Wincanton Share Discussion Threads

[edmundshaw] 08/4/2016 17:37

Reasonable value here but losing earnings from the high margin records business means one has to be careful about projecting forward EPS. I am not sure at the moment the value is strong enough for me, so I am watching (with interest) from the sidelines.

[qs99] 08/4/2016 15:49

can't see it on my advfn basic but apparently if you click into the WIN quote, Liberium are saying WIN may be a takeover candidate....anyone got a premium subscription can find out? thanks

[qs99] 08/4/2016 14:17

So decent yield in to next year, surprised about lack of growth, seems a bit odd especially given lower financing costs as debt is paid down....let's see....

[18bt] 01/4/2016 08:10

Edison note:

Wincanton’s pre-close statement has reaffirmed that trading results will be in line with expectations. With the proceeds received from the disposal of Records Management used to pay down debt and £34m of US Private Placement notes repaid on maturity via the RCF, Wincanton is set to see an ongoing reduction in financing costs as forecast. This follows the thesis set out in our March 2016 initiation that the group is now a more focused logistics play with increasing financial flexibility.

Estiamtes: 2016 PTP £33.1m EPS 22.3 2017 PTP £33.3m EPS 22.4

Not expecting much growth, but are expecting 7p divd for YE17

[cestnous] 31/3/2016 14:25

Excellent imp.

[qs99] 31/3/2016 13:42

noone else noticed trading update? Numis I can see on Barclays just reiterated buy and £2.20 TP...DYOR but have topped up again this am...

[qs99] 31/3/2016 08:00

decent update IMO....still no idea why it is rated so lowly....IMO!

[cestnous] 14/3/2016 11:10

Fuel costs are contractually passed on salty

[saltaire111] 13/3/2016 15:28

I sold m wincanton shares in August at about £1.80 and now thinking of getting back on-board. Target is £1.40. My only fear is a sharp rebound in oil prices. If that happens, fuel prices will rocket and wincanton could feel the pain. Anyone any views on this?

Salty

[qs99] 09/3/2016 09:23

thanks, no idea why the sharp fall yesterday, must still be some selling pressure of size, let's see if these brokers are right...

[18bt] 09/3/2016 09:22

New Edison coverage started. Summary:
The disposal of Records Management is effectively the end of the current phase of restructuring, with net debt reduced from a peak of £270m to £45m in FY16e and Wincanton now back on the front foot. A programme of continuous improvements has increased the resilience of the core UK logistics business with improved margins and profits. Despite its market leadership the rating remains at a discount to its global peers and our valuation range (219-242p). Another potential catalyst is the resumption of dividends.

A prospective P/E ratio of 6.9x seems modest, but our preferred metric is EV/EBITDA, including the pension fund liability as debt. With Wincanton trading on FY16e EV/EBITDA of 6.0x, our valuation range of 219p (7.3x, c 40% discount to international peers, including DHL, XPO and Kuehne & Nagel) to a DCF-derived 242p, implies 30-48% upside. Our valuation reflects the company’s cash-generative nature and the likely resumption of dividends in FY17e. The potential initial 4%+ yield also provides support and a catalyst for wider investor interest.

They are forecasting a 7p/s div from FY 2017

[martinc] 08/3/2016 16:36

As often said, oil price makes no direct difference as fuel price changes are passed on to customers.

[value viper] 08/3/2016 10:42

no doubt market is anxious, shares 200p to 150p is horrible really
low oil must be helpful and an update cant come quick enough imv

[qs99] 03/3/2016 10:24

OK 1st April last year was last trading update, so hopefully not too long to wait now! keeping an eye on how the shares fare ahead of this....

[qs99] 22/2/2016 08:09

Looking forward to continued move back to £2+...

[qs99] 19/2/2016 08:48

continuing move up....

[lionheart79] 09/2/2016 13:36

what did Shares have to say?

[qs99] 05/2/2016 09:35

yup noticed that....wish they could sort the legacy issues out asap!

[cestnous] 04/2/2016 10:27

Nice article in "Shares" today.

[qs99] 03/2/2016 16:13

Thanks....like the share buyback rns...shows confidence IMO.....and institution upping stake also...dyor etc...

[cestnous] 03/2/2016 12:25

Price kept down yesterday for buyer of 175K late trade?

[wynmck] 03/2/2016 11:55

it was 5th last year

[qs99] 03/2/2016 11:50

Someone keeps selling IMO, keeping lid on it IMO, when is next update due?

[cestnous] 02/2/2016 08:34

Took a trading position and they immediately dropped the bid. :¬( Someone is buying though.

[qs99] 19/1/2016 14:15

Phew, looks like IMO, DYOR, that seller has cleared....glad I topped up now!