RSM Tenon Share Discussion Threads

[goldibucks] 06/9/2009 13:17

6 key positives here;

1) Trading on a relatively modest PER and EV/EBITDA of 9 for the current year to 30 June 2009.
2) Still growing in spite of the recession. EPS was up 12% to 2.46p for the 6m to 31 December 2008.
3) 26% of revenue is Recovery related providing counter-cyclical protection. Recovery revenue was up 43% to £19.3m in the 6m to 31 December.
4) Company reported on 14 July that full year results out on 16 September will be in line with market forecasts so no nasty surprises in the pipeline.
5) Dividend is about 4 times covered, they had £19m of unutilised debt facilities at 31 December 2008, principal banking arrangement run to November 2012.
6) Share price is up about 20% year to date, the low of high 30s provides support in worst case market scenario. Has traded in the 40p-50p range for most of the last year in spite of market sentiment and company fundamentals improving.

Based on the above, difficult to see how analysts won't rate this a Buy on 16 September. Goldibucks expects Tenon price to Saw to 60p.

[empirestate] 29/8/2009 00:23

am holding to the next statement on 16/9, reckon it could see a rerating and would be looking for 70p

[5teady eddie] 27/8/2009 15:30

Think this could +50p soon???

[empirestate] 25/8/2009 21:20

keybox, looks like there was a taker for a sellers stock today which probably released the pressure on the sp, will buy first thing tomorrow as a flurry of buys should move the share price quickly now

[keybox] 25/8/2009 12:05

Anyone know what's happening here?

[smokyjoe] 27/7/2009 16:26

what on earth can one read into todays trades ?

buys 10,923 sells 930,467 and the share price rises 2p to close at 47p.

its days like these i scratch my head in bewilderment.

not complaining though.

[bossman1978] 17/7/2009 13:06

Nice to see some action with this share. The share price was drifting before the good news. Lets push for 60p....after that trading update.

[jeff h] 14/7/2009 18:02

Very quiet board given today's very decent Trading Update.

FinnCap say Buy as do Daniel Stewart with a 75p price target.

IC view the update favourably...they have a write up this Friday.

[romi2nikki1] 01/4/2009 20:35

Cant see any change in broker forecasts, whilst the one of the brokers covering VTS as cut quite recently. Good liquidity anyway, and massive buy post close.

[bossman1978] 01/4/2009 15:41

What's the reason for the drop over the last week and a large drop today. Maybe the MM's are trying to attract some new investment!!!

[dealit] 17/3/2009 17:09

Not long to wait now for results. Feel the only reason for the share price drop in the last 2 days would be the mm's filling an order. That said this is a young company and we can only take heart from trading statements which hopefully are true.

[bossman1978] 17/3/2009 11:18

Any reason for the large drop today?

[santangello] 20/2/2009 14:57

MM movement looks like a buy order being filled.
Anyone concur?

[santangello] 18/2/2009 13:16

Do I detect a little seller of 5k lots in the background?

[egoi] 26/1/2009 11:34

VTS offer more diversity, not surprised TNO have now hit the buffers; succession of warnings now likely I suspect from TNO.

[jeff h] 26/1/2009 08:34

Job cuts:-

[santangello] 16/1/2009 07:04

Chief Executive, Andy Raynor said:


"Tenon continues to thrive by providing services that are relevant to all
economic circumstances, that are in demand and that are of high value. This is a
firm base from which to make further progress."


Sounds encouraging to me...............

[jeff h] 15/1/2009 19:20

Interesting bit of news:-

Daniel Stewart reiterated its 'buy' stance and 75p price target for shares in Tenon (TNO) ahead of the firm's pre-close statement, due on Friday. "We would expect it to contain encouraging news re. trading performance, particularly in the Business Recovery division," said the broker. "For 2008 this division reported a 61% increase in revenues and accounted for 19% of total group revenues, we are expecting this to increase to 26% in 2009," it added. The broker said it expects reduced rates of growth in business tax and advisory this year, while corporate finance is (unsurprisingly) expected to do much worse. "We shall [also] be looking for encouraging news on the debt position and tight management of cash." Net debt stood at 9.1 million pounds at the end of 2008. Tenon shares moved 0.25p ahead to 43.75p.

...all will be revealed tomorrow then!

[still waiting] 04/1/2009 09:54

plenty for the TNO boys to do:-

[lithiun] 03/1/2009 09:10

Only 40% of there business is insolvency of which the rest is accountancy and that part of the business is suffering.
As I said before was told there have been pay freezes and bad news to come.
It all depends on the quality of there IP work to date.

[still waiting] 02/1/2009 21:14

well they marched the share price down to let him in, now it's time for the climb back.

with TNO's heavy exposure to insolvency the initial rates for an appointment are on the up.

[santangello] 02/1/2009 19:40

RNS soon ???

[still waiting] 02/1/2009 18:29

Bob Morton arranging something in the background?