Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Scott the exchanged has always clearly stated you can not rely on BUY/SELL
Decent results for me EBITDA only down 7% divi @ 6.25% @187
Share price forecast
The 13 analysts offering 12 month price targets for Moneysupermarket.Com Group PLC have a median target of 275.00, with a high estimate of 355.00 and a low estimate of 205.00. The median estimate represents a 47.06% increase from the last price of 187.00.
https://seekingalpha.com/news/3798679-micro-focus-jumps-amid-takeover-speculation
Micro Focus improves cash generation, but debt issues predominate
Renegotiation of debt and strong cash generation has enabled management to improve the dividend
February 8, 2022
By Arthur Sants
Cash conversion ratio falls because of working capital
Revenue forecast to avert decline next year
Software and consultancy business Micro Focus (MCRO) is still fighting to get to grips with its disastrous purchase of Hewlett Packard's enterprise software business by stripping out costs. This leaves it in an interesting spot to handle interest rate rises even as it maintains healthy dividends and strong cash generation, and even with a massive debt pile – an unholy balancing act.
MCRO:LSE
Micro Focus International PLC
1mth
Today change
-12.49%Price (GBP)
400.00
Adjusted cash profits (Ebitda) were down 12 per cent to £1bn. However, the statutory operating loss narrowed appreciably due to a big reduction in depreciation, amortisation and exceptional item costs. Excluding these exceptional charges, adjusted free cash flow was $292mn (£216mn). This was less than half of last year due to one-off tax payments and working capital outflows, some of which were driven by timing differences in payment of receivables.
Cash conversion was down from 113 per cent to 87.1 per cent. However, management is expecting an adjusted free cash flow run rate of approximately $500m on an annual basis through 2023, with a flat revenue trajectory.
The biggest concern is the $4.2bn net debt burden (excluding lease liabilities). Micro Focus has managed to extend the average maturity of the debt pile to 3.6 years from 2.7 years, and has used this breathing space to increase the final dividend to 20.3¢ from 15.5¢ last year.
House broker Numis has forecast net debt to fall to $3.59bn by 2023 and the expects free-cash-flow yield to rise to an impressive 15.3 per cent by then. This is progress of sorts, but the company may find it harder to meet its debt commitments given the probable trajectory of interest rates. However, with the shares trading at a 36 per cent discount to net assets and improved cash generation, we move (gingerly) to hold.
* Posts FY adj EBITDA $1.04 bln vs $1.19 bln last year, hurt by a decline in annual revenue...
* Lower revenue is due to weakening of the U.S. dollar against most major currencies - co
* Stifel cuts PT to 1158p from 1272p; maintains "buy" rating
* 4 of 8 brokerages rate the stock "buy" or higher and rest at "hold"; their median PT is 500 pence
As of the end of Jan, stock on loan was 8.39%. Thats a heck of a lot to buy back
COBOL Market Shown to be Three Times Larger than Previously Estimated in New Independent Survey
Global Survey Shows Tremendous Market Opportunity for COBOL Application Modernization
PR Newswire
SANTA CLARA, Calif., Feb. 4, 2022
SANTA CLARA, Calif., Feb. 4, 2022 /PRNewswire/ -- Micro Focus
(https://c212.net/c/link/?t=0&l=en&o=3426911-1&h=269474780&u=https%3A%2F%2Fwww.microfocus.com%2Fen-us%2Fhome&a=Micro+Focus)
(LSE: MCRO; NYSE: MFGP) today shared the commissioned results of a global,
independent market survey, showcasing an unprecedented amount of COBOL code in
use, and a remarkable market opportunity for application modernization.
Following last year's research report
(https://c212.net/c/link/?t=0&l=en&o=3426911-1&h=641682613&u=https%3A%2F%2Fwww.microfocus.com%2Fmedia%2Fbrochure%2Fmodernization-reimagining-cobol-systems-for-the-digital-age-brochure.pdf&a=report)
, this year's results
(https://c212.net/c/link/?t=0&l=en&o=3426911-1&h=453170173&u=https%3A%2F%2Fwww.brighttalk.com%2Fwebcast%2F16907%2F522538%3Futm_source%3Dblog%26utm_medium%3Dreferral%26utm_campaign%3D7014J000000sSNYQA2&a=year%27s+results)
reveal that the global COBOL application footprint continues to grow, and the
majority of respondents intend to modernize their applications and support
cloud by the end of the year.
(https://mma.prnewswire.com/media/551222/Micro_Focus_Logo.html)
According to the global survey, COBOL is viewed as strategic by 92 percent of
respondents, and the amount of COBOL code in daily use increased significantly
to 775-850 billion lines. Micro Focus, with over 45 years of experience in
modernizing business-critical applications and their recent announcement as a
key partner in the AWS Mainframe Modernization service, commissioned this new
report on COBOL's usage as part of their regular market analysis program.
"As organizations look to deliver on IT strategies through modernization and
digital transformation initiatives, the findings of the latest COBOL Survey
demonstrate the continued importance of COBOL for application modernization
and business change," said Ed Airey, Director of COBOL Product Marketing,
Micro Focus. "800 billion lines of code reinforces the importance, and
continued investment, in this most trusted of core business system
technologies. This significant volume of COBOL application code in the
marketplace represents remarkable value for organizations and requires ongoing
investment as part of a larger modernization strategy. For IT leaders,
supporting core business systems, COBOL application modernization lies at the
heart of digital transformation."
Produced by Vanson Bourne
(https://c212.net/c/link/?t=0&l=en&o=3426911-1&h=1929042012&u=https%3A%2F%2Fwww.vansonbourne.com%2F&a=Vanson+Bourne)
, a global research and analysis company, the global survey asked
COBOL-connected architects, software engineers, developers, development
managers and IT executives from 49 countries to determine and
Historically its always the 480-525 zone to watch
12 month volume profile matches resistance as well @ circa 483
Ignore Nuri....total div
Clearly things moving in the right direction
>But as adults we should respect/welcome views others than ours
I do, in fact I like opposing views because it makes me think, research and look at other angles
However I hate liars, especially people who fabricate stories in a weird attempt to justify their own decisions , trying to con others into thinking the same.....
Personally I still this will turn up, significantly, over time. The FT /Times is annoyed at Moudling for criticizing the London market which they have a vested interest in so plenty of negative spin.
Far more positives in that update than negatives for me , yet the stock on loan is so high they will focus of the negative and have a field day on fear driven sell off's.
Wow Chris that really sad
You have set up yet another account as Henry and posted from it too agree with yourself (even though you are wrong0
Very sad, very strange to be honest
Come on Chris even you're not that stupid?
"This transaction demonstrates the strength of the Micro Focus proposition and the cash generative qualities of our recurring revenue model"
Panda wheres that date from thanks
11-01-2022 10:05
* Jefferies believes that software companies should benefit from the "ongoing digital transformation investment cycle that shows no signs of abating"
* 2022 will be the "Year of the S": subscription, security and services, Jefferies says, as the pandemic-induced work-from-home trend has only strengthened and elongated the current demand cycle
* Jefferies flags the ongoing software shift to subscription, multi-year structural growth market of security, and services as low-risk ways of playing the rising tide of technology spend
* The broker starts France's Capgemini and Britain's Computacenter with "buy", noting their exposure to the underlying growth in the market and low-risk due to their service client demand versatility
* The model shift towards cloud-based subscriptions is "ultimately beneficial", net present value-positive (NPV) for future cashflows, and creates closer customer relationships, it says
* Jefferies also upgrades Micro Focus to "buy" from "hold" on positive risk/reward after updated targets, and keeps Darktrace and SAP as key recommendations focus
PS you can see now the batches of 2000 volume littered on the buy side 463 462.7 etc..this maybe a much larger ordered being worked through the day/coming days...its constant BUY pressure which means the price keeps getting pushed up...which for us long term holders is very nice
Level 2 can be very misleading so be careful..its easy to look at the buy/sell total orders and assume it will move in the weighted direction, things change very fast
It useful to spot a market marker near the ticker price on either side of the book, to see if they are fulfilling a larger order. Its also useful if you can see L2 during the daily auctions (better still if you can participate) , to spot massive orders on either side of the book that will be abstracted within the UT
Looks like fund/funds buying in again to me
Anyone got access to the new (last hour) Premium FT report “Keep taking the vitamins “ apparently details the proposed business spin offs …think this has caused the drop today
What a donkey (lonlonuk)