Clarkson (CKN)

Sector:

Commercial Transport

Index:

FTSE 250

4,450.00p
   
  • Change Today:
    -35.00p
  • 52 Week High: 4,565.00
  • 52 Week Low: 2,550.00
  • Currency: UK Pounds
  • Shares Issued: 30.76m
  • Volume: 17,907
  • Market Cap: £1,368.75m
  • RiskGrade: 171

Canaccord Genuity raises target price on Clarkson

By Iain Gilbert

Date: Tuesday 05 Mar 2024

LONDON (ShareCast) - (Sharecast News) - Analysts at Canaccord Genuity raised their target price on shipping services firm Clarkson from 4,325.0p to 4,500.0p on Tuesday after the group delivered a 23% incremental pre-tax profit margin in FY23, lower tax, and a dividend per share of 102.0p with still sizeable net free cash balances at end of the trading year.
Canaccord Genuity said the opportunity it saw was that Clarkson shares deliver just a 13.1x year-ahead price-to-earnings ratio versus the previous lowest quartile 15.6x and pre-Covid median PER at roughly 19.7x.

"As Clarkson enters FY24E, DPS progression, growing net free cash, and scope to repeat 2023's profit improvements are all potential catalysts ahead," said Canaccord.

"Prospects tend to strengthen as the calendar year matures - helped as profit-compounding factors intensify from the company's investment in colleague teams (e.g., more broking experts), improved technology (like Sea/), and upside from bolt-on M&A."

The Canadian bank, which reiterated its 'buy' rating on the stock, thinks that its sizeable free cash differentiates and enhances the value of Clarkson by adding confidence to counterparties and employees, as well as strong foundations to continue dividend progression.

Canaccord added that improving return on equity and cash added to potential upward pressure.







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.

 

Clarkson Market Data

Currency UK Pounds
Share Price 4,450.00p
Change Today -35.00p
% Change -0.78 %
52 Week High 4,565.00
52 Week Low 2,550.00
Volume 17,907
Shares Issued 30.76m
Market Cap £1,368.75m
RiskGrade 171

Clarkson Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
86.32% below the market average86.32% below the market average86.32% below the market average86.32% below the market average86.32% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
84.63% above the market average84.63% above the market average84.63% above the market average84.63% above the market average84.63% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average
Income
38.32% below the market average38.32% below the market average38.32% below the market average38.32% below the market average38.32% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
44.75% above the market average44.75% above the market average44.75% above the market average44.75% above the market average44.75% above the market average
16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average16.67% above the sector average

What The Brokers Say

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

Clarkson Dividends

  Latest Previous
  Final Interim
Ex-Div 09-May-24 31-Aug-23
Paid 24-May-24 15-Sep-23
Amount 72.00p 30.00p

Trades for 19-Jul-2024

Time Volume / Share Price
16:12 0 @ 4,420.00p
16:12 0 @ 4,420.00p
15:52 0 @ 4,435.00p
15:52 0 @ 4,435.00p
16:35 10,964 @ 4,450.00p

Clarkson Key Personnel

CEO Andi Case

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