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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Wood Group (john) Plc | WG. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -0.95 | -1.84% | 50.60 | 11:14:13 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 50.90 | 49.68 | 51.70 | 51.55 |
| Industry Sector |
|---|
| OIL EQUIPMENT SERVICES & DISTRIBUTION |
| Top Posts |
|---|
Posted at 18/11/2024 09:25 by hazl Well done WG.!Fighting back. |
Posted at 08/11/2024 09:18 by hamhamham1 WG. expects $525m EBITDA profit for this year. And was the same last year.PFC reported -$340m EBITDA loss for last year. And already up to -$112m loss so far for first 6 months this year. That's the difference. |
Posted at 07/11/2024 16:12 by reddirish I had kept this on my watch list, with a trigger for review at £1.20. Fortunately, I was busy today and didn't see the carnage early! The key issue that had kept me out of WG. was the debt level: even after a huge disposal, the debt seemed not to move. OK, maybe any accounting impacts from the review will be non-cash: but another big write down of assets could jeopardise banking covenants, and would certainly hold off any shareholder returns. In spite of the now apparently very attractive entry point, I'm staying out. |
Posted at 07/11/2024 13:52 by hazl It isn't being helped elsewhere on the boards...eg AAZ... but I still think some of these old established stalwarts have a way of surviving, and I originally bought this after the deal fell through, for the future horizon.Good luck WG. there's life in the old dog yet, hopefully! |
Posted at 07/11/2024 13:42 by paa65 Surprised that Lodgeview and Dipa aren't on this board.It's over for WG. |
Posted at 05/11/2024 08:07 by hazl WG. Has already lost a lot so I am happy to wait until then. |
Posted at 04/11/2024 13:57 by hazl WG.At least they have plenty of work! Worse things happen at sea as they say. |
Posted at 04/11/2024 13:54 by hazl Just thought I'd point out your previous post, when I mentioned I had bought in WG.Things change all the time of course but I think I will stay put for now. Things never stay the same for long and I really bought these for the future, hence why I don't post here much. We live in uncertain times but time passes. pogue - 28 Sep 2024 - 11:14:51 - 69096 of 70297 Wanobi & AAZ - AAZ 'WG in the SE is booming just now cannot get enough engineers to do the projects which are mainly Saudi. I declined an offer there a few weeks ago rates too low plus they have a very dodgy rule that contractors cannot charge VAT on their invoices as the project is in Saudi which is a VAT free country so according to their legal counsel VAT is not chargeable. This reduces their costs when bidding so are able to win all the Saudi contracts which are a lot just now. I am pretty certain that HMRC will catch up at some point but it's the contractors that will get the pain as they did not charge VAT mind you WG run the agency that all contractors must go through. Interesting times there and I dont want involved. Aberdeen I am assuming is quiet as the NS gets run down though they seem to be agreeing to become the engineering hub for BP world wide to allow BP to sack what's left of their engineers. Makes sense for both companies.' IMO |
Posted at 17/9/2024 10:11 by hazl Ah there's nothing as bad as a stale bull.'chutes01 - 17 Apr 2024 - 13:00:15 - 1586 of 2108 Wood (WG.) Charts only - WG. Wood hocking itself for a quick sale amidst threat of US listing. Management to be replaced regardless. Should see this north 200p' |
Posted at 24/8/2024 07:19 by maywillow Why this unloved FTSE 250 stock could turn 55p into at least £1This FTSE 250 share’s fallen 33% in August after a takeover bid fell through. But Roland Head explains why he sees an opportunity here. Posted by @rolandhead Roland Head ❯ Published 24 August, 8:05 am BST WG. When investing, your capital is at risk. The value of your investments can go down as well as up and you may get back less than you put in. You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Shareholders in FTSE 250 energy services specialist Wood Group (LSE: WG.) have had a tough ride over the last couple of years. Hopes were high in July that a 230p bid from Dubai-based rival Sidara might provide a profitable exit from a difficult turnaround. But the bid fell through on 5 August when Sidara decided not to make a firm offer, blaming “geopolitical risks and financial market uncertainty”. This situation has left chief executive Ken Gilmartin under renewed pressure. However, Wood’s latest half-year results suggest to me that a genuine recovery’s underway. If Gilmartin can deliver on his targets, my analysis suggests the stock could be too cheap at current levels. Performance is improving There’s an old stock market saying that turnover is vanity, profit is sanity and cash flow is reality. What this means is that it’s easy to boost sales (turnover) if you aren’t too worried about making a profit. Gilmartin’s wisely resisting the temptation to boost revenue with risky, low-margin work. Instead, his focus is on improving profit margins and cash generation. This should make Wood Group a better-quality business. The company’s half-year results suggest to me that he’s making progress. Although revenue fell 4.8% to $2,844m compared to the first half of 2023, adjusted operating profit for the half year rose 14.2% to $102m. Cash flow from operations also rose 29.3% to $51m on an adjusted basis. Wood Group hasn’t yet reached a point where it’s generating surplus cash to fund debt repayments or dividends. But it’s getting closer. Gilmartin left his financial targets for 2024 and 2025 unchanged at the half-year mark and expects to report “significant free cash flow” in 2025. Why it could be too cheap Broker forecasts I’ve seen suggest Wood Group could generate $136m of surplus cash in 2025. Comparing this estimate to the company’s £925m market-cap gives me a forecast free cash flow yield of 11%. As a rule of thumb, I’d consider anything above 6% to be potentially cheap. But there’s a catch. Wood Group has more than $1bn of net debt. That’s a bit too high for my liking. If the company hits its free cash flow targets, I expect a lot of this cash to be used to repay debt. A return to dividend payments could take longer. However, the firm’s debt problems are no secret. They’re one reason why the stock’s trading more than 40% below its book value, which I estimate at 245p per share. If Gilmartin can rebuild Wood’s profits and cut debt, I think the share price could bounce back towards that 245p level. Based on a recent price of 135p, this could turn 55p invested today into 100p. Wood Group still faces turnaround challenges, and its order book could shrink if oil and gas markets slow. Debt remains a risk, for now at least. The company also has nearly $300m of historic liabilities relating to asbestos compensation payouts. These are expected to continue to at least 2050. Even so, I think most of the risks are now reflected in the share price. If Wood Group’s recovery continues as expected, I reckon the shares could perform well from current levels. |
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