reports
Ford Equity International Rating and Forecast Report
Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind...
Insider sold: A director sold 243,083 shares at 2.010PLN and
A director at Rank Progress Sa sold 243,083 shares at 2.010PLN and the significance rating of the trade was 58/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years cl...
Update: Grosvenor leads the way
Rank’s 10-month IMS showed a solid performance in its venues and strong growth in Grosvenor digital, an important growth driver for the group. News of softer trading in Mecca digital since the recent platform migration is slightly disappointing, but it is early days and Rank has good organic growth prospects as it moves towards a true multi-channel offering, potentially augmented by acquisitions if the right opportunities arise. Our profit estimates are unchanged and the balance sheet is very ...
Update: Key milestone reached
The successful launch of its new digital platform, on time and budget, marks a key milestone for Rank and a major step towards its goal of a full omni-channel gaming product offering. Digital channels are the key growth driver for Rank and the new platform already offers new products and functionality, enabling Rank to further leverage its strong land-based gaming brands. After recent profit taking the FY16e EV/EBITDA is only 7.8x, yet the group is delivering good growth and strong cash flows.
Update: Solid results ahead of platform migration
Interim results were broadly as expected, with 11% underlying operating profit growth offset by higher UK remote gaming duty. Positive highlights included 2% l-f-l growth in Mecca retail, a good result in provincial casinos, strong cash flows and a 13% dividend increase. Small tweaks to our full year numbers produce a minor upgrade to EPS, but the main focus for H216 is on a successful platform migration to drive the group’s digital and omni-channel growth. The FY16e EV/EBITDA of 8.8x remains ...
Update: A good start to the year
Rank has reported a good start to the year, with revenue up 7% and Grosvenor Casinos performing particularly well. Our recent initiation report highlighted Rank’s opportunity to leverage its brands with an improved multi-channel offering. Digital revenues continue to grow at c 20% with migration to the new IT platform on schedule for early 2016. Our estimates are unchanged, with the potential for organic growth to be augmented by acquisitions at some stage given the group’s balance sheet str...
Initiation: A re-energised business
Rank has been re-energised over the past year. FY15 results showed encouraging progress, but we believe this is only the start, with digital gaming beginning to grow strongly and plenty of scope to leverage the Mecca and Grosvenor brands with a true multi-channel offering. Rank’s underlying business is strongly cash generative, with debt on track to be eliminated by the end of FY18 in the absence of any acquisitions. The shares have performed well, but still trade at a discount to the sector (...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.