Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Hunting - Another hitting highs as forecasts beaten

June 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • HTG
  • Price:
  • 380p
A New Year NAP at 257p, the shares burst to 380p and are locked in an upward trend after Hunting disclosed Q1 trading marginally ahead of expectations with EBITDA of c. US$28.9m (Q1 ‘23: US$22.4m). Sales order book remains healthy at US$544m (Q1 ‘23: US$492m) with the tender pipeline for new orders remaining buoyant. The OCTG and Subsea divisions were ahead of management’s expectations with offshore international particularly strong, offset by a slower Q1 for perforating systems. Full year guidance remains unchanged with EBITDA of US$125m-US$135m and EBITDA margin of 12-13%. I sense more big gains given the strong outlook; I am a buyer. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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