Greencoat Renewables (GRP)

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Investment Firms

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FTSE AIM 100

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  1.13
   
  • Change Today:
     0.00
  • 52 Week High:  1.1
  • 52 Week Low:  1.0
  • Currency: Euro
  • Shares Issued: 520.00m
  • Volume: 1,207,262
  • Market Cap:  586.30m
  • RiskGrade: 40
  • Beta: 0.01

Greencoat an 'outlier' with unwarranted discount to peers - RBC

By Iain Gilbert

Date: Wednesday 27 Mar 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at RBC Capital Markets upgraded Greencoat Renewables to 'outperform' on Wednesday, noting favourable winds had blown the Irish infrastructure company to an inflection point in its development.
RBC felt that Greencoat had clearly delivered on its IPO pledges over the course of 2018, and following its recent equity raise, the firm looked set to have "a healthy growth profile" in the rapidly developing Irish wind market that offers "excellent cashflow visibility".

"We believe GRP should trade at a premium, not a discount, valuation to peers," said RBC.

The Canadian broker, which also upped its target price on the group to €1.20 from its previous €1.10 per share standing, said there were two structural drivers of continued growth in wind capacity across Ireland that should allow Greencoat to continue its expansion before eventually looking to new European geographies - policy and demand.

RBC noted that Irish onshore wind capacity dominates renewables in Ireland and also stated that Ireland was "an outlier" in Europe in terms of electricity demand growth.

"EirGrid forecasts demand could grow by up to 57% over the next decade, largely driven by increased usage from data centres," add the analysts.

With Greencoat trading at around a 5% premium compared to the peer average of 10%, RBC felt now was the time to take advantage of a firm scaled up and ready to benefit from attractive market growth.

"We do not see this discount as warranted, especially given the recently increased scale, growth prospects and excellent cashflow visibility," concluded RBC.

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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.

 

GRP Market Data

Currency Euro
Share Price   1.13
Change Today   0.00
% Change 0.22 %
52 Week High  1.1
52 Week Low  1.0
Volume 1,207,262
Shares Issued 520.00m
Market Cap  586.30m
Beta 0.01
RiskGrade 40

GRP Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
Market averageMarket averageMarket averageMarket averageMarket average
85.84% above the sector average85.84% above the sector average85.84% above the sector average85.84% above the sector average85.84% above the sector average
Price Trend
Market averageMarket averageMarket averageMarket averageMarket average
35.64% above the sector average35.64% above the sector average35.64% above the sector average35.64% above the sector average35.64% above the sector average
Income
Market averageMarket averageMarket averageMarket averageMarket average
99.23% above the sector average99.23% above the sector average99.23% above the sector average99.23% above the sector average99.23% above the sector average
Growth
Market averageMarket averageMarket averageMarket averageMarket average
16.62% above the sector average16.62% above the sector average16.62% above the sector average16.62% above the sector average16.62% above the sector average

What The Brokers Say

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

GRP Dividends

  Latest Previous
  Q1 Q4
Ex-Div 02-May-19 07-Feb-19
Paid 30-May-19 28-Feb-19
Amount 1.51¢ 1.50¢

Trades for 25-Jun-2019

Time Volume / Share Price
12:43 145,400 @  1.13
16:27 10 @  1.13
16:27 1,827 @  1.13
15:48 8,000 @  1.13
15:03 10,000 @  1.13

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