Rws Share Discussion Threads

[redartbmud] 14/2/2018 11:56

jeffian

With respect, C'r'apita is a bad example.
Their share service department reputation is appalling, and the level of consistent incompetence is very difficult to match elsewhere. I cannot tell you the number of spats that I have had with them, and the fact that people that I have spoken to have little or no knowledge of what they are supposed to be doing.
Are any other parts of the business any better?
Hmm....

[jeffian] 14/2/2018 11:53

Thanks, Linhur.

[linhur] 14/2/2018 11:41

Good positive vibe at AGM.
This year will be a year of consolidation with cost savings being made from integration of the acquisitions and reorganisation of Life Sciences.
RWS will be watching bottom line closely in 2018.
Moravia offers opportunities in China particularly with large global companies and translation of their strategies at local level.
2018 will mostly see organic growth with some small acquisitions provided they fit the criteria.These criteria were set out at 2015 with RWS 5 year view to 2020.
Life Sciences in No 2 slot in USA in the areas in which they operate. No 1 Company may be taken private as runner up to RWS in recent M&A activity with RWS moving very efficiently and effectively to secure targets.

[jeffian] 14/2/2018 10:17

Re: #737,
True, but that can't go on forever. I always take the line that at some point, when a period of above-average growth is passed, the PER will revert to market average (around 14-15). There's nothing wrong with buying high PER stocks as long as you understand you are paying today for tomorrow's growth and when that growth slows down you will be running to stand still. The best example was Capita which, on the back of 50%+ per annum revenue growth in the early years of 'outsourcing', was at one time valued at 150x earnings. Sure, earnings did grow but as the PER fell back to more normal level, the share price stagnated for years and then fell. Not saying this specific to RWS - still plenty of growth here IMHO - but just a comment to be wary of high PER's. They don't stay high forever!

[redartbmud] 14/2/2018 10:09

My spies at the AGM were happy with proceedings,
and with the progress, thus far, on the integration
of the new business.

[discodave4] 14/2/2018 09:49

Not when it's been trading with PE's in the 30's.

[jimbowen30] 14/2/2018 09:47

Numis are now forecasting eps of 18.1p and 19.4p for 2018/19. So a PE of 22 for 2019 isn't excessive for a growth company with such a good track record.

[mfhmfh] 13/2/2018 13:23

Post 730 seems to put everything into context IMHO

[mfhmfh] 13/2/2018 12:12

IC says buy

[fbrj] 13/2/2018 11:33

Numis 13 Feb - Add - Target Price 490p (same as before)

[martinthebrave] 13/2/2018 09:59

For what its worth:

Feb 2014 PE 23x EPS Growth 10.3%
Feb 2015 PE 20x EPS Growth 9.3%
Feb 2016 PE 20.3x EPS Growth 20.8%
Feb 2017 PE 27.4x EPS Growth 21.3%
Feb 2018 PE 22.6x EPS Growth 33%

EPS Growth is 12 month rolling from Stockopedia.

Looks attractive on that basis IMO.

[discodave4] 13/2/2018 09:13

Goes with saying with 85% rev $, but "Exposure to the US Dollar is more balanced as the Group has dollar debt and dollar revenues."They also have a very good Euro hedge in place.DD

[phillis] 13/2/2018 09:07

Big $ content in Group revenues (and a lot of $ interest)
RNS says notwithstanding a strong $ forecasts are being met

[alphabeta4] 13/2/2018 09:05

FWIW forward was 26 as of 14/2/17 on central analyst projections for 2018 so on a 13% discount compared to a year ago. (I have a print of an old Morningstar note).

[discodave4] 13/2/2018 08:38

Forward PE 23, PEG 0.8, what's not to like?. The fall in the last month was overdone and went into value territory IMO, hence picked some up at 372. Would not say Q1 fx headwinds equates to a profit warning.DD

[redartbmud] 13/2/2018 08:20

RB

Agreed, sit on your hands time during a period of digestion.

[r ball] 13/2/2018 08:16

Don't think so. What's important is the forward PE. Mild profit warning and share price will tread water for 3-4 months unless there is corporate activity which is unlikely given reference to integration period.

[hatfullofsky] 13/2/2018 08:06

Should we read anything into started well for Q1 v strong start in the first two months.

Closed the spread bet but will keep my holdings

[discodave4] 13/2/2018 08:04

Think you have read the wrong RNS.

[martinthebrave] 13/2/2018 07:27

In Line AGM update today.

US exchange rate headwinds mentioned but these are hardly a surprise.

More importantly:

"The current financial year has started well....."

"the Board is confident of further substantial progress in 2018.....".

As good as we could have hoped for after Q1.

[r ball] 13/2/2018 07:18

Mild profit warning...

[mfhmfh] 07/2/2018 10:37

hopefully a recovery in the share price starting. oversold IMHO. GLA.

[orange1] 07/2/2018 09:31

AGM statement next Tuesday.