Renishaw (RSW)

Sector:

Electronic and Electrical Equipment

Index:

FTSE 250

4,020.00p
   
  • Change Today:
      35.00p
  • 52 Week High: 4,370.00p
  • 52 Week Low: 2,950.00p
  • Currency: UK Pounds
  • Shares Issued: 72.79m
  • Volume: 14,079
  • Market Cap: £2,926.10m
  • RiskGrade: 147

Berenberg starts Renishaw coverage with 'buy' rating

By Sean Farrell

Date: Thursday 24 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Berenberg initiated coverage of Renishaw with a 'buy' rating and predicted the engineering and healthcare company would recover strongly from the downturn.

The market is not giving Renishaw credit for its ability to bounce back from downturns, Berenberg analyst Anthony Plom said. He forecast earnings 8% ahead of consensus for 2021 and 22% ahead for 2022.

Covid-19 will not derail trends supporting better quality, safer and more environmentally friendly products, Plom said. These factors will continue to drive sales of Renishaw's metrology equipment, he argued.

"In prior cycles, consensus has consistently underestimated the speed of recovery at Renishaw and we believe this time is no different, Plom wrote in a note to clients. "Key end-markets are showing signs of a recovery, which we expect to drive a sequential improvement in Renishaw's sales."

Plom set a price target of £57 a share. The shares rose 4.8% to £51.30 at 13:26 BST.

China is still a big opportunity and if supply chains are brought closer to home that could spur more demand, Plom said. Competition in the metrology market has stiffened but Renishaw is the sector leader in research and development and sales should increase by a compound 5-10% through the cycle, Plom said.

Seen as a long-term investment Renishaw has groundbreaking neurological products, including a Parkinson's disease treatment, and 3D metal printing technology that could add more than £500m to earnings in 10 to 15 years and increase the company's value by billions of pounds, Plom said.



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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 4,370.00p
52 Week Low 2,950.00p
Volume 14,079
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
15:07 4 @ 4,020.00p
15:07 20 @ 4,025.00p
15:07 40 @ 4,025.00p
15:07 49 @ 4,025.00p
15:07 34 @ 4,025.00p

Renishaw Key Personnel

CEO William Lee

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