Fisher (James) & Sons (FSJ)

Sector:

Commercial Transport

Index:

FTSE Small Cap

 340.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 371.00p
  • 52 Week Low: 245.50p
  • Currency: UK Pounds
  • Shares Issued: 50.50m
  • Volume: 7,293
  • Market Cap: £171.69m
  • RiskGrade: 237

Canaccord Genuity lowers target price on James Fisher

By Iain Gilbert

Date: Monday 12 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity lowered their target price on marine engineering services provider James Fisher from 625.0p to 550.0p on Monday, citing cyclicality as their primary concern.
Canaccord Genuity said James Fisher's business mixed multiple end markets - oil & gas, renewables, defence, nuclear, and civil - and highlighted that the past two years had been "challenging" for the group, with significant falls in margin, principally due to lower project activity due to the Covid-19 pandemic, certain sanctions-related impacts, and a number of internal goals.

However, the Canadian bank believes much of the difficulty has now been put behind the group, and that all of its key markets were now getting stronger over the next 12 months.

In addition, Canaccord also highlighted that Fisher generates a "significant part" of its revenue in USD and NKr, and said it also expects strength in USD to act as "a material tailwind" in the second half.

"Stronger earnings will go a long way to addressing concerns around the group's balance sheet; we expect peak net debt to be reached at the end of this year at 2.6x EBITDA, and for free cash flow to be strong enough in 2023E to reinstate the dividend," said Canaccord, which reiterated its 'buy' rating on the stock.

"We are cutting earnings, and our target to 550.0p (was 625.0p), but we are increasingly confident in the outlook for Fisher given the cyclicality of its end markets."



Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:


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.

 

FSJ Market Data

Currency UK Pounds
Share Price 340.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 371.00p
52 Week Low 245.50p
Volume 7,293
Shares Issued 50.50m
Market Cap £171.69m
RiskGrade 237

FSJ Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
51.2% below the market average51.2% below the market average51.2% below the market average51.2% below the market average51.2% below the market average
63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average63.64% below the sector average
Price Trend
71.24% above the market average71.24% above the market average71.24% above the market average71.24% above the market average71.24% above the market average
9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average9.09% above the sector average
Income Not Available
Growth
76.1% below the market average76.1% below the market average76.1% below the market average76.1% below the market average76.1% below the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average

What The Brokers Say

Strong Buy 3
Buy 1
Neutral 0
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

FSJ Dividends

  Latest Previous
  Interim Interim
Ex-Div 01-Oct-20 03-Oct-19
Paid 06-Nov-20 01-Nov-19
Amount 8.00p 11.30p

Trades for 31-Oct-2024

Time Volume / Share Price
16:35 3,456 @ 340.00p
16:35 1,524 @ 340.00p
16:35 1,067 @ 340.00p
16:35 9 @ 340.00p
16:35 15 @ 340.00p

FSJ Key Personnel

CFO Karen Hayzen-Smith

Top of Page