The short-term setbacks can be decent opportunities to hop aboard an otherwise sound growth story and I think that could be what we are seeing today with Consort Medical (LSE: CSRT), whose investors are nursing a 20%-plus share-price reversal today on the release of the half-year results.

Temporary challenges?

The company is a contract developer and manufacturer of drugs and drug delivery devices and partners with pharmaceutical businesses to design, develop and manufacture “high-performance” medical devices for inhaled, injectable, nasal and ocular drug delivery, and point-of-care diagnostics products. It also makes active pharmaceutical ingredients (APIs) and finished dose drugs “to the highest quality standards.”

Let’s get the bad news out of the way first. Today’s report reveals that partner-firm Mylan has experienced a delay in the approval of its Wixela (generic Advair) inhaler programme, which has led to its inventory of Consort Medical’s devices building up, so Mylan won’t be buying from Consort in the short term.

Consort’s chief executive, Jonathan Glenn said in the report he expects the situation to knock down profit before tax for the current year by £3m compared to the director’s earlier forecast. To put that in perspective, the firm reported profit before tax of just over £38m for the full year to April 2018, so today’s news represents a significant miss on earnings, but not a catastrophic one. Mr Glenn said his “view of the peak sales opportunity for the product remains unchanged.”

Meanwhile, today’s figures are pretty good. In the first half of the firm’s trading year, underlying revenue at constant currency rates eased back 0.7% year-on-year, profit before tax moved just over 6% higher and adjusted earnings per share rose almost 7%. The outlook is positive and the directors expressed their confidence in the firm’s prospects by pushing up the interim dividend by 2.2%.

Growth story intact

Despite the challenges in the Wixela programme, Consort reported progress in most other operational areas today. The firm’s two operating divisions are Bespak, which handles drug delivery devices and delivered 62% of last year’s operating profit before special items, and Aesica, which makes drugs and accounted for the remaining 38%. Mainland Europe is important to the company and provided 65% of last year’s revenue, 15% came from the US, 9% from the UK and 11% from the rest of the world.

Looking forward, Jonathan Glenn said the firm’s strategy focusses on organic opportunities and research and development will drive “strong long-term growth.” The firm also plans to assess acquisition opportunities that deliver additional growth and “a broader offering through access to new geographic markets and complementary technologies and capabilities.”

Today’s weakness in the share price looks like an opportunity to me. I think the growth story remains intact and the share is well worth your research time now.

The post Despite the shares plunging 20% today, I think this growing firm is attractive appeared first on The Twelfth Magpie.

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Kevin Godbold has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

While, on an underlying basis, revenue rose by 4.4% to £311m and EBIT gained 5.3% to £42.7m, adjusted EPS actually dipped by 0.9% to 64.5p. On a statutory basis, pre-tax profit fell by 21% to £17.3m, but the underlying figure showed a 7.3% rise.

Consort, which bills itself as a “leading, global, single source drug and delivery device company,” had been growing its earnings per share strongly in the preceding few years, and the share price has been following nicely — up 77% over five years to 1,218p.

Though this year’s flattening of earnings might look disappointing, analysts are predicting growth of 9% per year for 2019 and 2020. And the dividend is growing progressively too — while yields are still under 2%, the annual cash handout is appreciating nicely ahead of inflation.

Solid core business.

What I like about Consort is the nature of its business. It manufactures drugs and premium drug-delivery devices, so it can provide the whole package in one go — and provides support to drug development companies for making an end-user product.

That makes Consort something of a picks-and-shovels company, the kind that can do well regardless of who’s winning at the actual development end of the market. A number of its key customers seem to be doing very well with their pipelines too, and I can see good long-term prospects here.

On a valuation front, the shares are on a forecast P/E of 17 for 2019, dropping to 15.6 in 2020. Obviously, forecasts can go wrong, but that looks like an attractive valuation for a stock with what I believe to be strong growth potential.

Short-term growth dip?

Whenever I spot a soaring growth share chart, I’m always wary of what I see as a common happening. Often, investors can see no wrong, and as long as the company keeps meeting or even exceeding its challenging expectations, the shares keep on going up. But as soon as the first underperformance comes in, bang — desertion and a big share price drop.

That happened to Proactis Holdings (LSE: PHD) in April, when the company reported higher than expected customer losses — though profits at the interim stage were up nicely. The business management software company reckoned there will be an impact on the second half — and on the day, the share price was slashed by 40%, from 190p to just 111p.

Analysts soon cut back their 2018 expectations to an EPS rise of just 4%, but the most recent forecasts suggest strong growth in 2019 with EPS putting on 23%. And with the firm’s order book looking good, up to £47.8m at interim time, I see that as realistic.

Growth screen

I was alerted by the share price weakness bringing Proactis within the range of my growth share screen.

The shares are on a PEG multiple for 2019 of just 0.5 now, and anything below 0.7 can suggest strong growth prospects. And we’re looking at a low forward P/E of just 11, significantly below the FTSE 100‘s long-term average.

Net debt of £29.8m at 31 January came after the acquisition of Perfect Commerce LLC for £94.3m, and with 2019 revenue forecast at more than £60m, I don’t see that as a problem.

Looks like a future cash cow to me.

The post 2 super growth stocks I’d buy and hold until retirement appeared first on The Twelfth Magpie.

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Alan Oscroft has no position in any of the shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

The directors expressed their confidence in the outlook by pushing up the regular dividend 15% and by paying a special dividend of 68p. Together, these payments put this year’s dividend haul for investors around 160% higher than last year – excellent work!

Strong pipeline to drive growth

The company provides high performance polymer solutions for the automotive, aerospace, energy, manufacturing, engineering, electronics and medical markets. The year saw core business growth “fully offsetting” what turned out to be a “significant reduction” in consumer electronics volumes. But the directors were expecting consumer electronics business to retreat, and the fact that revenue and earnings grew anyway highlights the strength of the firm’s diversified business model, I reckon.

Chief executive Jakob Sigurdsson tells us that a strong pipeline of new products will drive the firm’s ambition to generate 10% to 20% of additional sales over the medium term. He reckons that the directors’ strategy regarding polymer and parts “is already differentiating Victrex in a competitive market,” and that the firm is also “closing in” on a major OEM agreement in its dental division.

There’s a lot happening to keep growth on the agenda. The year saw one bolt-on acquisition, the establishment of a joint venture to develop differentiated aerospace products, and the opening of £10m polymer innovation centre to support prototyping and new polymer grades. The company plans to continue to focus on partnerships, alliances and acquisition opportunities, Mr Sigurdsson says, “to help accelerate our growth programmes.”

An appealing sector

Meanwhile, Consort Medical (LSE: CSRT) delivered its interim results today showing another steady performance. Constant currency revenue came in 4.2% higher than a year ago and adjusted basic earnings per share pushed up 2.6%. The directors slapped 5% on the interim dividend.

The firm operates in an appealing sector describing itself as a one-stop developer and manufacturer of drugs and premium drug delivery devices. I don’t think drugs will ever go out of fashion, so constant demand for the service seems assured as long as Consort remains competitive. A “strong” development pipeline looks set to keep the firm moving forward with organic growth, although chief executive Jon Glenn reckons that if an acquisition opportunity looks capable of providing the firm access to new geographic markets and complementary technologies, the directors will consider it.

A good return with more to come

More of the same from this reliable-looking company would be a good thing. Over five years the dividend has increased around 25% and the share price is up around 65%. Investors holding the shares have been rewarded for their patience and I reckon similar patience could pay off going forward too.

Although operating in different sectors, both Consort Medical and Victrex have long records of good trading and earnings growth, which look set to continue. Valuations are full and fair, but playing the long game and holding investments for the next decade in these two could pay off if the world’s economies hold up.

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Kevin Godbold has no position in any of the shares mentioned. The Motley Fool UK has recommended Victrex. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

Changing business

Reporting on Friday was healthcare company Smith & Nephew (LSE: SN). Its sales growth in the first quarter of the year was somewhat lacklustre. It increased by 3% on an underlying basis and was flat when the effects of currency translation and asset disposals were included. Beneath this disappointing headline result, however, was a potential catalyst which could push the company’s share price higher.

In recent years, Smith & Nephew has focused to a greater extent on emerging markets. This seems to have been a smart move judging by its performance there in the first quarter of the year. Growth in its Emerging Markets operation was 12% on an underlying basis. This suggests exposure to fast-growing regions where there is a rising and ageing population could spark high earnings growth in the long run.

While Smith & Nephew currently trades on a price-to-earnings (P/E) ratio of 19.8, it has a stable track record of growth. It has delivered rising earnings in four of the last five years. When this stability is combined with its growth potential from emerging markets, it suggests that improved capital gains could be on the horizon. With efficiencies also improving thanks to a new strategy, the company could be a strong performer in an uncertain period for the global economy.

Improving outlook

The 2017 financial year is not expected to have been particularly successful for medical equipment specialist Consort Medical (LSE: CSRT). In fact, its bottom line is forecast to have risen by just 1%, which suggests that its growth rate is running out of steam after four positive years of growth. During that time, the company’s earnings increased at an annualised rate of around 14%, which shows that its strategy was working well.

Looking ahead, the company’s financial performance is expected to improve. In the current financial year, Consort Medical is due to record a rise in earnings of 8%, followed by further growth of 11% next year. This puts it on a price-to-earnings growth (PEG) ratio of only 1.4, which suggests that the market has not yet fully priced-in the company’s upbeat outlook.

As well as impressive growth and value credentials, Consort Medical is also expected to deliver a dividend rise which beats inflation. Its shareholder payouts are forecast to rise by over 5% per annum during the next two years. With dividends covered almost three times by profit, its 2% yield could rise at a brisk pace.

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Peter Stephens has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. Views expressed on the companies mentioned in this article are those of the writer and therefore may differ from the official recommendations we make in our subscription services such as Share Advisor, Hidden Winners and Pro. Here at The Motley Fool we believe that considering a diverse range of insights makes us better investors.

A mighty medical play

I believe that galloping demand for medicines should light a fire under the earnings performance of Consort Medical (LSE: CSRT)  in the coming years.

The contract development and manufacturing play is already a significant provider to the world’s leading pharmaceutical companies, and recent acquisitions like Aesica are helping Consort Medical to remain at the forefront of industry innovation.

The City certainly expects earnings to rev higher, and an 11% rise is currently forecast for the year to April 2017, resulting in a P/E ratio of 16.8 times.

I reckon this represents a decent time to plough into Consort Medical, as massive healthcare investment across the globe powers demand for the firm’s services.

Milking the market

With Western military budgets back on the mend, I reckon defence and dairy engineering group Avon Rubber (LSE: AVON) can expect sales of its cutting-edge hardware to the US Department of Defense to keep on climbing.

But the defence sector is not the only reason to be optimistic about Avon Rubber, with market share grabs from its cutting-edge Milkrite milking technology allowing it to traverse the worst of the cyclical problems hitting the dairy industry.

The number crunchers expect Avon Rubber to enjoy a 19% earnings advance in the period to September 2016, producing a P/E rating of just 13.5 times.

While contract timings may continue to prove problematic, I reckon rising demand for Avon Rubber’s products from non-US customers promises to deliver solid long-term growth.

Flooring favourite

Supported by robust economic conditions in the UK, and of course resplendent home-buyer demand, I reckon flooring specialist Carpetright (LSE: CPR) should keep on delivering brilliant earnings growth.

The company is also undergoing significant restructuring to shutter under-performing stores and open new ‘retail concept’ outlets. And Carpetright is planning to undergo significant brand changes and shop refits in the coming months to keep customers marching through its doors.

Against this backcloth, earnings at Carpetright are expected to march 30% in the year to April 2017, resulting in a mega-cheap P/E rating of 11.4 times.

Jobs juggernaut

I am convinced that recruitment play SThree (LSE: STHR) is a sound growth bet as, despite current travails in Asia, robust economic conditions in Europe and US are helping to drive profits higher.

On top of this, the company’s ICT and Life Sciences divisions are helping to offset the impact of troubles in the fossil fuel sector at its Energy arm. Indeed, group gross profits cantered 10% higher during December-February, to £53m.

The City expects SThree to keep earnings heading higher with an 18% advance in the year to November 2016, producing a very-attractive P/E ratio of 14.3 times. I reckon this represents stellar value given the terrific potential thrown up by the company’s huge global footprint.

The post The 4 stunning small caps you can’t afford to miss! appeared first on The Twelfth Magpie.

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Royston Wild has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

However, stocks that offer less positively-correlated financial performance are arguably becoming rarer. That’s because the world continues to become more globalised, with countries now being highly interdependent and the policy decisions made by one major economy having a sudden and direct impact on the rest of the world.

That’s partly why the healthcare sector remains popular among investors. A number of its constituents are more heavily impacted by the patent boom and bust cycle rather than the business cycle. As such, they offer diversification potential and can deliver impressive share price returns even during uncertain times for the wider stock market.

Diversity diva

One notable business within the healthcare sector is GlaxoSmithKline (LSE: GSK). It offers a large amount of diversity through having three segments to its business, with pharmaceuticals, vaccines and consumer goods combining to create a relatively low-risk business that in the long run looks set to deliver strong profit growth.

A key reason for this is GlaxoSmithKline’s cost savings and impressive pipeline of around 40 potential treatments. With the company’s shares having a beta of just 0.9 and trading on a price-to-earnings growth (PEG) ratio of only 1.1, they offer strong growth, appealing value and excellent defensive prospects.

Stability star?

Also having a bottom line less positively-correlated with the wider economy is Consort Medical (LSE: CSRT). The contract development and manufacturing specialist is forecast to post a rise in its earnings of 11% in each of the next two financial years and with it having posted impressive net profit growth in the last three years, it seems to be a relatively consistent performer.

As with GlaxoSmithKline, Consort trades on a relatively appealing PEG ratio of 1.4 and with its shares having a beta of 0.3, they seem to offer a less volatile shareholder experience than the wider market, which could be a useful ally in the coming months.

Rewarding risk

Meanwhile, Allergy Therapeutics (LSE: AGY) has posted a share price rise of 22% in the last year while the FTSE 100 has fallen by 11% during the same time period.

Certainly, Allergy Therapeutics is a relatively high-risk play due in part to the fact that it’s expected to be lossmaking in both the current year and next year. However, with the pharmaceutical company having a cash pile of £33m, reporting a rise in revenue of 12% in its most recent results and having a beta of just 0.2, it may be worth a closer look for less risk-averse investors who are seeking to diversify their portfolios.

The post Why GlaxoSmithKline plc, Allergy Therapeutics plc and Consort Medical plc are a dying breed appeared first on The Twelfth Magpie.

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Peter Stephens owns shares of GlaxoSmithKline. The Motley Fool UK owns shares of and has recommended GlaxoSmithKline. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Whitbread: A Long-Term Play

Its interim management statement for the 13 weeks to 28 May showed why Whitbread (LSE: WTB) deserves plenty of attention: like-for-like sales growth at Premier Inn and Costa stands at 6.3% and 5%, respectively. 

Moreover, Whitbread plans to open around “5,500 new Premier Inn UK rooms and around 250 net new Costa stores worldwide“. 

“Our committed UK pipeline has grown to 13,339 rooms and construction is underway on 42 new hotel sites as well as 19 hotel extensions,” it added.

The stock’s performance is broadly in line with that of the FTSE 100 at the time of writing, and that’s because investors want even more growth from this stock market darling — but at 21x forward earnings, WTB remains a buy, in my view. If it keeps up with this growth rate, revenues will have grown at a compound annual growth rate of 14.4% between 2013 and 2016 — and there’s more to come. 

WTB remains a long-term value play. 

Ashtead Group: Focus Is On Cash Flows 

Ashtead (LSE: AHT) is doing well both in the US and in Britain, its annual results showed today. So, why is AHT down 2.6% today at the time of writing, and 4% year to date? 

It looks like analysts are less upbeat about its growth prospects at 1,100 a share, where it currently trades. Barclays, for instance, decided to cut its price target to 1,375p today, which implies a rather high forward price-to-earnings ratio of about 20x. 

Certainly, the yield it offers isn’t particularly appealing, but its growth rate is outstanding. Fundamentals are solid, while net leverage is under control. If anything, additional cash returns to shareholders should be ruled out at least until its core cash flow profile improves. 

That said, I’d hold onto AHT if I were invested. 

Keep An Eye On Consort Medical (£455m market cap) & Servoca (£28m market cap)

These are two smaller business that investors should keep on the radar, in my opinion. 

Consort Medical‘s (LSE: CSRT) results were a mixed bag, but there’s a lot to like in the way management is pushing ahead with an aggressive capital allocation strategy that may eventually allow its stock to beat its previous records over the next 24 months.

“Unchanged final dividend of 11.68p per share; total full year dividend unchanged at 18.11p,” was one element I did not like in its release, but was in line with expectations. A closing net debt position of £99.2m (FY2014: net cash £25.8m), which implies net leverage of 2.3x (“comfortably within the banking facility covenant”) signals efficiency, at least financially, however. 

On average, its shares have risen at a 40% clip over the last five years: they do not trade in bargain territory, based on cash flow multiples, but they are not expensive, either. 

Elsewhere, Servoca (LSE: SVCA) is up 30% this year. Volumes are thin, which heightens the risk of the investment, of course. I am fairly relaxed about that, and I’d focus on the unaudited interim results (for the six months ended 31 March 2015) of this specialist outsourcing and recruitment solutions provider, which showed today a strong rate of growth for revenues and earnings as well as declining net debt. All good here. 

This is a business at a growth stage, operating in a very promising sector and with a clear focus (healthcare, education) on operations. Its lofty valuation could drop fast if management continues to deliver, drawing the attention of bigger recruitment agencies in the UK, where consolidation is likely to speed up sooner rather than later. 

The post Is It Too Late To Invest In Whitbread plc, Ashtead Group plc, Consort Medical plc & Servoca Plc? appeared first on The Twelfth Magpie.

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Alessandro Pasetti has no position in any shares mentioned. The Motley Fool UK has no position in any of the shares mentioned. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Gulf Marine

I’ll start with Gulf Marine Services (LSE: GMS), a provider of barges to the offshore oil industry, which only has a short track record as a quoted company — and not a great one, as the price slumped in 2014. But with the shares trading at 119p today they’re on a P/E of only 6.3 based on 2015 forecasts, dropping to 5 for 2016. There’s a drop in EPS expected this year, but a predicted 25% rise in 2016 would give the stock a PEG of only 0.2 — and growth investors typically consider 0.7 or less to be worth a closer look.

Stagecoach

Next up is transport firm Stagecoach (LSE: SGC), whose business is expected to enjoy a 20% growth in EPS in 2016 after a flat year to April 2015, and that would drop its PEG to 0.6. On top of that, there are reasonable and well-covered dividend yields of around 3% expected on the 372p shares, so there should be some income to bolster its growth potential. With a P/E of 12 for 2016, dropping to 11 on 2017 forecasts, Stagecoach looks attractive.

Chime

Chime Communications (LSE: CHW) provides PR and marketing consultancy services, and the City is expecting great things from it. After chief executive Christopher Satterthwaite told us that “2014 was a year of good growth and saw the development of CSM as a global player in the sport and entertainment marketing businesses“, there’s a massive 170% boost in EPS expected this year, with a more modest but still appealing 15% extra for 2016. That gives us PEG ratios for the two years of 0.1 and 0.6 with the shares at 288p, and that’s on top of dividend yields exceeding 3%.

Investec

Investec (LSE: INVP) shares are up 20% over the past 12 months to 610p, but two more years of forecast EPS growth giving us a 2016 PEG of only 0.6 suggests there’s plenty more to come — and an improving financial environment should be a great help to investment companies like Investec. Forecast P/E multiples should also drop from 12.7 for 2016 to just 11.2 in 2017 if forecasts come good, and we’re even looking at dividend yields approaching 5% by 2017!

Consort

Then there’s Consort Medical (LSE: CSRT), whose shares have nearly trebled in five years to 920p. Forecasts for the firm that develops drug delivery systems suggest that’s not the end of it, with double-digit earnings on the cards for the next two years. That would give us a PEG of 0.7, and with CEO Jon Glenn speaking of “important new development contract wins and meaningful progress with […] development and innovation pipelines” at results time, Consort could carry on delivering for years to come.

The post 5 Great Growth Opportunities: Gulf Marine Services PLC, Stagecoach Group plc, Chime Communications plc, Investec plc & Consort Medical plc appeared first on The Twelfth Magpie.

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Alan Oscroft has no position in any shares mentioned. The Motley Fool UK has recommended Stagecoach. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.