Severfield plc
New Progressive research note
Progressive Equity Research has been commissioned by Severfield plc to produce ongoing research coverage. A new research document has been published this morning, and is freely available to UK investors.
Recovery prospects highlight compelling value
After two profit warnings due to 'challenging' markets and problem bridge contracts, the share price has fallen by c.75%, but we believe the long-term growth prospects for the UK's leading steel construction specialist remain sound. We introduce estimates for FY27E that, even with conservative assumptions, indicate a doubling in earnings. A more realistic scenario suggests even greater upside. Both scenarios imply low single-digit PERs, with a dividend yield in double figures. In this update, we discuss Severfield's earnings potential and continuing growth opportunities.
Subscribe to Progressive's research, which is freely available to every type of investor, and be kept informed about our regular programme of investor engagement.
About Progressive:
Progressive is an equity research and investor engagement company. FCA authorised and regulated, the firm has a 15-strong team of highly experienced analysts. We provide Institutional grade research and connect companies with investors across every sector of the market.
For further information please contact:
+44 (0) 20 7781 5300
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
