Does anyone have any feelings for Yule Catto?

I sold short on CFD a few weeks back but now they seem to be on the way back up.
They seem to be building support at 240 and are testing the 270.

If any has any opinions on which way they're heading, I greatly appreciate.

Graham

Broker update and they look very positive....

Yule Catto & Co PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Collins Stewart
31-03-09 BUY 12.00 15.30

ABN AMRO
30-03-09 BUY 24.48 12.46 28.40 14.46 3.61

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 24.48 12.23 0.00 28.40 14.88 3.61
1 Month Change 0.00 -0.00 0.00 0.00 0.00 0.00
3 Month Change -6.77 -1.97 0.00 0.00 0.00 0.00


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS -14.19% -44.67% 21.69%
DPS 3.19% % %

INVESTMENT RATIOS

2008 (A) 2009 (E) 2010 (E)

EBITDA 54.66m 49.04m 52.28m

EBIT 39.22m m m

Dividend Yield 14.11% % 5.25%

Dividend Cover 2.28x x 4.12x

PER 3.11x 5.62x 4.62x

PEG -0.22f -0.13f 0.21f

Net Asset Value PS -66.84p 57.23p 68.11p

Yule Catto & Co PLC

SUMMARY CHARTS DIRECTOR DEALINGS FORECASTS WIRES
2009 2010
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Collins Stewart
31-03-09 BUY 12.00 15.30
ABN AMRO
30-03-09 BUY 24.48 12.46 28.40 14.46 3.61

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)
Consensus 24.48 12.23 0.00 28.40 14.88 3.61
1 Month Change 0.00 0.00 0.00 0.00 0.00 0.00
3 Month Change -6.77 -1.97 0.00 0.00 0.00 0.00


GROWTH
2008 (A) 2009 (E) 2010 (E)
Norm. EPS -14.19% -44.67% 21.67%
DPS 3.19% % %

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)
EBITDA 54.66m 49.04m 52.28m
EBIT 39.22m m m
Dividend Yield 13.38% % 4.98%
Dividend Cover 2.28x x 4.12x
PER 3.28x 5.93x 4.87x
PEG -0.23f -0.13f 0.22f
Net Asset Value PS -66.84p 57.23p 68.11p

the stock is trading on a prospective P/E of just over 9 to 2010 year end results which is practicaly a 'give away', derd cheap imho. Way too low rated.

Yule Catto & Co PLC

FORECASTS
2009 2010

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

ABN AMRO
22-12-09 BUY 39.02 20.04 37.58 19.19 4.80

Collins Stewart
14-12-09 BUY 22.80 19.50

2009 2010
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 39.02 21.27 37.58 19.33 4.80

1 Month Change 39.02 -1.53 37.58 -0.17 4.80
3 Month Change 6.00 4.11 4.95 2.51 0.63

Notes to forecasts
(19 Oct 09) A flag refers to outlook


GROWTH
2008 (A) 2009 (E) 2010 (E)

Norm. EPS -14.19% -3.77% -9.12%
DPS 3.19% % %

INVESTMENT RATIOS
2008 (A) 2009 (E) 2010 (E)

EBITDA 54.66m 64.84m 60.21m

EBIT 39.22m m m

Dividend Yield 6.02% % 2.98%

Dividend Cover 2.28x x 4.03x

PER 7.28x 7.57x 8.33x

PEG -0.51f -2.01f -0.91f

Net Asset Value PS -66.84p 45.27p 59.70p

Posted by Pro TAer Zak Mir late yesterday...

Zak Mir



Reged: 28/06/07
Posts: 1185
Re: YULE CATTO & CO (YULC)
#459146 - 05/01/10 04:32 PM Edit Reply Quote



Chart wise it looks like we have something of a give away as well as on fundamentals in the sense that while above the March support line at 150p on a weekly close stop loss basis the upside for the shares is a 2009 resistance line projection target of 200p over the next three months.

YULC Yule Cato....

TA looks very positive......



Broker upgrade aswell.......

target SP .....210p

upside........14.1%

Yule Catto & Co Basic Materials Overwt/In-Line 210 184 14.1% Morgan Stanley

Results this week showed expected recovery and excellent cash generation produced earlier than expected debt reduction to below 100M. Strong presence in Asia and management looks to have performed well after shocks of 2008. Quietly confident about 2010, so imo should make eps between 20p and 25p, which in turn makes them look decent value below 2 but always DYOR

Big upgrade just out aswell partridge.....

17/03/10 Yule Catto & Co Basic Materials Buy t=284 curr=180 upside=57.8% Collins Stewart

Interesting chart at Yule Cato YULC.

Looks like a trading Buy here and maybe a lot more later.

Looks like a few agree with you today gf, although I am in for the longer term. May be a bit of a read across from strong Victrex results the other day.

This stock is way too cheap trading on a forward P/E of just over 7 to 2011.

A miserly rating...........

Yule Catto & Co PLC

FORECASTS 2010 2011

Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Brewin Dolphin
09-07-10 ADD 43.00 21.50 5.00 45.50 24.30 6.00

The Royal Bank of Scotland NV
08-07-10 BUY 45.54 22.91 5.40 54.35 27.34 9.66

Altium Securities
10-06-10 BUY 43.00 22.80 5.00 53.00 28.10 7.50

Collins Stewart
06-05-10 BUY 21.40 25.40

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 43.00 22.86 5.00 53.75 26.68 7.50

1 Month Change 0.00 1.29 0.00 1.32 1.07 0.00
3 Month Change -0.30 1.41 -0.20 5.24 1.28 0.03


GROWTH
2009 (A) 2010 (E) 2011 (E

Norm. EPS 1.42% -4.87% 16.72%
DPS % % 50.00%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 63.80m 66.65m 73.23m

EBIT 49.13m m m

Dividend Yield % 2.62% 3.93%

Dividend Cover x 4.57x 3.56x

PER 7.95x 8.36x 7.16x

PEG 5.58f -1.72f 0.43f

Net Asset Value PS -52.86p 59.24p 79.05p

Talking of earnings figures this stock is on a real stingy rating of just 7.5 P/E to 2011.

Must be one of the cheapest well managed stocks around.

Yule Catto Forecasts

Year Ending Revenue (m) Pre-tax (m) EPS P/E PEG EPS
Grth. Div Yield

31-Dec-10 584.45 43.12 22.03p 8.6 2.5 +3% 5.13p 2.9%

31-Dec-11 614.66 49.52 25.47p 7.5 0.5 +16% 7.11p 4.0%

Strong interim results today. Looks like they should make eps 25p this year, with large exposure to Asian markets. Double dip recession the danger, but appear well managed. IMO now good value below 250p, but always dyor. I hold.

Recently announced "compelling, transformational" takeover of Polymer Latex for 376M, part funded by rights issue to raise 225M. Market reaction positive and YULC has been excellent performer, having doubled in the last twelve months. History shows such deals can indeed be very lucrative (e.g Croda takeover of Uniqema a few years ago) but history also littered with takeovers which have not worked and I have sold sufficient to recover initial outlay just in case. Always dyor.

Something to do with the rights issue???

EDIT
Have just seen the RNS:
StockMarketWire.com
Yule Catto shareholders have approved the 4 for 3 rights issue of 194.2m shares at 116p and the acquisition of PolymerLatex Deutschland Beteiligungsgesellschaft.

Missed this over the xmas period.

Date Broker name New Price Old price target New price target Broker change

16-Dec-10 Brewin Dolphin Buy 202.79p 400.00p - Upgrade

400p SP target.

Good news here though.... Robbie Burns back on market this afternoon after hols...........

I took up the excellent Yule Catto (YULC) rights issue so that gives me 2,666 more Yule shares at 116p and on the spreadbets that gives me another 65 a point at 116. Looks like a brilliant buy for Yule which will transform it into a much bigger company and looks like an excellent hold probably for a couple of years. I would expect to see the shares double from here in time.

http://www.nakedtrader.co.uk/index.htm

GF - Well done, looks like you have timed your entry brilliantly. Unfortunately I was erring on the side of caution with a limit buy @ 222.0 ensuring 200 DMA broken. Chances are now with that broker upgrade and if Indices have a good surge early doors that entry will be blown away. So will wait and see how it plays out. Take it you opted for quarterly spread bet?

Cheers Chris

Yep chris. I dont hold these days for so long.

How did you go on with that MACD memo I sent you?.

Cheers GF brilliant thanks!

Chris youl find itws flagged IOM up. Looks like positive macd divergenc on this one. not got through all the list yet.

Cheers GF.