Midwich Group (MIDW)

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FTSE AIM 50

410.00p
   
  • Change Today:
      15.00p
  • 52 Week High: 521.00p
  • 52 Week Low: 340.00p
  • Currency: UK Pounds
  • Shares Issued: 103.25m
  • Volume: 9,406
  • Market Cap: £423.33m

Berenberg cuts target price on Midwich

By Iain Gilbert

Date: Tuesday 08 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg cut their target price on audiovisual distributor Midwich from 620.0p to 460.0p on Tuesday, citing "significant disruption" caused by the Covid-19 pandemic.
Berenberg said Midwich's 2020 first-half results reflected the significant disruption caused by Covid-19, with a "considerable reduction" in organic growth and substantial margin headwinds resulting in roughly 82% and 55% cuts to its 2020 and 2021 earnings per share estimates for the group.

However, importantly, the German bank highlighted pressures the company had faced as a result of the coronavirus outbreak may have actually caused no structural damage.

Given the impact on profitability over the course of the full-year, Berenberg expects Midwich's leverage to reach 2.2 times net debt/underlying earnings, which it said was "well within management's targeted range" and should help the company rapidly de-lever as profitability rebounds.

"While there is considerable uncertainty about the market's eventual recovery, Midwich still has the potential to continue its geographic expansion within the $100.0bn AV market," said Berenberg, which also retained its 'buy' rating on the firm.

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Midwich Group Market Data

Currency UK Pounds
Share Price 410.00p
Change Today 15.00p
% Change 3.80 %
52 Week High 521.00p
52 Week Low 340.00p
Volume 9,406
Shares Issued 103.25m
Market Cap £423.33m

Midwich Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
57.7% below the market average57.7% below the market average57.7% below the market average57.7% below the market average57.7% below the market average
10.11% below the sector average10.11% below the sector average10.11% below the sector average10.11% below the sector average10.11% below the sector average
Price Trend
32.46% below the market average32.46% below the market average32.46% below the market average32.46% below the market average32.46% below the market average
37.86% below the sector average37.86% below the sector average37.86% below the sector average37.86% below the sector average37.86% below the sector average
Income
49.49% above the market average49.49% above the market average49.49% above the market average49.49% above the market average49.49% above the market average
59.38% above the sector average59.38% above the sector average59.38% above the sector average59.38% above the sector average59.38% above the sector average
Growth
64.84% above the market average64.84% above the market average64.84% above the market average64.84% above the market average64.84% above the market average
66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average66.67% above the sector average

What The Brokers Say

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

Midwich Group Dividends

  Latest Previous
  Interim Final
Ex-Div 21-Sep-23 04-May-23
Paid 27-Oct-23 16-Jun-23
Amount 5.50p 10.50p

Trades for 19-Mar-2024

Time Volume / Share Price
08:43 729 @ 405.00p
08:37 412 @ 405.28p
08:21 750 @ 401.36p
08:00 719 @ 416.70p
08:00 750 @ 410.00p

Midwich Group Key Personnel

Finance Director Stephen Lamb

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