Severfield Share Discussion Threads

[cc2014] 29/7/2016 09:00

They like this today. Price moving up again. Nice.

[rivaldo] 28/7/2016 15:45

Indeed - still creeping up, with the bid price now 51.5p.

Lots of mileage imo given past ratings, asset backing etc.

[luckymouse] 28/7/2016 09:55

going for it

[cc2014] 28/7/2016 09:42

I think you are likely correct Rvialdo. Not only are we above 50p but there is alot of volume on the buy side at 50p including CFEQ as MM.

I await with anticipation. I'm sure it will be a slow slog upwards but I'm feeling reasonably confident right now.

[rivaldo] 28/7/2016 08:31

The bid price has now moved up to 51p - first time for a while. Is the seller now cleared? The big trades of 5m+ shares yesterday at 50p may just have seen the end of the overhang.

[cc2014] 26/7/2016 13:50

Nearly all the trades over the last couple of days are now going through 50.25+ but it isn't budging L2 suggesting to me there is a seller in the background who's order is currently being worked.

Eventually they will run out - just wonder when

[rivaldo] 22/7/2016 13:42

Today's 100k share purchase is unrelated to those earlier transactions, which are perfectly logical.

The two directors had just had large tranches of shares vesting to them under SFR's LTIP and would have been subject to equally large and immediate tax charges on the awards (I suspect the difference between the market value and the nil cost). They therefore sold only enough of those shares vesting to cover the tax charges - they retained the rest, which is a sign of confidence in SFR's prospects in itself.

[ashbox] 22/7/2016 13:41

They only sold part of their award to meet the tax liability but retained a significant number....

[bend1pa] 22/7/2016 13:34

Two other directors sold similar amounts at rock bottom prices on the same day, 8th July, which seems a strange thing to have done given the company optimism and the chairman's share purchase today. The market still very much has a downer on SFR, and so far doesn't believe the recovery story.

[cc2014] 22/7/2016 12:17

If he believes then I believe. Looks like it's off the bottom now.

[rivaldo] 22/7/2016 12:02

Nice - the Chairman's just bought another 100,000 shares at 49.25p:

[meijiman] 21/7/2016 17:19

Hopefully it wont have bolts falling off it!

[rivaldo] 21/7/2016 15:15

News of the Ordsall Chord bridge being constructed by SFR:



"At the heart of the project is the construction of the world’s first ‘squashed tennis racket style’ railway bridge, linking Piccadilly and Victoria stations. This bridge will be the UK’s first ‘network arch’ – a low curve with a ‘tennis racket’ style lattice.

The bridge is currently being constructed by steel firm Severfield in Bolton, then lifted by crane over the River Irwell."

[rivaldo] 20/7/2016 08:55

New Edison report out:



They reiterate the forecasts of 4.72p EPS and 5.78p EPS, with 1.7p and 1.9p dividends, and conclude:

"The achieved FY16 margin was as an ambitious target when set in 2013, but is now seen as a staging post to the new aim of doubling PBT by FY20. Our revised estimates track towards this. With double-digit earnings progress expected (and a PEG below 1x), plus a rising dividend profile, Severfield now clearly offers both income and capital growth attractions."

[bend1pa] 19/7/2016 13:41

SFR have been in the doldrums for a very long time having massively underperformed the FTSE All Share over 10 years. One can hope that this is the beginning of the end of their long period of woe.

For the first time in years I've decided to buy a few having done well out of them during the 00s. I've been following them since with disbelief. SFR are looking like they may be at the start of a genuine recovery phase, but I won't be holding my breath. It will take a lot of patience but I think it may just pay off.

[rivaldo] 19/7/2016 09:13

Interesting - 4.5m shares have just gone through. Perhaps clearance of an overhang.

I bought some of these recently for the first time, having watched it for years and years. It's always been very overvalued imho, but now as a market leader it finally seems pretty undervalued, with extremely large upside if it can continue to thrive and recover as it seems to be doing.

In particular, prospects for this year seem very solid given the high order books and visibility going forward.

Forecasts are for 4.72p EPS this year and 5.78p EPS next year - with 1.7p and 1.9p dividends too, so an excellent divi yield as well.

[napoleon 14th] 21/6/2016 13:36

Attractive; I was looking at SFR last week.
I'll wait 'till Friday!

[waldron] 19/6/2016 17:35

The European Union's need to set out a new vision for the future if Britain votes to leave the bloc will weigh on the euro and could increase upward pressure on the Swiss franc, UBS chairman Axel Weber said on Sunday.

"If Britain should leave (the EU), the next pending question is what implication does that have on the further development of the EU," the former top official at the Bundesbank said on SRF 1 television.

A new strategy would have to be developed. "This will weigh on the euro."
PUBLICITÉ

"As a traditional save haven in Europe, the upward pressure on the Swiss franc could increase if the British pound and the euro are plagued with problems," Weber said.

(Reporting by Kirsti Knolle)

[luckymouse] 19/6/2016 10:55

free stock charts from uk.advfn.com

[waldron] 16/6/2016 15:21

(ShareCast News) - Sterling ticked an ace higher against the Swiss franc as that country's central bank left its key interest rate unchanged today and said it intended to intervene in the event of turbulence after Britain's vote on European Union membership.
The bank's president, Thomas Jordan, said he did not expect Britain to quit the EU on 23 June, adding that he did not consider a so-called Brexit vote as the most probable outcome, even though UK polls suggest the in-out race is closely contested.

"This (Brexit) is an event that is possible, and the probability increased in the last few days, but the base scenario that we have does not include the Brexit," Jordan told reporters in Bern, including Bloomberg.

He added that turbulence could arise after the vote, in which case Swiss National Bank intended to stabilise the market. It left its benchmark rate at 0.75%, as forecast.

The Swiss franc is perceived as a safe-haven play by currency traders spooked by the prospect that UK might quit the EU.

At about 13:30 BST, sterling was up 0.15% at 1.3676 Swiss francs, but this minor rise ran overall against the grain of a month-and-a-half long and 5.9% slide against the defensive unit. On 30 May, sterling was at 1.4527 Swiss francs.

SNB also underlined its willingness to undertake foreign exchange-market interventions if it believed these were needed, given the franc appeared significantly overvalued.

"Fundamentally, we have room to manoeuvre on these two instruments," said Jordan, quoted by the news agency.

"In a first phase, should the situation arise, it will be about stepping in to markets in a stabilising manner to prevent exaggerations."

However, separately, Rabobank said on 10 June that demand for safe-haven assets would remain firm and that the franc would continued to be well underpinned.

Rabobank expected UK to remain within the EU, but also noted the significant risks to this view. Either way, the franc would perform well, it said.

At 13:48 BST, the euro was down 0.1% to 1.08150 Swiss francs. On 3 June it was at 1.10925 francs.

"On a Brexit, we would expect EUR/CHF to fall hard back towards the 1.05 (francs) level initially. On a clear Remain vote EUR/CHF should be able to drift back towards 1.10," it said.

The franc's safe-haven appeal was hard to beat -- Switzerland was running a healthy current-account surplus and a budget deficit that was close to being balanced.

"That said, for a long time safe haven demand for the CHF has been the thorn in the side of both the Swiss National Bank and the Swiss economy," Rabobank argued.

SNB intended to follow market developments closely on a 24-hour basis, especially around the 23 June vote by UK.

[steelwatch100] 16/6/2016 11:15

Good solid set of results, (with India being a bit of a side show, in my opinion)

Now back to basics CASH

Bank balance increased in year +12.3m

After spending 16m (see below)

Therefore total cash generated 28.3m

Decker 4m
Cap investment 5m
Finishing bolt remedials say 4m.(1m spent last year)
Int dividend 1.5m
Tax approx 1.5m

With underlying profit stated at 13.2m, they would appear to be in a good solid place going forward.

They may be well on their way already to their aim of doubling the underlying profit over the next 4 years.

[roddiemac2] 16/6/2016 10:55

owenski ,

You are stating the obvious. I don`t disagree with you. I will try to ascertain how much longer management are prepared to wait for the JV to become successful.