Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on STRIDE GAMING PLC. We currently have 9 research reports from 3 professional analysts.
|28Nov16 07:00||RNS||Audited results for the year ended 31 August 2016|
|15Nov16 04:33||RNS||Refinancing of existing loan|
|06Oct16 12:08||RNS||Final Earn-Out Transfer and Issue of Equity|
|19Sep16 07:00||RNS||Trading Statement|
|31Aug16 08:21||RNS||Director/PDMR Shareholding|
|31Aug16 08:17||RNS||Director/PDMR Shareholding|
|31Aug16 08:08||RNS||Completion of Acquisitions|
Frequency of research reports
Research reports on
STRIDE GAMING PLC
STRIDE GAMING PLC
Successfully engaging players
06 Dec 16
Stride has a clear focus on online bingo and soft gaming and is growing rapidly, with FY16 l-f-l revenue up 22%. The acquisitions of Tarco and 8Ball at the end of FY16 doubled its share of the UK bingo-led market from 5% to 10% and should deliver material synergies from FY17. Our unchanged FY17 estimates are for 11% EPS growth and strong cash generation. We expect organic growth to be augmented by further accretive acquisitions in due course. Stride’s FY17 P/E is 10.3x and the calendarised EV/EBITDA is only 7.1x, implying considerable share price upside potential.
Another step change in scale
19 Sep 16
We have materially increased our FY17 profit forecasts for Stride (EPS raised by 14%) to reflect the acquisitions of Tarco and 8Ball and a positive trading update. The acquisitions double Stride’s estimated share of the UK online bingo market from 5% to 10% and are earnings accretive from day one. They mark a significant step forward in Stride’s ambition to be a global leader in digital soft gaming verticals. Its considerable progress is not yet reflected in its calendar 2017e EV/EBITDA of 8.3x.
15 Aug 16
Australian fintech company ThinkSmart Ltd intends to switch its quotation from ASX to AIM. This is the culmination of a strategic review started nearly a year ago. Henderson is subscribing for £5m-worth of shares at 25p (A$0.44) each in a pre-flotation placing at a premium to the ASX market price, which will give the fund manager 17% of the enlarged share capital. ThinkSmart requires regulatory approvals and a ruling from the Australian Taxation Office in order to go ahead with the transfer of quotation. Shareholders will also have to agree to the move. The introduction to AIM is expected to happen in early November, following a tender offer for up to 10 million shares. The cash raised from Henderson will be used to develop the business but it will also help to finance the tender offer, which will be at an indicative share price range of A$0.38 to A$0.55. ThinkSmart provides digital, paperless and retail point of sale finance services via its SmartCheck technology. Dixons Carphone Group subsidiary Dixons Retail is a major customer and the relationship goes back 13 years. Together they have developed a leasefinance package called Upgrade Anytime, which enables customers to upgrade to the latest computer and consumer electronics equipment. A contract has recently been won with the Carphone Warehouse subsidiary. Although ThinkSmart is based in Western Australia it also has an office in Manchester.
23 May 16
Stride Gaming’s interim results for the six months to end February 2016 show that it continues to execute well. L-f-l revenue was up 21%, led by its online bingo and slots offering (up 31%, well ahead of the wider market). Its social gaming business increased profit and margins on flattish revenues as management dialled down marketing while it invested in product improvements. We increased our FY16 EBITDA estimate by £0.5m to £11.8m. An inaugural interim dividend of 1.1p per share was announced, a year earlier than we had expected, in recognition of the cash-generative nature of Stride’s business and management’s positive outlook.
05 Dec 16
These interims show LPEs by is ahead of its plan to recruit 360 LPEs by April 2017 and is making impressive progress in Australia. The statement (and we expect the results presentation) provide considerable evidence of Purplebricks’ progress in building its brand, increasing its LPE footprint, developing its technology, creating engaging marketing and selling properties. We leave our forecasts unchanged. Investor confidence in Purplebricks’ ability to deliver sustainable profitable growth should result in share price appreciation towards a valuation based on its results for the year ended April 2019.
Joy of Techs
21 Nov 16
ICT evolution is driven by technological development as advances are made which both meet and shape customer requirements. Our 2011 note No such thing as a telco described the modern reality in that former ‘telcos’ now deliver varying elements of a range of managed services. We built on this theme last year, exploring in further detail their evolutionary paths, operating fundamentals, and cashflow yield similarities. In the consumer environment, demand for bundles of technology is complemented by demand for content. Across the pond, the mooted combination of AT&T and Time Warner typifies the bundled need of ‘pipe’ and content, since unbundled alternatives such as FaceTime and WhatsApp can be easier and clearer to chat over, and Amazon and Netflix are easier to watch anywhere. In the UK, BT’s defensive actions cover delivery, content and capabilities, acquiring EE yet also buying football rights. While TV was long ago added to triple play to become quad play, voice is now merely an app, and fixed and mobile seen as just dumb pipes: it's the content that will influence consumer choices. Growth of TV and film as well as music and gaming over IP leads to UK small cap opportunities. In context of the drive to maximise value from pipes and access by offering content and data, we look at some amongst the potential tech small cap beneficiaries: Amino*, Keyword Studios, ZOO Digital*, 7digital*, KCOM* and CityFibre*.
Dominant, defensive and highly cash generative
24 Nov 16
Pets at Home have reported a strong set of interims for the 28 week period to 13th October which highlight the investment strengths. This is a high quality retail business that enjoys a dominant position in an attractive and highly defensive subsector. The company has a pipeline of profitable store openings, reports consistently positive like-for-like growth and is highly cash generative. We therefore reiterate our Buy recommendation and price target of 271p.
Small Cap Breakfast
07 Dec 16
Creo Medical group—Schedule 1 update.. £20m raise. Expected market cap £61.2m, admission expected 9 December. ECSC—Schedule 1 from provider of cyber security services. Raising £5m. Vendor sale £0.8m. Target date 14 Dec. Expected market cap £15m. RM Secured Direct Lending - The secured direct lending fund intends to float on the Main Market on 15 December raising up to £100m
Interims – Further strong growth delivered
17 Nov 16
Overview. Interim results show that the Group had a very successful summer 2016 trading season, with revenues up 21% to £1,240.8m and operating profit up 14% to £167.5m. Adjusted PBT (excluding a £4.6m FX revaluation loss) was up 14.6% to £168.3m. Cash generation was also strong, with net cash up £144.6m since the year end, to £465.7m. The interim dividend was increased 53% to 1.375p.