gretel
12 Oct 2015
Forecasts increase, P/E of only 8.6 Equity Develoment have upgraded to 8.5p EPS this year and 10p EPS next year: "Hayward Tyler (AIM:HAYT)This morning Hayward Tyler announced the immediately earnings enhancing acquisition of the trade and assets of the Peter Brotherhood business from Dresser-Rand Company Ltd, a Siemens-owned business, for a total consideration of US$15 million (cash). Peter Brotherhood is a UK engineering business specialising in steam turbines, reciprocating gas compressors and combined heat and power units for the power generation, oil and gas and marine markets. As a result of the acquisition, consensus EPS forecasts have increased by around 6% in the current year (year to March 2016) to 8.5p, and by 10%+ in the following year to around 10p."
gretel
12 Oct 2015
RNS : terrific, cheap acquisition Excellent news - large earnings-enhancing acquisition bringing in new clients and a well-known brand name.Paying just $15m for $3.2m operating profit is rather cheap....[link] addition, "The assets include an 11.5 acre freehold property in Peterborough, all of the plant and machinery, transferring book debts and stock", so all in all this deal looks blooming great.
gretel
02 Oct 2015
Oryx buying more, above 20% now Wow - RNS out showing that Oryx/North Atlantic are now above 20% and have bought another 2.75m or so shares:[link] like they've bought out the remainder of Standard Life's holding from their 22nd September RNS, so a big overhang has been cleared.Could be time for a big re-rating if all goes well. Soon HAYT might even be on a P/E of more than single figures....
II Editor
24 Aug 2015
NEW ARTICLE: Delayed publication of Trends and Targets for 21/08/2015 " HAYWARD TYLER PLC. (LSE:HAYT) With an epic like HAYT, what's not to like? We often bang on about Glass Ceilings and Hayward Tyler have a cracker. Currently trading around 85p, if this lot manage to close a session above 95p then it's about ..."[link]
gretel
05 Aug 2015
Tipped today by Finncap Finncap have today released their Q3 Industrial Technology sector note. In it they review the entire sector, and highlight just three companies as key picks as "companies that can remain master of their own destiny", of which HAYT is one:"Hayward Tyler*. The business has been transformed over the past couple of years, with significant cost reductions and supply-chain changes to make the group more efficient and flexible. We see tremendous potential in HAYT’s powergen markets as developing nations remain deficient of high quality electricity, and HAYT’s leading-edge super-critical boilers are gaining market share. Its nuclear aftermarket exposure through safety regulation is non-cyclical. For HAYT, the oil and gas market is a positive feature, not a negative one, with potential to gain traction in a huge customer base via its MOU with FMC Technologies. The group’s recent AGM pointed to building momentum in order intake and the Luton Centre of Excellence project, targeting a doubling of capacity highlighting the medium-term upside."
gretel
04 Aug 2015
Moving up Buying at 88.65p and 88.4p now - looks like breaking up into the 90p's for starters towards that "conservative" 113p target price.
gretel
30 Jul 2015
Analyst update - Buy with 113p target WH Ireland have updated as follows, saying Buy with a 113p target:"Hayward Tyler*: Luton update and new contract wins (CORP)The group has won £13.5m of new orders in the first quarter across the nuclear, power and oil & gas sectors, including an agreement with GE Oil & Gas for the supply of a subsea motor. This solid level of order intake represents growth of 14% ahead of the same quarter last year. The second and final tranche of funding for the secured loan note has been issued, raising £1.4m (before costs) in order to support the development of the Luton Centre of Excellence. The development project is on track and on budget and due to complete by July 2016. Foundations have been laid and the construction of the test beds recently started. It will enable increased throughput, reduced lead times, lower working capital and enable a doubling of capacity. No change to forecasts.We consider the shares have yet to catch on to the massive potential the recent MOU with FMC Technologies has to offer in terms of its scope to tap into FMC’s own customer base and create a substantial new revenue stream in the oil and gas sector.Once this potential is converted into new customer contracts, the shares should rerate to a significantly higher level.We retain our conservative 1-year price target of 113p, based on a target P/E of 14x; compared with the current rating of 10.6x, this offers attractive upside"
gretel
30 Jul 2015
Excellent update today - all on track at Luton- large new orders received- order book well ahead of last year- in particular, a first order from GE for a subsea motor. These are presumably the ones that sell for £1m+, so repeat orders from the likes of GE would bring a step-change in revenues.Hopefully this good news will see a breakout for the share price.
gretel
26 Jun 2015
Moving up and looking really good online.You can currently sell at least 15k at 83.7p - above the mid-price! - whereas you can only buy a maximum 2,500 at 85p.There's clearly demand out there.
gretel
25 Jun 2015
Each FMC system sells for £1m+..... Great new interview with the CEO - just one of HAYT's systems sold to FMC will bring in £1m+.....[link] "when is this investment in the Centre of Excellence at Luton going to start to pay off?To which the answer is: it is already starting to pay off, as can be verified by FMC Technologies, the global market leader in sub-sea systems, choosing Hayward Tyler earlier this year to manufacture permanent magnet motors for use in FMC's 3.2 megawatt sub-sea pump systems.“Each of these units is worth one-million-plus, which is around three to four times the normal cost of our units, so you can do the maths,” Ewan Lloyd-Baker said in an interview with Proactive Investors. The Hayward Tyler boss was confident other deals would follow the FMC hook-up and that, over the medium term, 20-30% of Hayward Tyler’s revenues would come from the oil & gas sector. If he’s right, that should put paid to any concerns about revenues from the oil & gas sector drying up. It is all a matter of being patient, which is apparently a lot easier to do when one is the boss of a 200-year-old company, though house broker finnCap has also got the message.“Against the difficult oil sector backdrop, the recent alliance with FMC offers the potential for a scale increase in production,” the broker said in a research note on Tuesday. In the meantime, Lloyd-Baker pointed to very healthy order intake of £9.8mln in the first two months of the current financial year, with the orders derived from a range of geographies and a variety of sectors.“We’re becoming more competitive on the power side,” Lloyd-Baker asserted, and that increased competitiveness opens up lots of possibilities, especially in India and China. Now that the general election is out of the way in India and the economy is picking up, the company might start making more of a noise on the sub-continent, “where we’ve been a bit quiet lately”, Lloyd-Baker acknowledged. the afternoon, the shares had rallied to 82p, suggesting that the company’s message was getting through. House broker finnCap is forecasting earnings per share of 8.0p for the current financial year, putting the shares on a projected earnings multiple of 10.25, which finnCap says is a discount to its peers. finnCap’s calculations, the shares should be on a multiple of 14.1, which would imply a price of 113p.“The improving market outlook coupled with significant internal enhancements potentially provides significant scope for earnings growth in the current year and upside to the current valuation,” reckons finnCap analyst, David Buxton"
gretel
24 Jun 2015
Tipped in the IC Should provide a nice boost, particularly on Friday:"Hayward Tyler (HAYT) celebrated its 200-year anniversary by posting its best performance since listing in 2010. But despite original equipment and after-market revenues both growing 13 per cent due to strong power and nuclear markets, shares in the pump and motor manufacturer tumbled 5 per cent."It's been another year where we've exceeded expectations," says chief Ewan Lloyd-Baker, arguing the business was "marked down" for the market perception of its oil and gas exposure. At 8 per cent of revenues Mr Lloyd-Baker describes this part of the business as "small", and maintains that even a lower oil price is not enough to derail demand for the group's efficiency-boosting subsea and submersible motors. Nevertheless, delays in oil and gas infrastructure spending did hinder sales in Europe. There were no such problems for the group's core markets. Nuclear profited from a big order to replace nuclear parts at two South Korean reactors, while Hayward's power operations enjoy a bulging pipeline of new power plants in China and India. While the development of a new centre of excellence in Luton is expected to expand capacity and vastly improve efficiencies. Broker finnCap expects adjusted pre-tax profit of £5m in the year to March 2016, giving adjusted EPS of 8p (up from 7.5p in FY 2015). HAYWARD TYLER (HAYT) ORD PRICE: 81p MARKET VALUE: £37m TOUCH: 80-82p 12-MONTH HIGH: 95p LOW: 63p DIVIDEND YIELD: 1.6% PE RATIO: 12 NET ASSET VALUE: 34p* NET DEBT: 51% Year to 31 Mar Turnover (£m) Pre-tax profit (£m) Earnings per share (p) Dividend per share (p) 2011** 32 -3.1 -12.9 nil 2012** 33 1.3 1.2 nil 2013† 40 1.5 0.3 nil 2014 43 3.8 5.0 1.25 2015 49 4.4 7.0 1.32 % change +13 +15 +39 +5 Ex-div: 13 Aug Payment: 28 Aug *Includes intangible assets of £3.3m, or 7p a share **December year-end figures †15-month period IC VIEW: The shares are up 9 per cent on our buy tip (74p, 22 May 2014), yet trade on just 10 times forecast earnings. Given the strength of the business, and the exciting prospects of the new centre in Luton, we see no reason to change our tune. Buy."
tejo
23 Jun 2015
Results Surprising fall in sp after results and maybe people were hoping for a faster rate of growth. Hopefully the Luton facility will provide profit acceleration which needed to acjieve Finncap target, I feel
gretel
23 Jun 2015
Finncap say Buy with 113p target Finncap retain their forecasts and their 113p target, slightly adjusting EPS to 8p: "Hayward Tyler*: Full-year results (CORP)The results were broadly in line. A strong H2 performance was seen in the aftermarket operation, generating improved margins and adjusted EPS growth of 16%. Turnover increased by 13% to £48.6m. EBITDA increased by 15% to £6.4m. After adjusting for a fair value of a derivatives item of £0.29m, adjusted PBT was £4.65m, up 17% (compared with our forecast of £4.62m).Adjusted EPS increased by 16% to 7.5p. Net debt was £7.9m, improved by £0.5m. The final dividend was 0.79p, giving a full-year DPS of 1.32p, up 5%. Original Equipment (OE) sales increased by 12.5% to £19.7m with a FY loss of 0.27m but a 2H profit of £0.19m, after the 1H loss of £0.46m. Aftermarket sales increased 12.6%, driving profits up 18% to £7.6m with margins rising from 25.2% to 26.4%. Management is optimistic that conditions will remain strong in China and are improving in India. Against the difficult oil sector backdrop, the recent alliance with FMC offers the potential for a scale increase in production. We retain our existing profit forecasts for the current year, although we slightly reduce our EPS forecast from 8.1p to 8.0p. The improving market outlook coupled with significant internal enhancements potentially provides significant scope for earnings growth in the current year and upside to the current valuation. The valuation currently stands at a discount to the company’s peers on a P/E of 10.6x for 2016. We maintain our 113p price target, which is based on a target P/E of 14.1x, underwriting our enthusiastic view of the shares for the next year."
gretel
23 Jun 2015
Contract and partnership news coming New interview with the CEO - it all sounds extremely positive, particularly this hint of new contracts and partnerships coming soon: Http ://www.proactiveinvestors.co.uk/companies/stocktube/3879/hayward-tyler-ceo-on-collaboration-and-new-order-wins-3879.html "Lloyd-Baker says that strategic relationships are increasingly important, “collaboration” is the buzzword in his business and he expects to announce new partnerships in coming weeks. “Look out for exciting order wins from India in particular and also other players in the oil and gas market,” he said."
gretel
23 Jun 2015
Great results ahead of expectations Excellent results - and slightly ahead of expectations.7.5p EPS and 1.315p dividend compares to 7.4p and 1.3p dividend forecast, and PBT is just ahead of forecasts too.The outlook is also very promising, with even O&G improving since the year end and strong order intake.Given 8.1p EPS forecast this year HAYT look pretty cheap at present.
