Tricorn Share Discussion Threads

[glasshalfull] 01/6/2012 09:09

I've had some more this morning as well cfro.

There's been a lot of unwarranted dips in small caps recently. You only have to look at the selling of HVN over the last week as an example, where there was a 20% drop in shareprice on a number of small sell trades. IMS statement this morning confirms trading fine & unjustified fall in shareprice recouped in one fell swoop.

TCN have already indicated that they are ahead of the previously ahead statement ;-)...so expect decent results & we will hopefully receive a bullish update on trading seeing that their customers such as Rolls Royce, JCB and Caterpillar are all experiencing buoyant order books.

Regards,
GHF

[cfro] 29/5/2012 18:35

Nice little rise today. Good job i managed another small top-up before it moved. ;-)

[interceptor2] 24/5/2012 16:32

Agree with the previous post about EPS, I had worked out 3.51p to be exact for next results, so we are all very close.

Electronica, thanks for the list, it will save me some digging tonight. I already hold CMH and am watching AVG closely, but will take a closer look at the other two.

Much appreciated

ic2...

[glasshalfull] 24/5/2012 14:08

That's exactly the EPS I've pencilled in rivaldo. To be exact I had 3.55 EPS but I'll certainly take 3.5p ;-)

Thanks for article on JCB...which provided me with the impetus to top up earlier. I've taken some TRCS, DOTD and TCN today, all with the view to long term winners, demonstrating strong cash generation and net cash positions.

Regards,
GHF

[rivaldo] 24/5/2012 13:45

Mas, TCN made 1.66p EPS in H1 alone. Last year's H2 saw a much higher EPS in H2 than in H1, which may or may not be seasonal or simply due to TCN's growth path - I'll have to check.

Forecasts for the year just ended are for £1.6m PBT, after £0.72m in H1. This should equate to around £1.14m PAT, and on say a weighted average 33m shares in issue for the year that's around 3.5p historic EPS - a historic P/E of only 8.6.

The current year forecast of £1.7m PBT may well be upgraded too. I'd say a 40%-50% re-rating to a current year P/E of 11 or 12 wouldn't be unreasonable.

And I also hold CMH...

[electronica] 24/5/2012 13:28

interceptor

"I'm sure there are other UK manufacturing/engineering companies that are suppliers to JCB and CAT which might offer the same opportunities?"

Try ..............

MRX - Metalrax
AVG - Avingtrans
CMH - Chamberlin
CGS - Castings

All of the above supply significant portions of their output to the yellow goods sector or their Tier 1 suppliers.

[masurenguy] 24/5/2012 13:27

Looks like eps on the year just ended will be around 3p putting them on an historical PER of circa 10. Looking at the interims they should also be more or less debt free too.

Be very interested to see their outlook statement when the results are published next month. In this market a PER of 10 for a debt free small cap is around par for the course but if their profits can grow
by 30% or more in the current year then the valuation could start to look cheap.

[interceptor2] 24/5/2012 12:57

rivaldo, thanks for the article, shows the demand in this sector for TCN. CMH will also benefit from this contract alnog with PLA. Fortunately I hold all three.

I'm sure there are other UK manufacturing/engineering companies that are suppliers to JCB and CAT which might offer the same opportunities? I will do some digging today.

ic2...

[rivaldo] 13/5/2012 09:16

Excellent summary ic2, cheers.

Worth noting that Rolls-Royce are also major customers of TCN's, and they make up a triumvirate of substantial clients who are all reporting boom conditions at present despite the economy in general, along with Caterpillar and JCB.

[interceptor2] 09/5/2012 11:24

Another good bit of research by a poster on Motley Fool, pretty much agrees with opinions here.



ic2...

[cfro] 08/5/2012 11:47

Slow and steady rises up to the results is what we wil see imo.

[rivaldo] 08/5/2012 10:03

Rising again. I note that Caterpillar are already taking orders through to 2014, which bodes well for TCN of course going forward:



"Oberhelman says customers have already placed truck orders with Caterpillar for mines opening in 2014, in an attempt to circumvent long lead times."

[cfro] 04/5/2012 08:39

Thanks riv.

[rivaldo] 04/5/2012 07:15

Excellent summary of TCN on T.M.F bu Bobhellen yesterday should bring a little attention:

[electronica] 03/5/2012 15:16

IC2

Already in CMH & very pleased to be so.

Looking very good for a nice 30% CAGR over the next 3 years.

[interceptor2] 03/5/2012 13:01

Another manufacturing company that export over 70% of their products, and have JCB and CAT as customers is CMH which I brought back into today and would like to add more at finals on 22nd May.

Might be worth a look imo.

ic2...

[shauney2] 03/5/2012 10:52

Ditto ic2.
Need a few sellers now to move this up.1500 the max available online.

[rivaldo] 03/5/2012 10:31

Cheers for the GCI article ic2. Given that both Caterpillar and JCB are both seeing storming business at present the results on June 11th should reinforce the prior very positive outlook - and the cheap fundamentals.

[cfro] 03/5/2012 10:04

I have been collecting a few up over the last few days and have finnished buying for now IC2, but will most probably buy more beofore the June results. You go ahead and do what you will ! ;-)

[interceptor2] 03/5/2012 09:11

I take it that you have brought back in now, and I can post a few comments on the zulu thread now ?

ic2...

[cfro] 03/5/2012 08:46

Thanks for that IC2, very nice. ;-)