Volex Share Discussion Threads

[rivaldo] 12/6/2017 09:47

Good to see around £14k of net buys this morning (including NEX) causing a decent tick up. Not much stock around?

[rivaldo] 12/6/2017 08:09

Good to see VLX's recovery featured in the FT, primarily in a piece about Nat Rothschild:



Extract:

"However, margins are inching towards the light and underlying profits before nasties rose from $5.3m to $7.2m. The debt has been paid off and the group has $11m net cash. And Volex said last week it had won “sizeable” contracts to supply four new customers, including an unnamed “leading electric car manufacturer”, lifting Volex shares by a tenth to 47p, up from the lows of 30p a year ago."

[rivaldo] 09/6/2017 13:41

New 18-month highs now.

[rivaldo] 09/6/2017 07:14

Terrific close last night, perhaps prompted by a large trade of 1.125m shares going through at 44.97p, which may just be the closing of an overhang.

The late 100,000 buy at 46p in particular bodes well.

[rivaldo] 08/6/2017 11:09

Liberum summarise as follows today - incidentally, they forecast the cash pile increasing to $15.2m this year:

Extracts:

"Volex*
Cash significantly above expectation

FY results have surpassed estimates. Tight control of costs, capex and working capital has led to FY17 net cash of $11m, more than double our forecast. Recovery is ongoing. Revenue has stabilised. We upgrade our FY18 EBIT by 14% and net cash by 36%. As such, the stock is undervalued on a CY17 EV/EBIT of < 4x. Our assumptions are modest – management aim higher. TP raised to 70p ~ 67% upside."

"FY17 cash is the highlight
• Net cash $11m vs. $5m estimate
• FCFE of $14m (2.3x Adj PAT)
• Sales -13% to $320m (2% below)
• Adj EBIT+27% to $9m (6% ahead)
• Adj EPS +346% to 7c (28% ahead) due to lower tax"

"TP increased to 70p from 55p
• CY17 P/E of 7x
• CY17 EV/EBIT of < 4x
• FCF yield of 13%
• SOTP-based TP of 70p, and reflects a CY17 EV/EBIT of 9x inline with UK small-cap companies with 2-5% margin."

[rivaldo] 08/6/2017 08:57

Agreed. I bought some first thing today. Liberum have now raised their target price to 70p (from 55p).

With 6.6c fully diluted EPS, rising to 7.5c this year and 8.4c next year, VLX are on a current year P/E of only just above 7. They also have $11m net cash against the £42m m/cap.

This is a company being turned around positively, with $320m sales against a £42m m/cap. It's possible we might see quite a quick and decent re-rating if all goes well.

[scotch broth] 08/6/2017 08:35

Results look good with cash in hand and positive outlook-looks under valued.I am in.

[solomon] 02/6/2017 15:36

The trend is pointing towards further drying in the near to mid future. However, yesterday was the highest volume of trades on NEX exchange for over two years.

[freddie ferret] 02/6/2017 14:57

Paint still drying?

[latifs100] 12/4/2017 08:47

any ideas on debt n cash levels

[red army] 02/3/2017 11:57

she-ra - mark probably had to go back to school.

[she-ra] 02/3/2017 10:58

Joined up yesterday. Obviously not British. Probably knows a predator is stalking Volex.

[red army] 01/3/2017 23:50

Can you be more specific marklopex???

[marklopex] 01/3/2017 23:21

Volex has too many problems with their customer around the world I don't know how exist yet. special with medical customer.

[she-ra] 27/2/2017 12:05

Yeah right Red Army.

[red army] 27/2/2017 12:05

Bitter ???? Sold???? not me your honour.

[she-ra] 27/2/2017 11:50

red army - no its not. Theres no point in being bitter having sold red army.

[red army] 27/2/2017 11:35

I would be happy with that but chart suggesting 50p ish next followed by another move down towards 42p and then after that anyones guess as it needs to get out of this slow upward range.

[she-ra] 27/2/2017 10:35

I think Nat will be looking to sell off Volex for around 100-110p.

[phowdo] 27/2/2017 09:47

perhaps the CFO got permission from the Company Secretary for that share purchase...

;)

[imastu pidgitaswell] 27/2/2017 08:16

Just that progress is slow, per trading statement. But positive, imho. What they really need is revenue growth.

FD buying shares a few days before trading statement? Erm...

[prokartace] 15/2/2017 11:06

Looked like it then the last 2 weeks big drop, why?

[red army] 19/12/2016 13:49

Just joined you guys in what could be the recovery of 2017.

[fillipe] 15/12/2016 15:33

Mid Nov we were here at 37.75p - today, almost one month on, I see the best Level 2 ask is showing 47.75p.

Long may the share price recovery continue!

f