Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on TUNGSTEN CORP PLC. We currently have 3 research reports from 1 professional analysts.
|30Jan17 07:07||RNS||Director/PDMR Shareholding|
|10Jan17 10:41||RNS||Holding(s) in Company|
|22Dec16 07:00||RNS||Completion of Bank Sale|
|21Dec16 12:55||RNS||Holding(s) in Company|
|20Dec16 09:35||RNS||Director/PDMR Shareholding|
|14Dec16 07:00||RNS||Half-year Report|
|16Nov16 07:00||RNS||Sale of Tungsten Bank Receives Regulatory Approval|
Frequency of research reports
Research reports on
TUNGSTEN CORP PLC
TUNGSTEN CORP PLC
Focusing on growth and efficiency
19 Oct 16
Tungsten Corporation remains in its investment phase as it builds out its e-invoicing and related services. However, a little over a year since the appointment of Rick Hurwitz as CEO, there are real signs of operational progress with price increases, greater focus underlined by the expected sale of Tungsten Bank, and reorganisation and technology investment to achieve efficiencies. This should help deliver operational gearing and a move into EBITDA profitability during CY17 as Tungsten capitalises on the growth potential in the e-invoicing and related markets.
EBITDA breakeven forecast reiterated
24 Feb 16
At its recent capital markets day (CMD), Tungsten reiterated its financial targets and presented some of the measures it is undertaking to achieve them. If the business develops as it expects, Tungsten believes its current cash resources should be enough to allow it to meet its targets, while the cash resources tied up in its bank give it leeway. Tungsten is renewing its invoice financing initiative with a new, experienced leader to start in April 2016, with a wide-ranging strategy for winning business. It remains convinced about the long-term profit potential of these businesses. Tungsten’s shares have performed strongly since the start of the year and we estimate the market is applying a cost of equity of c 11% to its cash flows, down from c 24% when we initiated in January.
A renewed focus on efficiency
28 Sep 15
At Tungsten’s AGM its new CEO, Richard Hurwitz, announced that he is undertaking a thorough review of Tungsten’s operations to accelerate growth and improve on cost efficiency. Its strategic objectives remain unchanged and profit guidance given in July, to break-even in FY17, remains in place. Its ownership of Tungsten Bank remains under review. A more detailed review of the CEO’s proposals will be presented when the interim results are announced in December 2015.
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)
Industry fundamentals remain positive
21 Feb 17
The Biotech Growth Trust (BIOG) is a specialist vehicle, aiming to generate long-term capital growth via investment in global biotech stocks. Following a particularly volatile period for the biotech industry, where concerns about drug pricing and investor risk aversion have weighed heavily on stock prices, the managers are hopeful that greater clarity regarding US healthcare policy will lead to continued improved performance of biotech stocks. Industry fundamentals remain attractive, including continued innovation and valuations are very supportive, which offers the potential for higher industry merger and acquisition activity.
Lloyds, Best Of The Banks
23 Feb 17
Lloyds Banking Group PLC (LLOY) reported a strong result for FY-16, which has allowed it to pay a special dividend, plus has encouraged the UK government to reduce its stake in the bank to below 5%. Lloyds’ acquisition of the MBNA credit card business is proceeding on track, with all key M&A metrics being well satisfied. The outlook for Lloyds’ capital base, its profitability and thus the dividend prospects have all improved. This encourages us to ascribe a Buy rating to the stock, with a target price of 80p per share, derived from a prospective Price / Book value of 1.3x and a P/E ratio of 13x which we think are justifiable ratios.
Marked confidence in profitability resilience
22 Feb 17
LBG posted a good set of results at the operating level. Management showed its confidence in the group’s ability to protect its indecent profitability levels over the next three years by recommending an increased ordinary dividend and the payment of a special dividend, and by setting a stable return on required equity objectives.
Middle Britain growth
21 Feb 17
The Company has achieved our 2017 estimate in 2016 with EBITDA of £2.2m, up 37% on 2015. We upgrade our estimates by 10% at the EBITDA level in 2017. If the shares traded even at the lower end of comparators, they would trade at 17p. We expect the share price to reach our upgraded 17p price target in the short term. Few companies enjoy the unique positioning which Lighthouse has to benefit from the assets of Middle Britain.
N+1 Singer - Morning Song 21-02-2017
21 Feb 17
Abzena (ABZA LN) Contract bookings strong; US costs higher than expected | City of London Investment Group (CLIG LN) Earnings and interim dividend in line, some modest growth in FuM | dotdigital Group (DOTD LN) Good H1; broadening avenues of growth | Grafenia (GRA LN) Weak print volumes | Vernalis (VER LN) Interims highlight increasing Tuzistra™ scrip volume