Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on REDCENTRIC PLC. We currently have 44 research reports from 3 professional analysts.
|22Mar17 17:09||RNS||Holding(s) in Company|
|20Mar17 07:00||RNS||Regulatory Update|
|16Mar17 16:56||RNS||TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES|
|13Mar17 15:05||RNS||TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi|
|09Mar17 10:08||RNS||TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES|
|08Mar17 17:15||RNS||TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi|
|06Mar17 16:58||RNS||TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARESi|
Frequency of research reports
Research reports on
Interims: restoring forecasts
11 Jan 17
Redcentric released interims before Christmas, with an analyst meeting this morning, however no new related news is available. The extent of the accounting misstatement has already been quantified at £20.8m, of which £5.9m related to the interim period ending September 2016, relating to accounting practices, policies, and errors regarding cost accrual, cost deferral, and revenue recognition. Having withdrawn original forecasts with the initial revelations, we reintroduce amended forecasts, assuming that the forensic accounting investigation has uncovered the issues, and having been corrected that 2H17 performance (to March) continues to replicate performance in 1H17 (to September 2016), as management guidance indicates. Target 117p.
11 Jan 17
Joules Group (JOU): Strong festive trading (BUY) | Shoe Zone (SHOE): Tough FY16 could be just the beginning (HOLD) | H&T (HAT): Alternative lender emerging (BUY) | Omega Diagnostics* (ODX): ISO accreditation received for Pune, India (CORP) | Redcentric* (RCN): Interims – restoring forecasts (CORP)
N+1 Singer - IQE - Upgrade cycle set to continue
24 Mar 17
IQE’s FY’16 results showed good growth in all key segments and came in c.4% ahead of our recently upgraded forecasts. We have upgraded our forecasts today by 5% and 3% in FY’17 and FY’18 respectively, but expect the upgrade cycle to continue. The increase in capex in FY’16 looks to us a strong indication of future volume increases, and we see scope for significant upgrades through the course of our forecast horizon. We highlight three opportunities in this note, each of which could materially move the needle in its own right. IQE is one of our key picks for 2017 and has performed strongly YTD (+48%), but we believe there is more to go for. We increase our target price to 76p and retain our Buy recommendation.
Or, helping a juggernaut turn on a dime
24 Mar 17
Sopheon has spent many years evolving a state-of-the-art platform allowing Enterprise customers to manage and monitor their pipelines of innovation. As this market matures and on the back of some major reference client wins, Sopheon’s Accolade product is beginning to see material success on a number of fronts. This note describes the marketplace, the technology, and the progress now being achieved.
Stronger and stronger
23 Mar 17
Sopheon has reported strong prelims in line with the January trading update which had demonstrated that revenue delivery had been achieved on cost underspend, leading to EBITDA (+7% vs FY16E) and adjusted PBT (+22%) outperformance. Strong licence sales, high levels of recurring revenue retention (94% by value), and ever upgrading product portfolio in terms of functionality delivered revenue strength. Gartner recognition illustrates the transition from a product which needed to be described then sold, to a solution set sought by customers to deal with the increasingly acknowledged enterprise problem of efficient product lifecycle management. Sopheon is well positioned for future growth, and board confidence for future growth leads to planned increase in investment, yet still delivering $5.6m ($5.3m pre FX) EBITDA. Having smashed through our FY16 forecasts and target price, we restore FY17 forecasts and lift the 12-month target from 360p to 620p.
Acquisition of Infracast Limited
27 Mar 17
IMImobile have announced the acquisition of Infracast Limited for an initial consideration of £8.2m. Infracast is a leading provider of multi-channel messaging applications and will expand IMImobile’s customer base whilst providing significant cross-selling opportunities. This looks another high quality acquisition. We remain Buyers and increase our T/P to 220p.