Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on SEVERFIELD PLC. We currently have 6 research reports from 2 professional analysts.
|21Mar17 09:28||RNS||Director/PDMR Shareholding|
|02Mar17 14:33||RNS||Holding(s) in Company|
|20Feb17 16:23||RNS||Holding(s) in Company|
|17Feb17 13:21||RNS||Director/PDMR Shareholding|
|14Feb17 14:29||RNS||Holding(s) in Company|
|24Jan17 15:30||RNS||Holding(s) in Company|
|19Jan17 16:26||RNS||Holding(s) in Company|
Frequency of research reports
Research reports on
N+1 Singer - N1S Trend spotting - Strategy update
08 Mar 17
In this new product we present some strategy theme updates arising out of our latest analysis of macro trends and economic data and our innovative Quant work. We also look at upcoming events and suggest topping up on some of our Best Ideas for 2017.
Margin targets met, new goals set
18 Jul 16
The achieved FY16 margin was as an ambitious target when set in 2013, but is now seen as a staging post to the new aim of doubling PBT by FY20. Our revised estimates track towards this. With double-digit earnings progress expected (and a PEG below 1x), plus a rising dividend profile, Severfield now clearly offers both income and capital growth attractions.
Set to outperform
03 May 16
Severfield’s rising UK order book and improving margins set a good tone ahead of FY16 results on 15 June. A recent capital markets event served to reinforce the margin development path that the company is on, with further progress targeted. Little of this appears to be factored into the share price currently and we believe the scope for outperformance is now significant.
Significant increase in UK order book
18 Feb 16
An in-line trading update states that Severfield’s UK and Indian JV operations and the group overall are performing as outlined in the H116 results. Both regions have seen improved order book positions, with a 33% increase in the UK since the beginning of November particularly noteworthy. While some cautionary industry comments were reiterated, we consider that the UK order position is a strongly positive development.
Margin momentum building
07 Dec 15
Severfield's delivery of higher margins is on track and operational improvements made are bedding in as some sector indicators are looking increasingly positive. Save for nudging up our dividend expectations, we have left estimates unchanged at this stage. We believe that improved order newsflow is in prospect and could become the share price driver.
Well positioned in improving markets
20 Oct 15
A recent in-line AGM statement and signs of improving sector demand both support expectations of further progress from Severfield. Order book levels and mix will be an important indicator of near term prospects but we believe that delivery of better margin on a rising revenue trend over the course of FY16 will bring mid-cycle prospects more into view. For now, the company rating reflects a still relatively early-stage earnings recovery.
N+1 Singer - Morning Song 21-03-2017
21 Mar 17
accesso Technology (ACSO LN) Full year results in line, but key trading months still ahead | Augean (AUG LN) Double digit growth in ’16, good start to ‘17 | Earthport (EPO LN) Interims show continued top line strength | Goals Soccer Centres (GOAL LN) Good momentum under new team. It’s now all about delivery | IQE (IQE LN) FY’16 results prompt further upgrades | Microsaic Systems (MSYS LN) Challenges in 2016, strategy remains in place | mporium Group (MPM LN) Funds raised to help execute strategy | RhythmOne (RTHM LN) Dawn of the independents | ScS Group (SCS LN) Strong progress on key growth initiatives albeit comps now toughen | Sinclair Pharma (SPH LN) FY results: EBITDA ahead, Instalift™ gaining pace | Vectura Group (VEC LN) FY (9-month) results
N+1 Singer - Augean - Double digit growth in ’16, good start to ‘17
21 Mar 17
Augean reported another year of double digit growth for 2016, with profits in line with our forecasts. Sales grew by 21% excluding landfill tax, while adjusted PBT grew by 18% to £7.1m before amortisation of acquired intangibles. DPS was increased by 54% to 1.0p, 25% ahead of our estimate. The business units made further strategic progress, with revenues from their top 20 customers increasing from 42% to 43% of the total, of which 88% was under contract or a framework agreement, increasing forward visibility. There has been an encouraging start to 2017 and management is confident of delivering another year of profits growth. The shares trade on undemanding single digit multiples, offering good value.