Morning all!
CMC Markets ( CMC Markets (LON:CMCX) ) – 155.2p – £448.5m – PER 12.6
Trading Update – Seems quite cautious to me.
There is uncertainty related to the recent (and potentially more) regulatory introductions here. Looks decent value with a decent yield but, with the potential for (downside) surprises, it’s just not for me at present.
Quarto Inc ( Quarto Inc (LON:QRT) ) – 165.55p – £33.8m – PER 5.13
Final Results For The 12 Months To End December 2017 – I really have no idea how to interpret these results other than they look awful.
Since the beginning of the year this stock has been down 50% and now is currently up 50% off that low. These results look awful and they're possibly as expected. But, with Net Debt still almost double the current Market Cap - There’s no way I am getting involved here at present.
Numis ( Numis (LON:NUM) ) – 359.5p – £386.0m – PER 13.0
Trading Update For The 6 Months To End March 2018 – Bullish but not as bullish as previous, H1 expected to be significantly ahead of H1 last year but below the impressive previous 6 months. Strong near term pipeline of opportunities.
Had my eye on this one for a while and it’s on my Watchlist at 310p, I think I’ll just leave it there for now.
Iomart ( iomart (LON:IOM) ) – 364.5p – £393.1m – PER 17.5
Trading Update For The 12 Months To End March 2018 – Expecting to deliver a strong set of results in-line with market consensus expectations (that’s less than 10% in Revenue and PBT growth). Expects growth to continue in the future.
The ROCE and Operating Margin might support a PER of 17+ but the actual growth, for me, does not. I remain on the side-lines here for now.
As always, all comment most welcome.
Have a great day and a great Easter (those who celebrate it)!
