Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on NORTHLAND POWER INC. We currently have 27 research reports from 1 professional analysts.
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NORTHLAND POWER INC
NORTHLAND POWER INC
COMPLETES ALL TURBINE INSTALLATION AT GEMINI PROJECT
24 Aug 16
Impact: Neutral. This announcement is in line with our prior expectations as we have estimated precompletion revenues to continue to escalate throughout the final construction phases. We believe this announcement will further de-risk potentials suitors views of Northland's offshore wind potential in Europe. Recall, Northland initiated a strategic review process on July 12, 2016.
Reports 2Q16 Results
12 Aug 16
Northland missed on some expectations in the quarter, but it continues to get good results with its project management. The Company continues to advance its $6 bn construction portfolio on budget; construction at both Gemini and Nordsee One continues to proceed ahead of schedule. As announced on July 12, Management is pursuing strategic alternatives for the Company’s next phase as well as new projects around the world. We maintain our 12-MTP of $25.00/share and Market Perform ranking.
REPORTS 2Q16 RESULTS
10 Aug 16
Impact: Neutral. Northland missed on some expectations in the quarter, but it continues to get good results with its project management. The Company continues to advance its $6 bn construction portfolio on time and budget; both Gemini and Nordsee One continue to hit their marks. Management has left its previous FY2016 EBITDA guidance range of $500 mm to $530 mm unchanged. As announced on July 12, Management is pursuing strategic alternatives for the Company's next phase.
Seeks Strategic Alternatives
13 Jul 16
Northland Power announced on July 12, 2016 that it was pursuing strategic alternatives. Although there are a number of alternatives open to Northland, we think the most likely outcome is a sale of the Company.Northland has an asset development team that can turn projects into cashproducing assets, which we think will be attractive to potential buyers.With the Company focusing on near-term liquidity rather than long-term dividend sustainability, we have raised our 12-month target price to $25.00/share, which reflects a 2019 cash on cash yield of ~9%, or an 11x multiple of the free cash flow we expect in FY2019.
PURSUING STRATEGIC ALTERNATIVES
12 Jul 16
Northland Power announced on July 12, 2016 that it was pursuing strategic alternatives to "review the options available for the next phase of the company's growth" and has retained financial advisors for this purpose. Northland believes this review is appropriate as it pursues the next phase of growth. Management still intends to advance its current ~$6 bn in construction projects in progress and pursue a 'business as usual' mentality until its future direction is determined.
SETTLES DISPUTE WITH CONTRACTOR H.B. WHITE
07 Jul 16
On July 7, 2016, Northland announced its agreement with H.B. White Canada Corp. (HBWC) to settle all disputes and claims with regards to five ground-mounted solar projects in Ontario. At the same time, HBWC announced that it has filed CCAA in Ontario in concurrence with the settlement with Northland. The settlement agreements are conditional upon the CCAA proceeding receiving approval, after which, Northland would receive $6 mm, as well as other relief. Northland also anticipates that with CCAA approval, all liens and filed claims relating to Northland will be dropped by HBWC. All arbitration proceedings have been halted until the CCAA ruling.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Small-cap quantitative research - Momentum screen refresh + 10 focus stocks
12 Jan 17
We have refreshed our momentum style screen for the first time since inception on 26 July 2016. As before, the screen selects the 25 stocks exhibiting the most extreme momentum characteristics, according to our measurement method. From these we have selected 10 to focus on. Since inception the screen has underperformed both the main small-cap and micro-cap indices against a background of generally rising momentum. We have noted a subset of the basket, where decelerating momentum at the time of measurement appears correlated with significant share price falls since selection. We shall monitor this factor with the new screen, albeit there are only two such stocks showing this pattern, namely Lamprell (not rated) and Gear4music (not rated).
N+1 Singer - Morning Song 12-01-2017
12 Jan 17
As anticipated, the second half has again been stronger than H1 and results will be broadly in line with expectations. In line with this, the order book has continued to grow and is at record levels. This confirms that significant progress has been made in the Group’s shift towards its Technology Products division which, as targeted, contributed c.60% of group revenue in FY16. The small acquisition of Cable Power also gives a complementary boost to the product range. It is also worth noting the significant reduction in net debt, £1.0m ahead of our forecast. We remain supportive of the Group’s strategy and continue to see a bright future as this transition towards a design led technology solutions business continues. We look forward to more detail in March at the final results.
Upgrade on positive year-end trading update
10 Jan 17
The group has announced a positive year end update, with a stronger finish to the year delivering sales slightly better than expectations. Operational gearing results in a 7.5% increase in EPS. Cash generation is significantly better than expected. As a result, we increase our price target from 205p to 254p, based on a fair value P/E of 12.0x for 2017. With healthy growth set to carry on, the shares should continue to show robust momentum, with the potential for a special dividend an additional positive.
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.