Scapa Group (SCPA)

Sector:

Industrial Chemicals

Index:

FTSE AIM 50

230.00p
   
  • Change Today:
    -3.00p
  • 52 Week High: 434.60
  • 52 Week Low: 157.00
  • Currency: UK Pounds
  • Shares Issued: 155.24m
  • Volume: 93,346
  • Market Cap: £357.06m
  • RiskGrade: 301
  • Beta: 0.95

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Berenberg cuts target price on Scapa despite 'positive' Q1 update

By Iain Gilbert

Date: Tuesday 23 Jul 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg slashed their target price on diversified healthcare and industrial company Scapa on Tuesday, but said the group's "positive start" to the year should restore some investor confidence.
Berenberg cut its price target on the group from 520p to 300p but said that Scapa's first-quarter figures, released earlier in the day, showed that things were "not all doom and gloom" for the business, which revealed organic growth in both divisions.

The bank said Scapa's first-quarter trading update was "solid", with revenues increasing 34.6% on a continuing FX basis.

Berenberg noted that even when excluding Scapa's recent contract wins with ConvaTec and Systagenix, the group still delivered 3% organic growth in its industrial business and 4% in its healthcare division.

"In the context of the current share price fall, we think this is a good result," said the German bank. "With positive trading and Scapa clearly confident enough about its case versus CVT (it recently decided to pursue legal action), we feel that the risk is skewed to the upside."

However, Berenberg did opt to adjust its numbers to reflect lost ConvaTec revenues of £27m and underlying earnings of £13m, bringing it in line with consensus.

While Berenberg lowered its price target on the company, the analysts said they still believe in Scapa's long-term story and confidently reiterated their 'buy' rating on the stock.

As of 1310 BST, Scapa shares had picked up 1.45% to 168p.

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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.

 

Scapa Group Market Data

Currency UK Pounds
Share Price 230.00p
Change Today -3.00p
% Change -1.29 %
52 Week High 434.60
52 Week Low 157.00
Volume 93,346
Shares Issued 155.24m
Market Cap £357.06m
Beta 0.95
RiskGrade 301

Scapa Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
78.77% below the market average78.77% below the market average78.77% below the market average78.77% below the market average78.77% below the market average
14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average14.29% below the sector average
Price Trend
79.06% below the market average79.06% below the market average79.06% below the market average79.06% below the market average79.06% below the market average
42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average42.86% below the sector average
Income
79.92% below the market average79.92% below the market average79.92% below the market average79.92% below the market average79.92% below the market average
71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average71.43% below the sector average
Growth
23.64% below the market average23.64% below the market average23.64% below the market average23.64% below the market average23.64% below the market average
26.32% below the sector average26.32% below the sector average26.32% below the sector average26.32% below the sector average26.32% below the sector average

What The Brokers Say

Strong Buy 3
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 4
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Scapa Group Dividends

  Latest Previous
  Final Final
Ex-Div 25-Jul-19 19-Jul-18
Paid 23-Aug-19 17-Aug-18
Amount 2.90p 2.40p

Trades for 18-Nov-2019

Time Volume / Share Price
14:40 2,151 @ 229.85p
14:30 196 @ 230.00p
14:30 153 @ 230.50p
14:23 180 @ 230.00p
14:23 890 @ 229.35p

Scapa Group Key Personnel

CEO Heejae Chae
CFO Oskar Zahn

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