Warpaint London (W7L)

 410.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 640.00
  • 52 Week Low: 375.00
  • Currency: UK Pounds
  • Shares Issued: 80.79m
  • Volume: 0
  • Market Cap: £331.23m
  • Beta: 0.20

RBC Capital reiterates positive outlook on W7 owner Warpaint

By Michele Maatouk

Date: Friday 29 Nov 2024

LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets reiterated its positive outlook on cosmetics firm Warpaint on Friday, saying it continues to believe the company is well positioned in the market, successfully executing on its growth strategy.
Warpaint owns brands such as W7 and Technip.

"With strong retail partners on board in the UK/US/EU and continued expansion plans, we believe W7L is well positioned to continue growing ahead of the underlying market (circa 6% compound annual growth rate)," RBC said.

The bank said it forecasts revenue growing at about 13% CAGR through 2026, combined with 30 basis points/year adjusted EBITDA margin progression.

It said that following the recent release of financial results from peers e.l.f. Beauty and Revolution Beauty, it has noted some key strategic takeaways amongst the group.

"Overall results have been good for the group with all reporting positive growth outlook statements and continued expansion with retailers," it said. "This is underpinned by consumer demand for an accessible, on-trend, quality cosmetic range at an affordable price. Overall, this gives us further confidence on our outperform thesis."

The bank maintained its 685p price target on the stock.

RBC said that given the shares are currently trading at CY2025E EV/adjusted EBITDA of 14.5x, versus e.l.f at 21.4x, it thinks there is an opportunity here for investors.

"We expect W7L to trade more in-line with its peer multiples as it continues to demonstrate its ability to grow and maintain margins."

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W7L Market Data

Currency UK Pounds
Share Price 410.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 640.00
52 Week Low 375.00
Volume 0
Shares Issued 80.79m
Market Cap £331.23m
Beta 0.20

W7L Star Ratings

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What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
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Total 3
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W7L Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Nov-24 13-Jun-24
Paid 22-Nov-24 05-Jul-24
Amount 3.50p 6.00p

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W7L Key Personnel

CEO Samuel Bazini

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