Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on WORKSPACE GROUP PLC. We currently have 17 research reports from 2 professional analysts.
|20Feb17 15:20||RNS||Voting Rights and Share Capital|
|02Feb17 07:00||RNS||Holding(s) in Company|
|31Jan17 07:30||RNS||Notification of major interest in shares|
|27Jan17 07:00||RNS||Director/PDMR Shareholding|
|25Jan17 10:37||RNS||Director/PDMR Shareholding|
|19Jan17 07:00||RNS||Interim Management Statement|
|18Jan17 15:44||RNS||Voting Rights and Share Capital|
Frequency of research reports
Research reports on
WORKSPACE GROUP PLC
WORKSPACE GROUP PLC
Panmure Morning Note 22-01-16
22 Jan 16
The pace of growth achieved by Workspace over the last two years has been extraordinary and today's operating metrics suggest that the group will meet our new FY16E forecasts. The total rent roll is growing at an annualised rate of 16.4%. Our upgrades to earnings reflect the continued strong results and represent a CAGR of 25.5% between FY15A-FY18E. The group has positioned itself defensively with a very strong balance sheet but has also embraced the future providing contemporary working environments for which demand should remain robust. The share price has been particularly badly hit in the current rout (-14.6% YTD) so that the shares are now trading 3.4% above the historic NAV of 792p. Our Target Price of 1074p reflects the one year forward forecast total return and we retain our BUY recommendation.
Panmure Morning Note 11-11-15
11 Nov 15
Workspace is benefiting from a confluence of strong drivers so that the group is producing excellent results. Today's figures do not disappoint. The strength of the SME sector in London, the underlying rental appreciation due to supply constraints and the underlying low base rents have led strong results and management confidence in the momentum is underpinned by the 25% increase in dividend. Competition is growing in the temporary leasing market but the models differ from Workspace in type of offer and target customer. Importantly most are not landlords and so have to compensate for the duration risk with higher rents. We continue to expect the group to generate strong growth over the next two years and so increase our TP to 1074p, a 20% premium of our T+1 NAV/s plus dividend. BUY.
Panmure Morning Note 23-10-15
23 Oct 15
The two acquisitions this morning add to the immediate letting pipeline for the group. Surrey Quays and Alexandra House (in Wood Green) will provide refurbishment opportunities into 2021 while providing solid income in the near term. We have upgraded our estimates since the strong FY15A and 1Q16 figures and retain our target price of 1010p and BUY recommendation.
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.
Small Cap Breakfast
16 Feb 17
Saffron Energy—Schedule One update. Raising £2.5m, expected Mkt Cap £7.7m. Admission due 24 Feb. Italian Oil & Gas Play Guinness Oil & Gas Exploration—Publication of prospectus. Seeking to raise £50m and invest in 15 exploration companies at launch, with plans to grow the portfolio to 30 positions during its lifetime. Issue closing 23 Feb. Arix Bioscience — Intention to float on the main market from the global healthcare and life science Company supporting medical innovation. Raised £52m in Feb 16 with investors including Woodford Investment Management
13 Feb 17
Surface Transforms* (SCE): H1 results confirm operational progress (CORP) | Premaitha Health* (NIPT): European diagnostics partnership (CORP) | Lok'nStore* (LOK): Filling existing stores, developing new ones (CORP) | Victoria* (VCP): Entry into the European flooring market (CORP) | eg solutions* (EGS): Exceptional H2 performance (CORP)
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