Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on RENISHAW PLC. We currently have 19 research reports from 2 professional analysts.
|26Jan17 07:00||RNS||Half-year Report|
|09Jan17 10:00||RNS||Notice of Results|
|13Oct16 15:20||RNS||Result of AGM|
|13Oct16 10:54||RNS||Trading Statement|
|26Aug16 09:00||RNS||Annual Financial Report|
|27Jul16 07:00||RNS||Final Results|
|07Jul16 10:00||RNS||Notice of Results|
Frequency of research reports
Research reports on
N+1 Singer - Morning Song 30-01-2017
30 Jan 17
ATTRAQT Group (ATQT LN) Reverse takeover of Fredhopper, £28.5m Firm Placing and Open Offer | Conviviality (CVR LN) Delivering against strategy | Murgitroyd Group (MUR LN) Recovery in prospect after H1 setback | Realm Therapeutics (RLM LN) IND filing for lead atopic dermatitis programme | Renishaw (RSW LN) H1 results in line; backdrop more supportive | Revolymer (REVO LN) Joint development agreement with Akzo Nobel | SDL (SDL LN) Fredhopper cash disposal for £25m | Waterman Group (WTM LN) Positive trading update confirms in line H1 performance
N+1 Singer - Renishaw - H1 results in line; backdrop more supportive
30 Jan 17
Renishaw reported strong underlying sales growth of 12% for H1 17, with margins largely unchanged as investment continues to support long term growth. Improving industrial indicators suggest strong sales growth should continue or even accelerate over the coming months. However accompanying cost growth remains difficult to forecast, reflecting the group’s long-term approach to developing the business. Management has provided guidance for FY17 sales of £500-530m and PBT of £85-105m, with the mid-point of £95m only just above previous market expectations. We have increased our PBT forecasts by 3% to £95.9m for FY17 and by 7% for FY18 and FY19. We have also upgraded our recommendation to Hold with a 2923p target price (from 2242p), reflecting the more supportive backdrop.
N+1 Singer - Renishaw - Interim results and guidance in line with expectations
26 Jan 17
Renishaw has reported strong sales growth of 21% for H1 17, with margins largely unchanged as investment continues to support the long term. Management has given guidance of £85-105m for FY17 PBT, with the mid-point of £95m just above consensus of c.£92.7m. We view this as a reassuring update, but not one that is likely to drive significant changes to market expectations.
N+1 Singer - Morning Song 26-01-2017
26 Jan 17
Brewin Dolphin Holdings (BRW LN) Core FuM +3.4% on positive investment performance | Brooks Macdonald Group (BRK LN) +4.6% FuM: solid net inflows, benefiting from positive performance | EMIS Group (EMIS LN) In line trading update, market still challenging | Findel (FDL LN) Positive momentum and outlook in Express Gifts | Mobile Streams (MOS LN) H1 trading update – India scaling commences | Renishaw (RSW LN) Interim results and guidance in line with expectations | WYG (WYG LN) EU-financed contract wins support improving outlook
Q117 update; 7% organic revenue growth
13 Oct 16
Renishaw has developed world-leading market positions built on patented technology, and mediumterm growth should be sustainable as the global manufacturing industry looks to upgrade into state-of-the-art manufacturing systems with additive manufacturing, robotics, etc. likely to be strong growth drivers.
N+1 Singer - Capital Goods - Backdrop suggests upgrades ahead
09 Sep 16
Our latest review of the UK capital goods sector suggests a more positive outlook for our stocks, echoing the more hopeful picture we identified at the start of the year (Best Ideas 2016, 4 January). While growth remains very low, key indicators suggest a slight improvement for our universe by the end of 2016. More significantly, weak sterling is set to provide a materially bigger boost to sales in H2 than in H1 if FX rates are maintained. This does not appear to be reflected in consensus forecasts, which have also seen their first quarterly upgrade in Q3 to date after four years of quarterly downgrades. Share prices have risen sharply through 2016, taking our weighted sector P/E to c.20x. However the sector does not look expensive relative to the market, trading on its normal premium to the FTSE All-Share. To identify the best prospects we have assessed end market commentary from overseas capital goods groups, track records of growth and introduced quant screens relating to profitability and cash generation. Given the more positive tone to our findings, we have a number of Buy recommendations, but only one Sell. In this note we summarise the main inputs into our sector view, along with overviews of our coverage and some interesting non-coverage stocks.
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.
21 Feb 17
Lighthouse Group* (LGT): Middle Britain growth (CORP) | Utilitywise* (UTW): Double-digit sales growth (CORP) | Trakm8* (TRAK): Earnings expectations cut again (CORP) | dotDigital* (DOTC): Myriad growth opportunities (CORP) | Artilium* (ARTA): Five-year Telenet deal secured and prepaid (CORP) | Netcall* (NET): Cloud investment pays off (CORP)
N+1 Singer - Small-cap quantitative research - New quality style screen + 11 quality focus stocks
09 Feb 17
We introduce our fourth and final style screen representing “quality”. This screens for stocks with the best combination of high returns on capital/equity, EBIT margins and operating cash-flow conversion rates. These criteria should help us monitor how strong underlying returns translate into share price performance over time and under varying market conditions. The screen selects the “best” 25 stocks from our universe of just over 500 stocks and, as usual, we focus on a shorter list of stocks we cover or otherwise know and believe to be particularly interesting. We provide brief investment summaries on these focus stocks on pages 4 – 9. We will monitor performance and refresh the screen in approximately 3-4 months time.
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
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management