UK Stock Market News Today – 7-May-2019
Morning all!
4imprint (FOUR) – 2580p – £724m – PER 22.1
AGM Statement – In a strong position to hit £1bn in Revenue by 2022, first 4 months of 2019 strong with Revenue up 16%, early in the year but Board confident of delivering on FY expectations.
Looks fairly valued here to me.
Begbies Traynor (BEG) – 60p – £69m – PER 11.5
Trading Update For The 12 Months To End April 2019 – FY To be comfortably ahead, entering the new year with a strong Order book and favourable market conditions.
Still think there’s value here (perhaps a lot) but the poor ROCE and Op margin hold me back.
Costain (COST) – 325p – £350m – PER 8
AGM Statement – In-line.
Looks like there’s value here – Low growth and low margin offset by Net Cash and a decent Yield.
Empresaria (EMR) – 74p – £36m – PER 6
AGM Statement – Om course to meet FY expectations (reliant on H2 weightings).
Even on a PER of 6 still doesn’t tempt me – Net Debt is high, Operating margin is low, (EPS) growth is forecast <2% per year and now, H2 weighting too!
Kape Technologies (KAPE) – 90p – £130m – PER 14.9
AGM Statement – Strong start to the year, trading in-line, subscriber number growth exceeding expectations.
I am Long here and this seems good enough reason to remain so for now (based on the expectations (Broker forecasts) I have access to).
SDL (SDL) – 532p – £482m – PER 17.7
AGM Statement – At the end of Q1 trading is in-line with the Board’s expectations.
Would have been nice to have some view on FY here today, I remain of the view that this seems about fairly priced around this level.
Treatt (TET) – 410p – £241m – PER 22
Interim Results For The 6 Months To End March 2019 – Reasonable all round growth circa the 5% – 7% area here. Confident of meeting FY expectations.
I still see no justification for a PER in excess of 20 here (I must be missing something!).
As always, all comment most welcome!
