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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
|
|
|---|---|---|---|---|
| 2.10 | 3.18% | 68.05 | 11:05:02 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 66.00 | 66.00 | 68.35 | 65.95 |
| Industry Sector |
|---|
| OIL EQUIPMENT SERVICES & DISTRIBUTION |
| Top Posts |
|---|
Posted at 05/12/2024 19:18 by thisisnotaspoon My quasi-informed opinion is that Wood never seems to react much to short term news about contract wins. It's business is selling engineering hours to execute projects, there's always news, it's just background noise.It's share price is therefore just a reflection of how far off the big investors believe it is from paying dividends again. And that's only really affected by quarterly/annual reports like last month.Look back 7 years and the share price is £7.50 and it's paying 27p dividends. It's turnover back then was just over $6 billion, it's currently just under $6 billion. It's very small margins though a few percent off it's costs or a few percent on the market rate for it's services and it's in profit.My bad idea is buying a lot of shares now, wait 5 years and hoping that at some point the market swings back in it's favour or it gets bought out. |
Posted at 03/12/2024 13:35 by kingston78 When institutional investors buy these shares the price will motor. |
Posted at 14/11/2024 15:45 by chutes01 Settled around 50pStagnation into the NY as investors discover the extent of damage |
Posted at 14/11/2024 07:13 by arcteryx Agreed. No doubt some punters will be interested in a gamble here, investors less so, until more clarity is provided. |
Posted at 12/11/2024 16:29 by chutes01 Now they have cost institutions and investors billions |
Posted at 12/11/2024 16:17 by bri15 On the basis investors are now buying! |
Posted at 09/11/2024 22:12 by mj19 While management is confident about annual profit, news that Deloitte is carrying out an independent review of the business is a big red flag for investors.Positives: Pursuing energy transition contractsSubject to a previous takeover attempt Negatives:Deloitte accounting reviewUnderlying customer investment can be volatile and uncertainThe average rating of stock market analysts:Buy |
Posted at 09/11/2024 22:12 by mj19 view:Started in 1982, the Aberdeen headquartered company today employs more than 30,000 people. The USA generated its biggest slug of sales during 2023 at 24%, with other significant contributors including the UK at 13%, Canada 6%, Australia 5% and Saudi Arabia at 4%. Previously announced contract wins have included support for a major offshore clean power project in Germany, engineering work for a green hydrogen project in Spain, along with helping oil major BP BP.2.15% with its Murlach North Sea development. For investors, the company has refreshed its strategy, wanting to target likely growth areas such as hydrogen and carbon capture, simplify the business and cut costs. However, a review of the group's accounts could raise discrepancies which then impact future profits. Expected year-end group net debt of $694 million compares to a current stock market value of £327 million. Ongoing uncertainty over the economic outlook continues to cast a shadow over energy demand and therefore required infrastructure, while any escalation of global geopolitical tensions could potentially disrupt group operations. Despite a previous attempted takeover of the company, renewed M&A interest is less likely right now given the circumstances. |
Posted at 09/11/2024 16:46 by morgancivils I did that, and that's what I got. I think if you bought around the 70p range you will soon get your money back. He said they are working hard to assure the big investors that the ship is in good shape & the commissioned audit will prove this. So sit tight for now. |
Posted at 21/8/2024 03:16 by ashkv Please note the above savings have already been done away with due to higher salaries and significantly more headcount if you take the trouble to read the full interim results..Below is an article in the FT post an interview with WG's CEO. What he is conveying is almost a copy paste of what the chap was spouting a year back / circa 2023 - when net debt was USD 500m less - as of yesterday' interim net debt is within touching distance of USD 1bn... John Wood Group boss pledges growth as pressure mounts after share plunge UK engineer’s chief executive Ken Gilmartin rules out switching listing to New York despite activist pressure John Wood Group has faced pressure to sell itself, with some investors thinking it would have more flexibility to execute its recovery strategy as a private company Lukanyo Mnyanda in London YESTERDAY The boss of UK engineer John Wood Group has insisted the company can deliver growth and boost the share price after it plunged this month following the collapse of a second takeover bid in just over a year. Ken Gilmartin, who has been chief executive at the group since July 2022, also ruled out moving the company’s listing to New York, despite pressure from a leading investor activist. Sparta Capital Management said earlier this year that Wood should “actively seek alternative” solutions to its UK listing, which included switching to New York. Gilmartin said this would not be a “cure” for Wood’s problems. The company’s shares fell almost 40 per cent two weeks ago after Dubai-based Sidara, known as Dar Al-Handasah, walked away from a plan to acquire Wood for 230p a share, citing “geopolitical risks and financial market uncertainty” as global markets plunged. Wood’s share price has barely moved since then, although it gained 1 per cent to 134p after the company unveiled an 8.5 per cent jump to $219mn in its first-half adjusted earnings before interest, taxes, depreciation and amortisation on Tuesday. Sidara’s failed takeover bid followed a similar move by US private equity company Apollo Global, which decided against pursuing a deal for Wood in May 2023. Apollo’s 240p-a-share bid had at the time valued Wood at about £2.2bn, including debt. The stock has fallen 20 per cent since the start of the year, giving Wood a market capitalisation of £927mn. Although the company has developed plans to improve costs and pricing, the weak share price has put pressure on management to speed up plans to deliver growth. Gilmartin told the Financial Times that the company had a bright future on its own and that he was confident of winning back investor confidence by delivering on a pledge to cut debt and generate “significant&r “The one piece that investors will ask [for] will be that return to positive free cash flow,” Gilmartin said. “And when we can return to that sustainable free cash flow, which is front and centre on everything that we do . . Wood has faced pressure to sell itself as some investors believe it would have more flexibility to execute its recovery strategy as a private company. It has also been under pressure to move its listing from London. Gilmartin said the company had considered but rejected such a move. “Is that going to be the thing that cures all of the issues that you have?” he said. “We need to continue to grow. We need to do that sustainable free cash flow piece [and] deliver on that. The listing doesn’t fix that.” |
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