Ra International Group (RAI)

Sector:

Manufacturing

Index:

FTSE AIM All-Share

7.94p
   
  • Change Today:
    -0.056p
  • 52 Week High: 16.25
  • 52 Week Low: 7.83
  • Currency: UK Pounds
  • Shares Issued: 173.58m
  • Volume: 18,640
  • Market Cap: £13.79m
  • RiskGrade: 137

Canaccord Genuity reiterates 'buy' rating on RA International

By Iain Gilbert

Date: Friday 30 Sep 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity reiterated their 'buy' rating on RA International shares on Friday, citing both growth and de-risking efforts.
Canaccord Genuity said RAI's first-half results were in-line with its estimates, with revenue of $29.0m, up 11% year-on-year, and a breakeven EBITDA performance, down from $5.0m a year earlier. Net debt at the half was $4.3m, excluding lease liabilities, reflecting some ongoing Mozambique outflows but otherwise in line.

The group's order book at the end of August of $95.0m was broadly flat since the beginning of the year and Canaccord highlighted that this does not reflect a £35.0m five-year UK Ministry of Defence award separately announced on Friday.

The Canadian bank also noted that government sector revenues represented 47% of last year's revenue for RAI, and said it expects this to continue to grow thanks to the "strong relationships" it has developed with the US and UK governments.

"RAI remains in a robust financial position with more than $9.0m in gross cash and the group is confident in its ability to mobilise for multiple large contracts as and when those restarts," said Canaccord.

"We base our valuation on peer-group multiples and use the range of earnings we calculate for the short and medium-term. Our price target is based on the geometric mean of the top (60.0p) and bottom (25.0p) of this range, which results in our price target of 41.0p. At our price target and using our mid-point earnings, the stock would trade at 15x/10x 23/24E EV/EBITDA, which we believe is realistic for a growing, high-visibility business"





Reporting by Iain Gilbert at Sharecast.com

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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.

 

RAI Market Data

Currency UK Pounds
Share Price 7.94p
Change Today -0.056p
% Change -0.69 %
52 Week High 16.25
52 Week Low 7.83
Volume 18,640
Shares Issued 173.58m
Market Cap £13.79m
RiskGrade 137

RAI Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
14.85% above the market average14.85% above the market average14.85% above the market average14.85% above the market average14.85% above the market average
28.57% above the sector average28.57% above the sector average28.57% above the sector average28.57% above the sector average28.57% above the sector average
Price Trend
73.37% below the market average73.37% below the market average73.37% below the market average73.37% below the market average73.37% below the market average
84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average84.62% below the sector average
Income Not Available
Growth
81.13% below the market average81.13% below the market average81.13% below the market average81.13% below the market average81.13% below the market average
85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average85.71% below the sector average

RAI Dividends

  Latest Previous
  Final Final
Ex-Div 27-May-21 28-May-20
Paid 08-Jul-21 09-Jul-20
Amount 1.35p 1.25p

Trades for 28-Mar-2024

Time Volume / Share Price
13:08 1,769 @ 8.25p
10:04 1 @ 8.40p
09:07 300 @ 8.30p
08:00 16,570 @ 7.83p

RAI Key Personnel

CEO Soraya Muriel Narfeldt
COO Lars Ola Narfeldt

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