Share Name Share Symbol Market Type Share ISIN Share Description
Argentex Group Plc LSE:AGFX London Ordinary Share GB00BJLPH056 ORD �0.0001
  Price Change % Change Share Price Shares Traded Last Trade
  -3.50 -2.51% 136.00 94,522 16:29:52
Bid Price Offer Price High Price Low Price Open Price
136.00 138.00 139.50 135.00 139.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Nonequity Investment Instruments 34.50 10.00 6.60 20.6 154
Last Trade Time Trade Type Trade Size Trade Price Currency
17:47:57 O 269 135.985 GBX

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Date Time Title Posts
02/2/202319:45Argentex, the bespoke service-led FX solutions provider1,065

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Posted at 03/2/2023 08:20 by Argentex Daily Update
Argentex Group Plc is listed in the Nonequity Investment Instruments sector of the London Stock Exchange with ticker AGFX. The last closing price for Argentex was 139.50p.
Argentex Group Plc has a 4 week average price of 115.50p and a 12 week average price of 99p.
The 1 year high share price is 142p while the 1 year low share price is currently 67p.
There are currently 113,207,547 shares in issue and the average daily traded volume is 241,970 shares. The market capitalisation of Argentex Group Plc is £153,962,263.92.
Posted at 26/1/2023 07:58 by brummy_git
Another tremendous trading update from Argentex today, with Singers increasing their target price by 23% from 160p to 197p/share.

All the details here.

Posted at 04/1/2023 14:14 by dr biotech
That’s quite interesting in itself. Perhaps AGFX don’t feel they need the positive paid for write ups anymore. I’ve always wondered how much they can add, when the reports aren’t particularly objective.

As an example I see Heiq have tanked today and their broker is still calling them a buy at 50p when the share price has halved. Where’s the credibility in that?

Posted at 28/12/2022 13:18 by yump
Capitulation is a sudden big drop when everyone has given up amd there are no buyers.

AGFX possibly had one March-April, certainly not in October. October showed the opposite of capitulation. Unless you’ve got an antimatter dictionary.

Its had a long bottom, although I’ve yet to see an invented term for that.

Unless all these supposedly technical terms have a different meaning depending on whose blog or website you’re reading.

There’s 1001 types of “breakout̶1; for starters.

AGFX is showing the one established years ago by going from 120p to 140p suddenly (>10%) and then revisiting the starting point.

Its now supposed to start on an increase up to 140p and then not go back.

Posted at 15/12/2022 10:45 by big7ime
Why do you think that QS99? AGFX pays a good divi and is profitable whereas Eqls - well you can see
The most undervalued of the three is surely AGFX, I think it deserves a rating similar to AFX which would mean a share price twice it’s current price!

Considering there is likely future consolidation in the industry, AGFX looks vulnerable at this price to be taken over by AFX or a foreign company

Posted at 13/12/2022 09:37 by se81
Singer to update forecasts in Jan- be interesting to see where we come out re valn then

"Argentex has published a trading update this morning. Trading for the nine months to Dec’22 to date remains strong as the Group’s core FX business benefited from market tailwinds, the operations in Amsterdam remain ahead of management’s expectations and customer growth as well as an increasing shift towards structured products benefit topline growth. AGFX now expects revenues and earnings for the period ending Dec’22 to be ahead of current market expectations. We are looking for further detail as part of the Group’s FY trading update in January and expect to upgrade our numbers on the back of this. We reiterate our Buy rating in the meantime as the Group’s strong growth potential is yet to be reflected in the share price"

Posted at 09/11/2022 11:33 by se81
100k sell order at 108- snapped up in less than 2 minutes (literally).....

If they meet/beat the LTIP hurdles they will deserve it (isn't that the whole point? recognises future performance not what has gone on in the past)

I was surprised how clean the FY results were (given the adjusted nature of historic earnings)

Probably better to look forward to value AGFX rather than back (maybe best for all companies?!)

Remember all the mistrust of management / scepticism re year end change when the share price was 75p????? The burnt bears that capitulated at the lows just can't seem to get over this one- you have to give it a chance (which does not mean to say that it can't/won't end in tears)

Posted at 09/11/2022 11:16 by manics
Directors are bulk of new LTIP when the Company already had CSOP. Bit rich to augment an LTIP when up until last month everyone was underwater:

Long-term incentive plans
The Committee recognises the importance of ensuring
that senior employees of the Company are effectively and
appropriately incentivised. In order to further encourage
long-term alignment of staff with the interests of
shareholders and the strategic objectives of the Group, the
Company operates a UK tax-advantaged company share
option plan (the “CSOP”).

The CSOP was granted at IPO to certain senior employees
of the Group excluding Executive Directors. The 311,311
Options granted under this scheme are intended to
meet the requirements of Schedule 4 to the Income Tax
(Earnings and Pensions) Act 2003 and be qualifying for
capital gains tax treatment for employees.
On 7 April 2020 the Company issued a further grant
of 4,528,300 share options under the CSOP to senior
employees within the Group. These options were issued
at an exercise price of 135p (representing a 12% premium
to the prevailing market price) and are a combination of
UK tax-advantaged company share options and share
options that are not tax-favoured. The awards will vest
in portions of one third on the third, fourth and fifth
anniversaries of grant.

New Long Term Incentive Plan

The LTIP is a value creation plan based on delivering value above the current Argentex equity value over the next four financial years. The Plan provides the potential for participants to earn meaningful value on the basis of strong company and share price performance with the hurdles being:

- compound annual total shareholder return of 10% including dividends paid or declared; and
- 15% revenue CAGR over the performance periods.
Subject to these hurdles being met, plan participants will earn up to 10% of value created above the shareholder return hurdle. The Plan will be performance tested and awards vest based on the average share price over 20 trading days following the publication of full year December 2025 and December 2026 results based on the following split:

- 50% of awards tested, vest around April 2026; and
- 50% of awards tested, vest around April 2027.
30% of the awards will be granted to Argentex's three most senior executives which is split 12% to each of the CEO and COO and 6% to the CFO. Initial allocations to a further 39 employees across different seniority levels are being made as one off awards with a small number of new joiners to be awarded an allocation in the first few months after the LTIP's implementation.

Posted at 09/11/2022 07:44 by se81
Singer update yesterday

AGFX has published interim results for the six month the period to 30 Sep’22 this morning. Strong revenue growth of 75% yoy to £27.4m was well flagged at the Group’s trading update in October. Adj. operating profit for the period is up 55% yoy to £7.3m and the adj. operating margin of 26.6% remains ahead of FY consensus. The Group’s successfully launched platform as well as its Netherlands operations saw performances ahead of expectations, providing confidence in the Group’s delivery of its strategic plan. We increase our EPS estimates by 23% and 7% for FY22E and FY23E, respectively leaving FY24E unchanged. We increase our TP to 160p as we roll our valuation forward and reiterate our Buy rating.

Strong +75% revenue growth as well as a further increase in the number of trading clients was well flagged at the trading update in October. Revenue growth was partly driven by stronger growth within forward and options-related revenues, the latter of which mitigating any impact of lower spot contribution on cash generation. Overall this has translated to attractive adj. operating profit growth of 55% yoy to £7.3m, whilst adj. operating margins at 26.6% remained ahead of management expectations and well ahead of our ~20% FY forecasts. Increased trading volumes on the back of elevated FX market volatility in the last two weeks of September were a key driver and we believe the successful navigation of this period stands testament to AGFX’s strengthened operating infrastructure.

Whilst strong revenue growth was partly driven by increasingly volatile FX markets during the period, we note the Group further progressed with its strategic plan. In its core business, AGFX has continued to increase wallet share and grow its client base. Additionally, the Group has seen better than expected performance from its Netherlands operations as well as further growth on the client platform side.

We update our model, reflecting a particularly strong performance during 9M’22, upgrading our u/lying EPS forecasts by 23% and 7% for FY22E and FY23E, respectively, leaving FY24E unchanged. The changes are driven by overall stronger topline growth reflecting increased contribution from options, increased wallet share and relatively higher spreads, partly offset by higher costs, predominantly driven by variable costs and further hiring across the business.

We roll our valuation forward, now using FY23E adj. EBITDA to derive our TP and take into account our forecast changes. As a result, we increase our TP to 160p (vs. 121.3p, previously) and reiterate our Buy rating as we see further upside and strong potential on the back of the Group’s continuous delivery of its strategic plan

Posted at 08/11/2022 12:15 by kalai1
Argentex Group plc posted impressive Interims for the six-month period ended 30 September 2022. Revenue continues to grow strongly up 75% to £27.4m compared to same period last year. Adjusted operating profit was up 55% to £7.3m. The number of corporate clients trading was up 12% to 1,393, structured solutions contributed 9.5% of revenue for HY23 up from HY22: 3% exceeding expectations. Clients trading on the new online platform grew by 82%. The outlook also remains upbeat, the Board expects that FY performance will exceed current market expectations and in the medium term expects initiatives to generate a strong return on investment through growth in revenues and optimisation of revenue mix, thereby boosting profitability and improved earnings quality. Valuation is attractive, balance sheet is strong, share price was already breaking higher and has momentum. BUY...

...from WealthOracle


Posted at 16/8/2021 03:20 by manics
So what’s your explanation for the lowly share price then ?
-lower performance against forecasted growth rates
-departing CFO
-in, out, in then out again shake it all about CEO
-poor sentiment resultant from low quality news flow (departing management)

Have you compared the previous pre-covid ratings for afx and agfx ?

Does the share price mean the business has been mismanaged ?
-in part, yes. IMO you can't justify the performance we've seen, a sustained (key word) 60% fall, without problems in the underlying business. That said, the share price in this instance imo is a symptom of mismanagement of the business as a public entity, so both fundamentally and their actions' effect on market sentiment. I think I would instead say (as I have said) that I can't currently applaud AGFX management when they've utterly failed to deliver any meaningful recovery to investors (through the share price) as sector peers have bounced back and then beyond to ATH's.

Argentex share price data is direct from the London Stock Exchange
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