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Share Name Share Symbol Market Type Share ISIN Share Description
Equals Group Plc LSE:EQLS London Ordinary Share GB00BLS0XX25 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.70 0.8% 88.50 3,695 08:00:00
Bid Price Offer Price High Price Low Price Open Price
87.00 90.00 88.50 88.50 88.50
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 44.09 -3.82 -1.35 159
Last Trade Time Trade Type Trade Size Trade Price Currency
08:38:45 O 2,000 87.90 GBX

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Date Time Title Posts
06/2/202308:20Equals Group: e-banking and payments group2,301

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08:38:4687.902,0001,758.00O
08:20:2887.90983864.06O
08:03:0687.90712625.85O
2023-02-08 16:46:3187.73789692.19O
2023-02-08 16:35:2187.80410359.98UT
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Equals (EQLS) Top Chat Posts

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Posted at 09/2/2023 08:20 by Equals Daily Update
Equals Group Plc is listed in the Support Services sector of the London Stock Exchange with ticker EQLS. The last closing price for Equals was 87.80p.
Equals Group Plc has a 4 week average price of 85.20p and a 12 week average price of 85.20p.
The 1 year high share price is 99.50p while the 1 year low share price is currently 58.50p.
There are currently 179,341,807 shares in issue and the average daily traded volume is 105,161 shares. The market capitalisation of Equals Group Plc is £158,717,499.20.
Posted at 24/1/2023 08:09 by sev22
Tipped by Simon Thompson in the Investors Chronicle last night:

I am always on the hunt for operationally geared companies with asset-light business models that earn a high return on equity and generate positive free cash flow. This type of business should be able to recycle cash flow to enhance shareholder value, while offering potential to outpace earnings guidance in a positive sales cycle.

Aim-traded fintech payments group Equals (EQLS:87p), a leading challenger brand in banking and international payments, offers exactly that. In early December, analysts upgraded their revenue and earnings estimates, and have been forced to do so again after Equals reported 59 per cent higher annual revenue of £69.7mn, lifted gross profit by 39 per cent to £33.6mn and delivered cash profit marginally above £12mn (6 per cent beat), representing 79 per cent growth year on year. Net cash is up a third to £15mn (8.3p a share), too.

Analysts at house broker Canaccord Genuity expect current-year cash profit to rise to £15.5mn on revenue of £80mn – conservative-looking estimates – to deliver a third higher earnings per share (EPS) of 6.4p. This implies the shares are rated on a modest cash-adjusted price/earnings (PE) ratio of 12.3 and enterprise value to cash profit multiple of nine. I reiterate my 144p target (‘Profiting from SMEs, 7 September 2022), or almost double my 77p entry point (Alpha Research: ‘A high tech fintech payments opportunity’, 8 April 2022). BUY.

Posted at 20/1/2023 04:14 by carcosa
Seems to me there is often a debate that surrounds the difference between the needs of a growing business and the desires of investors. Growing a business takes years whilst many retail investors have a timeline of weeks, months, a year if lucky.

Discussion from investors on boards such as ADVFN often goes along the line of the directors should be buying more shares, institutions should never sell, Directors getting overpaid (salary/LTIP's etc), need better brokers, better press coverage, more RNS's better PR, be traded on other exchanges and... should start paying dividends. All of which are aimed at manipulating the share price and not really doing anything for the business itself.

Fact of the matter is Equals have yet to make consistent profits let alone high FCF. Until consistent profits occurs a dividend is out of the question especially when returns are greater from investing in the business than a dividend payout.
What is worse is that even if it's a nominal dividend, should the business environment change and they have to stop paying even a nominal dividend, then it tends to have a disproportionate negative effect on the share price wiping out the value of several years of dividends.

Am also not convinced that a nominal dividend is meaningful. Even if it allows a new institution to use it as an excuse to buy in then. Academic research shows that institutions typically prefer non dividend paying companies that engage in larger share buybacks, whereas retail investors are the exact opposite.

The ability to grow a company above 100m/250m/500m market cap is more significant for institutions than a dividend and the larger the company grows the more institutional investors become interested. Around the current market cap there is simply not enough shares for most institutional buyers to be interested. So that leaves the door open for further placings i.e. dilution to occur or secondary placings (which really is unlikely to happen given EQLS shareholding base).

When Crystal Amber had to sell their holding I thought it would go to an institutional buyer but am not sure that entirely happened. Incidentally do Crystal Amber still hold any shares; according to their website they had <3% end September 2022?

We now have the prospect that Downing Strategic will be a forced seller of their holding (1.8m shares??) in late 2024

If and when a dividend is paid out it has to be accompanied with a dividend policy statement e.g a percentage of FCF or some such metric which implies a progressive dividend. Just having a year after year dividend yielding 1% does no one any favours.

Posted at 18/1/2023 15:09 by brummy_git
Plenty of institutions have been building up their EQLS stakes, such as Schroders, Downing & Columbia Threadneedle - to name just a few.

Remember that most of these guys also have been impacted by redemptions. Which just reinforces the belief they have in the business model.

IMO, we all just need to be a little patient & let the Board wave its magic wand again.

Believe me, I'm sure EQLS is right in the cross-hairs of many professional investors' minds. The excellent progress the Board has made over the past 2-3 years is not forgotten in the City by any stretch of the imagination.

Posted at 18/1/2023 12:10 by big7ime
They need to start paying a divi imo, if they paid 2% it’d add 20% to the share price
Their peer group pay divis, need to attract institutional investors
Or be vulnerable to being a target themselves or maybe that’s what ST wants

Posted at 17/1/2023 10:34 by mcl1
Great numbers, but its becoming abundantly clear that there is a disconnect between the share performance and the growth of the underlying business.

Ian S-T has done a great job of repositioning the company, but now he, along with the in house brokers, needs to focus on the share price. It's all well and good people 'valuing' it at much higher levels, but history teaches us that has no baring on the share price

More roadshows, more presentations, more publicity and definitely more institutional clients. Without the above we're all sitting on a wish trade.

Posted at 17/1/2023 08:19 by redartbmud
The early froth is dissipating from the share price. That is interesting, but merely noise.
This business is growing in a structured and controlled way, with much more to come. It is clearly undervalued by the market at present levels.

red

Posted at 17/1/2023 07:34 by brummy_git
Another day, another upgrade from B2B international payments & fintech platform
Equals. Indeed the 4th in less than 12 months.

All the details and commentary here. I have increased my valuation to 160p/share.

www.linkedin.com/posts/paul-hill-a5994116_eqls-eqls-activity-7021015989156749312-TCnT?utm_source=share&utm_medium=member_desktop

Posted at 05/12/2022 13:56 by mcl1
Buffetteer I think both comments are valid. Everything you say is true and it seems a good business, well managed and hopefully all of the synergies will come to the fore, but it may not be in the short term.

However, in the current environment without reasonable profit growth I think the share price may continue to languish. So, a lot depends on your time horizon.

Posted at 22/11/2022 15:15 by sphere25
Thanks folks.

With the further delayed prints taking the exchanges to a tidy 8.1m, that should have done it - surely you place the residual of the holding at 86.5p when buyers in size are found.

The amounts seem to tally with what Crystal Amber might have had left too. Nonetheless, this is stand out demand for EQLS and the price has popped from flat, to up 6% on that, as the market has realised there are big buyers about.

Taken a few trying to ride this momentum higher. Should have had more, but it's a rare off day for ADVFN (used to be regular at times, so if it's just like this now and again, can let it slide - things always go wrong now and again), so take the rough with the smooth today and miss out somewhat.

The website (https://www.equalsplc.com/content/investors/important-dates) is showing a trading update scheduled for December. No date is given but last year it was on the 8th December.

I think it might be worth hanging on here because they might beat on this update or the next one. Just looking at the momentum and those Q3 numbers (1 July 2022 to 5 September 2022) in the interim results - it seems to suggest a good possibility.

I can see a few traders selling but there is still strong demand here. Surely this type of clear out of sellers is what the market has been waiting for. The interesting thing will be to see how it now reacts to what should be continued strong trading updates, and if these sellers (who were sat closing off 100p - yep I have been watching the action closely here) are now out of the way, it could end up popping nicely through 100p.

The other thing with EQLS, which has been rare in this market, is that it has done its own thing for most of the year post March. It has pretty much ignored the wider market doom and gloom, along with all the big gyrations. It is easy for a share to get drawn down with it, especially with the illiquid nature of this one.

I suspect, if it has been doing that so far, it will just carry on being valued on its own performance and merit, and the strong demand in clearing sellers up near highs is also supportive of that.

So yes, interesting one. Worth keeping a continued eye on.

Let's see how it goes. Roll on the update.

All imo
DYOR

Posted at 07/9/2022 12:17 by km18
Equals Group plc posted Interims this morning and also provided an update on trading for the period from 1 July 2022 to 5 September 2022. The former were pretty stellar, record revenue with an 86% increase to £31.4m, with £6.3m derived from the Solutions platform. A 44% increase in gross profit to £14.9 million and a 203% increase in adjusted EBITDA to £4.9m. The Group also moved back into statutory profit for the first time since 2018 with PBT of £0.9m and basic EPS at 0.38p. And the impressive performance has continued into Q3 2022 with revenues up to £13.3 million in the period, an increase of 55% over the same period in 2021.

So robust growth of the top line is continuing and is now also delivering positive EPS. Valuation looks a little mixed with forward PE ratio at 16.8x not outright cheap. But PEG ratio at 0.3x is far more attractive and top quartile for the Professional & Commercial Services market. The combination of rapid growth and average valuation looks favourable. The business also has solid balance sheet with negative net debt and the share price is already in a solid uptrend. There is a lot to like in terms of fundamentals and the fact that EQLS is already trending higher is obviously a big plus. The share remains a BUY.


https://wealthoracle.co.uk/detailed-result-full/EQLS/544

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