Ultra Electronics issued 'buy' rating after full year results
29th Feb 2016 10:20
(ShareCast News) - Ultra Electronics was issued a 'buy' rating and a target price of 2,060p by Investec after the company reported its full year results. The FTSE 250 firm reported a 1.8% rise in 2015 revenue to £726.3m. Underlying operating profit was up 1.6% to £120m, and underlying profit before
Read moreTight defence budgets dampen Ultra Electronics results
29th Feb 2016 08:25
(ShareCast News) - Tough decisions for governments were affecting defence budgets, making for difficult trading at Ultra Electronics in 2015, with the company releasing its final report for the calendar year on Monday. The FTSE 250 firm saw revenue rise 1.8% during the period to £726.3m. Underlying
Read moreUltra Electronics losing group finance director
25th Feb 2016 12:02
(ShareCast News) - Mary Waldner confirmed she was departing Ultra Electronics on Thursday, leaving her post as group finance director. The FTSE 250 firm said Waldner was leaving to become the group CFO at Lloyds Register, a privately-held global engineering, technical and business services organisat
Read moreBerenberg turns stock picking spotlight on defence sector
20th Jan 2016 11:58
(ShareCast News) - Highlighting the importance of stock selection in the defence sector, Berenberg shone a spotlight on increasing margin pressures in coming years and downgraded Qinetiq to 'sell', upgraded Ultra Electronics to 'buy' and reiterated a 'sell' on Cobham. Berenberg, which also kept its
Read moreUltra Electronics confident of meeting full year expectations
11th Nov 2015 08:10
(ShareCast News) - Defence, security and transport group Ultra Electronics expects its full year performance to be in line with expectations. In a trading update released on Wednesday, the FTSE 250 group said strong cost control and the planned restructuring of its portfolio ensured the company perf
Read moreUltra Electronics buys Furnace Parts for $12m
14th Oct 2015 07:35
(ShareCast News) - Ultra Electronics has acquired Furnace Parts from Takoda Group for a cash consideration of $12m. The electronics and software technology company said the acquisition will extend its specialist temperature sensing capabilities in both US and international markets. Furnace Parts is
Read moreFTSE 250 movers: Slump in commodities pulls mining stocks lower
28th Sep 2015 17:02
(ShareCast News) - The FTSE 250 dropped 1.11% at the close, with Kaz Minerals the biggest faller on the London index as commodity prices declined. Shares in Kaz Minerals plunged 26.35%, along with a batch of other miners in the sector as investors digested a drop in metal prices and weak Chinese ind
Read moreUltra Electronics boosted by JPMorgan upgrade
28th Sep 2015 12:22
(ShareCast News) - Ultra Electronics got a boost as JPMorgan Cazenove upgraded the stock to 'overweight' from 'neutral'. The bank said the upgrade reflects three things. Firstly, it noted the stock has pulled back 12% since 3 June. Secondly, it pointed to green shoots of recovery in western defence
Read moreUltra Electronics completes $265m acquisition of Kratos division
24th Aug 2015 08:09
(ShareCast News) - Ultra Electronics said it completed the acquisition of the electronics division of Kratos Defense & Security Solutions. The FTSE 250 listed firm paid $265m in cash for what was its largest acquisition to date. Ultra said in an announcement its acquisition had received US regulato
Read moreUltra Electronics' interim profit plunges on Oman writedown
3rd Aug 2015 09:08
(ShareCast News) - Defence group Ultra Electronics Holdings saw its interim pre-tax profit plunge on the back of a writedown due to the loss of its contract in Oman. In the six months to 30 June, the London-listed company posted a 67.6% year-on-year drop in pre-tax profits to £14.8m, while revenue d
Read moreGoldman Sachs expects rethink on bank levy in UK Budget
7th Jul 2015 12:43
Ahead of Chancellor George Osborne's Budget on Wednesday, here's a round-up of what Goldman Sachs expects. For UK banks, attention will be focused on any potential reform of the bank levy, as Osborne did not discuss it in his Mansion House speech in June, despite prior speculation. Goldman does not
Read moreUltra Electronics awarded £18m submarine contract by Rolls-Royce
7th Jul 2015 07:38
Ultra Electronics said on Tuesday that its PMES business has been awarded a contract worth £18m by Rolls-Royce, relating to the design and development of reactor control and cooling systems for Royal Navy submarines. The contract is the result of a successful, collaborative partnership between the t
Read moreBerenberg downgrades Ultra Electronics ahead of 'another year of decline'
30th Jun 2015 11:34
Berenberg cut its rating on Ultra Electronics to 'sell' from 'hold' while reducing the target price to 1,600p from 1,900p following a capital markets day on 24 June. The bank said Ultra has not delivered organic growth since 2011 and the outlook remains muted in 2015 due to continuing pressures in t
Read moreInvestec reiterates 'buy' rating on Ultra Electronics as it restructures
24th Jun 2015 13:04
Investec has kept a 'buy' rating on defence group Ultra Electronics and kept its price target at 2060p. Ultra outlined further details of its group-wide initiative to standardise systems together on Monday. Investec said the new plan would help the firm evolve and expected the plan to help drive a
Read moreUltra Electronics continues to standardise systems, outlook unchanged
24th Jun 2015 07:24
Defence group Ultra Electronics has outlined further details of its group-wide initiative to standardise systems together with some processes to drive business efficiency. The company estimated that the total project costs of about £30m over three years will generate enduring annual efficiency savin
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