Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on LOW & BONAR PLC. We currently have 26 research reports from 3 professional analysts.
|01Feb17 11:34||RNS||Total Voting Rights|
|01Feb17 07:00||RNS||Final Results|
|16Jan17 12:07||RNS||Second Price Monitoring Extn|
|16Jan17 12:02||RNS||Price Monitoring Extension|
|09Jan17 07:00||RNS||Notice of Results|
|05Jan17 16:40||RNS||Second Price Monitoring Extn|
|05Jan17 16:35||RNS||Price Monitoring Extension|
Frequency of research reports
Research reports on
LOW & BONAR PLC
LOW & BONAR PLC
Gathering strategic momentum
15 Feb 17
FY16 was a year of good underlying progress diluted by one underperforming business unit. We believe that FY17 is likely to more clearly demonstrate gains from strategic and operational execution, as seen in our upwardly revised estimates. Consequently, we expect the re-rating that began a year ago to continue.
N+1 Singer - Low & Bonar - Positive results; small upgrades
01 Feb 17
A solid set of final results from LWB, with the positive areas remaining strong and the operational inefficiencies from H1 having been largely eradicated. We have upgraded FY17 PBT forecasts by 5% and continue to feel that latent value can be extracted, particularly if the operational issues that have affected results in past periods can be completely resolved. We feel that this should be an opportune time to invest on a P/E of c.10x FY17 and retain our Buy recommendation and 81p TP.
N+1 Singer - Morning Song 01-02-2017
01 Feb 17
A G Barr (BAG LN) In line YE update but growth outlook continues to look pedestrian | Cello Group (CLL LN) US$5m Acquisition & £15m Placing | Henderson Alternative Strateg Delivering non-correlated returns | Low & Bonar (LWB LN) Positive results; small upgrades | Quantum Pharma (QP LN) Reassuring FY trading update
N+1 Singer - Morning Song 03-11-2016
03 Nov 16
blur Group (BLUR LN) Q3 trading update | Earthport (EPO LN) Approval for outbound services for banks in India | Eckoh (ECK LN) Appointment of new CFO | H&T Group (HAT LN) FY16e to exceed expectations on impact of higher H2 gold price | Howden Joinery Group (HWDN LN) In line FY16 but strengthening headwinds result in FY17 downgrades | Low & Bonar (LWB LN) Solid Update | SDL (SDL LN) Disposal of campaigns business; more to come | Spirent Communications (SPT LN) Progress but revenue remains lumpy | Wilmington Group (WIL LN) Q1 In-line
N+1 Singer - Capital Goods - Backdrop suggests upgrades ahead
09 Sep 16
Our latest review of the UK capital goods sector suggests a more positive outlook for our stocks, echoing the more hopeful picture we identified at the start of the year (Best Ideas 2016, 4 January). While growth remains very low, key indicators suggest a slight improvement for our universe by the end of 2016. More significantly, weak sterling is set to provide a materially bigger boost to sales in H2 than in H1 if FX rates are maintained. This does not appear to be reflected in consensus forecasts, which have also seen their first quarterly upgrade in Q3 to date after four years of quarterly downgrades. Share prices have risen sharply through 2016, taking our weighted sector P/E to c.20x. However the sector does not look expensive relative to the market, trading on its normal premium to the FTSE All-Share. To identify the best prospects we have assessed end market commentary from overseas capital goods groups, track records of growth and introduced quant screens relating to profitability and cash generation. Given the more positive tone to our findings, we have a number of Buy recommendations, but only one Sell. In this note we summarise the main inputs into our sector view, along with overviews of our coverage and some interesting non-coverage stocks.
N+1 Singer - Morning Song 09-09-2016
09 Sep 16
Avon Rubber (AVON LN) Reassuring year end trading update; potentially strong year in prospect | Capital Goods Backdrop suggests upgrades ahead | CORETX (COR LN) Small disposal and directorate changes | Dechra Pharmaceuticals (DPH LN) US product launch | Greene King (GNK LN) Mixed AGM update | Summit Therapeutics (SUMM LN) Interim results highlight continued progression
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
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.
21 Feb 17
Lighthouse Group* (LGT): Middle Britain growth (CORP) | Utilitywise* (UTW): Double-digit sales growth (CORP) | Trakm8* (TRAK): Earnings expectations cut again (CORP) | dotDigital* (DOTC): Myriad growth opportunities (CORP) | Artilium* (ARTA): Five-year Telenet deal secured and prepaid (CORP) | Netcall* (NET): Cloud investment pays off (CORP)
Emerging from the clouds
16 Feb 17
Rolls-Royce’s underlying performance in FY16 was ahead of both its own and market expectations. Media focus on the non-cash £4.4bn headline FX loss is missing what looks to be the basis for optimism. As the civil model starts to move from investment in engines for the A350 and A330neo into the aftermarket delivery phase over the remainder of the decade, we think cash flow is likely to improve, particularly if supported by an eventual recovery in Marine.
N+1 Singer - Small-cap quantitative research - New quality style screen + 11 quality focus stocks
09 Feb 17
We introduce our fourth and final style screen representing “quality”. This screens for stocks with the best combination of high returns on capital/equity, EBIT margins and operating cash-flow conversion rates. These criteria should help us monitor how strong underlying returns translate into share price performance over time and under varying market conditions. The screen selects the “best” 25 stocks from our universe of just over 500 stocks and, as usual, we focus on a shorter list of stocks we cover or otherwise know and believe to be particularly interesting. We provide brief investment summaries on these focus stocks on pages 4 – 9. We will monitor performance and refresh the screen in approximately 3-4 months time.