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CSFS Cornerstone Fs Plc

0.50 (4.17%)
29 Nov 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Cornerstone Fs Plc LSE:CSFS London Ordinary Share GB00BNG7CD28 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.50 4.17% 12.50 51,647 16:35:18
Bid Price Offer Price High Price Low Price Open Price
11.50 12.00 12.00 11.75 12.00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Catalog, Mail-order Houses 4.82M -5.61M -0.0977 -1.20 6.75M
Last Trade Time Trade Type Trade Size Trade Price Currency
16:35:18 UT 1,500 12.50 GBX

Cornerstone Fs (CSFS) Latest News

Cornerstone Fs (CSFS) Discussions and Chat

Cornerstone Fs Forums and Chat

Date Time Title Posts
28/11/202310:34At 8p the shares are significantly undervalued1,754
27/10/202313:25Cornerstone fs2,012
28/4/202312:16Cornerstone 31

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Cornerstone Fs (CSFS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type

Cornerstone Fs (CSFS) Top Chat Posts

Top Posts
Posted at 29/11/2023 08:20 by Cornerstone Fs Daily Update
Cornerstone Fs Plc is listed in the Catalog, Mail-order Houses sector of the London Stock Exchange with ticker CSFS. The last closing price for Cornerstone Fs was 12p.
Cornerstone Fs currently has 57,417,101 shares in issue. The market capitalisation of Cornerstone Fs is £6,746,509.
Cornerstone Fs has a price to earnings ratio (PE ratio) of -1.20.
This morning CSFS shares opened at 12p
Posted at 06/11/2023 10:40 by intoodeep
Cornerstone FS+ (CSFS, House Stock at 14p) Bearing growth aplenty Cornerstone FS (CSFS) is a fast-growing UK-based payment services provider to SMEs and HNWIs across c.60 currencies and >150 countries. At a relatively early stage of its development, CSFS has made significant operational and financial progress over the past two years. Having recently reached the point of positive adj. EBITDA and operating cash flow, assuming strong and broad-based growth continues, its scalable core technology platform should drive considerable operating leverage. We initiate coverage on CSFS, our forecasts suggesting significant share price upside. HOUSE STOCK.
Posted at 18/10/2023 13:25 by dupont56
Share price targets

Aimchaos - 25-30p by end of Jan [200% of the current share price in 3 months]

SP Angel - 44p based on old forecasts [308% of the current share price

Shore Capital - to be seen when the note is released any time now. I'm sure it will be over 60p [420% of the current share price].

Time to buy is now, when there has been a pullback before the next news.
Posted at 21/9/2023 14:51 by dorian12
An important point from the interims that hasn’t been discussed is the interest income on client cash balances. It has meant share price Angel materially increased their forecast for cash balances in their new note issued last week.

CSFS’s clients leave cash on account with CSFS.

Following CSFS being authorised as a full E-money institution in Aug 2021 the company was allowed to hold larger amounts of clients’ cash on accounts.

CSFS can now earn interest on these balances, but under the terms of the E-money licence is not allowed to pass any interest earned back to customers.

The interest was £183k in H1, compared to £31k for the whole of 2022.

Nothing was included in SPAngel’s previous forecast for this interest income.

Following the interims SPAngel issued a new note last week. They haven’t changed the revenue or EBITDA forecasts (I think this will be their last note so they are not changing the numbers and Shore Capital’s initiation coverage will come out soon with upgraded figures). However, they did make adjustments below EBITDA, predominantly for the interest income.

They now include £577k and £600k finance income in 2024 and 2025 and the forecast cash balance at the end of 2025 has increased from £2.7m in the previous note to £4.1m in the new note.

I also think that SPAngel are incorrectly deducting tax from the cash flow. £67k in 2024 and £350k in 2025. The company has around £5m in tax losses and does not expect to be tax paying in the medium term. The forecasts for 2023-2025 wouldn’t use up all £5m of losses. This would mean cash of £4.5m at the end of 2025.

Anyhow, sticking with their 4.1m cash forecast and adding the extra £150k cash coming in from the sale of the Capital Currencies subsidiary gives £4.2m cash at the end of 2025.

This cash forecast will see another large uplift when revenue and EBITDA forecasts are increased following the ‘substantially ahead’ outlook.

I’m hoping the upgraded forecasts should add at least £1m revenue on to each year for 2023, 2024 and 2025 and therefore at least £0.6m to cash flow each year (@61% margin and no tax to pay due to tax losses).

This could add another £2m to the gross cash balance at the end of 2025, increasing it to £6m or above.
Posted at 20/9/2023 15:51 by dupont56
Good to see buys matching sells. I think we will stay here now and then head higher when the brokers note comes out any time now.

What do people think the updated forecasts will be?

Revenue in Q3 is ahead of Q1 revenue of £2m and accelerating.

I think 2023 revenue forecast will be hiked from £6.5m to about £8m, and 2023 EBITDA forecast hiked from £0.1m to £1m.

For 2024 I'm looking for revenue being hiked to £10m+ and EBITDA of £1.5m-£2m.

That would justify a market cap of £15m+. 26p+ share price.

The 2025 forecasts are what will really make people take note. I'm hoping for £3.5m EBITDA. That would justify a 50p-60p share price.
Posted at 23/8/2023 08:49 by intoodeep
Bit of a mystery how what has been a relatively small seller(s) has resulted in such a large retrace from highs of 13p just a month ago to @8.65 - 9.25 p today. There hasn't been anything negative from the company whatsoever. Guess it's just someone or two that have cashed in from buying at lower levels and then kept on selling as MMs moved the share price back down. Buyers are back in but volumes are nowhere near enough to move the share price yet. Hopefully that will change as we approach the release of audited 6 months results in September. Current share price shows a significant disconnect from Broker's forecast of 44p so potential gap to be filled remains huge. Guess many buyers are still not active with Summer Season lull, should pick up again in the coming days/weeks

FWIW from SPA Note

Outlook: The Group’s performance in H123 is exceptional. It underscores the potential for growth under the current corporate strategy which seeks to optimise the commercial potential of CSFS’ tech platform focusing on targeting customers in high growth regions. Overall, CSFS is on track to achieve positive Adj. EBITDA for 2023E without the injection of additional capital and reduced dilution to shareholders, marking a significant achievement for the year.

Our forecasts include Revenue for 2023E and 2024E of £6.5m and £8.6m; EBITDA of £0.1m and £1.1m; and PBT of £(0.7)m and £0.03m. Cash is expected to grow to ~£1m by the end of 2024E, with sufficient cash generation to pay the earn-outs and loan notes through 2026E, eliminating further dilution to shareholders. These revisions support an equity value of ~£27.9m or £0.44/shr based on a DCF (12.5% WACC; 3.5% TG).
Posted at 08/7/2023 07:50 by z1co
Excellent news yesterday that David Ryan has bought 1.2m shares and increased his holding to 6.97%.

These shares must be from the legacy seller/s that have been dumping in the market from January onwards.

After the company issued it's full year "ahead of expectation" trading update in January the share price increased by 50% to 9p before the seller/s started to sell in the open market.The share price has held back until May when the selling stopped briefly.

It now looks like the legacy seller/s has been cleared out by David Ryan.

The company listed on the AIM with a £12.4m valuation and it should be worth a lot more now after the strong growth over the last 2 years.

Over the next few weeks the share price could well get above 20p and even then the valuation will not be expensive.
Posted at 07/7/2023 13:04 by z1co
Just to remind the few that are selling their shares that last year H1 TU was announced on Monday 11/07/2022.It was very strong but inline with forecasts and yet the share price increased by more 100% on huge volume which was more than 7m.

Share price touched 16.5p intraday.

The share price of 10.50 could easily double next week because the company is trading well ahead of management and brokers forecasts.
Posted at 01/7/2023 09:47 by z1co
It's been a very quite week in terms trades and volume but the MM's were still playing their games.

Friday no volume , share price unchanged 7.75 v 8.00
Thursday buys 8,000 : sells 9600 share price down 0.375p 7.75 v 8.00
Wednesday no volume , share price down 0.125p 8.00 v 8.50
Tuesday 12,500 buys : sells 26,000 share price unchanged 8.00 v 8.75
Monday buys 0 : sells 47,000 share price down 0.25p 8.00 v 8.75 from 8.25 v 9.00

Just 103,000 shares traded for the week and yet the MM's drop the price by 0.75p they were clearly trying to get a few weak holders in to selling their shares by dropping the bid but has NOT worked as they only managed to get around 80,000.

With the H1 trading update due in 5 or 6 working days just a few buys and the MM's will start to increase the share price aggressively.
Posted at 23/6/2023 07:32 by intoodeep
CSFS Shares in Issue 57,417,101
CSFS Market Cap £4,794,328
CSFS Share Price £0.084

It's not the lack of value on offer holding people back here for sure.

Q1 Revenues £1.95M v MCAP of £4.8M, trading at a huge discount to peers
Posted at 15/6/2023 10:16 by intoodeep
CSFS Shares in Issue 57,417,101
CSFS Market Cap £4,593,368
CSFS Share Price £0.080
Cornerstone Fs share price data is direct from the London Stock Exchange

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