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Share Name Share Symbol Market Type Share ISIN Share Description
Steppe Cement Ltd LSE:STCM London Ordinary Share MYA004433001 ORD NPV
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.50p -6.76% 34.50p 32.00p 37.00p - - - 0 07:39:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 48.8 1.4 0.4 73.2 75.56

Steppe Cement Share Discussion Threads

Showing 1551 to 1574 of 1575 messages
Chat Pages: 63  62  61  60  59  58  57  56  55  54  53  52  Older
DateSubjectAuthorDiscuss
22/5/2019
23:09
Ilostthelost, I think you have confused 'profit after tax' and 'operational cash flow'? The difference is largely due to depreciation expense, which goes through the P&L account, but is a non-cash item - the write down of the value of plant and equipment over time. Cash generated was $18.5m, of which $3m spent on dividends, $3m on CAPEX, $9m on debt repayments (including interest) and the rest is reflected in the increase in cash at bank. Profit doesn't automatically/necessarily increase once you stop paying down debt (other than the saving on financing costs - $1.65m for 2018). All else being equal profit should be $1.65m higher annually once the debt is paid off. On a current p/e ratio of around 11.5, I think at 37p. As Matt has pointed out (whilst I was drafting this response) - the value here is in the significant free cash flow generation (and dividends) and also in the relative undervaluation of the plant, which would cost several times market cap to build from new.
king suarez
22/5/2019
22:53
Mkt Cap circa $103m EBITDA $21m Going to pay out $8.34m as a dividend this year They may simply stick to the repayment plan and clear the debt mid-2020, thereby enabling at least same again dividend for FY19 What price a debt-free, dry-line cement plant with a healthy market share, growing exports & throwing off cash at this rate? Go to be at least $250m. Forecasts are 6c divi in 2019 & 7c in 2020. House broker has already hilited: "...commitment of the key shareholders to distribute all excess cash as dividends." There is clear linkage between most of the main shareholders on the register. I'm comfortable the game-plan is to keep collecting the dividends and await athe inevitable offer for the whole business. The cement sector is notorious for consolidation following periods of new-builds. Whenever the offer comes, its certainly going to be for more than current price. Confident it is one of the existing major holders that has been taking on more from SEB .. they wont want AN Other coming in at this level to spoil their party. Follow the informed money ,, tuck these into an ISA/SIPP and await developments & dividends, imo.
mattjos
22/5/2019
22:23
I'm trying to get a grip of the valuation here. So $9 million debt Paid off and $9 million profit. Assuming efficiency and improvements work and add 10% that would add $2,000,000 So potentially looking at debt free by year end and then making approx $20,000,000 /$30M Npat for full year 2021. What value would the market give stcm then? A multiple of 10/15? Giving a market cap of between $ 200,000,000,- $450,000,000 Any input here would be appreciated. I have made a small investment. Due to STCM paying a large divi while paying of debt and making a profit.. I am unsure of what a fair valuation would be.
ilostthelot
22/5/2019
19:55
I managed to get in yesterday. Was hoping to buy a few more next week before it started to move northwards. Still at least i got some before it moved ! :)
jeanesy
22/5/2019
19:18
Yup think most of us have been in for a while
mr roper
22/5/2019
18:17
Wan was in at 25p I believe so his yield is bigger than my baby's arm
oakey1
22/5/2019
16:39
Pretty good day that. 7% with 8% yield to come
mr roper
22/5/2019
14:22
IC out tomorrow. If it reports on STCM, it will certainly reach a much wider audience of investors. A 3p div and a 29.1% stake holder, should attract a lot of readers attention.
azalea
22/5/2019
14:11
I am part responsible for the rise I must confess. I bought £1346 worth yesterday in two tranches.
mach100
22/5/2019
13:55
nothing on offer = no trades...MM need to create a market, not stifle it
sportbilly1976
22/5/2019
13:14
More than 2 posts in a day here, must be a few more hearing how undervalued stcm is.
celeritas
22/5/2019
12:12
Buy is 37.29 on IG
fozzie
22/5/2019
11:56
Still nada online
mattjos
22/5/2019
11:52
We are off 3v1
jailbird
22/5/2019
11:34
Currently cannot buy any nowFill or kill only now if u can get them
jailbird
22/5/2019
11:14
once the Mm on the offer moves, we could see a reasonable move here as I'd be surprised if other MM's have stock supply to satisfy any reasonable buying
sportbilly1976
22/5/2019
11:02
You can sells loads above bid now
jailbird
22/5/2019
10:58
Some reasonable size trades going through
mr roper
22/5/2019
10:37
This is where the rns system seems illogical... SEB must have sold by now (since their previous rns) more than the 0.94% to take them to under 4% However, my understanding is that if the order to their brokers was to sell 6mln of their 10.8mln holding (passing through multiple %-ages) then the market only needs to be informed once the order has been completed (i.e. when all 6mln are sold and the rns then prob would be to confirm holding less than notifiable 3% threshold)
sportbilly1976
22/5/2019
10:34
Full offer paid now
mr roper
22/5/2019
09:33
Liquidity has returned on bid againwhich is a good sign Buying price also moved upSeems we are nearing the end of overhang
jailbird
21/5/2019
21:13
don't know but, very doubt there will be any left at this price by the ex-date, for very obvious reasons
mattjos
21/5/2019
20:55
How many more are there left to sell do people think ?
jeanesy
21/5/2019
15:46
As Mattjos says....just keep picking up stock....the SEB holding will clear soon enough....
goldrush
Chat Pages: 63  62  61  60  59  58  57  56  55  54  53  52  Older
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