Consensus eps falling…falling…falling…rising 2.0
29 Apr 16
In January we screened for companies with estimates that had been declining consistently since a year previously, but which had risen in the immediately preceding three months (see our note dated 22 January 2016). We have reviewed the performance of those companies and, given the overall strength of this selection, we have re-run the screen. In the c.3 months since selection, the unweighted average rise was c.34% against a c.11% rise in the main All-Share index. From the same universe as before (some 900 companies) we find 38 companies selected by the screen. We note a number of stocks in the list where we have a supportive stance including: Devro (DVO LN, Buy), James Fisher (FSJ LN, Corporate), Mattioli Woods (MTW LN, Buy) and Spirent Communications (SPT LN, Buy).
VSA Morning Miner
15 Oct 15
Hochschild (HOC LN) has announced strong Q3 2015 production numbers although his has been overshadowed by the announcement of a rescue rights capitalisation. HOC has raised net proceeds of £61m which will be used to strengthen the balance sheet and pay down debt. The issue price represents a 48% discount to the last close via a three for eight issue of 138m new ordinary shares at 47p/sh. Production of 7.6moz of attributable