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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Smurfit Kappa Group Plc | SKG | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 3,656.00 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 3,656.00 |
| Industry Sector |
|---|
| GENERAL INDUSTRIALS |
| Top Posts |
|---|
Posted at 06/8/2023 19:41 by igoe104 Excellent podcast about SKG. From long-term investor mark atkinson, his podcasts are definitely worth subscribing to. |
Posted at 22/11/2020 13:00 by capercaillie Disappointing that Directors can acquire discounted shares in a placing and retailer investors cannot. |
Posted at 29/5/2018 08:15 by soundbuy Smurfit Kappa investors bet on fresh bid amid revolt riskUS group IP faces June 6th deadline to make binding bid for Irish rival |
Posted at 23/1/2018 09:30 by moorsie2 only 100k shares traded in the first hour and a half so not big volumes so far.This was undervalued and at a significant discount to the other two paper packaging companies in the FTSE 100. Last broker report was a price target of 33 euros. Still only at 30.4 euros this morning So price action is not surprising as investors seek undervalued but good assets. |
Posted at 16/1/2018 15:03 by moorsie2 Results due out three weeks from this Thursday - I expect it to run on to 27 stg / 31 euro valuation. Appears the valuation gap has been understood by the canny investors... |
Posted at 20/9/2017 15:47 by moorsie2 Just look at their sales, ebitda generated, market caps and eps - there is a valuation gap for SKG and that is a big opportunity for investors. |
Posted at 02/8/2017 08:26 by soundbuy The SKG senior management team will host a live webcast, for analysts & institutional investors, at 10.00 BST on 2 August 2017. |
Posted at 11/5/2017 08:21 by ppreston1 MNDI reported disappointing Q1 results today and say full year results will hit by inflationary cost pressures. This highlights the quality of SKG current trading and attractive relative valuation. Wonder if this will create a buying opportunity as investors switch from MNDI into SKG? |
Posted at 28/4/2017 10:29 by moorsie2 Three major brokers with buys and price targets of 24.25 to 24.80 on the shareprice for the next 12 monthsGood entry point now for new investors for a 15%+ return.... 24 Apr 17 Goldman Sachs Buy 2,074.50 2500.00 2425.00 Reiterates 02 Mar 17 Jefferies International Buy 2,074.50 2310.00 2480.00 Upgrades 23 Feb 17 Deutsche Bank Buy 2,074.50 2300.00 2460.00 Retains |
Posted at 03/11/2016 08:19 by moorsie2 6-Eurocent Beat vs. VRP, Operations In-Line – This morning, Smurfit Kappa reported EPS from operations of €0.56, beating our €0.50 estimate by 6-euro cents and outperforming consensus expectations by 3-eurocents. Versus our model, the operating lines combined performed as we expected, with Europe falling 2-eurocents short while the Americas beat by 2-eurocents. All of the overall EPS outperformance in SKG’s third quarter came from the non-operating lines, as lower interest expense, lower corporate expense and a lower tax rate than expected each added 2-eurocents versus our model.OCC Continues to Be Big Story – On the company’s quarterly investor call, OCC price movements accounted for nearly half the questions asked. As a reminder, Europe experienced a spike in OCC costs in September, which the industry tried to raise test linerboard prices on the back of. However, over the last several weeks OCC prices have begun to fall again and the recycled board price hike has withered and basically failed. We believe the recent decline in OCC is normal as we enter the high generation season (aka Christmas). Furthermore, higher prices lead to higher generation levels as it pays to sort OCC from mixed paper. Stepping back, we believe the near-term downward movements in OCC are only temporary and continue to hold on to our belief that OCC prices are headed higher (and potentially significantly higher) in the long term as little-to-no new net virgin board capacity is added to the supply chain and demand for containerboard continues to grow. Little Further Testliner Pricing Seen Through 2017 – Though Smurfit (and the industry) partially blamed moderating OCC costs for the failed European testliner increase, we believe the true driving factor was too-high a level of board inventories in the system combined with new recycled fiber-based containerboard machines coming online. As this new capacity finds its way into the market, we believe the market will, at a minimum, remain balanced at current prices and could become more competitive as producers fight for share. On the other hand, we are slightly more optimistic on kraft (or virgin) board pricing. With US domestic containerboard prices going higher, we believe US export prices have some potential to rise, which has the potential to help lift kraftliner pricing in Europe in 2017. We do note that we don’t model any significant rise in kraftliner pricing in Europe into 2017 at this time. Raising Target €1 as We Roll Numbers – We are not changing our full year estimates, and thus are maintaining our €2.00, €2.15 and €2.40 EPS expectations for 2016, 2017 and 2018, respectively. We are raising our one-year price target to €28 and maintain our Buy rating. However, we continue to question why the stock is trading at such a discount to its peers. On our numbers, SKG continues to trade at a one-turn EV/EBITDA discount to all of its US peers except IP (which we also believe is far too low). Versus its European competitor DS Smith, we calculate a 2-turn EV/EBITDA discount. While Smurfit Kappa does have more debt than most European investors prefer, at a 2.4x leverage ratio, the company’s debt level is not egregious and we would rate it as properly levered given the strong and stable free cash flow generation -- particularly given how cheap debt is versus equity. Though not yet rated a “top pick” due to the fundamental environment in Europe being softer than the US market, the stock is still extremely cheap and we recommend investors continue to build a position in the company. Stock View Looking at Smurfit-Kappa on purely a valuation basis, we come to the conclusion that the stock is attractive, and thus our €28 target price and Buy rating. However, we also believe that the stock could continue to struggle in the near future if macro conditions in Europe soften. On the other hand, we believe the company is making significant headway in improving their margins in the European region and box pricing in the region is likely to head higher as the Euro continues to be weak versus the US Dollar. Furthermore, the company has shown itself as a savvy acquirer and we believe there is potential for the company to grow through acquisitions. Finally, if the company does not grow significantly or lever-up with a significant share buyback, we could see the company taken over, though the probability of such an event is diminishing in our opinion. Should the European region improve, should the company make another acquisition like Orange County or should the company be a target for acquisition themselves, there could be significant upside to our estimates. |
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