Renishaw slides as Q2 results prompt Jefferies staying 'underperform'

Renishaw

13/02/2025 09:18

** Renishaw  RSW.L  slides 7.3% to 3,320p; among top losers
on FTSE mid-cap index  .FTMC 
    ** British engineering firm posts 3.7% q/q drop in Q2
revenue dropping and 31% decline in adjusted pre-tax profit
    ** Jefferies says RSW's FY25 adjusted PBT outlook is 15%
below consensus estimate at the midpoint despite increased
orders from semiconductor and consumer electronics markets
    ** Brokerage reiterates "underperform" with a PT of 2,890p,
representing 19% downside to stock's last close
    ** Stock down ~43.3% in the last 12 months
    
    

 (Reporting by Judes Joseph in Bengaluru)
 ((judes.joseph@thomsonreuters.com;))