IPG - IPD Group

[Dona Ferentes]

following the results on the 30/8, IPG has moved UP, from around $4.60 mark to trading in the region of $5.00. With a bit of a lift in volume

and a director topped up.

goes ex- dividend on 19th, of 6.2c

@debtfree Sept comp comment

 

[Dona Ferentes]

@debtfree Oct comp comment

not much news . A director, Andrew Moffat sold 192,446 shares, which arose from a rebalancing of his various investment portfolios; he has advised the Board that he had no current intention to further sell shares.

YTD

 

[Dona Ferentes]

due to report next week.

not holding up well
ytd

.
dh,to

 

[galumay]

Like @finicky, I looked at this in depth recently, in comparison to SXE, as he found, it shares similar metrics. A good little business, but I think no meaningful difference in quality to SXE and I already hold a large position there at a much lower cost base. So it was a pass from me in the end. Definitely the sort of company I like to find though.

 

[Dona Ferentes]

are we there yet?

.
nh. tco

 

[finicky]

No signs yet that I can see. Looks like it wants to break the support level it found in June. Needs a positive daily candle pronto. Four days of negative increased volume. Someone getting a heads up or just skittishness? AGM 26 Nov.

FY24 results looked very good and outlook stated at that time:
"The outlook for our markets remains buoyant, driven by the transition to renewable energy, increasing demand from data centres and their energy requirements, the growing number of EV chargers, and a supportive legislative environment."

 

[Dona Ferentes]

@debtfree .

.
Michael Sainsbury, IPD Group Limited CEO, said: “We are pleased to remain on track to deliver another half of revenue growth in a challenging environment. Amidst the wider macroeconomic challenges in the commercial construction sector, we have seen our order book transition from daily trade to larger and more complex orders, which typically have longer lead times and less certainty around delivery timing. This has resulted in a proportion of orders that would previously have already become invoiced Revenue now sitting in our Order Backlog. We have made additional investments into our operating cost base to generate and deliver these additional orders, which will impact margins for 1HFY25. Our operating cost base however is well placed to service future growth.

 

[finicky]

Down to a tempting level value wise imo, undecided about the chart. Won't be biting as cash continues to feel like a life-raft.
But from management comment it looks like revenue is just deferred to H2 due to complexity, and lower margin will be due to investment in capacity. At minumum ROE = 15%. Gearing low. i imagine it is worth 3x book value which was 1.46 end of FY24, so worth around $4.50?

Not Held

DAILY

 

[Dona Ferentes]

Down to a tempting level value wise imo, undecided about the chart.

seems to have weathered the tempest, the slough; won't buy but may tip for Dec comp.

 

[finicky]

Market Matters answering a subscriber question on its W/E Q&A:

"IPG provided 1H25 earnings guidance at the end of November which was circa 12% below expectations in part due to the timing of larger projects. That saw universal downgrades to FY25, FY26 & FY27 earnings estimates from analysts. Whilst it was a disappointing trading update, IPG’s order backlog remains strong as the company remains exposed to the high growth electrification and data centre sectors. We like the company, but like many in the space, expectations were too high."

My precis of the above: Solid but too expensive?

Chart is still looking dubious. Three weeks ago the high volume hammer candle is suggestive to me that a low was met but the situation has since deteriorated, albeit on low volume An alternative is that there's a double top in effect and a target for that could be 3.25. When in doubt I go for the more negative interpretaion.

Not Held

WEEKLY 3 Years