Market's view on Hunting
Published on April 2024
- EBITDA for Q1 2024 surpassed management’s expectations, reaching approximately $28.9 million, an increase from Q1 2023’s $22.4 million.
- Stock watchers questioned the rationality of the stock market as the share price declined by 4% despite positive financial news.
- Forward PE (Price-to-Earnings) ratios solicited interest among stock watchers.
- A newly released research report confirms progress in line with FY24 targets, with Q1 EBITDA considerably higher year-on-year and strong revenue growth noted.
- Hunting’s order book at the end of March was slightly lower by about $21 million due to larger order completions, yet remains strong historically at $544 million.
- Updated PE and DCF valuation suggests a fair value of 436p per share for Hunting, indicating a potential 20% increase above the current share price.
- Positive comments on the trading update, with no issues identified.
- Mention of a stock analyst highlighting potential for good growth at a reasonable price, though not considered a “hold forever” stock.
- Recent stock movements suggest the beginning of an upward trend over the next six months.
- Observations of increased stock activity and volume indicate potential upcoming significant market movements.
- The company’s performance in FY23 was strong, with a notable increase in EBITDA and revenue, leading to significant profits and dividend growth.
- Stock watchers expressed concerns about stock volatility and its perception by ESG-focused investors.