Share Name Share Symbol Market Type Share ISIN Share Description
Somero Enterprise Inc. LSE:SOM London Ordinary Share COM STK USD0.001 (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  7.50 2.65% 290.00 40,022 15:08:21
Bid Price Offer Price High Price Low Price Open Price
285.00 295.00 290.00 280.00 282.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Industrial Engineering 67.34 20.39 27.90 10.5 163
Last Trade Time Trade Type Trade Size Trade Price Currency
17:07:26 O 1,000 290.00 GBX

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Date Time Title Posts
27/11/202008:55SOMERO - laser guided construction equipment2,261
24/9/201523:12SOMERO - laser guided construction equipment14
10/1/201418:33Somero - Laser-guided construction equipment92
26/2/201307:28somero sales up 47%-
09/1/200912:39Time to buy SOM and tuck away ????15

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Somero Enterprise Daily Update: Somero Enterprise Inc. is listed in the Industrial Engineering sector of the London Stock Exchange with ticker SOM. The last closing price for Somero Enterprise was 282.50p.
Somero Enterprise Inc. has a 4 week average price of 231p and a 12 week average price of 207.50p.
The 1 year high share price is 304p while the 1 year low share price is currently 145p.
There are currently 56,219,372 shares in issue and the average daily traded volume is 41,560 shares. The market capitalisation of Somero Enterprise Inc. is £163,036,178.80.
fredfishcake: Mentioned in Shares mag today in their 'great ideas' section. "Somero credited a strong US market, good contributions from new products and higher revenues from its SkyScreed family of products following an easing of job-site restrictions. Cash generation has been good thanks to effective working capital management and customers paying on time. Broker FinnCap raised its adjusted pre-tax profit forecast for 2020 by 11% to $19.6 million and implied Somero could be more generous with its dividends thanks to higher cash, upgrading its total dividend estimate for the year to 21.8 cents. It also raised its share price target from 255p to 285p based on a fair value price to earnings ratio of 14 for the 2020 financial year. SHARES SAYS:  It’s great to see an improvement in Somero’s trading and the latest update confirms our original premise that this is a solid business." Can't say as I'm wildly impressed by Finncap's estimate!
fredfishcake: I'd rather they either did a real share back, or didn't. As it is they've bought back trivial volumes - the market cap is £163 million and they're planning on buying back up to $1m. From the latest buy back notice, they've bought back about 0.3% of the shares: "Highest price paid per Ordinary Share: 237.5 pence Pursuant to the above transactions, the Company advises that its issued share capital is 56,425,598 Ordinary Shares, with 206,226 Ordinary Shares held in treasury. Consequently, the total voting rights of the Company are 56,219,372." I can't help feeling that they're wasting their time with such volumes....
jon123: share buy backs are just a waste of capital they do naff all for the share price in the long run and shows a lack of imagination from the management, oh yeah they do benefit from increased numbers that go towards their bonus scheme
nchanning: Mr Market on SOM since the financial crisis :'I see the huge margins , incredible returns on capital , large cash pile , huge dividends , expanding product range and cheap valuation but this is a highly cyclical company . In the last recession there were huge losses and the company nearly went bust so I will assign a very lowly multiple despite financial metrics more like a tech company than a building supplies one . 'Yet the company has come through this downturn almost unscathed and still highly profitable . Would not be surprised to see this rerate to closer to 15x earnings in a good year ex. Cash which leaves huge upside on the table
arregius: And great price somero has been buying back shares. Good move!!
pugugly: Positive momentum heading towards year end, exceeding revised guidance Excellent update - PLUS once Biden take over from Trump the boost to US infrastructure investment should (hopefully) increase opportunites. Happy to continue holding.
ali47fish: it did now- does the us market affect the price of Som?
gnome3: Very impressive navigation of the covid disruption. That's a 9% yield payable shortly and I can't see how the share price can continue to offer that kind of income going forward. Very happy to hold with a great deal to look forward to.
pireric: Pretty positive conference call on the medium-term opportunities. Notes below - No employees have contracted COVID-19 (that they know of) - Large # of employees working from home outside of those manufacturing - Pipeline for last few months has been slow because of shutdowns around COVID. In numerous countries it was because construction wasn’t allowed to proceed at all. Pipeline starting to pick up now as construction activity starts its journey to get back to normal - China market: impacted much earlier. Started to see normal activity ahead of the US but not completely normalised - Dividend: Management very confident in Somero’s cash generation. Dividend postponement is precautionary like many other businesses have done. “Look forward to settling those [dividend] liabilities in the future when activity normalises” or words very similar to that. - Fiscal stimulus: Not yet in place in the infrastructure piece. Not direct beneficiary in nature as not screeding highways/runways etc. but get an adjacent benefit - New Product Development: o Skyscreed: Very large market opportunity. Have not progressed this during shutdown until last weekend. Lots of interest but still proof of concept and so need to demonstrate the solution onsite. Construction sites want to save labour and labour is very expensive on high rise buildings due to insurance costs – Skyscreed solves this pain point. Very positive about the opportunity. o SRS-4. Small boomscreed, lightweight. Designed specifically to address transport requirements in Europe which are smaller than in the US. Sold machines starting last month and very positive on the opportunity. - M&A – Continue to look for opportunities but smaller. Line Dragon was the last one they did - How have contractor customers weathered the storm? o Don’t get direct feedback from them but do via leasing agencies who deal with their payments. Have not heard negative things and given the health of contractors through the prior growth period, would be surprised if there are major financial troubles. The crisis has only been a few months as well not a few years. - Somero have 4000+ customer relationships globally – where the customer has had a commercial transaction with Somero. - Any supply chain bottlenecks? Not at all - Warehousing opportunity? Online shopping has been driving a lot of warehouse expansion in prior years and can see the growth in online as driving this and the demand for flat floors. Expect continued growth and expansion here in the future. - Competition? o First saw competition all the way back in 1989 from a man in Holland who reverse engineerd a large line boom screed. Have had competitors over the lifetime of the business but Somero still has 99% market share today. o People who have copied are “machine builders”. They try to reverse engineer and sell a close to Somero proposition but X% cheaper. Misses the point of SOM’s customers. SOM’s customers when they buy a laser screed are getting 80-90% of revenues from 1 piece of equipment. They want detailed tuition, details around engineering and architect requirements, and need high quality support. If concrete placement goes wrong, you have a 1 hour window to fix it before the concrete sets. Somero can offer 24/7 access to a certified technician inside 10 mins. And can provide spare parts out of existing stocks and not on 1-2 week turnaround times others may offer.
eezymunny: SOM revenue in 2007 was $66m, 2008 was $52m, 2009 $24m, 2010 $21m. Underlying profits collapsed from $10.7m to LOSSES in 2009, 2010 and 2011. ie this business fared extremely poorly in the last recession. It's cyclical. Lots of cyclicals have been decimated recently in the US. ie US market sensing possibility of a recession in the reasonably near future (1-2 years). Last recession SOM share price collapsed from c. 160p to c. 11p So people "amazed" at the fall need to consider this in their valuation IMO. The company has kept a very sizeable cash balance (very wise) so that it can weather the next economic storm when it comes, but the possibility of SOM share price halving or worse from here is IMO very real. Of course there may not be a recession ever again :)!!!
Somero Enterprise share price data is direct from the London Stock Exchange
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