Johnson Service Group (JSG) has value as a strategic acquirer which is not reflected in the share price. We estimate the discounted ‘acquired’ EPS on future acquisitions could increase the 2016 EPS by 1.96p, a 29% uplift, taking the 2016 PE rating from 14x to 10.8x. JSG has made four acquisitions in the past 24 months all of which, we calculate, have created shareholder value. With it making no secret that it will continue with the acquisition strategy in the hotel & restauran
13 Apr 2016
Acquiring value
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Acquiring value
Johnson Service Group PLC (JSG:LON) | 131 0 0.0% | Mkt Cap: 541.6m
- Published:
13 Apr 2016 -
Author:
Andy Smith -
Pages:
9
Johnson Service Group (JSG) has value as a strategic acquirer which is not reflected in the share price. We estimate the discounted ‘acquired’ EPS on future acquisitions could increase the 2016 EPS by 1.96p, a 29% uplift, taking the 2016 PE rating from 14x to 10.8x. JSG has made four acquisitions in the past 24 months all of which, we calculate, have created shareholder value. With it making no secret that it will continue with the acquisition strategy in the hotel & restauran