Renishaw (RSW)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

4,020.00p
   
  • Change Today:
      35.00p
  • 52 Week High: 4,370.00
  • 52 Week Low: 2,950.00
  • Currency: UK Pounds
  • Shares Issued: 72.79m
  • Volume: 16,203
  • Market Cap: £2,926.10m
  • RiskGrade: 147

Morgan Stanley hikes target for Renishaw ahead of turning point in Asian demand

By Iain Gilbert

Date: Thursday 23 Jan 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Morgan Stanley upgraded their recommendation on shares of British engineer Renishaw to 'overweight' on Thursday as it forecast a "strong inflection" in machine tool data by mid-year.
Morgan Stanley said consensus estimates for Renishaw, with its growth, multiple and share price all "strongly correlated" to the Asian machine tool series, did not capture the potential strength of the inflection and also jacked up its target price on the firm's shares from 2,800.0p to 4,500.0p.

The analysts said that with Renishaw's shares having "materially underperformed peers" and "currently being out of favour", they saw the stock's current levels as "an attractive entry point".

They also noted that by its implied valuation, Renishaw will be back below long-term averages and that it will inevitably move from having one of the most expensive to the cheapest valuation amongst global automation plays.

The MS Quant team added that mapping prior downcycles in Asian machine tools and Renishaw suggested the firm was capable of delivering "a stronger growth inflection" than current consensus assumed.

"With a near-term inflection in Asia machine tool growth forecast, we believe Renishaw can deliver a stronger than consensus earnings print and drive valuation below long-term average levels by CY21."

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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.

 

Renishaw Market Data

Currency UK Pounds
Share Price 4,020.00p
Change Today 35.00p
% Change 0.88 %
52 Week High 4,370.00
52 Week Low 2,950.00
Volume 16,203
Shares Issued 72.79m
Market Cap £2,926.10m
RiskGrade 147

Renishaw Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.82% below the market average78.82% below the market average78.82% below the market average78.82% below the market average78.82% below the market average
77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average77.78% below the sector average
Price Trend
33.91% above the market average33.91% above the market average33.91% above the market average33.91% above the market average33.91% above the market average
43.59% above the sector average43.59% above the sector average43.59% above the sector average43.59% above the sector average43.59% above the sector average
Income
82.35% below the market average82.35% below the market average82.35% below the market average82.35% below the market average82.35% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Growth
2% below the market average2% below the market average2% below the market average2% below the market average2% below the market average
37.14% above the sector average37.14% above the sector average37.14% above the sector average37.14% above the sector average37.14% above the sector average

What The Brokers Say

Strong Buy 2
Buy 0
Neutral 3
Sell 1
Strong Sell 1
Total 7
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Renishaw Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Mar-24 02-Nov-23
Paid 09-Apr-24 07-Dec-23
Amount 16.80p 59.40p

Trades for 17-Jun-2024

Time Volume / Share Price
15:32 110 @ 4,020.00p
15:32 47 @ 4,020.00p
15:32 139 @ 4,020.00p
15:32 91 @ 4,020.00p
15:32 24 @ 4,020.00p

Renishaw Key Personnel

CEO William Lee

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