Carnival (LSE: CCL) recovers, and Telecity (LSE: TCY) paints a classic growth picture.
The FTSE 100 (UKX) is sliding away from its 52-week high of 5,989 points today, falling 65 points (1.1%) to 5,794 points. That's largely due to strikes in Greece, and austerity protests amid poor economic figures from Spain.
But there are plenty of individual companies that aren't affected too much by that, and are soaring nicely regardless. Here are three pushing their high points today...
Cruise operator Carnival (LSE: CCL) has made a strong recovery since the Costa Concordia sinking, and today hit a new 2012 high of 2,369p. That's not quite up to its 52-week high of 2,378p set late last year, but it is more than 30% up on the £18 level that the shares were trading at around February and March.
Since looking at the shares back in June, I am surprised by the strength of the bounce, and though there is an earnings recovery forecast for the year to November 2013 (this year should be down a bit), it does put the shares on a forward price-to-earning (P/E) ratio for that year of over 15 with a dividend yield of only 3%. That looks a bit too expensive to me.
If you want to see a classic growth share, take a look at Telecity Group (LSE: TCY), the data centre provider. Its shares have soared from 156p at the start of 2009, to be bouncing close to a record high of over the 900p mark -- today they're down a bit from that on 885p, but that's still more than a five-and-a-half-fold rise.
There are good earnings growth forecasts for the next two years too, with 25% expected for both 2012 and 2013. But the company is still clearly on growth share pricing with a forward P/E of nearly 30, and about the only confident thing we can say about such shares is that they keep going up until they come down again. The question is how high will they go before that happens.
The transaction processing provider PayPoint (LSE: PAY) has been soaring, too, and has more than trebled since early 2010 to reach a new peak of around 750p. It's been up and down around that point for a few days, and currently is back a little on 744p.
Again we have strong forecasts, though more modest this time at 10% earnings growth per year for the next two years. The valuation, on a P/E of 17, is lower, and there's a dividend of a bit over 4% expected, so could this be a good one for a growth punt? Maybe, but I prefer something less risky.
In fact, I generally prefer good dividend-paying shares, and I reckon the Motley Fool report “8 Shares Held By Britain's Super Investor”, which takes a look at some of ace investor Neil Woodford's major holdings, is a great guide. Click here to get your free copy, while it's still available.
And if you're looking for the excitement of riches from the oil and gas industry, try the new Motley Fool report, “How To Unearth Great Oil & Gas Shares”. It's free, so click here for your personal copy.
Further Motley Fool investment opportunities:
> Alan does not own any shares mentioned in this article.