Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on COATS GROUP PLC. We currently have 8 research reports from 1 professional analysts.
|20Apr17 16:13||RNS||Holding(s) in Company|
|03Apr17 10:31||RNS||Total Voting Rights|
|10Mar17 09:32||RNS||Annual Financial Report|
|02Mar17 12:41||RNS||Director/PDMR Shareholding|
|01Mar17 14:46||RNS||Director/PDMR Shareholding|
|01Mar17 07:00||RNS||Total Voting Rights|
|27Feb17 10:25||RNS||Director/PDMR Shareholding|
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Research reports on
COATS GROUP PLC
COATS GROUP PLC
FY16 ahead, estimates nudged up
10 Mar 17
A busy year for Coats concluded with progress on earnings and pensions. There is more to be done on both but with pension distractions substantially resolved and good cash credentials there are more strategic options available to management. The valuation has begun to normalise now and the return to dividend payment contributes to this.
Pensions progress and dividend returns
19 Dec 16
Coats has agreed terms (subject to final settlement) for two UK defined benefit (DB) pension schemes, representing 90% of UK DB scheme liabilities. This clarifies the underlying balance sheet position and ongoing cash profile. Coats retains a strong financial position, with good earnings growth prospects and a likely return to the dividend list from FY17.
Increasing business focus to highlight valuation
17 Aug 16
Operating performance was more in focus in H116 given relatively lower-level distractions from non-trading items. Underlying margin increases were achieved by both divisions with little overall assistance from markets. Greater clarity on the group pension position – and the implications for future strategic investment and dividend payouts – is edging closer. Valuation multiples are little changed and remain low on P/E and EV bases.
Mixed trading conditions, further pension progress
19 May 16
Trading in the first four months of FY16 largely mirrors management’s balanced outlook comments with the FY15 results, and EBIT guidance is unchanged. We have reduced PBT estimates slightly to reflect the latest pension scheme recovery plan update. Progress in resolving legacy issues is welcome and the large Coats scheme is next to be addressed.
31 Mar 16
Coats Group’s rating does not reflect its global market position, which is being further developed by business investment. The resolutions of legacy issues (chiefly pensions and environmental) have seen some forward steps over the last year and more are expected during FY16. Although the timing and extent of these are still to be determined, they will bring greater clarity to the company’s underlying valuation.
On track for FY15 progress
20 Nov 15
Recent group trading has been broadly in line with H1, albeit with some variation within the detail. Our estimates are unchanged and will be reviewed again at the year end. P/E multiples remain in single-digits from FY16. We note Coats’ intention to delist from ASX and NZX next year.
The tide is turning
20 Apr 17
Any investor worth their salt knows it is impossible to precisely call a bottom in a particular stock. For Gattaca, though, we believe this moment has now passed given the compelling valuation (6.9x EV/EBIT vs 9.8x sector average), attractive 9.8% unlevered cashflow yield and constructive secular trends supporting its specialist markets. Sure, Net Fee Income (NFI) like-for-likes (LFL) have fallen of late, yet equally there are now early indications that organic growth may soon turn positive.
19 Apr 17
We take a look at the supply and demand dynamics of the world’s largest diamonds. Less than 200 very large (>200 carat) gem quality diamonds have ever been found, yet 23 of these have been found in the past three years. This dramatic increase is being driven by a combination of the rapid increase in the number of billionaires and hence price and demand, combined with technological developments that have improved large diamond recovery and a certain amount of geological good luck.
Small Cap Breakfast
19 Apr 17
Global Ports Holding—Intention to float on Standard List. International cruise ports operator. Seeking $250m raise including $75m primary offer. Dorcaster—Schedule One Update. Admission now expected 3 May. RTO of Escape Hunt raising £14m at 135p Verditek— Intention to float on AIM. On Admission, the Company's subsidiaries will be involved in advanced solar photovoltaic, filtration and absorption technologies specialising in providing environmental services. Raising £3.5m. Admission in May. Eddie Stobart Logistics— Schedule 1. Admission expected 25 April but capital raising details TBC. ADES International Holding— Intends to join the Standard List in May raising up to $170m plus a vendor sale. Provider of offshore and onshore oil and gas drilling and production services in the Middle East and Africa. Admission expected in May. Tufton Oceanic Assets– Offer extended to 9 May to enable investors to complete further due diligence.
19 Apr 17
Lombard Risk Management* (LRM): Beats demanding growth and profit forecasts (CORP) | Frontier Developments* (FDEV): Steaming ahead (CORP) | Tax Systems* (TAX): Right place, right time (CORP) | Acal (ACL): Stronger H2 and brighter outlook (BUY) | Fenner (FENR): Interim results signal upgrades (BUY) | Minds + Machines* (MMX): US and Europe domain sales (CORP)