It's good to see VSVS still on a share buy back programme. Although the price drifted as with most small mid caps, this constant buy back pressure is helpful. |
I rejoined the party again, albeit a bit late to catch the latest rise. This is one that I see value all the way to a fiver and true value around 550. It won't take much for this to gallop, just a couple of decent contract wins and the share price will do the rest. This share isn't one to double or treble but a nice unexciting share which should yield nicely over the next weeks / months. |
TU reads a lot better than the recent share price suggests. Looks to be worth substantially more to me on continued recovery.
For the record, I bought at 365p a couple of weeks ago. |
Back on the watchlist after dumping yesterday morning. |
We no longer expect a significant improvement in our end markets in the second half, with most external forecasts predicting end market recovery being postponed to 2025.
Accordingly, we now expect our full year headline trading profit for the year to be only slightly ahead of last year on a constant currency basis
End markets weaker than anticipated, in particular Foundry
Significantly lower volumes reduced Return on Sales to 8.2% |
And it's a sh1te market response. |
Interim results next thursday. |
Last week's news
Monday, 01 Jul 2024
Vesuvius India's flux plant in Visakhapatnam, has commenced commercial operations on 30 June, 2024.
The mould flux facility, located at Parawada Mandal in Anakapalli district is designed to meet the increased demand for flux, which is a vital component for the continuous casting process at steel plants.
For the Kolkata-headquartered company, it will also contribute to the socio-economic development of the communities where it operates. |
A senior executive at a FTSE 250 engineering firm has been awarded £3.2 million after winning his direct age discrimination claim.
The London Central employment tribunal heard how Glenn Cowie had received a 45-minute lecture describing how he was an “old fossil” and he “didn’t know how to deal with millennials”.
Cowie, an engineering manager on a salary of £300,000 per year, was dismissed and replaced by a younger female manager, after his employer Vesuvius, which develops technology for molten metal processes, implemented a policy encouraging managers not to hire people over the age of 45. |
JPMorgan raises Vesuvius price target to 490 (460) pence - 'neutral' |
And b*ll*xed right up today.
Time to call it a day when it breaks down through the 200 mda which could even be today. |
 Peel Hunt: Vesuvius valuation is red hot
Vesuvius (VSVS), a global leader in molten flow engineering, is trading at a red-hot valuation as it positions itself for recovery, says Peel Hunt.
Analyst Harry Philips retained his ‘buy’ recommendation and target price of 700p on the Citywire Elite Companies AA-rated stock which has risen 1.5%, or 0.5p, to 496p in the past week after first-quarter results came in line with expectations and the 2024 forecast remained unchanged.
‘The thought that springs to mind is that this performance in weak markets points to material upside when the recovery comes,’ said Philips, although he trimmed his current-year earnings forecast from £212m to £206m to factor in greater currency headwinds.
‘This continued strong performance through the trough highlights the growth and recovery opportunity to the 12.5% margin target for 2026,’ he explained.
He said market recovery is in play and ‘the building blocks to a material margin uplift are clear’.
‘An 8.9 times 2025 price/earnings seems an opportunity to us, with the 17% free cashflow yield putting this in neon lights.’
citywire.com |
Jogging along |
Trading update wednesday |
xd tomorrow for the 16.2p dividend |
Jefferies raises Vesuvius price target to 685 (675) pence - 'buy' |
We've got Bart Simpsons haircut on the chart for the last four months ;-) |
Solid hold |
Berenberg raises Vesuvius price target to 580 (480) pence - 'buy' |
Vesuvius may erupt towards higher margins, says Peel Hunt
The building blocks are in place for engineered ceramics company Vesuvius (VSVS) to hit higher margins within a couple of years, says Peel Hunt.
Analyst Harry Philips reiterated his ‘buy’ recommendation and target price of 600p on the Citywire Elite Companies AA-rated stock, which retreated 4.8% to 474p last week.
The group reported earnings of £200m for 2023, which was ahead of Philip’s estimate of £195m, with margins at 10.4%.
He said the £30m cost reduction programme and ‘growth in 2025’ earnings per share are likely to rise to 57.3p ‘while a first bridge for 2026 delivers the targeted 12.5% margin and 62p’.
‘We are leaving our 600p target price unchanged for now but our confidence in the delivery of the 12.5% margin grows despite the minor adjustments to 2024,’ he concluded.
CITYWIRE.COM |
It's a big dividend payer too... |
I don't hold. If it does fall to 400, I will be a buyer for sure. This is a nice solid company and barring black swan events, I do see this as a 550 share.Market is doing weird things.Good luck to you all. |
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