tejo
12 Mar 2015
Impact of very weak euro Does anyone know whether Smith has any currency hedges in place, please? I am very concerned that the excellent operating performance is going to be wiped out by adverse currency movements due to the collapsing euro. Loathe to sell but maybe the best straegy and buy back later? Views most welcome.
nk1999
26 Feb 2015
Investec "Investec: ‘buy’ DS Smith after ‘sensible’ acquisitionAnalysts have applauded DS Smith’s (SMDS) proposed purchase of Austrian packager Duropack for €300 million.Investec analyst Thomas Rands retained his ‘buy’ recommendation and raised his target price for shares in the maker of corrugated cardboard and recycled paper from 365p to 410p after it announced the deal on Monday.Rands said: ‘DS Smith has found what looks to be a sensible, well-placed mid-sized European acquisition for a reasonable valuation of 7.3x pre-synergy EBITDA [earnings before interest, tax, depreciation and amortisation],’ he said. ‘Post completion, our full-year 2016 net debt/EBITDA will increase to 1.7x providing sufficient firepower for further acquisitions.’He added: ‘Unfortunately, the incremental profits are offset by the recent adverse FX [foreign exchange] movements, leading to minimal earning per share upgrades. However, our target price increases to 410p and we remain buyers.’"From Citywire.
tejo
23 Feb 2015
What's up I agree entirely with your conclusions Share Gardener. Continue to believe that this is an attractive share to own and with better growth prospects than most right now.
sharegardener
23 Feb 2015
Re: Whats Up? they sound up beat altogether about both the acquisition and Q3 trading on the conference call - but positive spin to be expected.FX movements will reduce sterling conversion of earnings but they are already increasing prices to offset higher costs. Presumably the acquisition will be cheaper in sterling terms unless they had already hedged at a lower euro rate.The same team that led the SCA integration will lead on Duropak. From due diligence done they expect good savings and no hidden extra capex.Theres always a danger from acquisitions not producing the expected synergies especially if debt costs rise and forex moves the wrong way but it looks like the management have their heads screwed on imho.SG
Boring Bernie
23 Feb 2015
Re: Whats Up? Looks like the reason for the rise might have been a bit of information leaking about the Duropack acquisition ? All looks fine in the Trading Updat
tejo
18 Feb 2015
what's up? I am surprised at rise in sp since results should be adversely affected by weak euro. Happy nevertheless.
tejo
18 Feb 2015
what's up? I am surprised at rise in sp since results should be adversely affected by weak euro. Happy nevertheless.
Boring Bernie
17 Feb 2015
Re: Whats Up? Cheers LewI just had a look at that, Jefferies have upped their target to 360p.We can't be a million miles off being due off an IMS, they're normally out early March so we'll get a decent idea of how things are progressing th
lew mannheim
17 Feb 2015
Re: Whats Up? Upgrade to Buy from Jefferies
raptor66
17 Feb 2015
Re: Whats Up? Some bid rumours, parallel to Rexam ????
jake_walker
17 Feb 2015
Whats Up? Apart from the share price?Jake
nk1999
17 Jan 2015
Berenberg "Packaging manufacturer DS Smith (SMDS) has been downgraded to "hold" from "buy" by Berenberg Bank. The broker said that the company had demonstrated its ability to generate value in a highly competitive market, but that the stock's recent gains and lack of movement in earnings expectations limit future upside. The shares dropped by 3.9p to 319.4p."From UK-Analyst.
gamesinvestor
09 Jan 2015
Re: this looks a bargain BUT LG -- You have to be kidding me no?Unbroken Revenue and Profit growth over 7 yearsDividend increased from 4.6p to 11.27p in 5 yearsMost successful acquisition of a Swedish packaging company for a very long timeAnticipated consolidation in the European packaging sector 3.5% yield and covered by cash flow?Surely your machine can do better than this -- or have you some knowledge to suggest DS Smith has got it all horribly wrong?Games -- Come on LG I expect more from such a seasoned chartist.
oggs
29 Dec 2014
Re: this looks a bargain BUT Love a bit of incisive analysis
lambrini girl
28 Dec 2014
Re: this looks a bargain BUT SELL..target £1..
