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Berenberg ups price target on Electrocomponents after 'solid' FY results

Fri, 31st May 2019 13:50

(Sharecast News) - Analysts at Berenberg upped their target price on British industrial and electronics products distributor Electrocomponents to 715p from their previous 650p stance after the group issued a "strong set" of full-year results last week.Berenberg praised Electrocomponents for its 2019 full-year results, coming as they did alongside "a bullish presentation" which outlined a path to its medium-term target of 5-8% through-cycle organic revenue growth and mid-teens operating margins.The German broker stated that with considerable scope for earnings expansion, a strong balance sheet and potential for a re-rating if the company "proves its resilience against a tougher macro backdrop", it continues to see "plenty of upside" for the shares.Although Berenberg also reiterated its 'buy' rating on the firm, it noted that Electrocomponents was exposed to industrial/electronic end-markets, which it said were "inherently cyclical".However, its analysts highlighted the fact that management was "confident" of generating growth irrespective of the macro backdrop, something they were beginning to see in the company's numbers.In terms of those numbers, Electrocomponents posted a jump in full-year profit and revenues last Tuesday as it made "strong" market share gains in EMEA and the Americas.For the year ended 31 March 2019, adjusted pre-tax profit rose 23.9% to £214.5m on revenue of £1.9bn, up 10.5% on the previous year.
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24 May 2018 09:30

TOP NEWS: Electrocomponents Hikes Payout After Significant Profit Jump

LONDON (Alliance News) - Engineering firm Electrocomponents PLC hiked its dividend Thursday after reporting its profit and revenue jumped significantly as it looks to make further in were 9.4% at

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24 May 2018 08:53

LONDON MARKET OPEN: Intertek Gains As Mediclinic Falls With Sharp Loss

LONDON (Alliance News) - Stocks in London on Tuesday remained broadly higher, with the FTSE 100 just about remaining in the green despite weak results reported by several blue-chip companies.The FTSE

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17 May 2018 16:00

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 18 May AstraZenecaQ1 ResultsHikma PharmaceuticalsTrading ClarkeTrading 21

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29 Mar 2018 16:24

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 30 March no events scheduled Monday 2 events 3 HoldingsTrading 4 Year

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22 Mar 2018 08:33

Ultra Electronics Hires Ex-BBA Aviation Boss As New Chief Executive

LONDON (Alliance News) - Ultra Electronics Holdings PLC announced Thursday the appointment of former BBA Aviation PLC Chief Executive Simon Pryce as its new CEO.Pryce a

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10 Feb 2017 07:53

Electrocomponents' revenue rises as it implements improvement plan

(ShareCast News) - Electrocomponents' revenue grew as it implemented initiatives to stabilise its gross margin and reduce costs. For the four months ended 31 January, the electronics distributor reported that sales increased 6% when compared to the previous year, with growth seen across all its main

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22 Nov 2016 09:56

Tuesday broker round-up

(ShareCast News) - BT Group: UBS reiterates neutral with a target price of 400p. Tesco: JP Morgan reiterates underweight with a 135p target. Relx: Credit Suisse stays at outperform with a 1600p target. Pets at Home: HSBC reiterates buy with a 320p target. Royal Dutch Shell B: UBS starts coverage

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18 Nov 2016 17:06

Britain's FTSE ends lower as gold miners lose lustre

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) * FTSE 100 index closes 0.3 pct lower * Miners track commodity prices lower * FTSE mid-caps outperform broader market By Ki

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18 Nov 2016 10:25

Britain's FTSE falls as gold miners lose their shine

(ADVISORY- Follow European and UK stock markets in real time on the Reuters Live Markets blog on Eikon, see cpurl://apps.cp./cms/?pageId=livemarkets) * FTSE 100 down 0.5 pct * Gold miners track commodity prices lower * Though mid caps outperform By Kit Rees LONDON, N

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18 Nov 2016 07:23

Electrocomponents H1 headline profits up 44%

(ShareCast News) - Engineering distribution firm Electrocomponents reported a healthy 44% jump in first half pre-tax headline profits to £55.1m. Reported profits were up 174% to £54.5m after the reduction in exceptional charges to £0.6m to £11.4 million. Revenues were up to £706m from £626m, boosted

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17 Nov 2016 15:31

Friday preview: Central bank speakers in focus

(ShareCast News) - Another frenetic week for investors who were trying to decipher what the results of the US election meant for them was set to come to a close with a whimper - barring unexpected surprises. No major data releases were scheduled to be published the next day in any of the main geogra

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16 Nov 2016 15:17

Broker tips: Mitie, Electrocomponents, Anglo American

(ShareCast News) - RBC Capital Markets downgraded outsourcing company Mitie 'underperform' from 'sector perform' and cut the price target to 160p from 195p ahead of first-half results. "We already know H1 will not be good. However, the key question is whether the trading and outlook has improved. "

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16 Nov 2016 15:17

FTSE 250 movers: Vedanta gains on outlook for zinc, Ocado loses out on Amazon deal

(ShareCast News) - The FTSE 250 index was down 0.48% at 17,488.87 at 1604 GMT on Wednesday. Goldman Sachs upgraded Vedanta Resources from 'Neutral' to 'Buy', raised its price target from 450p to 1,300p and added it to their Conviction List, sending its shares up. The bank believes the price of zinc

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16 Nov 2016 08:36

HSBC upgrades Electrocomponents to 'buy' as sentiment shifts

(ShareCast News) - HSBC upgraded Electrocomponents to 'buy' from 'hold' and lifted the price target to 430p from 240p as it pointed to the self-help story. The bank pointed out that investor sentiment towards the company has shifted. "A company that had been perceived as being doomed to dwindling r

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28 Oct 2016 07:16

BUZZ-Electrocomponents: Liberum initiates with "buy"

** Electrocomponents, a distributor of electronic products for engineers, up 1.7 pct after Liberum initiates with "buy", TP 420p ** Liberum analysts say potential from co's cost rationalisation programme is yet to be fully reflected in the share price ** See structural opportunities f

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