Sunday tips round-up: Balfour Beatty, Booker, PHP

20th Sep 2009 11:46

Balfour Beatty has unveiled a major acquisition, funded through a £353m rights issue. Balfour is offering three shares for seven at 180p each, a 48pc discount to the previous closing share price of 344p. The shares are trading on a December 2009 earnings multiple of 9 times and yielding 3.8pc. The shares remain a buy, according to the Telegraph.Napolean is reported to have described Britain as a nation of shopkeepers. The remark was meant to be disparaging, but for companies such as Booker Group, it is quite the reverse. Booker went through troubled times in the Nineties, but the current management, under chairman Richard Rose and chief executive Charles Wilson, is determined to turn the business round. Wilson is well regarded and he has assembled a capable team to deliver increased sales and profits. With eight per cent of the shares, which closed on Friday at 393/ 4p, his interests are clearly aligned with those of investors. Buy, says the Daily Mail.Doctors surgery operator Primary Health Properties (PHP) has unveiled a fund-raising. The company has placed shares with institutions but, importantly, current shareholders can also subscribe for shares through an open offer. New buyers of the shares can still lock in the 8.5p interim dividend, which will be paid on October 9. They are trading on a December 2012 earnings multiple of 15.9 times and yielding a worthwhile 5.8pc. Buy, says the Telegraph.Quarto is a niche business, providing beautiful products for customers who know what they want. The company is not immune to recession, but it is more defensive than many and its shares are undervalued. Buy, says the Daily Mail.Please note: Digital Look provides a round-up of news, tips and information that is impacting share prices and the market. Digital Look cannot take any responsibility for information provided by third parties. This is for your general information only as not intended to be relied upon by users in making an investment decision or any other decision. Please obtain a copy of the relevant publication and carry out your own research before considering acting on any of this information.