John Templeton Style 


John Templeton was an American-born British businessman and investor, who led the way in the use of globally diversified mutual funds. He preferred fundamental analysis and was known for "avoiding the herd".

UK stocks that meet the following criteria:

Return on Assets exceeds 10%  |  Positive latest Operating Profit margin  |  Positive latest EPS growth  |  Latest and forecast PE Ratio less than 12x


John Templeton Style 


John Templeton was an American-born British businessman and investor, who led the way in the use of globally diversified mutual funds. He preferred fundamental analysis and was known for "avoiding the herd".

UK stocks that meet the following criteria:

Return on Assets exceeds 10%  |  Positive latest Operating Profit margin  |  Positive latest EPS growth  |  Latest and forecast PE Ratio less than 12x

Latest Content

Utilitywise

Fog on the Tyne begins to clear. Raise to buy.

Adoption of IFRS15 validates our modelling At long last UTW may have crossed the Rubicon, to build on our riparian metaphor. IFRS15 may have forced the issue, but far from wiping out the P&L, we believe that it has more accurately rebalanced the apportionment of accruals between the P&L and the balance sheet. This, finally allows us to have confidence enough in our valuation to raise our target price (88p from 74p) and our recommendation (Buy from Hold). On 31 Jul’17 UTW announced a restatement of historical revenues, accruals and PBT that deflated all of them materially, giving distributable retained earnings a thorough kicking. We have long argued that such a restatement was inevitable, but taking the hit in the balance sheet means they will miss the 2017 dividend (to which the market has reacted with customary alacrity). Last year’s net assets (as restated) now has only £12m of distributable retained earnings, which will be pushed in negative territory in FY’17 due to the huge exceptional charge generated by the restatement. This is good, not bad in our view, not least as they have also increased their provisioning to a safer 20% (up from 15%). The classic profile of high-accruers like UTW is to pump up the balance sheet and then blow up on the write back to equity. In the case of UTW, the share price has now fallen 85%+ from its peak during the “pump up” period, and we show in this note how a potentially valuable business emerges as the fog of overstated earnings begins to clear.

  • 01 Aug 17
  • -
  • -

Real-time access to the latest equity research, for the first time.

📑🔎📊📈

Historically, Private Investors have had access to significantly less professional investment research and information than institutions, funds, and banks. At Research Tree, we're trying level that playing field by aggregating the latest equity research & video content from 367 analysts at 31 city brokerages and research houses in one platform. 

 

Our goal is simple: provide retail and non-institutional investors with full access to the latest valuations, target prices, analysis, and financial models on the companies they care about, in real-time.

 

Our Partners

🏛

Research Tree aggregates the latest equity research from 367 analysts at 31 city brokerages and research houses in one platform, giving users full access to the latest valuations, target prices, analysis, and financial models on the companies they care about, in real-time.