Reach (RCH)

Sector:

Media

Index:

FTSE Small Cap

78.40p
   
  • Change Today:
      0.65p
  • 52 Week High: 87.35p
  • 52 Week Low: 59.10p
  • Currency: UK Pounds
  • Shares Issued: 317.97m
  • Volume: 307,311
  • Market Cap: £249.29m

Barclays reiterates 'equal weight' on Reach following impressive end of year

By Iain Gilbert

Date: Monday 17 Dec 2018

LONDON (ShareCast) - (Sharecast News) - Analysts at Barclays reiterated their 'equal weight' rating on British newspaper, magazine and digital publisher Reach on Monday, highlighting the firm's "impressive end to the year".
Reach said in its pre-close trading update that it anticipates an organic revenue decline of roughly 5%, ahead of the bank's expectations, as a result of an improved showing from its print advertising wing, which had more than offset a weaker digital growth trend.

Barclays also noted that Reach had "squeezed out £1m more savings" from the Express and Star deal, contributing to its decision to raise its adjusted operating profit and EPS estimates for fiscal year 2018 by 3%.

The revenue also "tweaked" its expectations for the media giant's FY18 revenues higher.

Lastly, and as regards the company's cash flow, property sales and lower payments related to Trinity Mirror's phone-hacking hacking scandal led the bank to believe Reach's net debt position was set to improve moving forward.

"All in, this is an impressive end to the year for an unloved stock. Management is again delivering on cost, but revenues are also slightly better. We do see significant short-term uncertainty from Brexit and so we remain equal weight."

Barclays also stood by its 65p target price on Reach, saying it had trimmed its valuation multiples due to the derating seen in peers.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Reach Market Data

Currency UK Pounds
Share Price 78.40p
Change Today 0.65p
% Change 0.84 %
52 Week High 87.35p
52 Week Low 59.10p
Volume 307,311
Shares Issued 317.97m
Market Cap £249.29m

Reach Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
99.47% above the market average99.47% above the market average99.47% above the market average99.47% above the market average99.47% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Price Trend
23.54% below the market average23.54% below the market average23.54% below the market average23.54% below the market average23.54% below the market average
2.13% above the sector average2.13% above the sector average2.13% above the sector average2.13% above the sector average2.13% above the sector average
Income
98.99% above the market average98.99% above the market average98.99% above the market average98.99% above the market average98.99% above the market average
100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average100.00% above the sector average
Growth
87.8% below the market average87.8% below the market average87.8% below the market average87.8% below the market average87.8% below the market average
77.27% below the sector average77.27% below the sector average77.27% below the sector average77.27% below the sector average77.27% below the sector average

What The Brokers Say

Strong Buy 1
Buy 1
Neutral 2
Sell 0
Strong Sell 0
Total 4
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Reach Dividends

  Latest Previous
  Final Interim
Ex-Div 09-May-24 10-Aug-23
Paid 31-May-24 22-Sep-23
Amount 4.46p 2.88p

Trades for 28-Mar-2024

Time Volume / Share Price
16:35 93,316 @ 78.40p
16:35 712 @ 78.40p
16:35 414 @ 78.40p
16:35 2,586 @ 78.40p
16:35 830 @ 78.40p

Reach Key Personnel

Chair Nick Prettejohn
CEO Jim Mullen
CFO Darren Fisher

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