WOR - Worley Limited

[michael_selway]

WOR reported its full year results on Tuesday (29th August). Despite being slightly above expectations with its 106% increase in net profit, the market has since pounded the stock because of growth concerns over the coming year.

The last 4 days has seen the sp down 13%. I'm not much of a technical trader (still learning ) but I think WOR has been oversold and that we could see a suckers' bounce sometime next week. Any one think differently? e.g. are the growth concerns serious enough to see the sp fall even further? WOR has been trading at a P/E above its competitors and perhaps the market is trying price out the previous high growth expetations.

Also, looking at the candlestick chart, WOR bounced sharply after it fell to an intraday low of about $17.50 on the 14 June this year. So will we perhaps see WOR close up sharply on Monday? On the other hand, a close below $17.40 could be very bearish. WOR will be a good long/short CFD trade in the coming days.

cheers,
scsl

the surprise wasnt as high as many woudl have thought

they said 20% icnrease on first half, but they onyl got 25% increase on the half

people were thinkign 30-40% i suspect

thx

MS

 

[scsl]

WOR closed at $17.48 today. I think we could see the sp head lower soon, but I got a feeling that it might bounce up a bit before resuming south.

I am not very proficient in technical analysis (but am learning eagerly) and would appreciate any thoughts.

Thanks,
scsl

 

[michael_selway]

WOR closed at $17.48 today. I think we could see the sp head lower soon, but I got a feeling that it might bounce up a bit before resuming south.

I am not very proficient in technical analysis (but am learning eagerly) and would appreciate any thoughts.

Thanks,
scsl

Interesting, it did bounce up today

However its lack of NPAT guidance for 2007, have left people wondering what they will earn in years to come

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 67.9 86.7 102.9 113.3
DPS 41.0 52.0 63.0 66.0

thx

MS

 

[3 veiws of a secret]

Well this share is a great 'day trading' rollercoaster -thoroughly enjoying the volatile aspect of today

 

[scsl]

Well this share is a great 'day trading' rollercoaster -thoroughly enjoying the volatile aspect of today

I agree, there's been a lot of that the last two months. I'm curious, do you think WOR sp will 'get going' again once the market in general picks up? Has all the negative sentiment following its dissapointing profit result and forecast been flushed out?

 

[3 veiws of a secret]

II'm curious, do you think WOR sp will 'get going' again once the market in general picks up? Has all the negative sentiment following its dissapointing profit result and forecast been flushed out?

I can only say I have never known about WOR until recently when it hit $22 levels? .Yesterday the market looked flat for the shares I was honning onto. Then I hooked up to WOR and watched it slide in an orchestrated form from $18.29 down to $17.65 in say 30 mins ,and when the worm turned boy I was surfing. Ask me about this share ,I must admit apart from the announcements ,I'm of little use to this post.

 

[moses]

Smart money and demand are rising together even while the price drops. The smart money pulled out when the price was rising last month but has now re-entered...so presumably the SP will follow, UP.

 

[Halba]

they are now in the design of nuclear power plants...isn't that a blue sky market?

 

[michael_selway]

they are now in the design of nuclear power plants...isn't that a blue sky market?

Yes WOR imo is one of the best leveraged companies on the ASX, pity its got a high PE already

thx

MS

 

[GreatPig]

A current chart.

Struggling with resistance at $19.

GP

 

[scsl]

A current chart.

Struggling with resistance at $19.

GP

Got up to $19.42 today, finishing at $19.22, up 3.4%. Are you on this one GP? Do you have a price target?

I've been holding off on this one since the high 16s. This is what you get for not following your gut feeling!

 

[GreatPig]

Well I just got rumbled on this one today

After yesterday's drop and close below my trendline, I decided to sell if it didn't head up again today.

This morning it duly dropped from yesterday's close of $18.94 down to around $18.60, so I sold out at $18.61.

Now it's back up to $19.46 - up about 2.8% from yesterday - with $18.60 being the low

So I sold out for a few hundred dollar loss, whereas right now I'd be a few hundred up again.

Expect over $20 on Monday!

GP

 

[bigdog]

Greatpig,

I am very thrilled about WOR SP increase after recent roller coaster ride.

Great reports lately which have helped

LT buy and got in at $14l.

 

[michael_selway]

Expect over $20 on Monday!

GP

how do you know?

thx

MS

 

[GreatPig]

how do you know?

Because I just sold, so it's almost a dead certainty...

GP

 

[Sean K]

Because I just sold, so it's almost a dead certainty...

GP

Thanks GP, I'll be doing a Chicken and 'loading up the truck' on this Mon am.

 

[GreatPig]

Well it's happened with a dozen or so other stocks I've sold over the last few months, so I don't see why this one should be any different.

One example was REA. Bought mid September for $4.19, sold mid October for $4.09 as it looked to be dropping off yet again. From the very next day it started back up and basically didn't stop until hitting $5 last week.

I seem to have developed quite an art of trading a strong uptrend yet losing money on every trade (okay, exaggerating a bit, but it feels like it sometimes).

GP

 

[bigdog]

What dream run WOR has had with the SP over the past three months

Today SP is currently $21.26 up 31 cents for the day and is increase of 34% since Sept 20.

WOR announced today WorleyParsons awarded EPCM contract in Nigeria worth $US220 million

http://asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00681094

There was press suggestion that WOR could be a target and possible reason for big SP increases this week!


This exhibit shows SP on monday each week where SP closed 20-Sep-06at $15.90
Date-------Open--High--Low-Close--Volume
20-Dec-06 21.00 21.10 20.72 20.95 1,119,445
19-Dec-06 19.80 20.88 19.74 20.70 1,546,696
18-Dec-06 19.50 19.95 19.45 19.91 1,296,102
11-Dec-06 18.83 19.10 18.81 19.09 315,582
4-Dec-06 18.85 19.19 18.73 19.14 434,685
27-Nov-06 19.07 19.28 18.91 19.03 314,459
20-Nov-06 19.50 19.50 19.05 19.05 511,328
13-Nov-06 19.47 19.62 19.23 19.38 368,457
6-Nov-06 18.99 19.42 18.84 19.22 1,095,516
30-Oct-06 18.20 18.25 18.03 18.20 325,453
23-Oct-06 18.10 18.41 17.89 18.15 421,917
16-Oct-06 18.50 18.87 18.38 18.85 762,698
9-Oct-06 16.56 16.94 16.56 16.90 772,690
2-Oct-06 16.68 17.00 16.67 16.91 424,805
20-Sep-06 15.99 16.11 15.85 15.90 1,195,060

I hold

 

[michael_selway]

Yeah not bad WOR

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 67.9 88.1 112.2 118.8
DPS 41.0 51.3 59.0 66.0

EPS(c) PE Growth
Year Ending 30-06-07 88.1 24.0 29.8%
Year Ending 30-06-08 112.2 18.8 27.4%

WorleyParsons announces today that it’s 49% owned Nigerian operating entity DeltaAfrik, has been awarded a five year contract to provide Engineering, Procurement and Construction Management (EPCM) services to Mobil Producing Nigeria to support the execution of a portfolio of projects offshore Nigeria. The estimated contract value for WorleyParsons/DeltaAfrik direct services is USD220 million. This program of work involves upgrades and expansion of Mobil Producing Nigeria offshore facilities and pipelines as a means of ensuring the continuing operations of its offshore production facilities and supporting infrastructure in Nigeria. “We are very pleased that Mobil Producing Nigeria has selected WorleyParsons and DeltaAfrik to execute this very important project,” said WorleyParsons CEO Mr John Grill. “This is an important achievement that will allow WorleyParsons to further invest in the development of local Nigerian resources, it reinforces our commitment to Nigeria and to the provision of our Asset Integrity and Business Improvement Services core offering to clients.”

thx

MS

 

[bigdog]

WOR SP has done very well today on ANN today profit reporting and currently up $1.12

WOR $21.62 +$1.12 +5.46% 1,024,537 shares $22,022,765
@ 25-Jan 14:23:06

ASX Announcement today
WOR 8:30 AM Half Year 2007 Interim Results
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00687355
WORLEYPARSONS LIMITED (ASX:WOR)
Half Year 2007 Interim Results
WorleyParsons has experienced a continuation of favourable trading and business conditions across its operations in the 2007 financial year to date, with results ahead of expectations.

Whilst the external audit and final internal accounting and assurance processes for the Interim Result have yet to be completed, based on an initial review the Net Profit After Tax for the 6 months to 31 December 2006 is expected to be more than 15% higher than that reported for the 6 month period from 1 January 2006 to 30 June 2006.

Subject to conditions remaining favourable in all its markets, the Company expects further increased earnings in the second half of the 2007 financial year.

I hold WOR