Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on RESTAURANT GROUP PLC. We currently have 52 research reports from 4 professional analysts.
|20Feb17 10:49||RNS||Holding(s) in Company|
|06Feb17 16:49||RNS||Holding(s) in Company|
|06Feb17 10:45||RNS||Notice of Preliminary Results|
|31Jan17 16:05||RNS||Total Voting Rights|
|26Jan17 14:33||RNS||Holding(s) in Company|
|26Jan17 14:25||RNS||Holding(s) in Company|
|25Jan17 14:58||RNS||Holding(s) in Company|
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Research reports on
RESTAURANT GROUP PLC
RESTAURANT GROUP PLC
Kitchen-sinking or sinking kitchens?
31 Jan 17
We tentatively err towards the former. Resetting our forecasts following another profit warning last week, our 2017 EPS falls 15% to 22p, at the bottom of consensus and some 50% below market expectations 12m prior. A lot has happened in that period and a lot needs to happen to turn performance around. New management now in situ could be the catalyst, but the current rating is not enough to temp value/turnaround investors ahead of the strategy reveal on 9 March. We stay at HOLD for now, with a lowered 310p TP.
26 Jan 17
The Dow Jones yesterday broke through the 20,000 level for the first time in its 131-year history. That's up 9.5% since 8th November, one of its biggest ever quarterly rises, as President Trump demonstrates that he is going to practise exactly what he preached on the campaign trail, having already effected various 'crowd-pleaser', like the ending of Obamacare, exiting from the TPP while pressing the starting gun to build The Wall. So, the question that is now on the lips of investors worldwide is what is the next big stop? Will it be 25,000 or will it be 15,000? That's altogether a more tricky question. Let's assume Trump is an unstoppable train who, without looking over his shoulder, simply presses ever forward with his 'Trump Trade Doctrine'; a singular ambition to ensure that any action or deal must be designed to increase the American growth rate, decrease the trade deficit and strengthen the US productive base. For a country whose manufacturing exports make up only 6% of GDP, protectionism is not such a dirty word, even if the rhetoric 'America First' reads like a declaration of economic warfare. Whatever the wider global ramifications, near-term at least it would be hard for US-operating businesses, basking in the US$'s exception strength, not to enjoy significant benefit and the Dow to bound forward accordingly. The price that has to be paid, however, could be felt first in the form of an inflationary shock, forcing a less-than-obedient Fed to impose much higher rates on the nation's significantly indebted population. Beating up Mexico and China also carries a cost, given estimates that the two of them together account for a quarter of US trade, which in-turn affects as many as 5m private sector jobs should a full trade war commence. Ignoring WTO rules also stands to destroy the very institution that provides an essential framework of stability for the real world, to be replaced instead with a free-for-all. No country, however big, can prosper in such circumstances and, indeed, a period of global unrest could even result which would, of course, absolutely savage international equities. The world sincerely hopes that Mr Trump does recognise that he is playing with fire! More immediately, of course, the party continued this morning, with Asian equities led by the Nikkei strongly ahead as the Yen weakened marginally against the US$, with the highly international Hang Seng also tracking US euphoria while the Shanghai Composite put-in only a fractional gain with traders gossiping about Trump's prospective trade impositions and China reported dull December industrial profits growth. London this morning will be seen to join the celebrations, with the FTSE-100 seen rising some 15 points in early trade, although investors will be hoping some positive gestures can emerge from Theresa May's visit to the White House scheduled for tomorrow. The UK is scheduled to provide BBA Mortgage Approvals data, GDP preliminaries and the CBO Distributive Trades Survey this morning, which will be followed this afternoon by a large batch of US macro numbers, including Initial Jobless, Trade Balance, January PMI and New Home Sales. UK corporates due to release earnings or trade updates include Angle (AGL.L), Daily Mail & General Trust (DMGT.L), Diageo (DGE.L), Sky (SKY.L), Unilever (ULVR.L) and Whitbread (WTB.L).
N+1 Singer - Morning Song 25-01-2017
25 Jan 17
Applied Graphene Materials (AGM LN) Board and operational appointments | Centaur Media (CAU LN) Trading update provides reassurance | Clinigen Group (CLIN LN) In line H1 update | Eckoh (ECK LN) Significant contract win via Capita partnership | Restaurant Group (RTN LN) Mixed YE update with further downgrades | StatPro Group (SOG LN) Full year revenue and profits in line
A weak holding statement ahead of March strategy update
25 Jan 17
Today’s post-close update is something of a holding statement ahead of March prelims, where the focus will be on findings and initiatives from new management’s strategic review. In the meantime, those looking for an inflection in trading will be disappointed, with Q4 LFLs deteriorating to -5.9%; we wouldn’t be surprised if ‘in line’ means low end of 2016 guidance. We expect a wide range of expectations to persist for 2017 until trading plateaus. Too early to Buy.
20 Feb 17
Hayward Tyler Group* (HAYT): Trading update and financial position (CORP) | Petra Diamonds (PDL): Interim results (BUY) | Gemfields* (GEM): Interim results (CORP) | Premaitha Health* (NIPT): Middle East momentum (CORP) | Sound Energy (SOU): Acquisition update and TE-8 well spud (HOLD) | Proactis* (PHD): Interim trading on track (CORP) | 7digital* (7DIG): Automotive contract win (CORP)
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
N+1 Singer - Morning Song 22-02-2017
22 Feb 17
CORETX (COR LN) Contract wins and new Lifestyle facility | Gooch & Housego (GHH LN) Solid Q1 trading plus earnings enhancing acquisition of StingRay Optics | NCC Group (NCC LN) Further issues in Assurance | PCI-PAL (PCIP LN) Strong H1 underpins positive outlook | UBM (UBM LN) Results | Verona Pharma (VRP LN) Phase IIa RPL554 add-on trial to tiotropium commenced
The Crown Joules
15 Feb 17
We believe that own-brand retailers that operate a balanced multi-channel proposition will be well placed to prosper in a competitive apparel market going forward. Joules is one company in particular which we believe will outperform the sector given its loyal and growing customer base, distinctive brand and strong track record of opening profitable space. We initiate coverage on the shares with a buy recommendation and price target of 249p, implying upside of 16.9% over the prevailing market price.
N+1 Singer - Carpetright - Recovery has just begun
17 Feb 17
With UK LFLs up 6.8% in Jan against tough comparatives, and Europe LFLs up 5.4% in Q3, the first clear evidence is now visible that the transformation strategy is gaining momentum. Given some uncertainties, market forecasts are yet to reflect this, but upgrades seem likely as further initiatives are rolled out. Despite a recent bounce from its all time low, the valuation is still very low on consensus assumptions, where risk now appears to be shifting to the upside. With scope for re-rating too, our 300p target price has the scope to grow to 500p over 18 months. We re-initiate with a Buy.
Panmure Morning Note 19-01-2017
19 Jan 17
Pets at Home have released a Q3 trading update this morning that will disappoint the market. Group like-for-like revenue growth was just +0.1% through 3Q16 as subdued trading across the Merchandise business weighed on continued strong growth in Veterinary Services. Profit outlook for FY17 remains in line with expectations. Suspect the shares will come under pressure.