|The Vitec Group
||EPS - Basic
||Market Cap (m)
Vitec Share Discussion Threads
Showing 201 to 224 of 225 messages
|red, did you buy btw?.|
I just found out that the Chairman is John McDonough, former CEO of Carillion.
I have met him a few times and spoken at length. It was going great guns whilst he was there, and I rate him very highly.
Further in-depth research needed, but so far I like what I see.
Point taken on FCF.
Markets have been strong of late and some sort of pull back may well be on the cards. The key is to get the ducks lined up for then.|
|Hi red, it's FCF I tend to focus on.
In terms of pre tax, VTC attempted to develop a new market in defence
applications, that did not work as hoped, it also distracted focus
from the core business imv. The strength of GBP (until recently) also had
My take is we may need one more upbeat TS and then a nice re-rating,
wider markets allowing, no guarantees as always.
Would hope the share price will come back a little before then.|
Looking at the 5 year summary to 2015, T/o & Pbt have more or less flat lined. That is the bit I don't get. The share price has meandered around £6 - £7 in that time, with a few notable exceptions.
I like the look of the presentations and their equipment, but can we take it that 2016 was their transformational year?
Agreed, it may well come back in the coming days when the euphoria dies down.|
|red, still hoping it may come back a little.|
|Added a small amount this AM.
Thought there may be small retrace following a strong run,
not happening as of yet, would like to add a few lower down.|
|If the next update confirms recent positive momentum,
that opens up potential for a large multiple re-rating IMV.
The current rating is not a growth company rating, or anywhere near.
A dividend increase of 11% may underline the CEO's confidence, all just IMV only,
please DYOR as always.|
|spooky, if it helps on the recent results presentation VTC mention a
return metric on all acquisitions made since 2011, lots of detail on the
investors site, as you may already be aware.|
|Spooky - not really, at least for the moment.
The restructuring costs were announced in 2015 and should reduce this year.
The acquisition charges are mainly amortisation of goodwill so non-cash charges.
Even including the cash outflow from the restructuring costs, their FCF (pre-tax/interest) is 45mm giving an EV/FCF of 8.7 which is pretty cheap. With 50% of their revenues from North America, that would make them a good target for a US acquirer.|
|FX looks a main medium term headwind imv, GBP oversold v USD/EURO.
However even stripping away all currency considerations, there are some intersting
and very positive developments.
The company appeared to lose it's way a little for a while with the distraction of
Now you have a double benefit of the refocus and multi year efficiency measures
increasingly kicking in, very welcome.|
|WJ - Don't you have any concerns about their persistent use of restructuring costs and charges associated with acquisitions?|
|Added a couple of lots having listened to the conference call
So at last a focus on core and previous restructuring efforts look to be creating an interesting growth play.
Buying distributers in some markets looks astute, hopefully more of this to come.|
|Have held on an off down the years, remember VTC from the mid 90's when it
was a high growth business with a PER to match.|
|The FX benefit is likely to stay unless you think £ will recover strongly against the $.
I always strip out the working capital changes in valuing cashflow. I deduct the 2 year average capex from working capital adjusted cashflow to get free cashflow.
With VCT, that gives FCF of 42mm, and EV/FCF of 9.|
|If you strip out the FX benefit and one off big inventory reduction,
is VTC still that cheap on cashflow?.|
|Also here. Bought back a while ago. Very cheap on a cashflow basis as well as PE. Given their international exposure, wouldn't surprise me if they were bought by a US company.|
|Just cropped up on my quality, value & momentum screen. Looks like a real hidden gem this one. Also reassuring that this board isn't full of idiots!|
|Well cellars it only seems to be ye and me interested! This one probably won't be exciting but I reckon it'll top 800 by results next year. Well run, tightly held, $ earner, growth sector.....|
the dark horse
|Forecast beating results duly delivered|
|Results due Tues 21/2 and already flagged as better than market forecasts - with $ earnings from new acquisition they could be even better ....|
the dark horse
|BB's do not come much quieter than this one!
Today, though, Vitec has made its biggest acquisition since 2011. It looks attractively priced and in a sector Vitec knows very well indeed.|
|Read Arden Partners's note on VITEC GROUP PLC THE (VTC), out this morning, by visiting hxxps://www.research-tree.com/company/GB0009296665
"Standing on a PER under 10x and with a yield of 4.6% we think that Vitec is very attractively valued given its leading positions in growing markets. This valuation probably reflects the market’s concern over growth prospects given the headwinds seen in recent years, particularly from FX and the decline in Photographic markets, and also the “lumpy” nature of the contribution from its service activities, which are heavily influenced by major events such as this year’s Olympics in Rio. We believe that delivery of this year’s pr..."|
|Will it break through previous highs in March now?!|
|Good to see the strong recovery recently|