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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Finncap Group Plc | FCAP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 7.90 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 7.90 | 7.90 |
| Industry Sector |
|---|
| GENERAL FINANCIAL |
| Top Posts |
|---|
Posted at 15/9/2023 17:21 by quepassa The name change has already occurred as of 11th. September.the old Finncap/Cenkos name has/have gone and they are now officially called:- Cavendish Capital Markets Limited. Still temporarily trading under the old FCAP ticker but the new ticker of CAV is expected shortly from the stock exchange |
Posted at 01/11/2022 18:09 by luckymouse Hi Big7ime - yes meant sharesFCAP Management have declared |
Posted at 18/10/2022 11:48 by nigelpm I can't see a deal here given low valuation of FCAP and market seems to agree but what it has done is remind the market how cheap it is and put it back in the spotlight. |
Posted at 18/10/2022 09:15 by dangersimpson2 This was the story: The rise so far only reverses the weakness of the last couple of weeks. As a fairly illiquid share, small sells from forced sellers have an outsized effect. Whereas when you look at the actual business, then they have been raising money for clients and executing M&A deals fairly regularly even in this more difficult market. Going forward, any deal will have to meet the requirements of the larger holders, although presumably, they will be willing to take equity to retain influence over the long-term direction of the business. With the company "in play" I would be surprised if other IBs aren't also interested here, given the low valuation. I wonder if someone like Numis could counterbid. They have plenty of cash and are a good fit for both the ECM and M&A part of the business. In previous presentations, Sam Smith said that FCAP wouldn’t do takeovers themselves since it would dilute their unique culture. So she may not be that pleased about an offer. Still, you can’t leave a company with the share price at all-time lows and expect that your successor doesn’t consider all options. Psychologically, I think the 31p she last paid for shares in the market might prove the minimum price she'd accept. I'd be happy with that, even though I think they could be worth multiples of that in a few years anyway. |
Posted at 05/8/2022 11:48 by jangaman Nice dividend with a good earnings yield. Trading at cash levels too. Looks ridiculously cheap to me. |
Posted at 10/3/2022 13:43 by lennonsalive Always the same here with FCAP, up on news and then a drop. |
Posted at 23/2/2022 12:08 by dangersimpson2 This will be read through from Peel Hunt's profit warning today. Although it really shouldn't be a surprise to investors that ECM will have been weak.FCAP have a higher proportion of M&A which will mean they are less affected, at least in the short term. The known transactions still suggest that FCAP are more likely to beat FY22 estimates than miss, although I am expecting the FY23 outlook to be for weaker performance unless market sentiment improves between now and then. This is illiquid though, so any trades each way will exaggerate the moves. |
Posted at 11/2/2022 14:38 by boadicea I have frequently seen shares bought at below quoted mid-price but not often seen them bought at the bid price as can be done with FCAP today.While one's tempted to think that's a bargain, I fear (wearing my Dr Doom hat) that it may presage a dump waiting to show in delayed trades or at least a severe overhang and general fear of an imminent business slump.. This particular market sector has some of the lowest rated stocks, NUM being another one anticipating doom tomorrow. |
Posted at 19/11/2021 12:55 by farnesbarnes Small Caps Life today:finnCap (FCAP.L) - Interim Results These results were largely known since revenue was announced in the trading statement and costs tend to be roughly proportional to revenue. Adjusted EPS comes in at 3.54p for the half-year, cementing this as one of the cheapest shares on the market on earnings. Although, we would typically not adjust out share-based payments since these are a real cost borne by shareholders. Management are of the view that fully diluted EPS is a better measure of the true performance than applying IFRS2 to calculate share-based payments. This means that 3.17p fully diluted but adjusted EPS is probably a reasonable figure to take. So still cheap. The increase in cash is not as large as the earnings due to deals completed towards the end of the period ending up in receivables: Cash balances: £22.6m at 30 September 2021 (31 Mar 2021: £20.4m) To get a better feel of this, Mark dusts off his trusty friend: shareholders cash. This is cash - debt + NWC (if it is negative) - any provisions. Although finnCap has a requirement to hold regulatory capital, movements in shareholders cash give a good feel for how value has accrued to shareholders in the period. In finnCap's case, we will include in the NWC longer-term financial assets and liabilities plus tax owed since these real assets and liabilities. "Shareholders cash" has gone from £8.5m on 30th September 2020, to £12.0m on 31st March 2021 to £18.5m in these results to 30th September 2021. This makes net cash about 1/3rd of the current market cap. On top of this a £0.8m dividend was paid in H2 last year, and £1.6m during this period so the last 12 months has generated £12.4m of value net to shareholders. In addition, they said in the InvestorMeetCompany presentation that the current cash balance is considerably higher at the moment vs period end. A further increase in dividend guidance has been given with these results: Given the strong financial performance so far in FY22 and the Group's much improved balance sheet position, the directors intend to pay an interim dividend of 0.6p per share, a rise of 20% on last year. In addition, following the upgrade in our revenue guidance range, the Board has increased its dividend payment intention for FY22 to a total of 1.75p per share (subject to unforeseen circumstances). This is about a 4.7% dividend yield. Clearly, they could afford to pay much more, but priorities are for growing the business in the short term: In addition to our equity sales and trading team hires, we have also hired junior execution team members in both Capital Markets and M&A to ensure we have the capacity to service the future needs of our clients... We continue to review potential M&A opportunities. We are currently focusing on ESG related consultancies with established track records and repeatable revenue as part of our strategy to broaden our range of strategic advisory to the C-suite and expanding our business potentially beyond its core financial services offering. In terms of outlook, finnCap retain their guidance: revenue expected to be in the £45-£50m range; staff costs (excluding share-based payments) c.58-62% and non-staff costs c.£10m. Broker Progressive have made a very minor upgrade to their forecasts: We have increased our revenue forecast for the current year by 2% to £48.5m, based on a positive trading outlook. This means that progressive are forecasting 0.95p of adjusted EPS for H2. £48.5m Revenue implies that they do £16.8m for H2. On Cavendish they say: Activity levels are now lower than in H1, but the finnCap Cavendish team has already completed a further two deals since the half year end and we expect the team to deliver a good full year result with revenue above £20m. So that is more than £3.9m for H2, but seems a very low bar, and would be one of the lowest Cavendish half-years since listing. Interestingly, on the IMC presentation, they say that they typically have 1-year visibility on these deals and the pipeline out into the future is also strong. On transactions: Overall, market volumes and activity have decreased during H1 but the sales and trading team delivered revenue ahead of last year benefitting from one very significant sell down and the first contribution from the finnCap Analytics team. On ECM overall: After experiencing very high client activity last year, in our strongest sectors, delivering H2 revenue at levels similar to H1 would be an excellent outcome for the Capital Markets team. So it sounds like H1's £15.6m ECM revenue is their target but likely to come up a bit short. Still, that would easily beat Progressive's forecast revenue. Management say that they aren’t sandbagging with their current guidance, but they know the importance of hitting market forecasts, so there is still a chance they plan to underpromise & over-deliver. Although in our analysis on here we have tended to focus on short term trading, one thing the management was keen to point out was their ability to grow whatever the market conditions. Saying "we are a long-term growth play". Their strategy is to build a very different financial services business. They have recruited 30 people this year and said in the IMC presentation “we are a great place to work....well ahead of competitors as a good place to work” which is key to talent retention. They have plenty of interesting, good value M&A opportunities too, but it is not in the strategy to buy competitors due to the difficulty in adapting cultures. If they can deliver on their long-term growth ambitions, then the current rating looks much too low for a growth business. |
Posted at 29/9/2021 20:44 by tole https://www.fool.co. |
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