LSE:BMS

Stock Analysis Report

Braemar Shipping Services

Executive Summary

Braemar Shipping Services plc provides shipbroking, technical, and logistics services to the shipping, marine, energy, offshore, and insurance industries.

Snowflake

Fundamentals

Reasonable growth potential and fair value.

Share Price & News

How has Braemar Shipping Services's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

11.2%

BMS

-0.7%

GB Infrastructure

1.9%

GB Market


1 Year Return

-10.3%

BMS

6.2%

GB Infrastructure

2.4%

GB Market

Return vs Industry: BMS underperformed the UK Infrastructure industry which returned 6.2% over the past year.

Return vs Market: BMS underperformed the UK Market which returned 2.4% over the past year.


Shareholder returns

BMSIndustryMarket
7 Day11.2%-0.7%1.9%
30 Day6.7%-3.1%-1.1%
90 Day20.9%0.2%-1.8%
1 Year-3.5%-10.3%10.1%6.2%7.4%2.4%
3 Year-23.6%-35.6%20.1%9.9%18.2%3.7%
5 Year-38.2%-53.6%23.0%-11.7%35.7%6.1%

Price Volatility Vs. Market

How volatile is Braemar Shipping Services's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Braemar Shipping Services undervalued compared to its fair value and its price relative to the market?

40.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: BMS (£2.09) is trading below our estimate of fair value (£3.48)

Significantly Undervalued: BMS is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: BMS is unprofitable, so we can't compare its PE Ratio to the Infrastructure industry average.

PE vs Market: BMS is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

Low PEG Ratio: Insufficient data to calculate BMS's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: BMS is good value based on its PB Ratio (1.1x) compared to the GB Infrastructure industry average (1.9x).


Next Steps

Future Growth

How is Braemar Shipping Services forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

89.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BMS is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.2%).

Earnings vs Market: BMS is forecast to become profitable over the next 3 year, which is considered above average market growth.

High Growth Earnings: BMS's loss is forecast to worsen by 0% next year.

Revenue vs Market: BMS's revenue (4.6% per year) is forecast to grow faster than the UK market (3.9% per year).

High Growth Revenue: BMS's revenue (4.6% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if BMS's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has Braemar Shipping Services performed over the past 5 years?

-58.9%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BMS is unprofitable, and losses have increased over the past 5 years at a rate of -58.9% per year.

Accelerating Growth: Unable to compare BMS's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: BMS is unprofitable, making it difficult to compare its past year earnings growth to the Infrastructure industry (9.8%).


Return on Equity

High ROE: BMS has a negative Return on Equity (-7.99%), as it is currently unprofitable.


Return on Assets

ROA vs Industry: BMS is currently unprofitable, so its Return on Assets is negative.


Return on Capital Employed

ROCE Improving: BMS is currently unprofitable, so its Return on Capital Employed is negative.


Next Steps

Financial Health

How is Braemar Shipping Services's financial position?


Financial Position Analysis

Short Term Liabilities: BMS's short term assets (£51.3M) do not cover its short term liabilities (£71.5M)

Long Term Liabilities: BMS's short term assets (51.3M) exceeds its long term liabilities (13.2M)


Debt to Equity History and Analysis

Debt Level: BMS's debt to equity ratio (45%) is considered high

Reducing Debt: BMS's debt to equity ratio has increased from 0.2% to 45% over the past 5 years.

Debt Coverage: BMS's debt is well covered by operating cash flow (23.4%).

Interest Coverage: BMS is unprofitable, therefore interest payments are not well covered by earnings.


Balance Sheet

Inventory Level: BMS has a low level of unsold assets or inventory.

Debt Coverage by Assets: BMS's debt is covered by short term assets (assets are 1.956060x debt).


Next Steps

Dividend

What is Braemar Shipping Services's current dividend yield, its reliability and sustainability?

7.19%

Current Dividend Yield


Dividend Yield vs Market

company7.2%marketbottom25%2.0%markettop25%5.4%industryaverage3.9%forecastin3Years5.1%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BMS's dividend (7.19%) is higher than the bottom 25% of dividend payers in the UK market (2%).

High Dividend: BMS's dividend (7.19%) is in the top 25% of dividend payers in the UK market (5.42%)

Stable Dividend: BMS's dividend payments have been volatile in the past 10 years.

Growing Dividend: BMS's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: BMS is paying a dividend but the company is unprofitable.


Future Payout to Shareholders

Future Dividend Coverage: BMS's dividends in 3 years are forecast to be well covered by earnings (42.5% payout ratio).


Next Steps

Management

What is the CEO of Braemar Shipping Services's salary, the management and board of directors tenure and is there insider trading?

3.4yrs

Average management tenure


CEO

Braemar Shipping Services has no CEO, or we have no data on them.


Management Age and Tenure

3.4yrs

Average Tenure

Experienced Management: BMS's management team is considered experienced (3.4 years average tenure).


Board Age and Tenure

0.6yrs

Average Tenure

56yo

Average Age

Experienced Board: BMS's board of directors are not considered experienced ( 0.6 years average tenure), which suggests a new board.


Insider Trading

Insider Buying: BMS insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUK£9,90030 Aug 19
James Gundy
EntityIndividual
Shares5,000
Max PriceUK£1.98
BuyUK£17,97508 Jul 19
Steve Kunzer
EntityIndividual
Role
Member of the Board of Directors
Independent Non-Executive Director
Shares10,000
Max PriceUK£1.80
BuyUK£23,38105 Nov 18
Jurgen Breuer
EntityIndividual
Role
Member of the Board of Directors
Independent Non Executive Director
Shares10,300
Max PriceUK£2.27

Ownership Breakdown


Management Team

  • Nick Stone (56yo)

    Group Finance Director & Director

    • Tenure: 0.5yrs
  • Sebastian Davenport-Thomas

    Managing Director of the Shipbroking Division

    • Tenure: 12.8yrs
  • Ron Series (68yo)

    Executive Chairman

    • Tenure: 0.5yrs
  • Alex Vane

    Financial Controller

    • Tenure: 0yrs
  • Grant Smith

    Managing Director of Technical Services Division

    • Tenure: 3.4yrs
  • Geoff Jones

    Global Head of Adjusting & Marine

    • Tenure: 0yrs
  • Peter Mason

    Company Secretary

    • Tenure: 0yrs
  • Peter Wilson

    Head of the for Agency division

    • Tenure: 0yrs
  • Alex Field

    Head of the Freight Forwarding division

    • Tenure: 0yrs

Board Members

  • Nick Stone (56yo)

    Group Finance Director & Director

    • Tenure: 0.5yrs
  • Jurgen Breuer (53yo)

    Independent Non Executive Director

    • Tenure: 5.3yrs
    • Compensation: UK£50.00k
  • Lesley Watkins (60yo)

    Senior Independent Director

    • Tenure: 0yrs
    • Compensation: UK£52.50k
  • Steve Kunzer (53yo)

    Independent Non-Executive Director

    • Tenure: 0.7yrs
  • Ron Series (68yo)

    Executive Chairman

    • Tenure: 0.5yrs

Company Information

Braemar Shipping Services plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Braemar Shipping Services plc
  • Ticker: BMS
  • Exchange: LSE
  • Founded: 1842
  • Industry: Marine Ports and Services
  • Sector: Transportation
  • Market Cap: UK£62.631m
  • Shares outstanding: 30.84m
  • Website: https://www.braemar.com

Number of Employees


Location

  • Braemar Shipping Services plc
  • One Strand
  • Trafalgar Square
  • London
  • Greater London
  • WC2N 5HR
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BMSLSE (London Stock Exchange)YesOrdinary SharesGBGBPNov 1997
BSEA.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDNov 1997

Biography

Braemar Shipping Services plc provides shipbroking, technical, and logistics services to the shipping, marine, energy, offshore, and insurance industries. Its Shipbroking segment is involved in the tanker  ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/16 20:32
End of Day Share Price2019/10/16 00:00
Earnings2019/02/28
Annual Earnings2019/02/28


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.