James Fisher and Sons (LON:FSJ) Posts Quarterly Earnings Results

James Fisher and Sons (LON:FSJ) issued its quarterly earnings data on Tuesday. The company reported GBX 6.50 earnings per share for the quarter, Digital Look Earnings reports. James Fisher and Sons had a negative return on equity of 2.37% and a negative net margin of 1.12%.

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 Up 0.7%

LON FSJ traded up GBX 3 on Wednesday, hitting GBX 446. The stock had a trading volume of 22,185 shares, compared to its average volume of 67,496. The business’s fifty day moving average price is GBX 459.84 and its 200 day moving average price is GBX 476.53. The company has a debt-to-equity ratio of 108.62, a current ratio of 1.16 and a quick ratio of 1.12. James Fisher and Sons has a 52-week low of GBX 326 and a 52-week high of GBX 554. The stock has a market cap of £225.16 million, a price-to-earnings ratio of -51.26 and a beta of 0.79.

Analyst Upgrades and Downgrades

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

About James Fisher and Sons

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