The Agriculture and Engineering Group.
13-Nov-2017 – 146p – £133.4m – PER 13.2
Full Year Results For The 12 Months To 2 September 2017 – Revenue up 9.9% to £346.2m but reported PBT is down 29.0% to £10.0m, with adjusted EPS down 18.3% to 8.9p. Net debt of £14.1m versus £8.1m in Cash last time. Trading for 2018 is currently in-line with the Boards expectations.
Just not encouraged here even though Stockopedia loves it, with a StockRank of 95.
9-Jan-2018 – 124.1p – £113.4m – PER 10.5
Trading Update For The 18 Week Period To 6-Jan-2018 – In-line and pleased with how FY 2018 has commenced. Net Debt is up from £14.1m to £19.0m.
Even on a PER of 10.5, looks about fairly priced to me.
16-Apr-2018 – 137.25p – £125.5m – PER 11.0
Interim Results For The 6 Months To 3 March 2018 – Significant improvements, expecting FY to be slightly ahead of expectations.
Looks quite good but just wondering if the upside is capped at 160p. Not sure there’s enough here to push it through yet, will keep an eye on a break-out.
18-Jul-2018 – 165p – £150.8m – PER 13.0
Trading Update For The 17 Week Period To End June 2018 – Trading slightly ahead of expectations, FY to be slightly ahead of expectations.
Looks like this was anticipated by some with the price up 10% yesterday! I will continue to sit on the side-lines here and keep an eye out for improving ROCE and Operating Margin.
12-Nov-2018 – 156p – £142.6m – PER 11.5
Results For The 12 Months To 1st September 2018 – Revenue up 16.5% to £403.2m (2017: £346.2m), Adjusted PBT up 45.2% to £16.6m (2017: £11.4m), Fully Diluted EPS 12.7p (2017: 7.6p) – Net Debt is £15.4m (2017: £14.1m), the Total FY Dividend will be 4.5p (4p last time).
Looks like decent value here, just concerned the forecasts for next year are so low – I remain Neutral but will keep an eye out for updates.