Morning Brief – 21-May-2019

Morning Brief Images 21-May-2019

UK Stock Market News Today – 21-May-2019

Morning all!

Back after Mello, it was a pleasure to meet many of you.

Accesso Technology (ACSO) – 790p – £177m – PER 18.5

Trading Update For The 4 Months To End April 2019 – Exisitng FY guidance unchanged.

Looks about fairly valued to me, based on the EPS forecasts I have access to, 2019E 50.7p, 2020E 58.4p.

Bloomsbury Publishing (BMY) – 234p – £177m – PER 14.5

Results For The 12 Months To End February 2019 – PBT (before exceptionals) ahead of expectations up from £13.2m to £14.4m, Diluted EPS up 16% ro 12.25p with the Final Dividend up 6%. This YTD is performing in-line.

Looks reasonable value although I reckon 250p could be a cap.

Epwin (EPWN) – 82p – £116m – PER 7.5

AGM Trading Update – Expects to meet FY expectations it seems.

Still commands a high StockRank (92) and still I remain unconvinced.

GYG (GYG) – 72p – £34m – PER 30.4

Trading Update For The 12 Months To End December 2019 – Expects FY to be ahead of market expectations.

This seems to mean a return to profitability – Although this is quite encouraging I will wait until I see those FY actuals, or more accurate guidance.

Knights Group (KGH) – 283p – £207m – PER 17.4

Trading Update For The 12 Months To End April 2019 – Expects FY Adjusted PBT to be slightly ahead of management expectations.

This is on my Watchlist, based on this, I am now tempted to open a position.

Nexus Infrastructure (NEXS) – 123p – £47m – PER 8.7

Interim Results For The 6 Months To End March 2019 – Revenue up 12.9% with Operating Profit down from £3.5m to £2.9m, Net Cash at £12.4m (£7.4m last time), Interim Dividend same as last year (2.2p). The Order Book is up 32.6%.

After at least a couple of Profit Warnings in the past year or so, I remain wary here.

Renew Holdings (RNWH) – 414p – £311m – PER 10.3

Interim Results For The 6 Months To End March 2019 – A record trading period and expects FY to be in-line.

I still see this as fairly priced around the 400p level.

Restore (RST) – 370p – £460m – PER 12.8

Q1 Trading Update – In-line, FY unchanged, new CFO.

Looks about fairly priced (on a 2 year view) here to me.

Shoe Zone (SHOE) – 227p – £113m – PER 12.9

Interim Results For The 6 Months To End March 2019 – Static (at best), which seems to be in-line, FY in-line.

I reckon I am comfortable enough waiting to see how the FY looks here although I will also keep an eye out for updated Broker notes in the meantime.

Topps Tiles (TPT) – 78p – £151m – PER 11.3

Interim Results For The 26 Weeks To End March 2019 – Resilient though no clear guidance on FY.

Would be better to have a bit more guidance here – Happy to wait until FY results come in.

As always, all comment most welcome!

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