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REXAM UNDER VALUED (REX)     

andrewcaldin - 13 Dec 2007 03:46

REXAM UNDER VALUED


Summary Analysis

REX.L is undervalued compared to its Price of $487.5GBX per share, has somewhat above average safety, and is currently rated a Hold.

Graphs

Rexam Plc


Container (Metal\\Glass)





Detailed Analysis


Capital Appreciation

Value: Value is a measure of a stock\'s current worth. REX.L has a current Value of $660.52GBX per share. Therefore, it is undervalued compared to its Price of $487.5GBX per share. Value is computed from forecasted earnings per share, forecasted earnings growth, profitability, interest, and inflation rates. Value increases when earnings, earnings growth rate and profitability increase, and when interest and inflation rates decrease. VectorVest advocates the purchase of undervalued stocks. At some point in time, a stock\'s Price and Value always will converge.

RV (Relative Value): RV is an indicator of long-term price appreciation potential. REX.L has an RV of 1.10, which is good on a scale of 0.00 to 2.00. This indicator is far superior to a simple comparison of Price and Value because it is computed from an analysis of projected price appreciation three years out, AAA Corporate Bond Rates, and risk. RV solves the riddle of whether it is preferable to buy High growth, High P/E stocks, or Low growth, Low P/E stocks. VectorVest favors the purchase of stocks with RV ratings above 1.00.



RS (Relative Safety): RS is an indicator of risk. REX.L has an RS rating of 1.16, which is good on a scale of 0.00 to 2.00. RS is computed from an analysis of the consistency and predictability of a company\'s financial performance, debt to equity ratio, sales volume, business longevity, price volatility and other factors. A stock with an RS rating greater than 1.00 is safer and more predictable than the average stock in the VectorVest database. VectorVest favors the purchase of stocks of companies with consistent, predictable financial performance.

RT (Relative Timing): RT is a fast, smart, accurate indicator of a stock\'s price trend. REX.L has a Relative Timing rating of 0.94, which is fair on a scale of 0.00 to 2.00. RT is computed from an analysis of the direction, magnitude, and dynamics of a stock\'s price movements over one day, one week, one quarter and one year time periods. Once a stock\'s price has established a strong trend, it is expected to continue in that trend for the short-term. If a trend dissipates, RT will gravitate toward 1.00. RT will explode from bottoms, dive from tops, and reflect changes in price momentum. VectorVest favors the purchase of stocks with RT ratings above 1.00.

VST (VST-Vector): VST is the master indicator for ranking every stock in the VectorVest database. REX.L has a VST rating of 1.06, which is fair on a scale of 0.00 to 2.00. VST is computed from the square root of a weighted sum of the squares of RV, RS, and RT. Stocks with the highest VST ratings have the best combinations of Value, Safety and Timing. These are the stocks to own for above average, long-term capital appreciation. VectorVest advocates the purchase of safe, undervalued stocks rising in price.

Recommendation (REC): VectorVest gives a Buy, Sell, Hold recommendation on every stock, every day. REX.L has a Hold recommendation. REC reflects the cumulative effect of all the VectorVest parameters working together. These parameters are designed to help investors buy safe, undervalued stocks rising in price. They also help investors avoid or sell risky, overvalued stocks falling in price. VectorVest recommends that investors buy high VST-Vector, Buy-rated stocks in rising markets.

brianboru - 10 Oct 2008 16:39 - 2 of 33

Itt certainly was today...

XSTEFFX - 19 Feb 2009 12:13 - 3 of 33


maestro - 19 Feb 2009 12:40 - 4 of 33

maybe the fall was manipulated to trigger stop losses before the big recovery ;-)

skinny - 19 Feb 2009 12:47 - 5 of 33

From Greystone's midday round up.

Consumer packaging giant Rexam fell 26.75p at 282.75p after it said tougher conditions in the second half of 2008 were offset by favourable currency moveents. The company reported a 34% gain in underlying profit before tax to 328m in 2008 from 2007s level of 245m.

brianboru - 27 Jul 2009 07:18 - 6 of 33

Rexam plc


Statement re press coverage


Rexam plc notes recent press coverage regarding a possible issue of new equity by the Company. It confirms that although trading conditions in recent months have shown no upturn from the first quarter, Half-Year results to be announced on 30 July will at least meet market expectations. Covenant headroom remains comfortable, with net debt to ebitda of 2.6 times at the half year and well below the principal debt covenant of 3.5 times.

With the Board now seeing no upturn in current trading conditions through 2009, management has launched a number of significant cost saving initiatives and is considering others which, with those already announced, will have a material benefit on Rexam's performance in 2010. However the absence of upturn will reduce Rexam's ability to generate significant free cash flows to pay down debt in 2010.

The Board has consequently concluded that the risk of a downgrade to sub investment grade has significantly increased and has now become unacceptably high. The loss of investment grade credit rating would be detrimental to the Group, both in terms of the cost and the availability of future credit. Accordingly the Company is considering a number of options including an equity raising. No final decision on any course of action has been taken and the Company will update the market as appropriate.

nordcaperen - 29 Jul 2009 09:51 - 7 of 33

Can someone explain the rights issue please - thinking of selling today, wise move or not ??

2517GEORGE - 29 Jul 2009 13:44 - 8 of 33

nordcaperen-- If you hold 11 shares (276.25p being the latest value prior to the announcement) you can buy another 4 @ 150.00p each. The theoretical sp is obtained from the following (11 x 276.25) + (4 x 150.00) divided by 15 (your new total holding) which equals 242.58p The value of your holding atm is 11 x 276.25 = 30.387p the value of your holding increases by the additional 6.00 paid for your new shares, ie 15 x 242.58 = 36.387p (In theory) Sorry it's long winded.
2517

brianboru - 30 Jul 2009 09:08 - 9 of 33


Anyone know the ticker for the nil rights which trade today?

brianboru - 30 Jul 2009 10:36 - 10 of 33

REXN

nordcaperen - 30 Jul 2009 10:58 - 11 of 33

Sold yesterday, so think I missed out. Think you had to be holding today.

goldfinger - 24 Aug 2009 15:03 - 12 of 33

Rexham rex certainly bottomed out and up through the negative gap caused by the call for funding and the rights issue.

2 long down bars looks like easy pray to me for the bulls of the stock to overcome and a quick move to 298p and 330p resistance on large volume (pointed out on lower indicator)could be on the cards.



cynic - 24 Aug 2009 15:08 - 13 of 33

not exactly a sector to set the pulse racing is it

goldfinger - 24 Aug 2009 15:14 - 14 of 33

Nope agreed cyners but just look how soft the obstacles in the way of the bulls are. 2 big weak down bars and a smidging one in between.

Should be easy to overcome on the bull side.

goldfinger - 26 Jul 2010 14:25 - 15 of 33

I see Investors Inteligence were backing REXHAM REX today and friday.....

Rexam - Broke out of the 330p resistance lately, signalling that a new upleg has begun. Also, watch for a relative upside breakout. We buy some now and more on a setback.



Just added some more.

goldfinger - 26 Jul 2010 15:30 - 16 of 33

Well the brokers are backing this one.......

derd cheap historicaly trading on a P/E of just 11.5 to 2011


REXAM PLC

FORECASTS 2010 2011
Date Rec Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Charles Stanley
23-07-10 HOLD 345.00 27.60 12.00 371.00 29.30 12.60

Oriel Securities
23-07-10 BUY 373.50 29.80 13.20 420.20 33.50 13.50

Seymour Pierce
22-07-10 BUY

The Royal Bank of Scotland NV
08-07-10 BUY 324.80 25.10 12.00 389.80 30.13 13.50

2010 2011
Pre-tax () EPS (p) DPS (p) Pre-tax () EPS (p) DPS (p)

Consensus 345.00 28.94 12.00 389.80 30.13 13.50

1 Month Change 2.07 1.50 -0.07 0.28 -0.55 0.90
3 Month Change 8.60 2.09 0.00 1.46 -0.54 0.30


GROWTH
2009 (A) 2010 (E) 2011 (E)

Norm. EPS -9.68% 5.92% 4.11%
DPS -40.02% 10.09% 12.50%

INVESTMENT RATIOS
2009 (A) 2010 (E) 2011 (E)

EBITDA 584.00m 738.80m 803.80m
EBIT 357.00m m m
Dividend Yield 3.14% 3.46% 3.89%
Dividend Cover 2.51x 2.41x 2.23x
PER 12.69x 11.98x 11.51x
PEG -1.31f 2.02f 2.80f
Net Asset Value PS -18.36p 263.28p 274.67p

goldfinger - 28 Jul 2010 07:55 - 17 of 33

Excelent Results....

RNS Number : 0335Q
Rexam PLC
28 July 2010



Strong profit growth and improved returns

Rexam, the global consumer packaging company, announces its results for the six months to 30 June 2010.

Underlying business performance1



Six
months to 30.06.10


Six
months to 30.06.09





Sales (m)
2,491


2,516





Underlying operating profit (m)1
266


218





Underlying profit before tax (m)1
198


135





Underlying earnings per share (pence)1,2
15.9


13.0





Interim dividend per share (pence)
4.0


-








Highlights

Organic3 sales up 2% as volumes begin to recover

Organic3 operating profit up 25%

Strong free cash flow of 130m

Return on capital improved to 12%

Beverage Cans volume growth of 2% driven by strong recovery in specialty cans

Plastic Packaging performance in line with expectations

Interim 2010 dividend of 4.0p

Commenting on the 2010 half year results, Graham Chipchase, Rexam's Chief Executive, said:

"We are pleased with our performance in the first half. There has been some volume recovery as well as pricing improvement. Our relentless cost control has driven strong profit growth. Tight management of capital expenditure and working capital has yielded good cash flow, and our return on capital has improved significantly.

In most of our businesses, the trading environment is stabilising and the outlook for Beverage Cans has improved since the start of the year. However, uncertainty persists about the global economic outlook and visibility remains low.

We expect our results in the second half of the year to be similar to those of the first. We are confident that our focus on the fundamentals of cash, costs and return on capital will continue to strengthen our business and improve shareholder value."

goldfinger - 01 Oct 2010 14:28 - 18 of 33

30 Sep 2010 - 07:19

Sept 30 (Reuters) - Paper & Packaging: * Credit Suisse cuts Sappi Ltd Svenska Cellulosa AB SCA to

underperform from neutral * Credit Suisse raises Mondi Plc price target to 640P from 625P * Credit Suisse raises Norske Skogindustrier ASA price target to NOK

11.25 from NOK 10.85 * Credit Suisse raises Rexam PLC price target to 365P from 360P *

goldfinger - 15 Mar 2012 15:41 - 19 of 33

Just gone long on REX lovely chart breakout fundys very sound and way too cheap.

cant get chart up for some reason?.

goldfinger - 23 Mar 2012 09:29 - 20 of 33

Still in a lovely uptrend.

goldfinger - 23 Mar 2012 09:45 - 21 of 33

REX Rexham.

Brokers bullish on the stock
and its trading on a forward P/E
of just 10.4 to 2013

REXAM PLC

FORECASTS 2012 2013
Date Rec Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Charles Stanley
16-03-12 ACCU 464.00 37.00 15.50 515.00 41.10 16.50
Seymour Pierce
01-02-12 BUY 483.60 38.70 15.40 525.30 42.00 16.70

2012 2013
Pre-tax (£) EPS (p) DPS (p) Pre-tax (£) EPS (p) DPS (p)

Consensus 469.40 37.47 15.47 517.84 41.35 16.56

1 Month Change 0.14 0.01 -0.00 0.07 0.01 0.00
3 Month Change -0.16 -0.22 0.01 21.29 1.73 -0.32


GROWTH
2011 (A) 2012 (E) 2013 (E)

Norm. EPS 28.61% 1.88% 10.36%
DPS 5.83% 21.83% 7.00%

INVESTMENT RATIOS
2011 (A) 2012 (E) 2013 (E)

EBITDA £191.00m £755.10m £799.60m
EBIT £m £557.50m £587.40m
Dividend Yield 2.95% 3.60% 3.85%
Dividend Cover 2.90x 2.42x 2.50x
PER 11.69x 11.48x 10.40x
PEG 0.41f 6.10f 1.00f
Net Asset Value PS 15.68p 349.10p 378.20p
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