Marks Electrical Group (MRK)

Sector:

Retailers

Index:

FTSE AIM All-Share

58.50p
   
  • Change Today:
    -0.50p
  • 52 Week High: 73.00
  • 52 Week Low: 50.00
  • Currency: UK Pounds
  • Shares Issued: 104.95m
  • Volume: 29,545
  • Market Cap: £61.40m
  • RiskGrade: 60
  • Beta: 0.00

Canaccord Genuity lowers target price on Marks Electrical

By Iain Gilbert

Date: Wednesday 10 Jan 2024

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity lowered their target price on online retailer Marks Electrical from 123.0p to 100.0p on Wednesday, citing short-term product margin pressure.
Canaccord Genuity noted that Marks Electrical's recent trading update had outlined strong top-line growth of roughly 17.8% for Q3 and 22% year-to-date, slightly stronger than its expectations. However, it also pointed out that despite the "strong top-line growth", gross product margins had disappointed, negatively impacted by a continued drop in consumer trading, against a strong comparative in the first half.

As a result, management now expects full-year revenues of between £115.0m-118.0m and underlying earnings between £5.0m-6.0m.

"Following today's update, we maintain revenue estimates but downgrade our FY24E and FY25E EBITDA estimates by 38% and 28%, respectively. While today's update is disappointing, we believe it reflects short-term macroeconomic headwinds that are outside of management's control, while the business continues to take market share and maintain excellent customer service and cost discipline," said Canaccord.

The Canadian bank, which reiterated its 'buy' rating on the stock, also believes the long-term story for Marks "remains intact", yet, short-term, the shares were likely to "see pressure" given the "sizeable downgrades".















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.

 

MRK Market Data

Currency UK Pounds
Share Price 58.50p
Change Today -0.50p
% Change -0.85 %
52 Week High 73.00
52 Week Low 50.00
Volume 29,545
Shares Issued 104.95m
Market Cap £61.40m
Beta 0.00
RiskGrade 60

MRK Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
36.31% below the market average36.31% below the market average36.31% below the market average36.31% below the market average36.31% below the market average
66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average66.67% below the sector average
Price Trend
13.65% below the market average13.65% below the market average13.65% below the market average13.65% below the market average13.65% below the market average
5.56% above the sector average5.56% above the sector average5.56% above the sector average5.56% above the sector average5.56% above the sector average
Income
8.11% below the market average8.11% below the market average8.11% below the market average8.11% below the market average8.11% below the market average
20% below the sector average20% below the sector average20% below the sector average20% below the sector average20% below the sector average
Growth
74.86% below the market average74.86% below the market average74.86% below the market average74.86% below the market average74.86% below the market average
38.89% below the sector average38.89% below the sector average38.89% below the sector average38.89% below the sector average38.89% below the sector average

MRK Dividends

  Latest Previous
  Interim Final
Ex-Div 28-Nov-24 11-Jul-24
Paid 20-Dec-24 15-Aug-24
Amount 0.30p 0.66p

Trades for 04-Apr-2025

Time Volume / Share Price
13:55 8,403 @ 59.50p
11:27 5,000 @ 58.20p
11:26 100 @ 60.00p
11:26 16 @ 60.00p
09:42 1,675 @ 59.38p

MRK Key Personnel

CEO Mark Adrian Smithson
CFO Joshua E T A Egan

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