Frontier Developments (FDEV)

Sector:

Leisure Products

Index:

FTSE AIM All-Share

269.50p
   
  • Change Today:
      1.50p
  • 52 Week High: 631.00
  • 52 Week Low: 107.00
  • Currency: UK Pounds
  • Shares Issued: 39.48m
  • Volume: 34,007
  • Market Cap: £106.39m
  • RiskGrade: 195

ShoreCap upgrades Frontier Developments to 'buy'

By Alexander Bueso

Date: Tuesday 02 Apr 2024

LONDON (ShareCast) - (Sharecast News) - Analysts at ShoreCap upgraded their recommendation for shares of Frontier Developments from 'hold' to 'buy', citing the shares' valuation and progress on its shift back to its core strength.
The upgrade followed a trading update from the video game developer and publisher that same morning.

In it, the company said that sales during the initial launch of its Planet Zoo game had beaten those for the Planet Coaster console launch.

Frontier Developments also announced the sale of the publishing rights to RollerCoaster Tycoon 3 to Atari for $7m.

That led ShoreCap to bump up its estimate for the outfit's full-year 2024 earnings before interest, taxes, depreciation and amortisation from -£19m to -£15m.

Frontier's board also reiterated guidance for full-year sales of £80-95m.

ShoreCap was still anticipating revenues of only £83m but said that it now saw scope for revenues in the middle of that range if sales momentum kept up.

"Given the low EV/Sales multiple, less than 1x, and considering the initial progress as the Group's focus returns to its core strength within creative management simulation games which could see incremental revenue contributions to our forecasts, we upgrade our recommendation from Hold to Buy."

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

Note 2: RiskGrade figures are provided by RiskMetrics.

 

FDEV Market Data

Currency UK Pounds
Share Price 269.50p
Change Today 1.50p
% Change 0.56 %
52 Week High 631.00
52 Week Low 107.00
Volume 34,007
Shares Issued 39.48m
Market Cap £106.39m
RiskGrade 195

FDEV Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
24.83% below the market average24.83% below the market average24.83% below the market average24.83% below the market average24.83% below the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Price Trend
40.59% below the market average40.59% below the market average40.59% below the market average40.59% below the market average40.59% below the market average
81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average81.82% below the sector average
Income Not Available
Growth
83.27% above the market average83.27% above the market average83.27% above the market average83.27% above the market average83.27% above the market average
81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average81.82% above the sector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 5
Sell 0
Strong Sell 1
Total 10
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

FDEV Dividends

No dividends found

Trades for 28-May-2024

Time Volume / Share Price
10:13 10 @ 268.50p
09:55 2,697 @ 268.96p
09:53 402 @ 271.26p
09:53 148 @ 271.50p
09:53 148 @ 271.00p

FDEV Key Personnel

CEO Jonathan (Jonny) Francis Watts
CFO Alex Bevis

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