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SNWS Smiths News Plc

48.00
-0.20 (-0.41%)
Last Updated: 11:14:01
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Smiths News Plc LSE:SNWS London Ordinary Share GB00B17WCR61 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.20 -0.41% 48.00 47.50 48.50 48.00 48.00 48.00 29,865 11:14:01
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Books & Newspapers-wholesale 1.09B 25.1M 0.1013 4.74 118.9M
Smiths News Plc is listed in the Books & Newspapers-wholesale sector of the London Stock Exchange with ticker SNWS. The last closing price for Smiths News was 48.20p. Over the last year, Smiths News shares have traded in a share price range of 40.00p to 55.80p.

Smiths News currently has 247,700,000 shares in issue. The market capitalisation of Smiths News is £118.90 million. Smiths News has a price to earnings ratio (PE ratio) of 4.74.

Smiths News Share Discussion Threads

Showing 976 to 1000 of 1000 messages
Chat Pages: 40  39  38  37  36  35  34  33  32  31  30  29  Older
DateSubjectAuthorDiscuss
14/3/2024
16:04
Yes, always interesting to see ones own thoughts confirmed. However , there's nothing new there and we've been talking about this story on here for some time. What is required is a catalyst (announcement that the covenant has gone) and some big buyers. Open ended Equity Income trusts are still forced sellers as people redeem units and take term deposits at 5% +. That will turn around eventually
makinbuks
14/3/2024
11:11
Thanks Dave
norbert colon
14/3/2024
10:23
85p seems a stretch, but 65 ought to be well within reach.
1knocker
14/3/2024
10:13
Thanks Dave.
santangello
14/3/2024
09:42
Canaccord Genuity view Smiths News (SNWS) is the UK’s largest wholesaler of newspapers and magazines, with a c.55% share of a c.£2bn market. After a challenging period in the wake of some mismanaged acquisitions under previous management, the new leadership team has streamlined the Group to focus on the core distribution of magazines and newspapers, which is highly cash generative with good visibility around contracts (74% of current revenues secured until 2029/30). Whilst underlying markets face structural decline given generational and channel shifts in news consumption, management has established a strong track record of cost efficiencies to offset a declining top line and generate robust levels of profitability. In addition, a number of new growth initiatives, including Smiths News Recycle, which utilise and leverage the Group’s existing facilities and capabilities, have the potential to drive future profit growth. Strong FCF generation (c.£20m-£25m p.a.) has seen the Group deleverage rapidly and an upcoming refinancing could see an annual dividend payout cap of £10m removed, paving the way for potentially higher dividend payments. With minimal leverage and the Group forecast to move into a net cash position, we see scope for additional cash returns to shareholders. The current valuation is highly attractive, with a PER of under 5x, a secure dividend yielding 9% and a FCF yield of 21%. We initiate coverage with a BUY recommendation and 85p target price. Secured contracts provide visibility SNWS delivers c.16m newspapers and c.5m magazines each week to c.23k retailers from 35 regional depots across England and Wales. The Group has established strong relationships with all major national and regional publishers. The long-term nature of contracts, along with the dedicated service territories, provide high levels of visibility in terms of revenues and cash flows, as well as allowing the Group to plan its capital allocation strategy clearly. The Group has renewed agreements representing 74% of its current newspaper and magazine revenues through to 2029/30. Cost savings and growth initiatives SNWS has established a solid track record of delivering cost savings to broadly offset the structural decline in revenues. Further cost savings are planned over the coming years to deliver robust levels of profitability. Management has also identified a number of new opportunities which leverage the Group’s existing infrastructure and capabilities and have the potential to drive future profit growth. Smiths News Recycle is the most advanced of these, and offers collection of plastic and cardboard waste on a weekly paid for basis using the Group’s existing delivery runs and recycling facilities. Robust profitability and strong FCF generation Despite a declining topline the Group has delivered robust and stable levels of profitability in recent years. Strong FCF generation has seen the Group deleverage rapidly from 2.0x in FY20 to 0.1x in FY23, and an upcoming refinancing could see a lifting of the current £10m dividend cap, paving the way for potentially higher normal dividend payments based on cover reverting to the previously stated 2x policy. With a strong balance sheet, future FCF generation of c.£25m-£26m pa, limited capex requirements (c.£4m pa) and healthy annual dividends, the Group is set to build a healthy cash balance over the coming years. If management were to target a leverage ratio of 0.5x, we see scope for c.£38m to be returned to shareholders over the next 3 years. Valuation and recommendation SNWS trades on 4.8x Aug’24E PER with a dividend yield of 8.7% and an adj. FCF yield of 21%. We initiate coverage with a BUY recommendation and 85p target price, based on a cal’24E PER of c.8x, div yield of c.5% and FCF yield of c.12%, implying 80% upside.
davebowler
29/2/2024
18:36
It’s a punchy estimate of what Board could manage. I expect price would hold 50p ex 15p of capital returns.
nicholasblake
29/2/2024
18:02
That's nothing new then. The board has already hinted that dividends will increase once the bank restraints are out of the way. A 20% increase is on the cards.
lord gnome
29/2/2024
17:45
The £38m is on top of current div.
nicholasblake
29/2/2024
16:52
fft - I read the GBP38m as being in the form of specials or increased divis in excess of the current planned divi payout but agreed that without seeing the note it's guesswork.
norbert colon
29/2/2024
16:39
38m over 3 years is no great change on the current 10m a year that is the current dividend cap.A 20% increase on where we are now. Bit surprising really. Ok, they have more tax to pay, but I don't think 5p a year dividend is going to propel SNWS to camnacord target of 85p.What else did camnacord say to justify 85p
fft
29/2/2024
13:11
GBP 38m = circa 15p / share
norbert colon
29/2/2024
12:45
Scope for £38m to be returned to shareholders over next three years, post refi.
nicholasblake
29/2/2024
12:25
Can anyone share the Canaccord rationale or summary?
davidosh
29/2/2024
11:27
That would be nice - but I won't hold my breath.
lord gnome
29/2/2024
11:18
Canaccord has initiated with target of 85!
nicholasblake
23/2/2024
16:03
Correct it's just HY end now but results not until May.
norbert colon
23/2/2024
15:56
No i think they are in May and this is the end of the Trading period. Correct me if i am wrong.
plasybryn
23/2/2024
15:54
1/2 year results on Monday?
plasybryn
08/2/2024
15:11
Yes, HL paid me this am.
laughton
08/2/2024
15:10
Yes got mine via AJ Bell and ii
norbert colon
08/2/2024
14:49
HL have credited mine
aishah
08/2/2024
14:46
I hold SNWS thru HL. , Ive not had the dividend payment yet, has anyone got theirs ?
dicktrade
08/2/2024
13:18
Post 962 :-)
lord gnome
08/2/2024
11:40
I built a holding here between November 2019 and mid 2022 and am up 55%, and have had over a third of my capital outlay back in dividends in just over 4 years since my first purchase. Very gratifying. If the rest of my portfolio had done one quarter as well i would be a very happy bunny!
1knocker
05/2/2024
21:12
A nice divi at that and worth waiting for!
martin44
Chat Pages: 40  39  38  37  36  35  34  33  32  31  30  29  Older

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