MDU RESOURCES GROUP INC MDU
June 14, 2023 - 3:56pm EST by
member
| 2023 | 2024 | ||||||
| Price: | 20.50 | EPS | 0 | 0 | |||
| Shares Out. (in M): | 204 | P/E | 14 | 0 | |||
| Market Cap (in $M): | 4,200 | P/FCF | 14 | 0 | |||
| Net Debt (in $M): | 2,500 | EBIT | 0 | 0 | |||
| TEV (in $M): | 6,700 | TEV/EBIT | 0 | 0 | |||
Description
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| # | AUTHOR DATE SUBJECT |
|---|---|
| 56 | |
So, last night Ordina announced an agreement to be acquired by Sopra Steria (SOP.FP) for a 5.75 EUR per share or 10x EV/EBITDA. Ordina is a dominant player in Benelux and a direct competitor to... login to read the rest | |
| 55 | |
It looks like Ordina ORDI.NA) is being sold, they announced it today, stock traded higher and trades for about 7.5x EV/EBITDA. Ordina is a very solid (12% EBITDA margin) Benelux region Solutions business, so a... login to read the rest | |
| 54 | |
I told Jay the same thing - strongly encouraged a buyback (via tender since liquidity makes it hard to do it open market). We are significant owners. According to him, the Board's main concerns about... login to read the rest | |
| 53 | |
I agree with Starfox-- any shareholders with opinions should loudly voice them to Jay. I personally think the company is cheap and a tender/buyback could make a lot of sense given the current valuation. A... login to read the rest | |
| 52 | |
Grizzly, have you talked to the Board and expressed your thoughts? I haven't chatted in a while and plan to talk to them. Agree that while fundamental execution has been solid, they could be doing... login to read the rest | |
| 51 | |
Agree with all the points made and would just add that CTG has a strong balance sheet and generates a lot of cash on a pretty steady basis. You are just sort of sitting there... login to read the rest | |
| 50 | |
One follow up point worth making is that when CTG last saw its valuation peak around 10x EV/EBITDA in 2013 or so, the company's Solutions business was largely one-time EMR implementation projects (related to ACA),... login to read the rest | |
| 49 | |
I believe ERP implementations in inventory-intensive industries/businesses are quite complex and can certainly create distraction and pressure cash flows because costing and accounting for inventory once the new system goes in can create accounting nightmares.... login to read the rest | |
| 47 | |
I think we were posting at the same time so apologies for not seeing your message - totally understand your frustration with the lack of 3 year return. We feel the same way about this... login to read the rest | |
| 46 | |
Spock, this seems like a strange windmill to tilt at. If this were a widget building business adding a new production line - or a retailer (your favorite) building a new box - would you... login to read the rest | |
| 45 | |
yours is a rational reply (upvote)
I'm just frustrated, having added this three years ago and not seeing a return. From a simplistic point of view, it seems deceptively cheap but a series of items from... login to read the rest | |
| 42 | |
Got it - see I moved a little to quickly, don't know why I missed that. Thanks. | |
| 41 | |
We're a little lower than grizzly but in the same ballpark. Adding back ERP implementation costs as a non-GAAP adjustment. Obviously a real cost but it's more like a discrete capex project with a 10... login to read the rest | |
| 40 | |
Grizzlybear -
Looking at the PR, how do you figure the $19 million EBITDA midpoint guide? I assume that you are using the target exit rate margins for next year? 7% adjusted EBITDA by the end... login to read the rest | |
| 39 | |
The business has transformed to a Solutions business, and is now trading for 4x FY23 EBITDA.
so, just curious, what exactly would you surmise is Mr. Market's take, which we could assume is uniform if not... login to read the rest | |
| 38 | |
Total Revenues grew organically +8% in Q422. Guiding for ~$19M EBITDA at the mid-point, which is 10% growth at the mid-point, and guiding to double-digit organic growth (ex-staffing) at the mid-point. Staffing will be 15%... login to read the rest | |
| 37 | |
Zeke - would be curious to hear your thoughts on the recent Q.
I thought it was alright, but not sure it justifies the stock being at $6.85...I don't think it's any surprise that these tech... login to read the rest | |
| 36 | |
thx! for the great info... | |
| 35 | |
Having spoken to management, we are extremely pleased with this deal. Spocks' concerns about the revenue multiple (1.8x excl earn-out, compared to ~0.7x paid for previous 3 deals) makes sense, but there is additional context... login to read the rest | |
| 33 | |
Item 1.01 Entry into a Material Definitive Agreement.On September 29, 2022, Computer Task Group, Incorporated, a New York corporation (“CTG”), entered into a Stock Purchase Agreement (the “Agreement”) with Eleviant Technologies, Inc., a Texas corporation... login to read the rest | |
| 32 | |
Where do you see the terms of the transaction? I don't think this was disclosed? | |
| 30 | |
While we agree with Spock that there's not necessarily a near-term catalyst here, and that comps might not look great over the next 2-3 quarters, we would strongly disagree on the comparison to brick and... login to read the rest | |
| 29 | |
We think that Spocks and VC2020 covered the quarter well and we don't have anything to add there - we agree the guide down is mostly FX (with some moderate issues in Europe, which have... login to read the rest | |
| 28 | |
appreciate your thoughts
--
not worth much more than 2c, but reading thru years and years of these things most folks on this board (tend to) focus on the intrinsic value of the businesses they buy, sell,... login to read the rest | |
| 27 | |
Think the selling is unwarranted. If you backed out the FX headwind from the guide (which should be reasonable), then diluted EPS guidance is basically the same as it was in Q1 of this year (e.g.... login to read the rest | |
| 24 | |
Ha! I feel you on SGA (I own that too). Man..the CEO goes on and on and meanwhile sits with a crazily well capitalized balance sheet. I have that thing trading at like 6x 2021... login to read the rest | |
| 23 | |
will get off this horse, but they aren't "concerns". These things represent my thoughts on why CTG trades where it does (i am long here).
And to be clear, I think CTG trades far cheaper than... login to read the rest | |
| 22 | |
Per our screen, CTSH trades at 14-15x 23 EPS and ACN trades at 23x '23. Obviously these companies have a much better / stronger long-term track record, but I'm not sure that CTG should trade... login to read the rest | |
| 21 | |
keep in mind I'm just trying to understand why it trades where it does - re: compares - meant as a generalized comment - the ACN, CTSH, PRFT, CGI of the world may not be... login to read the rest | |
| 18 | |
Had a chance to read through everything, and agree. Just on 2022 numbers alone, $11-12 per share is probably justified at an undemanding (no growth) 12-14x multiple. Any growth, which is already happening (NAM /... login to read the rest | |