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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Senior Plc | SNR | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -3.80 | -2.22% | 167.60 | 16:35:10 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 171.20 | 168.60 | 171.40 | 167.60 | 171.40 |
| Industry Sector |
|---|
| AEROSPACE & DEFENCE |
| Top Posts |
|---|
Posted at 29/2/2024 18:47 by gargoyle2 Next Monday 4th March -- see the comapny's website:www.seniorplc.com/in |
Posted at 25/8/2022 08:56 by medieval blacksmith "Megitt, ultra etc all got buyouts and accepted giving holders a nice return."Short term profits and then what? Less long-term investments to choose from. Listen, Meggitt and Ultra are bought because the PE mob etc.. see the long-term benefits. It is a shame that the general community of amateur investors can't see past a small profit that'll but them a holiday or a new kitchen refit. |
Posted at 25/8/2022 08:35 by bldm I bought this in the 30s when it crashed. Sold it for 149. My worry is the management who rejected an offer of 200 I believe only to linger around 120. Surely, it was in the interest of investors to accept the offer or vote on it at least? Megitt, ultra etc all got buyouts and accepted giving holders a nice return. |
Posted at 30/6/2022 09:11 by roguetraderuk mro strength has been puzzling since its big investor day. its almost as if the mkt had no idea where it is going to earn its money. im fully out of it for now but may take a small bite once again at the gap fill |
Posted at 01/11/2021 11:36 by medieval blacksmith Sorry, perhaps a little aggressive.Let the share drift down. Long-term investors can then pick it up for better price. I will. Sadly, we already have lost Cobham, GKN, and stand to lose Meggitt and Ultra Electronics. We don't want to lose more good quality engineers. |
Posted at 18/8/2021 15:48 by lindowcross Credit: "The Times" today.Senior: Aerospace sector waiting for take-off Emma Powell Wednesday August 18 2021, 12.01am, The Times Injured prey are easier pickings, but Senior had more bite than its private equity bidder had expected. With the shares retaining much of the gains made since Lone Star’s fifth and final offer in June, investors seem to think that another takeover attempt could be coming. Who could blame them? British defence and aerospace companies are gathering a scarcity value. Weaker valuations post-Covid have been one lure for bidders. Offers that have materialised in the sector since 2019 have been made at an average discount of 13 per cent against the shares’ all-time high, according to Peel Hunt, the broker. On that basis, Lone Star’s top 200p-a-share offer for Senior, which specialises in making ducts and valves that help to control fuel consumption, looks the most stingy, at 39 per cent below the shares’ 2015 level. But that was when the engineering group was generating a return on capital employed of more than 15 per cent, exceeding even a 2019 level that was hurt by the grounding of the Boeing 737 Max, to which it was a supplier. Potential bidders are justified in not being as generous as they were for peers. Senior traditionally has delivered lower operating margins than its competitors, which stems from lower aftermarket sales activity than rivals such as Meggitt, as well as less exposure to the defence industry. The magnitude of the decline in demand from the aerospace industry means that analysts don’t expect ebitda — adjusted earnings before interest, taxes, depreciation and amortisation — to recover to 2019 levels until 2025. That also means that at an enterprise value of ten times forecast ebitda for 2022, the shares’ valuation is about the highest it’s been since 2013. Management could have a harder job in bartering up any further offers closer into line with its peak value. That’s not to say that Senior has not made strides in rebuilding itself. It’s on course to cut £50 million from operating costs thanks to a restructuring programme. Debt also looks more manageable. Disposals of non-core businesses, including Senior Aerospace Connecticut during the first half of the year, and better free cash generation than had been expected aided an £84 million reduction in net debt to £71 million — two times ebitda — at the end of June. That’s comfortably below a covenant ceiling multiple of three. The group is targeting a return on capital employed of 13.5 per cent in the medium term. Taking costs out, reducing the size of the asset base through disposals and slow recovery in demand for its products will help it to move towards this. However, the pandemic caused airlines to cut capacity, retire older aircraft and look to defer deliveries of new ones. Airbus and Boeing have said that production of single-aisle aircraft will pick up from the end of this year, but a slower recovery in international travel, which typically uses wide-body aircraft, is expected to take longer. Production volumes for the civil aerospace business, the largest contributor to revenue, are expected to be lower this year than 2020. Demand from power energy markets, where 16 per cent of group revenue was derived in the first half, is not expected to recover until the end of this year at the earliest. New technologies, where Senior owns the intellectual property, are one avenue that management hopes will increase operating margins. Lone Star’s bid was a “wake-up call to the market”, Jolyon Wellington, of Peel Hunt, thinks and is one reason that some of the heat remains in the share price. A competitor with the ability to strip out manufacturing costs could achieve £50 million in synergies, he reckons, which could mean that an offer above 300p a share is affordable. The private equity firm would be allowed to come back for another go in December, but there’s a chance someone could beat it to the punch. ADVICE Hold WHY The shares look fully valued against a slow recovery in profits |
Posted at 05/7/2021 16:34 by ny boy Investors backing a strong board who are not going to run to the hills with a pathetic offer sub 200pStrong hold, awaiting more bidders this year |
Posted at 23/6/2021 07:37 by lindowcross From Alastair Osborne in The Times today,Anti-buyout blues "Proof, anyway, it’s not just Melrose banking on the aerospace market taking off again. The Senior board is so convinced, it’s rebuffed a “fifth and final” mooted cash offer from the private equity outfit Lone Star — at 200p a share, worth £839 million. The upshot? Chairman Ian King and chief executive David Squires now have a share price of 149p, down 10 per cent and just below Lone Star’s opening salvo of 150p. The duo have lots to prove. But they ran the numbers, canvassed investors and decided Lone Star’s bid was too low, “opportunistic |
Posted at 22/6/2021 09:21 by gargoyle2 You would have thought that management would already be fully aware of the views of its leading investors. |
Posted at 22/6/2021 09:03 by knowing (Sharecast News) - Senior shares fell after Bloomberg reported it was preparing to reject the latest bid proposal from Lone Star Funds as too low.The US private equity firm said on Monday it had made a fifth and final approach to Senior worth 200p a share in cash. The proposal valued the engineering group at about £839m. Bloomberg said Senior could announce as early as Tuesday that it had rejected the approach. Discussions are continuing and Senior could change its mind based on discussions with its leading investors, Bloomberg said. Lone Star said on Monday the latest proposal was its final offer and would not be increased unless a rival bidder emerges. Senior has rejected four previous bids from the firm, including an offer of 185p a share earlier in June. |
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