘an attractive opportunity for investors to benefit from the UK’s government’s commitment to spend £600bn on infrastructure from 2022 to 2027’. ‘We believe Renew is protected against economic downturns given that its revenue is driven by the public sector,’ Fraine said. ‘We continue to believe Renew has a lower risk profile than the market perceives, possibly due to associations with peers servicing much larger fixed contracts.’" |
Posted at 05/10/2023 08:59 by rivaldo In the current market simply oscillating around the £7 area is probably as good as it gets compared to most stocks at present :o))Meanwhile Investors Champion are very happy with RNWH's performance: "Renew: reassuring as always Renew (AIM: RNWH), the engineering services group supporting the maintenance and renewal of critical UK infrastructure, announced that revenue and operating profit for the year is set to be marginally ahead of market consensus, which was for revenue of £927.9m and adjusted operating profit of £62.3m. Net cash at 30 September 2023 is also anticipated to be ahead of market expectations, which were for net cash of £31.5m. Renew remains well positioned to continue to benefit from the UK's committed infrastructure spend with exposure to long term operating budgets. Renew shares have proved to be commendably resilient in the small cap sell-off - long may it continue!" |
Posted at 03/10/2023 06:50 by rivaldo "Anomalously cheap"....."Shore Capital: Renew is ‘anomalously cheap’ Engineering group Renew (RNWH) is much lower risk than the market thinks and also has the ability to benefit from government infrastructure spending, says Shore Capital. Analyst Tom Fraine retained his ‘buy recommendation&rsquo ‘We believe Renew presents an attractive opportunity for investors to benefit from the UK government’s commitment to spend £600bn on infrastructure from 2022 to 2027,’ he said. ‘Given the nature of Renew’s variable, cost-plus contracts, we believe it is very well placed to pass on inflationary pressures to customers. We also believe it is protected against economic downturns given that its revenue is driven by the public sector.’ Fraine said Renew has ‘a lower risk profile than the market perceives’ as its peers service much larger contracts. He said the valuation of the company was ‘anomalously cheap’ given its return on invested capital, earnings, and cash position." |
Posted at 18/5/2023 09:02 by rivaldo Investors Champion are also keen on RNWH:"Renew: looking good as always Renew Holdings (AIM: RNWH), the Engineering Services Group supporting the maintenance and renewal of critical UK infrastructure, announced excellent interim results for the six months ended 31 March 2023. Renew's activities are focused into two business streams: Engineering Services, which accounts for over 98% of the Group's adjusted operating profit, focuses on the key markets of Rail, Infrastructure, Energy (including Nuclear) and Environmental, which are largely governed by regulation and benefit from non-discretionary spend with long-term visibility of committed funding. Specialist Building focuses on the Science, Landmark and High Quality Residential markets in London and the Home Counties. Group revenue in the period increased 13.8% to £471.8m which includes a contribution from the acquisition of Enisca since December, as well as organic growth of 11.6%. Group adjusted operating profit was 8.8% higher at £28.3m with the adjusted operating profit margin 6.0% (HY22: 6.3%). Across the two business streams… Engineering Services activities saw revenues climb 15% to £435.8m with adjusted operating profit up 11.6% to £29.7m. Performance was driven by continued positive momentum in the Rail, Infrastructure and Environmental sectors, with the Engineering Services order book standing at a highly supportive £780m at 31 March 2023 (31 March 2022: £705m). The Government's Autumn Statement re-confirming a commitment to a record £600bn investment in transforming the UK's infrastructure to meet the target of net zero carbon emissions by 2050 is good news for Renew. As are ambitious plans to scale up affordable, clean, homegrown power and build thriving green industries to boost the UK's energy security. Within this, Network Rail, a significant customer for the Group is expected to invest £44bn over Control Period 7, which runs from 2024 to 2029 with expenditure expected to focus on operations, maintenance, and renewal of the national rail network. This plays to the Group’s strengths as does the Government's commitment to a rail decarbonisation programme including a significant investment in electrification programmes, as part of the overall UK target to deliver net zero by 2050. Of the £24bn committed over a five-year period to England's strategic road network, £11.9bn of this funding is ringfenced for operations, maintenance and renewals which gives Renew a unique advantage from which it has continued to benefit. With pressure on public expenditure as a result of the difficult macroeconomic environment, Renew is seeing an increased focus on maintaining and renewing existing assets instead of major infrastructure enhancement projects. Revenue in the Specialist Building business was broadly flat at £36.0m (HY22: £36.9m), with operating profit £0.5m (HY22: £0.6m). The order book here has strengthened to £110m (HY22: £66.0m), providing good visibility for the second half and into 2024. The net operating cash inflow was £24m and free cash inflow £22.6m, lifting period end net cash to £17.0m after £13.3m was incurred on acquisitions. The overall Group order book at 31 March 2023 has strengthened to £890m (HY22: £771m) underpinned by long-term framework positions. Trading has started well in the second half of the year and the strong forward order book underpins confidence that the full year will be in line with the Board's expectations. The interim dividend was lifted 5.8% to 6.00p with the forecast full year payout of 18.15p reprsenting a yield of approx. 2.5% at the current 6732p share price. This consistent performer, which is a popular stock for IHT planning portfolios, continues to deliver." |
Posted at 17/5/2023 11:51 by rivaldo Here's Shore Capital's full conclusion:"Forecasts We increase our revenue forecast by 6% to £920m and our adjusted operating profit forecast by 3% to bring us in line with the top end of consensus at £62m. Our revenue forecast implies 8.4% growth, which we consider to be conservative given the growth achieved in H1 and the order book. We see very low downside risk to profit forecasts, given the cost-plus nature of the group’s contracts. Due to the increased tax rate, we currently forecast minimal growth in adjusted EPS, but see scope for revenue upgrades. We believe EPS could be ahead of our current number and consensus by a high single-digit percentage. Renew has consistently had a very high level of visibility with c.70% of current year forecast sales usually in the order book. This has helped the group meet or beat consensus profit forecasts in every year since the group came into its current form in 2006. Valuation and recommendation We believe Renew presents an attractive opportunity for investors to benefit from the UK government’s commitment to spend £600bn on infrastructure from 2022 to 2027. Given the nature of Renew’s variable, cost-plus contracts, we believe it is very well placed to pass on inflationary pressures to customers. We also believe it is protected against economic downturns given that its revenue is driven by the public sector. We continue to believe Renew has a lower risk profile than the market perceives, possibly due to associations with peers servicing much larger fixed contracts. We maintain our BUY recommendation and 950p DCF-based fair value (30% upside). As of yesterday's closing price, the shares trade on 12x our conservative FY23F EPS forecast and 7x on an EV/EBITDA basis. We consider this valuation to be anomalously cheap, given the company’s consistent c.30% ROIC, 18% adjusted EPS CAGR since 2011 and current net cash position." |
Posted at 16/5/2023 08:41 by lammylover Solid results, but this share is completely off the radar of majority of investors.Truly bizarre! |
Posted at 12/4/2023 22:23 by wfcreserves @rivaldoYes the placing rewarded the placees who if I recall were a few selected institutions and directors. Shareholders who bought prior to the deal paid a higher price than they needed to. Luckily for those who held the deal worked well and the share price didn’t take too long to recover. I agree that the interims should be good but the market knows that too and the share price is struggling to get back above £7. I still believe that the dividend yield is holding the share price back in a time of inflation and money being tight. From a previous post I guess that you are not an ISA investor? But not everyone will want to sell their shares to crystallise a gain taxed as a capital gain and ISA investors have no need to worry about tax differentials. |
Posted at 05/4/2023 09:02 by rivaldo It's fallen from recent highs, but as harrogate says, RNWH has been a stable sleep-easy investment over the last couple of years whilst the rest of the market has lurched from one thing to another.It'll only take a small uptick in investor sentiment, or an institutional buyer, to re-rate the share price to nearer those 900p-950p targets. Perhaps the upcoming interims will start the process. Shore Capital have a 950p price target, but they also see scope for upgrades from their current 59.3p EPS and £32.9m cash pile forecasts: "We believe EPS could be ahead of our current number and consensus by a high single-digit percentage" More extracts: "Renew^ (RNWH, Buy at 676p) Order book indicates risk to the upside" "Forecasts We maintain our revenue forecast of £870m for FY23F (2.5% growth). We noted following the AGM update on 1 February 2023 that this appeared to be increasingly conservative following 16% order book growth in Q1 to £861m. We continue to believe this given that the order book is set to be reported c.12% ahead of 31 March 2022. We anticipate that the adjusted operating margin will remain at the elevated level of c.6.9% with very low downside risk, given the cost-plus nature of the group’s contracts. Given the increased tax rate, we currently forecast minimal growth in adjusted EPS, but see scope for revenue upgrades. We believe EPS could be ahead of our current number and consensus by a high single-digit percentage. Renew has consistently had a very high level of visibility with c.70% of current year forecast sales usually in the order book. This has helped the group meet or beat consensus profit forecasts in every year since the group came into its current form in 2006." "Valuation and recommendation We believe Renew presents an attractive opportunity for investors to benefit from the UK government’s commitment to spend £600bn on infrastructure from 2022 to 2027. Given the nature of Renew’s variable, cost-plus contracts, we believe it is very well placed to pass on inflationary pressures to customers. We also believe it is protected against economic downturns given that its revenue is driven by the public sector." "We continue to believe Renew has a lower risk profile than the market perceives, possibly due to associations with peers servicing much larger fixed contracts. We maintain our BUY recommendation and 950p DCF-based fair value (40% upside). As of yesterday's closing price, the shares trade on 11x our conservative FY23F EPS forecast and 7x on an EV/EBITDA basis. We consider this valuation to be anomalously cheap, given the company’s consistent c.30% ROIC, 18% adjusted EPS CAGR since 2011 and current net cash position." |
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