Share Name Share Symbol Market Type Share ISIN Share Description
Synthomer Plc LSE:SYNT London Ordinary Share GB0009887422 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -1.20 -0.77% 154.70 106,390 09:23:03
Bid Price Offer Price High Price Low Price Open Price
154.50 155.10 156.70 152.50 152.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Chemicals 2,329.50 283.90 48.30 3.2 723
Last Trade Time Trade Type Trade Size Trade Price Currency
09:20:32 O 512 154.80 GBX

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Date Time Title Posts
07/8/201818:23Synthomer (SYNT) One to Watch on Monday 1

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Posted at 01/2/2023 08:20 by Synthomer Daily Update
Synthomer Plc is listed in the Chemicals sector of the London Stock Exchange with ticker SYNT. The last closing price for Synthomer was 155.90p.
Synthomer Plc has a 4 week average price of 142.60p and a 12 week average price of 116.50p.
The 1 year high share price is 375.80p while the 1 year low share price is currently 83p.
There are currently 467,336,041 shares in issue and the average daily traded volume is 1,203,734 shares. The market capitalisation of Synthomer Plc is £723,436,191.47.
Posted at 31/1/2023 07:29 by source
Not a great outlook statement. Suggest more weaknesses going forward. Not sure if the share price doubling since Oct supports a recovery story yet.
Posted at 29/11/2022 11:46 by tuftymatt
Yes but £3m lower than expected and provisioned for hence the lack of negative reaction in the share price.
Posted at 18/10/2022 14:54 by libertine
Berenberg Bank set a target price of 160 GBX for the company, which when compared to the Synthomer PLC share price of 93 GBX at opening today (18/10/2022) indicates a potential upside of 42.0%. Trading has ranged between 83 (52 week low) and 524 (52 week high) with an average of 3,038,236 shares exchanging hands daily. The market capitalisation at the time of writing is £439,062,157.
Posted at 07/10/2022 08:41 by dsrush
See the trading update Tufty..

Posted at 29/9/2022 13:20 by aringadingding
A dividend yield of 10%, taking the rough average across the last 20 years and today's share price... what a nonsense.


Posted at 16/9/2022 09:36 by brucie5
Edmundshaw, what you say is fairly indisputable - it could go either way! But this epitomises the dilemma that many value+income investors are facing currently, in holding/buying what they consider to be solid companies yielding great free cash flow, only to see the face value of the shares getting trashed.

One way of looking at it might be to ask what you would do if SYNT was an IT - would you have the confidence to buy down the cycle into the abyss, knowing that the collective risk of the vehicle would prevent complete loss of capital? My answer? Probably - I would certainly feel much MORE confident in doing so, while seeking to hold some capital back for the absolute nadir - if that's possible to time.

Added to which is the precondition of any share being held in such an IT: is it producing a sustainable market busting dividend, as far as one can tell?
Added to which, are others, with similar investing priorities seeing value in these shares at these levels? Think directors, pension companies...

Added to which: are you able to capitalise on the decline in the share price to buy down and increase your dividend average?

And finally, step back a moment: this is not of course an IT, it is a single share. So, of course one needs to ask oneself, is this the only share in your folio, whose complete value destruction would mean capital wipeout?

So I hold onto these. And unless the story changes, like GMPF, I will in due course be adding.

Posted at 28/8/2022 13:17 by reddirish
I'm thinking of topping up too, so have just read through the presentation supporting the interim results. All credit to management for the transparency and detail. In my opinion the fall in the share price is strongly linked to the massive increase in debt with the Adhesives division, and that the biggest source of funding- a £500m bond paying just 3%- falls due in less than 3 years. In fact, there's a lot of debt to be managed over the next two years too, all in the context of a debt covenant ratio of 2.5/3.5: a bit too close for comfort with a recession looming, and lots of Chinese capacity being diverted. So I've decided to hold back for now, though would reconsider should the risk reward profile change ( an share price closer to 1:80, I fear). I already hold plenty at an average of £2.40.
Posted at 07/8/2022 15:47 by jonwig
This is the IC tip, from Friday (at 211p):

Synthomer (SYNT) is an example of how short-sighted the stock market can be. Demand for PPE during the pandemic turbo-charged performance elastomers (PE) sales. Synthomer's share price almost doubled. Now PE sales are back to pre-pandemic levels, the share price has almost halved, so we are back to where we started.

The difference between now and before the pandemic is inflation. The cash profit (Ebitda) margin dropped from 26.2 per cent to 13.0 per cent. The need to stockpile raw materials to mitigate against supply chain disruption has also tied up more working capital in the business. Free cash has therefore swung from an inflow of £89.5mn last year to an outflow of £62mn.

The combination of the cash outflow and the £759mn acquisition of Eastman’s Adhesive Resins means net debt has risen to £993mn from £355mn. This acquisition enabled the business to launch a new Adhesive Technology division that generated £131mn of revenue last year. This will diversify the business, and Synthomer insists that adhesives is a higher growth segment.

If the investment in Adhesive Technology is a success, then the business will be a better place leaving the pandemic than going in. Cash profit of £173mn is 74 per cent higher than the same period in 2019. The fact the share price sits around half its 2019 level is rather indicative of the global economic slowdown and Synthomer's increased debt.

FactSet consensus expects earnings to rise to 39p in 2023 which gives a very affordable 2023 PE ratio of five. Earnings aren’t going to race forward, but at these prices there looks to be value here. Buy.

I don't hold, but the share price seems weird!

Posted at 18/5/2022 11:19 by turvart
One thing that there is a trend is the price of chemicals follow in most cases the price of oil and SYNT will just increase profit pro-rata, I just can't wait to read the interim accounts because I think we are sat on a £5 possible £6 share price here, it's always hard to picture when the share price is here.
Posted at 11/5/2022 17:08 by turvart
Hi spangle93,

You ask my opinion on what you call the "disconnect".

This is my opinion:

In last years 2021 results SYNT have exceptional results across the board of products, however they had a fantastic uplift in latex glove sales up 136% due to covid 19 sales and they state in the results that sales should go back to 2019 levels before the pandemic. So what we have had IMO is the share price well over £5 due to these latex sales and massive emphasis have been put on these latex sales rather than people actually spending time to read the accounts and see that the whole range of products was actually up by a very good margin also. Another reason also is the fact again that some people don't understand how to read accounts and feel that SYNT are massively in debt because of the Eastman's Resin acquisition, quite simply it's not, they used their profit, had a share placing and used a 300 Mln credit facility to finance it of which they did comfortable and if people understand accounts will realise that after the takeover SYNT current assets are far higher than current liabilities. Another area is that people are second guessing and sticking their finger in the air stating that the dividend is going to be cut, this is another area that I strongly disagree and I feel the dividend will actually be higher based on my projection that EPS figures will be higher due to the recent acquistions and the BOD state that 40% of EPS will be paid minimum in dividends.

Fortunately for me I do fully understand how to read accounts and I have been investing for well over 21 years and know a good stock when I see one and SYNT will deliver the EPS and this is what does the real talking in fundamentals.

I hope this helps.

Regards, Turvart.

Synthomer share price data is direct from the London Stock Exchange
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