11 Sep 2015 09:48
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Don't have an account? Click here to register.Canaccord Genuity cuts Regus target price on uncertainty in UK
Mon, 15th Aug 2016 10:50
(ShareCast News) - Analysts at Canaccord Genuity cut their target price on Regus's shares to reflect part of the risk arising from their worst case scenario for the UK market.The flexible workspace provider's business model was highly sensitive to the macroeconomic health of its markets, analysts Matthew Walker and Aynsley Lammin said in a research note sent to clients on 15 August.In light of the above, they welcomed the prudent approach of Regus's management when it came to their guidance for capital expenditures and its strong focus on cash and returns.Nevertheless, "the UK represents the greatest unknown in the short term, and occupancy has fallen over the past 12 months," they said.Their worst case scenario for the company's profitability (in trms of earnings before interest and taxes) in British markets equated to £60m, roughly aa quarter of the group total.In their opinion, such a sharp downturn was unlikely to materialise but believed it best to capture some of that risk in their valuation.Furthermore, they continued to see value in the shares as earnings were expected to progress on the back of the sites it had rolled out over the past three years. The company's bottom line was also expected to benefit from FX tailwinds.Walker and Lammin cut their target on the stock from 390p to 355p while reiterating their 'buy' recommendation.
More News
11 Sep 2015 08:44
Regus shares rise on bid speculation
(ShareCast News) - Shares in office retail giant Regus were up 10% after a report the company could be the subject of a multi-billion pound bid from a major private equity firm. The Daily Mail reported, without citing sources, that Regus founder and chief executive Mark Dixon recently rejected a £3b
Read more11 Sep 2015 07:40
BUZZ-Regus: office rental co hits 14-yr highs on bid spec
** Regus up at levels last seen March 2001 in decent volume on press reports it is in the M&A crosshairs ** Daily Mail market report says founder & chief exec Mark Dixon recently rejected £3 bln bid approach from a major private equity player, rumoured to be Blackstone; apparently left doo
Read more27 Aug 2015 08:40
25 Aug 2015 16:25
Broker tips: Regus, Home Retail, Close Brothers
(ShareCast News) - Analysts at Investec upped their rating for Regus from 'hold' to 'buy' after the office space provider more than doubled its interim pre-tax profit. Shares in Regus were up by 8.43% to 271.20p at 1507 BST after the office provider said return on investment had improved to 23.1% fr
Read more25 Aug 2015 15:17
FTSE 250 movers: Vedanta surges but Lonmin slumps as platinum prices drop
(ShareCast News) - London's FTSE 250 was firmly on the front foot on Tuesday, trading up 2.7% at 16,643.57 by 1600 BST, bouncing back from sharp falls in the previous session sparked by worries about a slowdown in China. Vedanta Resources was the standout gainer, rallying sharply as investors steppe
Read more25 Aug 2015 14:59
Investec upgrades Regus after pre-tax profit more than doubles
(ShareCast News) - Analysts at Investec upped their rating for Regus from 'hold' to 'buy' after the office space provider more than doubled its interim pre-tax profit. Shares in Regus were up by 8.43% to 271.20p at 1507 BST after the office provider said return on investment had improved to 23.1% fr
Read more25 Aug 2015 08:05
Regus surges after doubling interim profit
(ShareCast News) - Share in Regus jumped over 5% earlier on Tuesday, after the office space provider more than doubled its interim pre-tax profit. In the six months to the end of June, the group saw its pre-tax profit jump for £31m to £79.1m, on the back of improvement in its return on investment, w
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