Tclarke Share Discussion Threads

[edmundshaw] 01/8/2019 09:29

Added some back on the drop. I maintain an overweight stance here - quality company with quality earnings...

[master rsi] 01/8/2019 09:18

A very good set of results, or in another way what was expected from CTO, maintaining their prediction of a 3% margins on the way, today was already very close 2.9% (2.6%).

Some precaution on the Brexit outlook has got some selling at the start, a good opportunity for others to pick the loose shares, on a PE of less than 6 on the forecast of 17.50p for the year

[tsmith2] 01/8/2019 09:03

Let's see if management put their money where mouth is

[tsmith2] 01/8/2019 09:03

Given outlook confirmation and forecast eps - way too cheap.

[tsmith2] 01/8/2019 09:01

Taken some

[rivaldo] 01/8/2019 08:59

N+1 Singer retain their 150p target and forecasts of 17.5p EPS this year, rising to 18.6p EPS next year.

They see dividends of 4.4p rising to 4.8p.

They summarise:

"H1 was another positive trading period for TClarke, with PBT increasing by 24% to
£4.6m. The Group continues to make solid progress against its 3.0% operating margin
target, achieving a margin of 2.9% in H1 (H1’18: 2.6%). The order book has been
maintained at £370m and provides strong support for our full year forecast, which is now 96% covered. Our FY20 forecast is also 50% covered by the order book. This is a strong position against a backdrop of political uncertainty and we maintain our forecasts.

The strategy is delivering and TClarke is well on its way to achieving its full year targets. With sustained earnings momentum, we believe the shares will continue to outperform the wider peer group and we reiterate our 150p intrinsic value."

[dtaliadoros] 01/8/2019 08:52

Like I said....markets are now rigged.

[dtaliadoros] 01/8/2019 08:50

There is nothing wrong with those results other than decrease of cash which is expected for a company that is dealing with a healthy increase of orders. It's market makers marking prices down in the hope of building their positions.

[tsmith2] 01/8/2019 08:47

Any broker comments, very tempted

[thorpematt] 01/8/2019 08:47

That pension news isn't really news or particularly significant IMO (not wishing to be critical of your post you understand).

Directors pay warrants a look if your stats are fair. This particular industry is rife with overpaid execs....but I will research before committing my comments.

Frankly I think this is oversold this morning but I'd be intrigued to understand what market commentators are saying to justify the fall. The price did look a little ahead of the curve and I sold a little while back as a consequence.

Definitely still a London-centric stock in terms of revenue stream and if you're one of those, then making any comments about slow-down is always gonna "create a buying opportunity" for your shares.

[tsmith2] 01/8/2019 08:35

Wonder if a large sell is being worked

[ottrott] 01/8/2019 08:28

Just looking at annual report. PBT £7.8m(+10%) Exec remuneration £2.8m(+40%).
No question of whose benefit this company is being run for.

[tsmith2] 01/8/2019 08:26

Bizarre reaction

[ivancampo] 01/8/2019 08:26

To take a short position on a short position on an illiquid small cap suggests some other knowledge was available to someone.

[dtaliadoros] 01/8/2019 08:23

Yes....markets are now rigged. Investing in stock market is not what it used to be.

[indiestu] 01/8/2019 08:20

Pensions



An actuarial loss of £2.6 million, net of tax, has been recognised in reserves during the period, with the pension scheme deficit increasing to £26.1 million (30th June 2018: £18.9 million). The increase in the deficit is the result of the discount rate falling by 0.6% to 2.4%; the effect of which has been partially offset by investment performance in the period exceeding the long term assumption. In accordance with the Group's agreed deficit reduction plan, described in detail in the most recent annual report, the annual deficit reduction contribution is set at £1.5 million for the current year, and will remain at this amount until the review of the next triennial actuarial valuation of the scheme currently being undertaken.

[morti1] 01/8/2019 08:15

What on earth has happened. Never known a stock to fall so much with essentially good news! Really strange

[hiraniha] 01/8/2019 08:15

Before I top up, is there anything negative in the results?I'm struggling to find it.

[effortless cool] 01/8/2019 08:14

From an income statement point of view, CTO is a company executing its strategy to perfection. The worry comes from its exposure to other, less successful businesses.

Cash fell much more than I expected this period, due pretty much entirely to a large (£13.3m) increase in "amounts due from customers under construction contracts". This is always a lumpy cash flow item, but the worry must be that some customers (Kier?) are struggling to pay and may default. It does not help that there is no comment on this in the text.

[impvesta] 01/8/2019 08:13

Strange market reaction to what I thought was very solid results.

[ivancampo] 01/8/2019 08:08

From last week it's the First time ever seen someone holding a short position with IG. Normally 100% long. Very fishy imo. Looking to top up.

[trickyricky] 01/8/2019 08:05

Market spooked by political uncertainty?

[podgyted] 01/8/2019 07:48

20% organic profit growth on a P/E of 6.5 - still undervalued surely, BWDIK!

[rivaldo] 01/8/2019 07:42

Very good numbers, with 8.7p EPS in H1 alone and confirmation of expectations of 17.5p EPS for the year.

Plus £3.6m net cash at the seasonal low point, a continued £370m order book - and £182m of revenues already secured for next year.

The Brexit caveat is to be expected, and surely already more than baked into the share price on a paltry current year P/E of 6.5!

[cheshire man] 01/8/2019 07:39

A steady as she goes stock for me with an increased divi to boot ?:-)