21:41 10/10/2016 Pension
Posted this on the GKN website but thought it worth a read for Smiths investors. I was a Smiths investor but sadly sold out too early :- The article is worth a read to put the whole thing in context. GKN features in the article alongside BAE, BT, Barclays, G4S and others. What's striking is that GKN has the largest relative pension to the size of it's business and as the article highlights the threat to all these companies dividends, GKN seems to also stick out as it has the highest payout ratio of 74% -- next nearest is Smiths with a payout ratio of 65%. I discounted Shell which has a payout ratio of 616% -- i.e. it's nowhere near covered. enjoy :-- https://www.ft.com/content/a0cf5e4a-7980-11e6-a0c6-39e2633162d5 Games
10:51 28/09/2016 Re: : LKH
ARS - Obviously went to a 'Comprehensive School' with talk like that (Blinded by science ?! ..............springs to mind) Unlike the Jock who went to the school of hard knocks.
8:54 28/09/2016 What, in the name of all that's holy, is ....
... "a gated programme management process"? There's an awfy lorra jargon in the new feller's results thingy ... I hate words like "geographies" and "verticals" but, all in all, these results weren't too bad. Even John Crane did a bit better than might have been expected, and cash flow, which is the all important thing, was up a bit. Happy to hold. LKH at the LK Wash & Valet
10:53 21/09/2016 John Crane - ULVA
Time to buy, going cheap !
13:02 31/08/2016 Re: : nk
Just goes to prove how meaningless this current JPMC Valuation of Smiths Group is. This time last year they had a valuation of only #12.50 per share. Yet the 2016 predicted profit will be less than 2015, despite this their valuation miraculously goes up some 20%. Totally ridiculous ! Unless there is a major 'corporate upheaval' which is not mentioned or considered ?! Thank heavens for ROE !
20:16 30/08/2016 JP Morgan Cazenove
From ADVFN: "Smiths Group's shares gained on Tuesday as JP Morgan Cazenove reiterated an 'overweight' rating and lifted the price target to 1,585p from 1,300p. JP Morgan said the technology company's 2016 financial year ended on a "very positive note", with the trading update on 9 August indicating that full year operating profit was well ahead of consensus expectations of #473m, although below the 2015 level of #511m. "The full-year (July year-end) results on 28 September are to be accompanied by the presentation of the new management team's strategic vision for the group and we expect this, together with good results for 2016, to provide a further stimulus for the shares to continue to outperform the sector," JP Morgan said. "With 18% upside to our price target and the prospect of the positive news flow continuing, we are reiterating our 'overweight' recommendation." JP Morgan raised its 2016 revenue and earnings per share forecast by 2% to #2.93bn and 81.7p respectively, given the movement in exchange rates. The broker said Smiths is trading at a "substantial discount" to the sector in terms of price-earnings ratio and enterprise value/ earnings before interest, tax and amortisation multiples "despite the prospect of delivering an operating profit margin more than 400bps above the average for our universe"."
17:26 12/08/2016 Re: Trading Update............
Took my profit on these today,sold one hour ago at 1351.04. Having purchased in two blocks at 1280.825 and 1,302.70 in April and May 2014 (I was partially swayed by Questor buy recommendation!!) It's been a tough ride over last two years or so but whether I chose the "right" share to sell to raise funds for my daughter only time will tell. Nett gain of 7.04percent but a profit is a profit ! Nice weekend all TJ
21:50 09/08/2016 Re: Trading Update............
Just happy to see SMIN at these levels, up over 40 percent since the start of this year. I was well underwater. Now I am just happy to be showing a paper profit at last. 5% of my slightly less shrunken wad here so I am breathing a sigh of relief. I have a feeling that I am going to need funds for my daughter and her family in the next few weeks so maybe it will time to cash in these chips. Regards TJ
20:14 09/08/2016 Uncalled For Optimism
It's largest revenue contributor continues to struggle and the exuberance in the detection segment is nothing permanent or sustainable, the stock is fairly priced at the most, although tilted towards overvalued side, http://bit.ly/2b4foJb good for dividends, so holding is not a bad idea, but i don't think initiating a new position on the back only smallest segment delivering consistent growth is a good idea, so much diversification in a single company has hardly delivered much appreciation
13:41 09/08/2016 NEW ARTICLE: Smiths' break-out boosts recovery
" Engineering conglomerate LSE:SMIN:Smiths Group has beaten expectations against a tough backdrop thanks to its strong detection business and weak sterling. It wasn't enough to inflate profits, but the shares have broken out of their bullish ..." http://www.iii.co.uk/node/345356
10:26 09/08/2016 Re: : LKH
The sad truth is that the 'Bonus Culture' is based on Management expectations which ensure the 'Top Guys' get millions in bonus for under achievement by any normal standards. This year's under achievement should result in no bonus for anybody, but the reality is something totally different ! I'm waiting for the Obvious Potential to be found,.............. still seems to be well hidden
8:49 09/08/2016 Re: Trading Update............
Ivorjay, Yes, confusing indeed. My takeaway is that margins are under pressure so it's quite surprising that the price has popped up given that this year is expected to be worse than last year.I have zero interest in management's "expectations". I really only keep holding this puppy for an extremely bad reason ... at some stage someone will take it over. Bring it on! LKH at the LK Wash & Valet 2.1% of wad in SMIN
8:24 09/08/2016 Trading Update............
Well that was confusing, if only you could understand what it all means. Answers on a postcard ................... However, it does seem to say that if it wasn't for ROE it would have been poor ! Hopefully this gets reflected in the executive bonus payments. It's surprising the share price is holding up so well, although re-entry to the FTSE 100 must be helping !
13:10 02/05/2016 Pumps
Let just hope this rumour is all that it is ! Seems like management desperation... ... firstly detection & now possibly more medical pumps. Both areas in which Smiths have suffered................ Whatever happened to clear potential !
13:30 22/04/2016 Panmure Gordon note - Research Tree
Read Panmure Gordon & Co's note on SMITHS GROUP, out this morning, by visiting https://www.research-tree.com/company/GB00B1WY2338 "We believe the new management is taking increasing risks with the balance sheet to counter years of underinvestment. The Detection business, which has been losing market share for years, faced a sharp fall in revenues. Morpho fills a technology gap but we doubt there was much competition for this asset because our analysis shows that Morpho has also been losing market share. While the music is playing (money is cheap), we fear the management will continue to dance as other divisions also need to buy profits. Once the music stops ..."