Eagerbeaver66
12 Mar 2018
Re: Rights Rhigos, I would have thought it's rather difficult to make a meaningful assessment of GFRD KPIs, while the rights issue is imminent and outstanding, since those figures could easily change by +/- 20% overnight with the dilution. - Having said that, the figures have ratios changed by about 10% in the last few hours anyway!
Rhigos
12 Mar 2018
Re: Rights Oversold IMHOFrom SharePad: (fc=forecast)Broker Consensus: Outperform, target price +38.9%Valuation: fc PE 5.2 (3yr avg 9.2), Price/NAV 1.3 (3 yr avg 1.9), Price / FCF 6.7 (3yr avg 24.4), EBIT yield 21.6% (3yr avg 12.7%)FORECAST GROWTH %: Turnover 6.6%, EBIT 13.9%, Pre-tax 18.8%, Norm EPS 4.1%Above growth forecasts apart from Pre-tax all down on 3 year averages.SAFETY: Int cover 7.3, Gearing 132% (rights issue should fix), FCF conv 80.5% (V good), Piotroski 4 (average).Dividends: fc Yield 10.2% (1st Quartile), fc Div cover 1.9 (3 yr avg 1.6), fc Growth -6.5%, Yrs growth 8.Quality: Capital t/o 1.9 (3yr avg 2.4), ROE 23.0% (3yr avg 16.7%), ROCE 11.2% (3yr avg 13.7%), CROCI 8.5% (3yr avg 6.5%).Valuation fundamentals in particular suggest to me that GFRD is undervalued. Of course all forecasts are just that and things might not turn out the way that professional analysts expect. My view is that all the news about Carillion has had such a negative influence on the sector that GFRD is now a bargain particularly as it sits in two sectors and house building has certainly not gone out of fashion!
wheebz
12 Mar 2018
Re: Rights Is this not just a case of their broker pumping up the price pre rights issue announcement? Should we expect another fall post or has the market realised the business has been massively oversold?
kapita
12 Mar 2018
Rights Looks like the rights issue will spill over into the new ISA year, which is useful. Looks like a surge in price at the moment. Hold tight.
pearlsasinger
07 Mar 2018
Increase in shorting WorlQuant LLC have joined in the fun;total short positions disclosed now is 1.16%- at 1st March.This probably explains recent share price retreat.
Bloodshot
06 Mar 2018
From Construction Enquirer... Galliford Try has taken on two Carillion directors to strengthen leadership and drive growth at its highways business. Duncan Elliott, who previously headed up Strategic Highways with Carillion for nine years, joins as managing director of the Highways unit within Galliford Try’s Infrastructure Division. His experience also includes 16 years in various roles with Alfred McAlpine to operations director level. Former Carillion directors Duncan Elliott and David Bates join Galliford Try Galliford Try has also appointed David Bates as commercial director for Highways. He also joins from Carillion where he held a similar role. Nick Salt, Managing Director of Galliford Try Infrastructure, said: “We’re in a position to provide a focus and resource to our clients that can’t be matched by some of our competitors who are committed to major programmes such as HS2.†As a Collaborative Delivery Framework contractor for Highways England, Galliford Try is currently engaged in the Smart motorways programme on the M1 in joint venture with Costain. Galliford Try has also recently started work for the same client on a £24m contract to build a new junction on the M49 near Bristol and is progressing the Lincoln Eastern bypass under the Midlands Highways Alliance.
Bloodshot
06 Mar 2018
...Theres no point in hiding problems. The truth will out sooner or later so why not be honest and up front about it.
Bloodshot
06 Mar 2018
I guess we'll find out soon enough how much that will cost. Don't see it as part of the recent problems and I guess beyond the control of the present board. Last thing we need now is more bad sentiment. I hope they've already made provisions in the present fund raising. I'm still positive about the future of the company but we can't keep having problems. We need continued good news now for a couple of years for the share price to recover. I think better communication to investors (all investors, not just the big institutional ones) would be good. There's nompoint in hiding problems
white_van_man
03 Mar 2018
Re: Big Drop Sorry, don't know what happened there, should have read against a sub-contractor.
white_van_man
03 Mar 2018
Re: Big Drop Little snippet in The Times puts the fall down to them losing a legal case against a sun-tanned,But cannot find out anything about it.
wheebz
03 Mar 2018
Re: Big Drop The analysis by Phil ( don’t you want me baby ) Oakley is a really clear and well explained piece. It seems both logical and pragmatic. Probably the most useful post of encountered on iii in many years. Certainly compared with the juvenile drivel I’ve come to expect on the LLO discussion board. Thanks for sharing 10/10.
Triggers broom
02 Mar 2018
Re: Big Drop Decent article by Phil Oakley on the current value and upcoming rights issue. Doesn't explain the recent falls since it was published on Wednesday but these days the market seems to over react to everything.[link] - holding long and strong.
Grill Bimsie
02 Mar 2018
Re: Big Drop Details of the rights issue/placing are due to be announced soon. I suspect some details may have 'leaked' and a bit of insider selling may be going on (? just a theory).Cheers,
Eggbaconandbubble
02 Mar 2018
Re: Big Drop Not so sure about the cold weather argument. All the other house builders are showing blue this am.I am still trying to research GFRD and get my mind around what is happening generally but the issues are with their construction division. Morrison.A good detailed explanation posted on ADVFN message #4320 by 'Callahan'.
stillere
02 Mar 2018
Re: Big Drop usual big drops in cold weather in this business - often at end of the nose.the sun will shine again
