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Saturday, August 4, 2012

Morgan Sindall shares outlook august 6 2012

Morgan Sindall shares outlook august 6 2012 : I've liked Morgan Sindall, which reports its interims Monday, for a while, and I think the construction firm with a speciality in regeneration is trading at a bargain price now.

It's still a tough market, but 2011 full-year results looked promising, and though current economic problems are holding back the business, especially with government spending being cut back, forecasts for Morgan Sindall are solid

We have two effectively flat years expected, but at the current price of 668 pence, the shares are on a forward price-to-earnings ratio (P/E) of a mere 8.7 for this year, falling to 8.3 next year. And there are dividends forecast of 6.2% and 6.3% respectively, which should be almost twice covered.

I'm expecting Monday's report to tell us of an uncertain second half due to challenging economic conditions, and I wouldn't be surprised if the shares should fall back a little -- but watch out for what I think is a good bargain.

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