WOR - Worley Limited

[michael_selway]

Lots of new contracts for Worley announced recently!!

04/01/2008 WorleyParsons awarded Canadian oil sands contract
03/01/2008 Award of 5 yr Services Contract for BP Kwinana Oil Refinery
20/12/2007 Award of Key Contracts for Woodside`s Pluto LNG Project
29/11/2007 Awarded Services Contracts for Saudi Aramco

Hi Bigdog, have you looked at AAX before?

Its global like WOR and covers similar enginerring areas! It may overtake WOR in future! maybe even M & A?

Thanks

MS

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 17.0 47.7 64.1 83.7
DPS 10.0 29.0 39.0 51.0

Ausenco Limited (AAX) specialises in the engineering, procurement, construction management, project management, commissioning and operation of mineral processing plants. AAX is currently undertaking global projects with an Installed Capital Value of more than US$1.9bn in more then 33 countries, covering the processing of minerals to produce gold, copper, nickel, silver, cobalt, lead, zinc, uranium and mineral sands.

 

[bigdog]

ASX ANN today to help QLD just after closing today

WOR SP $47.26 -$1.69 -3.45% 806,344 shares $38,174,592 @ 09-Jan 16:19:55

09-01-2008 04:17 PM WOR Brisbane River Desalination Plants
http://www.asx.com.au/asx/statistics/showAnnouncementPDF.do?idsID=00801753

Brisbane River Desalination Plants

Please find attached a media statement from the State Government of Queensland announcing WorleyParsons and Transfield Services as the preferred provider of two portable Brisbane River desalination facilities.

WorleyParsons and Transfield Services will work in joint venture for the State Government of Queensland on a solution to meet South East Queensland's water requirements.

The State Government of Queensland will reassess South East Queensland's water supply at the end of Queensland's wet season in MarchlApril and, if necessary, approve the project.

Page 2 & 3 provides media release

 

[bigdog]

What is happening at WOR?

Current SP WOR $43.95 -$2.19 -4.75% 552,107 shares $24,665,347 @ 11-Jan 13:27:18

Down $8.05 since Dec 31 207

52-wk High 54.1900
52-wk Low 19.7190

Date....... Close mvmt Volume
10-Jan-08 46.14 -1.12 826,669
09-Jan-08 47.26 -1.69 828,541
08-Jan-08 48.95 0.54 422,789
07-Jan-08 48.41 -2.65 607,053
04-Jan-08 51.06 0.60 259,437
03-Jan-08 50.46 -1.12 316,738
02-Jan-08 51.58 -0.42 200,216
31-Dec-07 52.00 - 163,390
28-Dec-07 52.00 0.75 151,254
27-Dec-07 51.25 159,897

10 day chart reviels:

 

[reece55]

What is happening at WOR?

Current SP WOR $43.95 -$2.19 -4.75% 552,107 shares $24,665,347 @ 11-Jan 13:27:18

Down $8.05 since Dec 31 207

52-wk High 54.1900
52-wk Low 19.7190

Date....... Close mvmt Volume
10-Jan-08 46.14 -1.12 826,669
09-Jan-08 47.26 -1.69 828,541
08-Jan-08 48.95 0.54 422,789
07-Jan-08 48.41 -2.65 607,053
04-Jan-08 51.06 0.60 259,437
03-Jan-08 50.46 -1.12 316,738
02-Jan-08 51.58 -0.42 200,216
31-Dec-07 52.00 - 163,390
28-Dec-07 52.00 0.75 151,254
27-Dec-07 51.25 159,897

10 day chart reviels:

Big Dog
Fundamentals are catching up - this one has an incredible high valuation (PE of almost 40 at the peak) that none of it's peers have and I would guess people are cashing out. It needs to sustain almost 25% - 30% EPS growth in perpetuity to warrant the valuation and I would doubt it will be able to achieve it.

Cheers
Reece

 

[michael_selway]

What is happening at WOR?

Current SP WOR $43.95 -$2.19 -4.75% 552,107 shares $24,665,347 @ 11-Jan 13:27:18

Down $8.05 since Dec 31 207

52-wk High 54.1900
52-wk Low 19.7190

Date....... Close mvmt Volume
10-Jan-08 46.14 -1.12 826,669
09-Jan-08 47.26 -1.69 828,541
08-Jan-08 48.95 0.54 422,789
07-Jan-08 48.41 -2.65 607,053
04-Jan-08 51.06 0.60 259,437
03-Jan-08 50.46 -1.12 316,738
02-Jan-08 51.58 -0.42 200,216
31-Dec-07 52.00 - 163,390
28-Dec-07 52.00 0.75 151,254
27-Dec-07 51.25 159,897

10 day chart reviels:

Hi Bigdog, please look at AAX, it hasnt been going down recently!

thx

MS

AAX - Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS 17.0 47.7 64.1 83.7
DPS 10.0 29.0 39.0 51.0

WOR - Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 100.4 146.3 174.4 210.6
DPS 60.5 79.4 94.3 120.0

 

[bigdog]

http://www.wabusinessnews.com.au/en...-forecasts-increased-earnings-after-1H-profit

The share price has been going up over the past week!
Date---- SP__$ Volume
27-Feb-08 40.94 1,220,211
26-Feb-08 40.00 1,639,897
25-Feb-08 37.85 1,414,000
22-Feb-08 37.05 821,139
21-Feb-08 36.52 878,460
20-Feb-08 35.00 781,053
19-Feb-08 36.50 484,329
18-Feb-08 36.19 690,708
15-Feb-08 35.88 914,276


WorleyParsons forecasts increased earnings after 1H profit
27-February-08 by AAP

WorleyParsons, Australia's largest engineering company, has forecast higher earnings in the second half after posting a 61.6 per cent increase in half year profit.

Net profit for the six months to December 2007 was $152.7 million, up from $94.5 million in the previous corresponding period.

"Subject to conditions remaining favourable, we expect to achieve increased earnings in the second half of 2008," chief executive John Grill said in a statement today.

The company delivered a 76.7 per cent increase in earnings before interest and tax (EBIT) to $231.7 million, compared to $131.1 million in the six months to December 2006.

Revenue rose 55.7 per cent to $2.262 billion, up from $1.453 billion in the previous corresponding half.

"It is pleasing to deliver yet another strong result reflecting the continued positive trading conditions the group has enjoyed over the last few years," Mr Grill said.

"Our key markets and sectors continue to experience positive conditions and we are well positioned to respond to these opportunities."

ABN AMRO Morgans private client adviser Craig Walker said the result was in line with "pretty lofty" expectations.

"But they managed to meet it, which is good to see," Mr Walker said.

WorleyParsons said the outlook for its hydrocarbon division, which has contracts with oil giants Woodside Petroleum Ltd, Chevron and ExxonMobil, remained positive for 2008.

"Our global hydrocarbons business is now a highly credible, world-class business and we continue to see positive conditions remaining in this sector," Mr Grill said.

"However, we remain cognisant of the significant pressures participants in the industry continue to experience due to resource and capacity constraints."

"We are delighted from the strong contribution from our Canadian operations, which has exceeded our expectations during the period."

WorleyParsons acquired Canadian design and project services business Colt Companies, which has significant upstream and downstream hydrocarbons capabilities, for $1.13 billion 12 months ago.

The Perth-headquartered engineering company forecast a positive outlook for its minerals and metals division thanks to strong demand for these commodities, driven by the industrialisation of China and India.

The company noted that a strong pipeline of future mining projects could be affected by financing constraints and access to capital amid global market turmoil.

WorleyParsons forecast strong demand on its power and infrastructure divisions, with significant growth opportunities for infrastructure services in the Middle East, Africa, and some parts of Asia and eastern Europe.

It said the performance of this division exceeded expectations, reflecting continued organic growth including solid performance on two world scale resource projects including Fortescue Metals Group Ltd's $3.7 billion Pilbara iron ore project, which is scheduled to start exporting iron ore by mid-May.

The engineering firm spent $72.7 million on acquisitions during the half, including Sydney-based consulting engineers and scientists Patterson Britton and Partners Pty Ltd, and US power group Polestar Applied Technology Inc.

Mr Grill said the company continued its strategy of extending its capability and geographic coverage with acquisitions, and was evaluating opportunities.

WorleyParsons declared an interim dividend of 38 cents, up from 28 cents for the previous corresponding period.

Its shares were 72 cents, or 1.8 per cent, higher at $40.72 at 1310 AEDT.

 

[chops_a_must]

If anyone is from Perth, and interested in this company, you may be interested in this.

Paul Hardisty is providing a free lecture, open to anyone interestedwith questions allowed from the audience, tomorrow 12/3 at 11.30 am.

Topics include: "sustainability" within the industry, environmental technology, liquid and alternate fuels and associated engineering, life cycle economics and the future of the petro industry.

- Don't hold me to that, it's what I've heard/ assumed.

Paul E Hardisty is Global Director, Sustainability, for WorleyParsons, helping clients worldwide deliver more environmentally, socially and economically sustainable projects. He is a Visiting Professor of Environmental Strategy at Imperial College, London, UK, Adjunct Professor of Environmental Engineering at the University of Western Australia, and has worked in the Middle East for the last 15 years.

He's a brave man where he's going. Especially with certain people in the crowd.

But if anyone is interested, give me a PM and I'll give you directions etc.

Otherwise I'll endeavour to write up a lot of the points and issues raised.

Cheers.

 

[bigdog]

What is happening with WOR Worley Parsons today?

Today SP is up +$3.03 +9.90 at 27-Mar 12:42:39

WOR $33.65 +$3.03 +9.90 high of $33.80 low of $30.72 901,769 shares $29,516,078 27-Mar 12:42:39

Date_____ Close Volume

26-Mar-08 30.62 1,073,333
25-Mar-08 31.00 1,991,928
20-Mar-08 30.12 2,754,287
19-Mar-08 31.86 2,579,784
18-Mar-08 31.80 1,491,567
17-Mar-08 32.56 720,365
14-Mar-08 32.42 825,355
13-Mar-08 32.98 844,700

 

[nitpra]

may be due to re-rating : UBS rates WOR as Buy - The company has won a design contract for a refinery in Romania valued at around $40m, though the broker had already included such contract wins in its forecasts and so makes no changes to its estimates.
Overall it sees the company as continuing to perform well so the broker retains its Buy rating.


Target price is $52.00 Current Price is $30.62 Difference:$21.38 - (brackets indicate current price is over target). If WOR meets the UBS target it will return approximately 70% (excluding dividends, fees and charges - negative figures indicate an expected loss).

 

[Uttsy]

Morning all,

No talk on this stock for a while? Just wondering if there are any ideas on its sudden head south?

Uttsy

 

[dan-o]

anyone think its worth getting in on worley now? they seem set to benefit from all the infrastructure contracts etc coming up...

thoughts?

 

[CapnBirdseye]

WOR is a very good bet. Big balance sheet, massively expanding, and exposed to the gains of the commodities market without the exposure to volatility in prices.

For some reason the market is very hard on Worleys, this is a good thing. Wait for the climb the week or 2 before FY08 results. I know I am. I'd say given the current sentiment, we might be looking at $40. I hope so anyhow.

 

[michael_selway]

WOR is a very good bet. Big balance sheet, massively expanding, and exposed to the gains of the commodities market without the exposure to volatility in prices.

For some reason the market is very hard on Worleys, this is a good thing. Wait for the climb the week or 2 before FY08 results. I know I am. I'd say given the current sentiment, we might be looking at $40. I hope so anyhow.

Hi thing is WOR is currently quite expensive, i mean there a lot of stocks right now with PE's less than 10 etc

Earnings and Dividends Forecast (cents per share)
2007 2008 2009 2010
EPS 100.4 144.9 178.7 212.1
DPS 60.5 84.0 103.5 124.5

EPS(c) PE Growth
Year Ending 30-06-08 144.9 22.2 44.3%
Year Ending 30-06-09 178.7 18.0 23.3%

thx

MS

 

[GREENS]

Any thoughts on the Worley chart? Positive, negative or neutral?

Seems to have formed a pretty classical triple bottom, but in both a rectangle and descending triangle formation. My charting is pretty average, so would be interested on people’s thoughts.

From my point of view initial resistance looks around $26 with major resistance @ $33.30, with key support around the $29.50 mark.

If it wasn’t in a descending triangle pattern, I would feel a little more bullish about it.

 

[GREENS]

Any thoughts on the Worley chart? Positive, negative or neutral?

Seems to have formed a pretty classical triple bottom, but in both a rectangle and descending triangle formation. My charting is pretty average, so would be interested on people’s thoughts.

From my point of view initial resistance looks around $26 with major resistance @ $33.30, with key support around the $29.50 mark.

If it wasn’t in a descending triangle pattern, I would feel a little more bullish about it.

My apologies, wrote it very quickly, that should read:

Initial resistance looks around $36 with major resistance @ $43.30, with key support around the $29.50 mark.
Any thoughts....

 

[bigdog]

Great result announced yesterday

http://www.news.com.au/heraldsun/story/0,21985,24170918-664,00.html

WorleyParsons reports 53% rise in profits
Tony Grant-Taylor
August 13, 2008 12:00am

ENGINEERING company WorlyParsons reaped the rewards of the resources and infrastructure boom in the 2007-08 fiscal year and is tipping further growth.

Worley yesterday reported a 53 per cent rise in profit to $343.9 million for the 12 months and the group's shares shot up $1.23, or 3.7 per cent, at $34.68.

Worley, which for years has been on the international expansion trail, reported a profit of $224.8 million in 2006-07.

Chief executive John Grill said the group was expecting good growth to continue, despite fears in some quarters of a slowdown in the wake of the subprime mortgage crisis.

"We expect the markets for WorleyParsons' services will remain strong. Our key markets and sectors continue to experience positive conditions, and we are well positioned to respond to these opportunities," Mr Grill said.

Worley's aggregated revenue for the year was $4.9 billion, up 38.6 per cent. Directors declared a final dividend of 47.5, up from 32.5, payable on October 10 for shareholders on the books by September 12.

Worley's oil and gas business was solid during the year, after its purchase of INTEC Engineering, a consultancy specialising in deepwater sub-sea engineering and offshore pipelines. Its power business also saw increased demand, particularly from the renewable energy sector.

The company yesterday also launched a proposal to build a 250 megawatt thermal solar power station, most likely in the Pilbara.

 

[Aussiest]

I would have thought initial support was around $29.50, with resistance at $34.00, which it appears to have been broken. The candles don't look that bullish, so it seems the market doesn't know what to do. I am no expert, but if it doesn't break through $34.50 within the next few sessions, it might trend back to that $29.50-32 support for a while, before bouncing up.


Thoughts?

 

[bigdog]

What a tumble in price this week has seen from high of $38 to currently $32.78 at 11:53 today

Date---- Open- High--- Low-- Close Volume
4-Sep-08 35.60 35.85 33.75 34.71 890,385
3-Sep-08 36.50 37.10 35.50 35.90 771,997
2-Sep-08 37.85 38.01 37.17 37.40 423,046
1-Sep-08 37.00 37.64 36.66 37.48 315,565
29-Aug-08 38.00 38.00 36.42 37.06 632,691

 

[bigdog]

Are there any reasons for the WOR to continue to drop in excess of overall market drop?

Latest price today is $18.1000 at midday

WOR reported a director selling at about $31 late Sept

Date High Close Volume
16-Oct-08 20.20 19.70 1,309,316
15-Oct-08 23.00 22.50 2,859,079
14-Oct-08 26.00 24.10 1,168,612
13-Oct-08 22.62 22.45 1,191,480
10-Oct-08 22.98 21.52 1,578,310
09-Oct-08 24.15 24.00 1,740,895
08-Oct-08 26.00 24.47 863,980
07-Oct-08 26.30 26.01 3,266,737
06-Oct-08 28.19 25.90 930,728
03-Oct-08 29.85 28.76 695,310
02-Oct-08 31.50 30.30 434,765
01-Oct-08 31.83 31.20 1,049,794
30-Sep-08 31.50 30.30 1,247,327
29-Sep-08 34.85 33.55 802,495
26-Sep-08 34.85 34.60 455,693

 

[michael_selway]

Are there any reasons for the WOR to continue to drop in excess of overall market drop?

Latest price today is $18.1000 at midday

WOR reported a director selling at about $31 late Sept

Date High Close Volume
16-Oct-08 20.20 19.70 1,309,316
15-Oct-08 23.00 22.50 2,859,079
14-Oct-08 26.00 24.10 1,168,612
13-Oct-08 22.62 22.45 1,191,480
10-Oct-08 22.98 21.52 1,578,310
09-Oct-08 24.15 24.00 1,740,895
08-Oct-08 26.00 24.47 863,980
07-Oct-08 26.30 26.01 3,266,737
06-Oct-08 28.19 25.90 930,728
03-Oct-08 29.85 28.76 695,310
02-Oct-08 31.50 30.30 434,765
01-Oct-08 31.83 31.20 1,049,794
30-Sep-08 31.50 30.30 1,247,327
29-Sep-08 34.85 33.55 802,495
26-Sep-08 34.85 34.60 455,693

Hm so are yo bullish on WOR?

Date: 7/10/2008
Author: Michael Smith
Source: The Australian Financial Review --- Page: 20
Australian engineering firm, WorleyParsons, seems set to ride out the troublesin the global economy. CEO John Grill said on 6 October 2008 that earningsremain strong and that the global strife is providing acquisition targets. Thecompany's share price has dropped 20% since early September 2008, whichGrill describes as a correction. The company spent over $A1.3 billion on nineacquisitions in 2007

Earnings and Dividends Forecast (cents per share)
2008 2009 2010 2011
EPS 140.8 179.5 213.2 235.0
DPS 85.5 102.7 124.0 139.5

thx

MS