Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on HANSARD GLOBAL PLC. We currently have 32 research reports from 2 professional analysts.
|17Mar17 17:00||RNS||Director/PDMR Shareholding|
|23Feb17 15:31||RNS||Director/PDMR Shareholding|
|23Feb17 07:00||RNS||Half-year Report|
|21Feb17 18:08||RNS||Holding(s) in Company|
|17Feb17 16:40||RNS||Second Price Monitoring Extn|
|17Feb17 16:35||RNS||Price Monitoring Extension|
|13Feb17 16:40||RNS||Second Price Monitoring Extn|
Frequency of research reports
Research reports on
HANSARD GLOBAL PLC
HANSARD GLOBAL PLC
H1 2017 Results
23 Feb 17
Hansard has reported H1 results that were essentially in line with our expectations and it has also removed the uncertainty over the dividend that we believe have held the shares back in recent times. The 2017 dividend will be in line with the 2016 dividend at 8.90p/share with it being rebased to 4.45p/share in 2018. Hansard remains strongly capitalised but the decision to cut the dividend reflects sales recovering at pace (2016: +97%, H1 2017: +33%) and the dividend not being covered. The EEV NAV at 31 December increased to 143p/share (H1 2016: 138p) which means that the shares are trading at a massive and in our view illogical 22% discount to EEV NAV. The shares might be under pressure short term but we would see this as a buying opportunity given the outlook and dividend clarity that should remove the question marks over the dividend outlook that we believe have held the shares back.
Sales recovery continues
26 Jan 17
Following good Q1 sales figures, Hansard has reported another good sales performance in Q2 that was ahead of our forecast. Sales in Q2 at £41.0m (+11%) PVNBP were 6% ahead of our forecast whilst H1 sales at £74.9m (+33%) were also well ahead. The new strategy continues deliver even though the comps have become considerably harder. In our view the shares remain very attractively priced trading at a 24% discount to our 2017F EEV NAV of 140p/share despite the 8.5% dividend yield. We therefore maintain our Buy recommendation and 143p target price.
New Strategic Alliance and Q2 Sales forecasts
19 Jan 17
Hansard has entered into a strategic alliance with Union Insurance, a major local insurer in the UAE. Hansard will reinsure and administer Union’s new savings and investment proposition ‘Infinity’ which will be launched next month. On Thursday 26th January Hansard will publish its sales for the 3 months to 31 December 2016. We are forecasting H1 2017 PVNBP sales at £72.4m (+28%) including Q2 at £38.5m (+5%). In our view the current share price epresents an excellent buying opportunity given that the shares are trading at a large 28% discount to EEV NAV despite a very attractive 8.8% 2017F dividend yield.
Panmure Morning Note 10-11-2016
10 Nov 16
Hansard has reported yet another strong sales performance for the 3 months to 30 September with PVNBP sales at £33.9m (+73%) slightly above our £32.6m forecast. The Middle East & Africa and Rest of the World regions performed particularly well with growth of 150% and 95% respectively. Whilst the comps will get tougher further out, it is worth highlighting that whilst traditionally Q1 sales tend to be lower than Q4, this year they are slightly above. A strong capital position together combined with a sales strategy that is delivering reinforces our view that the current valuation is wrong. The shares are trading at a 29% discount to 30 June 2016 EEV NAV of 143p/share is way too great hence our Buy recommendation and 40% upside to our target price.
Conviction List Q4 2016
05 Oct 16
Since its inception in 2010, the Conviction List has outperformed the market in 13 of 18 periods and a reinvested Conviction List would have returned 255% against a Small Companies index that would have returned 130%. Our Conviction List returned 3.7% over the last quarter; this was set against the benchmark UK Small Companies index that returned 11.3% over the same period. Our Q4 portfolio reflects our outlook for a temporary sweet spot for UK growth during the second half of 2016. The downside risk from the uncertainty of the EU Referendum result has been countered by stimulus from the Bank of England, signs of a looser fiscal stance and an 18% YoY reduction in the Sterling Exchange Rate. Compressed corporate fixed income spreads continue to provide a valuation underpin for global equities.
Another positive verdict
20 Mar 17
Burford’s results for 2016 produced another outstanding set of figures. Revenue grew by 60% to $163.4m with strong growth in the litigation finance business and an additional boost from a secondary sale in the Petersen case. On an underlying basis net income grew to $114m, a 75% increase despite the investment in growing capacity which increased costs. A combination of ongoing investment and gains and increases on valuation saw the fair value of the litigation assets increase 67% to $559m, underpinned by a growth in invested capital to $394m. With the results statement there was an announcement of a further sale of 9% of the Petersen case at a valuation of 20 times the cost of investment.
N+1 Singer - Morning Song 22-03-2017
22 Mar 17
Carador Income Fund (CIFU LN) Premium rating restored, high levels of refinancing activity | Cello Group (CLL LN) Outlook getting brighter – watch Pulsar | Eckoh (ECK LN) Largest ever US secure payments win | eg solutions (EGS LN) Full year results in line | Futura Medical (FUM LN) Licensing deal for CSD500 in Portugal | Verona Pharma (VRP LN) Global agreement with QuintilesIMS to support development of RPL554 | Xaar (XAR LN) 2016 results slightly ahead, reduced visibility in 2017
Small Cap Breakfast
23 Mar 17
K3 Capital Group—Schedule 1 from the Group of business and company sales specialists across business transfer, business brokerage and corporate finance. Admission date and fundraise details TBC. Integumen— Schedule 1 from the personal health company developing and commercialising technology and products for the human integumentary system. Raising £2.16m at 5p. Expected market cap £8.16m. Admission expected 5 April. Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march.
Small Cap Breakfast
21 Mar 17
First Sentinel—Investment company expecting NEX admission/introduction on 24 March. £636k raised pre-IPO. BioPharma Credit—Expected Gross Initial Acquisition Proceeds now c.$338m. Gross Cash Proceeds capped at $423m with placing and open offer. Results expected 23 March with admission now due 30 march. Tufton Oceanic Assets- The Company intends to invest in a diversified portfolio of second hand commercial sea-going vessels where the Investment Manager believes that an attractive opportunity exists in shipping. $150m raise. Admission 3 April.
N+1 Singer - Morning Song 23-03-2017
23 Mar 17
eg solutions (EGS LN) Re-focusing on sales is delivering rewards | Futura Medical (FUM LN) FY results: continued clinical, regulatory and commercial progress | Halfords Group (HFD LN) Confidence in FX mitigation grows; stay at BUY | IFG Group (IFP LN) Top line growth but earnings pressures remain | Realm Therapeutics (RLM LN) FY results in line; on track for Phase II start in 2017 | Safestyle UK (SFE LN) Another good full year performance but valuation up with events | WYG (WYG LN) Mixed conclusion to FY17, reassuring FY18 outlook