Spirax-Sarco Engineering (SPX)

Sector:

Engineering

Index:

FTSE 100

9,784.00p
   
  • Change Today:
    -48.00p
  • 52 Week High: 9,988.00p
  • 52 Week Low: 7,330.00p
  • Currency: UK Pounds
  • Shares Issued: 73.61m
  • Volume: 144,329
  • Market Cap: £7,202m
  • RiskGrade: 203

Sector movers: Engineers pace gains

By Alexander Bueso

Date: Thursday 09 Aug 2018

LONDON (ShareCast) - (Sharecast News) - Cyclicals were pacing gains in the market on Thursday, with Industrial Engineering and Industrial Metals&Mining leading the advance.
Within the former, investors were continuing to bid shares of steam systems engineer Spirax Sarco higher a day after the release of its first half numbers.

The company posted a 28% jump in revenue to £547.6m, with organic growth for the six months ended 30 June put at 7%.

Adjusted operating profit meanwhile was ahead 24% to £125.7m or 15% higher on organic terms, while its adjusted operating profit margin fell 60 basis points to 23%.

Nevertheless, not everyone was on board, with analysts at Numis having reportedly downgraded their recommendation on the shares from 'add' to 'hold', although they kept their target price at 7,000p.

The broker's analysts conceded the company's long-term track record merited a "significant premium" versus the sector and said they could see upside risks to their revised estimates.

However, they cautioned that "recent share price run has pushed Spirax to a PER of 27x, which means we struggle to see sufficient upside on a 12 month view to maintain our Add rating."



Ferrexpo meanwhile was responsible for gains in Metals&Mining, with the shares coming off their 52-week lows, possibly helped by speculation of improved pricing for iron ore in the third quarter.

62% Fe iron ore prices had rising for a third week last week, averaging $67.34 per tonne, and while it had struggled to climb past $68 per tonne since March, there were upside risks present for the third quarter outlook, according to analysts at Metal Bulletin.

Those included ongoing high crude steel production and weak domestic iron ore supply.

"The Chinese government has announced that the winter cuts will be put in place again this year, from the start of October until the end of March this time, restricting capacity utilization at 50%. Our experience from last winter's cuts is that although production was dampened in specific regions in the north China, total national output still grew as mills operating in other regions more than compensated for the production losses."

Top performing sectors so far today

Leisure Goods 7,968.89 +2.40%

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Industrial Metals & Mining 5,007.70 +1.32%

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Bottom performing sectors so far today

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Automobiles & Parts 10,837.93 -0.74%





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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

SPX Market Data

Currency UK Pounds
Share Price 9,784.00p
Change Today -48.00p
% Change -0.49 %
52 Week High 9,988.00p
52 Week Low 7,330.00p
Volume 144,329
Shares Issued 73.61m
Market Cap £7,202m
RiskGrade 203

SPX Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
97.08% below the market average97.08% below the market average97.08% below the market average97.08% below the market average97.08% below the market average
94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average94.29% below the sector average
Price Trend
83.97% above the market average83.97% above the market average83.97% above the market average83.97% above the market average83.97% above the market average
85.37% above the sector average85.37% above the sector average85.37% above the sector average85.37% above the sector average85.37% above the sector average
Income
94.73% below the market average94.73% below the market average94.73% below the market average94.73% below the market average94.73% below the market average
82.61% below the sector average82.61% below the sector average82.61% below the sector average82.61% below the sector average82.61% below the sector average
Growth
23.50% above the market average23.50% above the market average23.50% above the market average23.50% above the market average23.50% above the market average
42.11% above the sector average42.11% above the sector average42.11% above the sector average42.11% above the sector average42.11% above the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 8
Sell 0
Strong Sell 6
Total 15
sell
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SPX Dividends

  Latest Previous
  Final Interim
Ex-Div 23-Apr-20 10-Oct-19
Paid 22-May-20 08-Nov-19
Amount 78.00p 32.00p

Trades for 02-Jun-2020

Time Volume / Share Price
16:50 1 @ 9,758.00p
16:50 11 @ 9,758.00p
16:37 355 @ 9,757.87p
16:35 51,103 @ 9,784.00p
16:29 3 @ 9,792.00p

SPX Key Personnel

CEO Nicholas John Anderson
Chair Jamie Pike

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