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    AHT   GB0000536739

ASHTEAD GROUP PLC

(AHT)
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FTSE ends little changed, support from mining stocks

03/30/2017 | 12:40pm EST
A worker shelters from the rain as he passes the London Stock Exchange in London

LONDON (Reuters) - Britain's FTSE 100 <.FTSE> ended little changed on Thursday with mining stocks providing the most support, while stocks trading without their dividends weighed on the market.

The benchmark index edged down 0.06 percent as several heavyweight stocks went ex-div: Old Mutual (>> Old Mutual plc), Schroders (>> Schroders plc), Smith & Nephew (>> Smith & Nephew plc), and Prudential (>> Prudential plc) fell between 1.2 percent and 1.7 percent.

However, the mining sector - boosted by strong metals prices - provided support. Glencore (>> Glencore PLC), Rio Tinto (>> Rio Tinto plc) and Anglo American (>> Anglo American plc) gained between 1 percent and 2.3 percent.

Also dragging on the FTSE, SSE (>> SSE PLC) shares fell 1.5 percent after the energy supplier said dividend cover for its 2017/18 financial year would be at the lower end of guidance.

The London Stock Exchange (>> London Stock Exchange Group Plc), fresh from disappointment over a planned merger with Deutsche Boerse <DB1Gn.DE> being scuppered by the EU antitrust regulator, was up 0.8 percent.

"While a takeover of LSEG is not central to our positive thesis, we acknowledge that industry consolidation and the takeover potential should provide valuation support and is helpful to our positive thesis," RBC analysts said in a note, resuming coverage of the stock with an "outperform" rating.

Among other gainers, Ashtead (>> Ashtead Group plc) rose 2.4 percent after Liberum initiated coverage of the construction equipment rental company with a "buy", saying rental penetration in the U.S. market would drive growth for its North American segment, which contributes 86 percent of revenue.

"The upside potential from increased rental penetration in the U.S. market is yet to be fully reflected in Ashtead's share price, in our view," Liberum analysts said.

Among standout mid-cap movers, Petra Diamonds (>> Petra Diamonds Limited) surged 9.7 percent after it refinanced its debt, while RPC (>> RPC Group PLC) slumped 7.7 percent with one trader saying a lack of detail over its guidance disappointed investors.

Small-cap Carr's Group (>> Carr's Group PLC) dropped 17 percent, its worst losses for 16 years after the agriculture and engineering firm cut its expectations for full-year performance.

Analysts said the market was waiting for Britain to set out its plan for converting EU laws into domestic law in a White Paper later on Thursday, and EU Council President Donald Tusk to give negotiating guidelines to the 27 member states by Friday.

Investors called for a renewed focus on fundamentals ahead of the long Brexit process.

"We have got a minimum of two years, and realistically much longer, to figure out how it all falls into place," said Ian Williams, economics and strategy analyst at Peel Hunt.

"We are in completely uncharted territory, many things can change. So from an equity standpoint all you can do is take a step back and look at your companies, and at the macro picture."

(Additional reporting by Danilo Masoni; Editing by Louise Ireland)

By Helen Reid


© Reuters 2017
Stocks mentioned in the article
ChangeLast1st jan.
AMP LIMITED 0.00% 0.92 End-of-day quote.-41.03%
ANGLO AMERICAN PLC 6.49% 2995 Delayed Quote.15.49%
ASHTEAD GROUP PLC 4.29% 6464 Delayed Quote.77.78%
CARR'S GROUP PLC 4.79% 153 Delayed Quote.11.58%
CHANGE INC. 3.72% 1979 End-of-day quote.-43.86%
FTSE 100 1.49% 7339.9 Delayed Quote.11.95%
GLENCORE PLC 3.12% 368.35 Delayed Quote.53.30%
LONDON STOCK EXCHANGE PLC 1.85% 6712 Delayed Quote.-26.84%
MSCI UNITED KINGDOM (STRD) 1.42% 1140.665 Real-time Quote.8.65%
NEXT PLC 2.44% 8380 Delayed Quote.15.44%
OLD MUTUAL 0.00%End-of-day quote.-8.98%
PETRA DIAMONDS LIMITED 4.58% 68.5 Delayed Quote.-33.15%
PRUDENTIAL PLC 1.03% 1320 Delayed Quote.-3.01%
RIO TINTO PLC 4.80% 4813 Delayed Quote.-16.04%
RPC GROUP PLC 0.00%End-of-day quote.21.56%
RPC, INC. 2.80% 4.395 Delayed Quote.35.87%
S&P UNITED KINGDOM (PDS) 1.40% 1468.36 Delayed Quote.13.07%
SCHRODERS PLC 0.66% 3498 Delayed Quote.3.21%
SET 1.33% 1609.28 Real-time Quote.9.58%
SMITH & NEPHEW PLC 1.35% 1280 Delayed Quote.-16.36%
SSE PLC 0.52% 1639 Delayed Quote.8.70%
STEP CO.,LTD. 3.93% 1850 End-of-day quote.15.84%
TULLOW OIL PLC 6.14% 44.92 Delayed Quote.43.07%
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Analyst Recommendations on ASHTEAD GROUP PLC
More recommendations
Financials
Sales 2022 5 589 M 7 393 M 7 393 M
Net income 2022 980 M 1 297 M 1 297 M
Net Debt 2022 3 875 M 5 126 M 5 126 M
P/E ratio 2022 28,0x
Yield 2022 0,83%
Capitalization 27 560 M 36 441 M 36 456 M
EV / Sales 2022 5,62x
EV / Sales 2023 5,09x
Nbr of Employees 19 386
Free-Float 97,6%
Chart ASHTEAD GROUP PLC
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Ashtead Group plc Technical Analysis Chart | AHT | GB0000536739 | MarketScreener
Technical analysis trends ASHTEAD GROUP PLC
Short TermMid-TermLong Term
TrendsBearishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 19
Last Close Price 6 198,00 GBX
Average target price 6 574,21 GBX
Spread / Average Target 6,07%
EPS Revisions
Managers and Directors
Brendan Horgan Chief Executive Officer, COO & Executive Director
Michael Pratt CFO, Treasurer & Executive Director
Paul Ashton Walker Non-Executive Chairman
Lucinda Jane Riches Independent Non-Executive Director
Tanya D. Fratto Independent Non-Executive Director
Sector and Competitors
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HERC HOLDINGS INC.159.36%5 108
AIR LEASE CORPORATION-4.19%4 851