Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on MARTINCO PLC. We currently have 14 research reports from 2 professional analysts.
|16Mar17 14:15||RNS||Result of EGM and Change of Name|
|23Feb17 07:00||RNS||Change of Name and Notice of EGM|
|02Feb17 07:00||RNS||Trading Update|
|19Oct16 18:01||RNS||Holding(s) in Company|
|18Oct16 11:45||RNS||Director/PDMR Shareholding|
|23Sep16 14:51||RNS||Holding(s) in Company|
|22Sep16 12:16||RNS||Holding(s) in Company|
Frequency of research reports
Research reports on
N+1 Singer - Small-cap quantitative research - Consistent growth screen refresh + “11 with legs”
29 Sep 16
We have performed a second refresh of our consistent growth screen, first established with our research note of 17 December last year. As previously, the screen produces a basket of 25 stocks that exhibit not only good growth in EPS and sales, but also a consistency of growth in both measures each year. This basket, or style, has underperformed the small-cap benchmark by 9.1% since inception last December, and by 4.8% since the last refresh on 13 April. We highlight stocks leaving and joining the basket and take a closer look at 11 stocks “11 with legs” in the refreshed screen. We will continue to monitor performance of the basket and refresh it again in about 4 months’ time, but interestingly, consistent growth is beginning to look like consistent underperformance!
Capital markets event reaffirms our positive view
27 Oct 15
Last Thursday’s capital markets event highlighted the strength of MartinCo’s offering, its medium term growth strategy, and an ambition to manage c.500 offices. The Group currently manages c.300 offices. Managing 500 offices would place MartinCo in the top three lettings businesses in the country. The company will look to expand its services across its brands, grow office numbers and fees organically, and most significantly, seek acquisitions ranging from assisting franchisees to acquire local portfolios, up to and including acquisitions of other PLC property franchisors. Backed by its strong, four brand network, low cost base, and an experienced and ambitious management team, we believe MartinCo is well positioned to lead consolidation in an industry where there are clear economies of scale. The capital markets event reaffirmed our positive view and we continue to see scope for sector outperformance.
27 Oct 15
Amino Technologies (AMO LN) Sales shortfall in core Amino business | Clinigen Group (CLIN LN) AGM statement | Dialight (DIA LN) Strategic review results and weak trading update | MartinCo (MCO LN) Capital markets event reaffirms our positive view | Minds + Machines Group (MMX LN) Q3 update shows further progress
Panmure Morning Note 22-10-15
22 Oct 15
Ahead of the capital markets day today, MCO has confirmed the continued strong operating performance for the group with revenue for the nine months to September rising 47%. We believe that these figures are on track to meet our full year forecasts and so retain our BUY and 192p target price (FY16 PE of 15x).
Panmure Morning Note 06-10-15
06 Oct 15
The opportunity in UK estate and lettings agency business is consolidation. MartinCo has demonstrated that it has the platform and management capability to expand profitably and currently has £7m of cash resources to acquire more businesses. The underlying operation is performing well and should continue to deliver ROEs of over 25%. Further expansion should enhance returns and allow for a progressive dividend policy. In our note published this morning, we have upgraded our current year EPS forecast by 8.1% and continue to maintain a Buy recommendation with a target price of 192p.
Panmure Research - MartinCo 06-10-15
06 Oct 15
The opportunity in UK estate and lettings agency business is consolidation. MartinCo has demonstrated that it has the platform and management capability to expand profitably and currently has £7m of cash resources to acquire more businesses. The underlying operation is performing well and should continue to deliver ROEs of over 25%. Further expansion should enhance returns and allow for a progressive dividend policy. We have upgraded our current year EPS forecast by 8.1% and continue to maintain a Buy recommendation with a target price of 192p.
N+1 Singer - Uncovered Gems - Speed Dating Lunch - A Famous Five for the future?
12 Apr 17
On Friday we hosted our third “speed dating” lunch with the management of five very interesting and contrasting companies not under our formal coverage: Be Heard, Byotrol, Gfinity, Oxehealth and Plant Impact. Each company gave a concise and punchy overview of its business and investment case to a group of fund managers, before rapid fire Q&A. Below we summarise our thoughts on each company with more details inside the note, plus some relevant slides. We believe that all five companies are well-managed and well worth a closer look - we intend to repeat this efficient and popular format for engaging with management teams.
Non Life Insurance - Growing impact of hacks on share prices
18 Apr 17
Our November 2016 Cyber report flagged the growing impact of cyber attacks on quoted companies, noting that Yahoo’s breach would inevitably negatively impact Verizon’s offer price, which it did. A report by CGI and Oxford Economics has found that, to date,severe hacks on UK companies permanently reduced their share price by 1.8% - or approximately a £120m hit to MCap for a FTSE 100 firm. With GDPR coming into effect next year, we expect more headlines. That has got to be good for cyber insurers and cyber security firms.
N+1 Singer - Small-cap quantitative research - Growth style screen revamp and 10 focus stocks
06 Apr 17
We have reviewed the performance of our consistent growth screen since the previous refresh on 27 September 2016 and revamped the selection parameters to focus more on forecast sales and EPS growth going forward. In the period under review the consistent growth style screen outperformed the small-cap benchmark by c. 6% and underperformed the microcap index by a similar amount. Interestingly, although growth doesn’t always seem to be defensive as might be expected, however it appears right to buy growth on dips caused by or coincident with wider market volatility. In the new forecast growth screen we take a close look at 10 focus stocks. We will monitor performance and refresh it in three to four months time.
UK Housebuilding Sector: Q1 2017
10 Apr 17
Baron King of Lothbury, also known as Mervyn King former Governor of the Bank of England, is married to Barbara, a Finnish lady. She was his girlfriend in 1970 but distance and steam-driven telecoms conspired to keep them apart. Barbara went on to marry someone else and divorce - before being reunited with King in the late 1990s. They married in 2007 and King, who had never had children, was presented with two step-children and four grandchildren; and, in a Sunday Times interview, he quoted the Finnish apothegm “Grandchildren are the dessert of life”.
03 Apr 17
After much heralding, MIFID II is finally beginning to have an impact on the business of investment research, though its true ramifications might take years to be seen. The role of analyst research is widely misunderstood. It is not all about the conclusion: the rating and price target. The real content of research is about what is discounted in the current share price and what assumptions would produce different outcomes.