Sureserve Share Discussion Threads

[igoe104] 26/3/2020 09:18

Cheers Rivaldo, i have got 3 in that list.

[rivaldo] 26/3/2020 08:24

Mark Watson-Mitchell has compiled a list of his ten favourite post-Covid-19 recovery stocks - SUR is one of them, with a 50p target price:

[trustman] 24/3/2020 09:26

Are their services deemed essential in terms of PM's latest broadcast-and if so what proportion?
They have done a great job getting their debt down lets hope it wont surge in the crisis.

[vfast] 23/3/2020 22:40

Thanks once again for the information Rivaldo.

It will be interesting to read what they have to say when the interim come out in June.

[rivaldo] 23/3/2020 10:26

Indeed vfast. And MWM has updated his coverage post-AGM as follows:

"Sureserve (LON:SUR) – very positive AGM statement

Wednesday’s AGM statement was quite a pointer.

Both financial and operational performance have been strong in the first few months of the current year, in fact ahead of its own management expectations.

The group is very aware of any impact of the virus and has taken appropriate steps to enable it to operate as normal as possible.

I am sure that this asset and energy support services business will perform well in this current year.

Its shares touched 51.5p after its recent results but have since fallen back to a wallet-tempting 31.5p.

I see pre-tax profits in the year to end September rising a good 20% to £10m, worth 5.1p in earnings per share. That puts them out at a very low 6 times current year earnings.

I bet they will easily hit their 2020 High within months."

[vfast] 22/3/2020 23:35

Thanks Rivaldo, very encouraging.

We need to get over the peak of CV and we may see this one heading quickly back to 50p

[rivaldo] 20/3/2020 09:10

Mark Watson-Mitchell reviewed SUR this week just prior to the encouraging AGM statement, with a 50p target:



"Sureserve (LON:SUR) – a bullish AGM statement coming?

I recently profiled the shares of this compliance and energy services group ahead of the finals.

They moved up from my profile price of 36p to 51p, just above my target price for the end of this year.

Subsequent profit-taking pulled them back to rest at around 45p, before the virus hit the markets for six.

Now at around 36p we are back to the original level. The finals were excellent and this current year should see an even better performance.

I expect that the AGM statement next Wednesday will be as bullish as I am about its prospects.

Profile 14.01.20 @ 36p set an end-2020 Target Price of 50p."

[johndoe23] 18/3/2020 11:26

No one is buying though. Can't blame them, spread too wide as well

[rivaldo] 18/3/2020 11:00

Very solid statement - particularly with "results ahead of management expectations" for the first few months of the year.

Peel Hunt have retained their Buy and 50p target. I assume they've also retained their 5.1p EPS forecast for the year to 30/9/20.

[vfast] 18/3/2020 08:20

AGM statement looks good but with CV all fundamentals are out of the window.

[johndoe23] 05/3/2020 11:48

Yes, very wide spread now too. I can see 50p in short term if markets settle and AGM statement on 18th is positive

[cheshire man] 05/3/2020 11:45

Asking 42.7p now

[johndoe23] 05/3/2020 11:10

Regretting not paying 37.2p yesterday. Now full 40p to buy

[cheshire man] 05/3/2020 11:07

Took some more of these on Tuesday brave move when markets tanking but believe I will be well rewarded in time,,,,

Up over 4% today and a good few buys coming in,,,,,,,have we been mentioned somewhere I wonder ??

[tole] 27/2/2020 10:14

Good value here imv. Market is pretty indiscriminate in hammering down anything at the moment though.

[knowhow77] 27/2/2020 10:06

Taking a hit ??

[johndoe23] 27/2/2020 09:24

Next support 35p

[igoe104] 19/2/2020 13:57

Everwarm and other companies have won part of £250million energy frameworks between them.



Looking at the frameworks available it looks like Everwarm will be involved in most of them

[knowhow77] 14/2/2020 08:19

AGM 18th March

[vfast] 13/2/2020 15:52

It's been quiet however MM's are back on the bid for up to 225,000 shares at 45.25p.

Any date for the AGM? 2019 was the 19th of March.

[johndoe23] 06/2/2020 09:01

Yes, I'm watching with interest for a suitable entry point...

[vfast] 05/2/2020 21:52

The share price is taken a breather and some profit taken after a near 100% raise topping at 52p mid-price since November.

However, it will not take long for the next push up when I expect we will hear positive news at the AGM and interim results in March / April.

Company carbon neutral, we may get a few Green fund manages taken interest.

Might just be a chance of a small interim dividend....every little helps!

IMO DYOR

[1newtothis] 05/2/2020 10:04

Oooh. The prophet of doom is back!

[diduno] 05/2/2020 09:59

Inside Housing report on Lakehouse owing £27m. Directors reported under Company Directors Disqualification Act 1986. Directors not named in report. Who are they?

hxxps://www.insidehousing.co.uk/news/news/contractor-lakehouse-collapsed-owing-creditors-27m-62839

[rivaldo] 03/2/2020 11:19

It's worth noting that the 5.1p EPS forecast for this year to 30/9/20 is largely guaranteed by the 72% of forecast revenues which have already been secured, as pointed out by Edison:

"In our last note, we commented that Sureserve was in the ‘show me’ stage and we expected it would gain traction with investors once it had delivered full-year results. The stock has risen from 30p at the time we made the comment to 50.5p as of yesterday’s close. FY19 results beat our expectations across the board (revenues, EBITA, EPS, net debt and divisional performance), affirming Sureserve’s transition to a service based business underpinned by regulatory requirements.

Over the next decade we see increased opportunity as the UK policy on energy
efficiency gets more attention. We have increased our FY20e EPS forecast from 4.4p to 5.1p and introduce our 2021 forecast. Our fair value estimate increases from 45p to 65p."

Well positioned for the UK’s push on clean growth

There is increasing pressure on the UK government to follow a clean growth strategy, first outlined in legislation in 2017. Further development has been
distracted by the politics of the last two years, but the UK government now has
clean growth firmly on its agenda. Sureserve is well placed to enable the energy
savings and efficiency measures to be implemented as part of the strategy. An order book of £333m means that c 72% of FY20 revenues are already committed.

FY19 results very encouraging

FY19 results showed an improving performance in both the Compliance and Energy Services divisions and came in ahead of our expectations. Cash generation was strong, with net debt falling from £11.3m in FY18 to £7.4m FY19. The increase in dividend from 0.25p to 0.5p signals management’s confidence in the progress made.

We have upgraded our FY20 estimates, with revenues up from £215m to £230m and PBT up from £8.6m to £10.0m. Management commented that it is comfortable given the strong start to FY20 with the c 10% consensus earnings growth expectation and would anticipate that the group will make progress to pay down its debt by the FY20 year end."