James Fisher and Sons (LON:FSJ) Issues Earnings Results

James Fisher and Sons (LON:FSJ) posted its quarterly earnings results on Tuesday. The company reported GBX 6.50 earnings per share (EPS) for the quarter, Digital Look Earnings reports. James Fisher and Sons had a negative return on equity of 1.54% and a negative net margin of 0.73%.

Here are the key takeaways from James Fisher and Sons’ conference call:

• Underlying operating profit rose 27.9% to £14.2 million in the first half, with the margin improving to 7.2% and ROCE rising 210 basis points to 8.2%.
• Defense revenue increased 43% to £53.8 million and operating profit rose to £5.3 million. The £295 million order book, plus approximately £95 million of framework awards, provides strong forward revenue visibility.
• Maritime Transport delivered a 48% increase in operating profit to £10.2 million, supported by strong tanker utilization, improved spot rates and higher Latin American ship-to-ship activity. Three of four new tankers have now been delivered.
• Energy remained a significant headwind, with revenue down 20.6% and operating profit down 45% as geopolitical uncertainty, delayed oil and gas projects and weaker offshore wind construction reduced higher-margin activity.
• Management maintained its full-year expectations, provided energy markets do not materially worsen, while continuing to target 10% operating margins and 15% ROCE without specifying a timeline for reaching those goals.

James Fisher and Sons Stock Down 3.6%

LON FSJ traded down GBX 16 on Thursday, reaching GBX 430. The company had a trading volume of 59,200 shares, compared to its average volume of 67,449. The firm has a market capitalization of £217.09 million, a PE ratio of -49.43 and a beta of 0.79. James Fisher and Sons has a 1 year low of GBX 344 and a 1 year high of GBX 554. The firm has a 50-day moving average of GBX 459.54 and a 200-day moving average of GBX 476.19. The company has a debt-to-equity ratio of 142.42, a current ratio of 1.15 and a quick ratio of 1.12.

Analysts Set New Price Targets

Separately, Berenberg Bank reduced their price target on shares of James Fisher and Sons from GBX 850 to GBX 835 and set a “buy” rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of GBX 682.50.

James Fisher and Sons Company Profile

James Fisher and Sons plc is a leading provider of unique marine solutions in Energy, Defence and Maritime Transport. The Group pioneers safe, innovative solutions that solve complex customer challenges for industries and governments around the world.

For more information visit www.james-fisher.com