Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BODYCOTE PLC. We currently have 42 research reports from 4 professional analysts.
|19Apr17 09:12||PRN||Correction : Annual Financial Report announcements|
|13Apr17 16:32||PRN||Holding(s) in Company|
|31Mar17 16:30||PRN||Total Voting Rights|
|30Mar17 07:00||RNS||Directorate Change|
|21Mar17 07:00||PRN||Annual Financial Report announcements|
|16Mar17 09:33||PRN||Director/PDMR Shareholding|
|10Mar17 15:08||PRN||Holding(s) in Company|
Frequency of research reports
Research reports on
N+1 Singer - T2 Trend spotting - Strategy update
31 Mar 17
In our second edition of “Trend spotting” we note how in the last three weeks the defensive rotation trend has gathered pace and further evidence has emerged of the “relative fading” in the UK economy. However we now see early signs of the “risk on” trend starting to reassert itself in equity markets and we look at small cap laggards plus European exposure as ways to play this.
N+1 Singer - Morning Song 31-03-2017
31 Mar 17
Cathay International Holdings Limited (CTI LN) FY results: Solid trading at Lansen; negative impact from FX and Haizi | CVS Group (CVSG LN) Excellent interims. Reappraising mid-term earnings potential | Dechra Pharmaceuticals (DPH LN) IP licensing agreement and minority investment | eg solutions (EGS LN) Significant contract win | Entertainment One Ltd (ETO LN) Trading update for YE Mar’17 | Harwood Wealth (HW LN) £10m new equity to maintain impressive pace | iomart Group (IOM LN) Year end trading update | Mobile Streams (MOS LN) The start…| Oxford Pharmascience Group (OXP LN) FDA feedback: clinical outcomes data required for GI safety claim | Speedy Hire (SDY LN) In line trading update | T2 Trend spotting Strategy update | Imperial Innovations Group (IVO LN) H1 results: solid portfolio progress and net fair value gain
Panmure Morning Note 01-03-2017
01 Mar 17
Bodycote has underperformed many of its UK engineering peers in the past because it followed the unfashionable trend of not having a massively leveraged (sorry, efficient) balance sheet. Unperturbed, the management has stuck to the basic principle that ROCE and a sound balance sheet are key to long-term shareholder value creation. Today, it is not reliant on Trump or some other macro event to get it out of a hole. The good news that after a long period of inactivity, the management believes that there are now opportunities to invest as opposed to returning excess cash to shareholders. Our estimates assume no acquisitions, so the risks to forecasts are on the upside. We raise our target price to 872p, which values the stock at 10x 2017 EBITDA which is conservative given that some of the heavily-indebted stocks like Weir are trading on 18x EBITDA. The fact that Bodycote will also benefit from any cyclical upturn in energy and commodity markets is a bonus.
N+1 Singer - Bodycote - 2016 results slightly ahead, notable pick up in Q4 activity
28 Feb 17
Bodycote has reported 2016 results slightly ahead of expectations, with adjusted PBT of £97.0m vs. our forecast of £96.5m and consensus of £96.0m. Encouragingly the group saw a notable pick up in activity in Q4, which bodes well for 2017. This is echoed in the positive outlook, with management confident in the business’ agility to respond to market conditions and the group well-placed to take advantage of an upturn in its markets.
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)