Future (FUTR)

Sector:

Media

Index:

FTSE 250

857.00p
   
  • Change Today:
    -7.00p
  • 52 Week High: 1,145.00p
  • 52 Week Low: 577.00p
  • Currency: UK Pounds
  • Shares Issued: 110.81m
  • Volume: 151,938
  • Market Cap: £949.60m
  • RiskGrade: 189
  • Beta: 1.87

JPMorgan stays positive about Future despite CEO exit

By Benjamin Chiou

Date: Monday 21 Oct 2024

LONDON (ShareCast) - (Sharecast News) - Future's share price took a dive last week after the unexpected departure of chief executive Jon Steinberg, but the news didn't dissuade JPMorgan from changing its positive view on the publishing and events company.
The shares dropped around 18% on Friday to just 794.5p, before rebounding by more than 6% on Monday morning to 845.85p.

JPMorgan reiterated its 'overweight' rating for Future in a research note on Monday, keeping its 1,296p target price, representing 63% upside to the previous closing price.

Analyst Lara Simpson said Steinberg's exit "has no doubt cast uncertainty on the crystallization of an equity story that has increasingly aligned to its sum-of-the-parts and resurfaced concerns on the underlying state of the portfolio".

However, Simpson said investors should remember that Steinberg's notice period is 12 months, while the company's outlook is strong as it actively studies options to accelerate value creation from its businesses.

" While the CEO exit is a clear negative and perceived as a set back by many investors who argue it will take time to rebuild confidence in the narrative, we continue to see inherent upside to valuation at these levels (4.3x EV/EBITDA 25E) and stay constructive with potential for corporate action to stand as a catalyst," the analyst 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.

 

Future Market Data

Currency UK Pounds
Share Price 857.00p
Change Today -7.00p
% Change -0.81 %
52 Week High 1,145.00p
52 Week Low 577.00p
Volume 151,938
Shares Issued 110.81m
Market Cap £949.60m
Beta 1.87
RiskGrade 189

Future Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
82.13% above the market average82.13% above the market average82.13% above the market average82.13% above the market average82.13% above the market average
46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average46.67% above the sector average
Price Trend
44.58% below the market average44.58% below the market average44.58% below the market average44.58% below the market average44.58% below the market average
15.56% below the sector average15.56% below the sector average15.56% below the sector average15.56% below the sector average15.56% below the sector average
Income
95.67% below the market average95.67% below the market average95.67% below the market average95.67% below the market average95.67% below the market average
89.47% below the sector average89.47% below the sector average89.47% below the sector average89.47% below the sector average89.47% below the sector average
Growth
1.06% below the market average1.06% below the market average1.06% below the market average1.06% below the market average1.06% below the market average
26.83% above the sector average26.83% above the sector average26.83% above the sector average26.83% above the sector average26.83% above the sector average

What The Brokers Say

Strong Buy 4
Buy 5
Neutral 1
Sell 0
Strong Sell 1
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Future Dividends

  Latest Previous
  Final Final
Ex-Div 18-Jan-24 19-Jan-23
Paid 13-Feb-24 14-Feb-23
Amount 3.40p 3.40p

Trades for 21-Nov-2024

Time Volume / Share Price
16:11 0 @ 861.50p
16:11 0 @ 861.50p
16:11 0 @ 861.50p
16:11 0 @ 861.50p
16:11 0 @ 861.50p

Future Key Personnel

Chair Richard N L Huntingford
CEO Jon Steinberg
CFO Sharjeel Suleman

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