Share Name Share Symbol Market Type Share ISIN Share Description
Keywords Studios Plc LSE:KWS London Ordinary Share GB00BBQ38507 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  +14.00p +0.84% 1,679.00p 240,760 15:38:39
Bid Price Offer Price High Price Low Price Open Price
1,677.00p 1,680.00p 1,703.00p 1,668.00p 1,687.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 225.52 19.87 20.83 82.3 1,075.2

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Date Time Title Posts
21/5/201909:25Keywords Studios - Tech for Video Gaming2,466

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Keywords Studios Daily Update: Keywords Studios Plc is listed in the Technology Hardware & Equipment sector of the London Stock Exchange with ticker KWS. The last closing price for Keywords Studios was 1,665p.
Keywords Studios Plc has a 4 week average price of 1,532p and a 12 week average price of 1,024p.
The 1 year high share price is 2,110p while the 1 year low share price is currently 885p.
There are currently 64,039,529 shares in issue and the average daily traded volume is 547,930 shares. The market capitalisation of Keywords Studios Plc is £1,075,223,691.91.
rivaldo: Another small but perfectly formed acquisition today - this time in Japan, with plenty of potential given its speciality in Japanese mobile gaming and its existing and continuing sales to former parent company Ankama: Https:// Extract: "Christopher Kennedy, Regional Managing Director - Asia of Keywords Studios commented: "We are thrilled to welcome Guillaume and the Wizcorp team to join our fast-growing operations in Tokyo where we already employ 300 people. Japan is one of the world's most significant game development hubs and has a long history in this industry. Keywords is excited at the opportunities Wizcorp will bring the Group and its clients in the Japanese market as it becomes the latest member of our global Engineering service line. Wizcorp's HTML5 expertise is a valuable extension to our console, mobile and PC games development skills, which is particularly interesting in the context of Snap's recent launch of its HTML5 based gaming platform. "We look forward to replicating the success of our previous transaction with our long-standing client, Ankama, which saw us acquire their 23 people strong captive player support operation in Manila in March 2016 before building it into a multi-client player support hub that now employs 700 people. We see a strong opportunity to accelerate Wizcorp's growth by building on its existing services for some of Ankama's game development needs and providing it with opportunities to work with Keywords' extensive client base."
rivaldo: More re Liberum's upgrade: Https:// "Keywords to benefit from gaming changes, says Liberum A strong set of full-year results shows that video games platform Keywords Studios (KWS) looks set to benefit from changes in the market, says Liberum. Revenues for 2018 of £217 million, representing like-for-like growth of 10%, were in line with consensus. Gross margins grew to 38%, while adjusted earnings came in at £38 million, 1% ahead of forecasts. Keywords had also seen a positive start to the year with important contract wins, including the acquisition of GetSocial, enhancing the platform’s cloud-based solutions and games analytics services. Analyst Alexandre Schmidt said the sudden and continued success of online game Fortnite was a tailwind for Keywords given its ‘considerable’ amount of work with the ‘important franchise’. With Google, Tencent, Microsoft and Amazon all getting closer to launching their own streaming platforms, he said this could become a ‘major delivery channel sooner than expected’. ‘Keywords has stated that it is already working with major game makers and platform providers in order to port old and new games to the cloud,’ he said. ‘That, in combination with the increased reach of the cloud among gamers and higher game complexity (allowed by nearly unlimited processing power) should be a catalyst for higher demand for games services in the coming months.’ Schmidt revised the target share price to 1415p from 1245p."
rivaldo: Nice tip on Forbes' web site: Https:// "Today I’m looking at two brilliant companies whose share prices could rise next week. Keywords Studios You may not have heard of Keywords Studios but it’s a stock that’s making some serious waves in the global video games industry. The AIM-quoted company -- which provides technical assistance to game developers -- is riding the stunning popularity of the Fortnite franchise across the world, and said in January said that it expected full-year revenues for 2018 to have leapt to “at least” €250m from €151.4m the year before. The Fortnite phenomenon is yet to show any signs of dying down any time soon as developer Epic Games stays committed to bringing out different playing modes for the popular franchise. Indeed, the company estimates that the Creative mode which was launched in December has attracted some 100 million gamers already. And this bodes well for Keywords’s bottom line for a long time yet. For this reason I’m expecting another strong update when full-year results are put out on Monday, April 8. But Keywords is by no means a one-trick pony. The tech titan is expanding its range of services to cover exciting new areas, ones like “predictive analytics, music services, marketing services, sound design, and Hollywood-based voice production and writing services” (as the firm itself noted in January’s update), and areas which the business has built its presence in with the help of ongoing M&A activity. It’s made nine acquisitions since the start of 2018 alone. One other reason to be bullish: the rollout of 5G mobile networks and improvement in internet bandwidths, moves which will bolster the growth of so-called cloud gaming, also presents stunning sales opportunities for Keywords further down the line. City analysts are certainly optimistic and they predict earnings expansion of 21% in 2019 and 12% next year, projections that make the business a bargain on paper (it sports a forward PEG reading of just 1.1 times). In fact, this low rating could provide the platform for Keywords’s share price to take off in the wake of fresh trading details next week."
rivaldo: Here's the tip FYI: Https:// "Geeks have never been more in demand In the video games arms race, developers have to spend big on manpower. Grand Theft Auto creator Rockstar Games is a case in point: the company employed more than 3,000 people to make the Wild West epic Red Dead Redemption 2, which sold 17m copies in eight days after release. Keywords Studios wants to exploit that trend. The Dublin-based company, valued at £740m and listed on London’s junior market, is the largest provider of third-party services to the gaming industry, from visual effects to games testing. Keywords is convinced that as games become more complex, developers will have to outsource more work so they can scale up quickly and release games on time. That argument has been largely overshadowed of late. Keywords’ share price has dropped by 25% to £11.56 over a year as some of the industry’s biggest developers took a hit from the growth of online shooter Fortnite. Activision Blizzard, the company behind the Call of Duty series and Candy Crush, surprised the market in February when it posted lower-than-expected profit forecasts for the first quarter. However, Berenberg analyst Edward James thinks doubts over Keywords are “ill-founded” and says big developers have shown little sign of easing investment in new titles. Outsourcing could even grow faster than the video games sector as a whole, according to Liberum analyst Alexandre Schmidt, with the likes of Keywords snaffling market share by cross-selling services. These are not the only reasons to give Keywords a second look. Google announced this month that it would break into the £100bn global computer games industry by launching the Stadia streaming service. The American tech giant expects big things from “cloud gaming”, where players stream games from Google’s vast data centres. The move could trouble console makers such as Sony and Microsoft. For those down the food chain, it’s a big opportunity. If cloud gaming follows the Netflix route, the cost of playing games should fall. A monthly subscription fee for access to multiple games could work out cheaper than the £45 it costs to buy a new game off the shelf. It would also do away with the need for an expensive console, making gaming more affordable in countries such as India or areas of South America. That could prove a boon for Keywords, which is also a big provider of translation services to the video games industry. With Amazon also preparing a push into cloud gaming, Keywords looks like a solid long-term bet. Buy."
rivaldo: Growth is accelerating per Jefferies: "Keywords Studios' organic revenue growth accelerated in the second half of 2018, showing market panic late last year was excessive, Jefferies says. Investors were doubtful about whether the Irish provider of services to the videogames industry could deliver on its goal of achieving 10% organic growth over the medium term, the bank says. Keywords now confirms organic growth came in at 10% in 2018, which implies a second-half acceleration from the 8.6% increase it posted in the first half, Jefferies says. "The associated share price collapse now looks wholly overdone to us," analysts at Jefferies say. Shares rise 8.7% to 1,174 pence."
togglebrush: All quiet on the KWS front even when a day we have a 9% share price hike
1670127: @ali47fish. Sorry for the delay in responding. The reason I'm moving to a cash position is due to broader factors. In the next two weeks we have the Brexit vote. If the agreement doesn't get approved, which is not likely, who knows what will happen. Worst case from a stock market position is we have a general election and a labour government that is not friendly to businesses. Add to that global trade wars and tariffs and a general slowdown in growth everywhere means companies are likely to struggle to grow at the same rates. Shares like KWS where even today operate on high forward P/Es are likely to bit hit harder as thier share price is based on the growth story. We are in December now, KWS indicated in thier results they would have two more acquisitions this year. It's starting to look tight for those to happen. Don't forget the later these happen the less revenue will be factored into the next results, they need these to keep the growth numbers up.
1670127: I appreciate the numbers that the analysts are giving and they may turn out to be accurate. That said I disagree with them. The current market valuation is 738 million. My estimates are that with all the acquisitions this year included that the total profit will have increased to around 30 million during 2019. That gives a forward P/E for next year of still 24 to 1 or double the NASDAQ average. In the last statement KWS indicated that they only had $100,000 of free cash so any additional revenue through acquisitions would need to be through a share placement, at a discount, or through debt. With the volatile share price no company will accept shares as part payment. The rolling credit facility is likely to have covenants attached, I have no idea what they are but I would suspect that they include some statements on the value of the company, think about taking a loan out on your house, the bank will lend you more money if your house is worth more. The short numbers are high, very high in fact. They have probably got some inside information about some problems or maybe breaches of those covenants. I am hearing a number of rumors from friends who work at KWS, that may or may not be true, but I am putting out here that the first half of next year will show a reduction in organic business not growth. If that happens a P/E rating of 8-1 is probably a more accurate valuation. That would be a 70% reduction from where we are today. I'm sure other people have differing views to me and I respect their positions but I would point out I was predicting this correction long before it started to happen!!
1670127: Scooper I hope that you were not too exposed. It is easy to get emotionally attached to stocks, I have done it a number of times to my cost. There will be up days and down days for this stock, however I still feel the correction has some way to run. My general rule is not to hold more than 10% of my portfolio in one stock. I would be cautious before re-entering the fray. The volatility needs to settle, unless you want to day trade. Even at these levels, the current valuation is based on the forward growth story, but based on the predicted earnings for next year this is priced above fair market value, which is a huge risk. I believe that organic growth has largely disappeared. Yes they reported 8% (2%) in the last results but this is is mainly due to inter-company pricing mechanisms. With the large acquisitions, that took place last year, it is possible to massage the organic growth numbers. Next year that will be challenging, a base revenue of 300 million and acquisitions of only 30 million will make this almost impossible, especially with the loss of large clients like Telltale (that went under) and the fact that 2018 is a high year for Games development. If the growth story goes towards a standard IT service company, with moderate growth, you are looking at P/E ratings of between 8/1 to 12/1. The KWS acquisition strategy has also become more difficult with the share price drop, companies may no longer accept shares and ask for all cash transactions, and for those that will accept shares the dilution on the company is now twice what it was a month ago. More worrying to me is the lack of comment from the company. A reassuring RNS stating that that revenues and profits are in line with market expectations would give some support to the share price, as would some director buys (which have been none existent for a year). My gut is that there are some underlying issues that may have leaked out to institutional investors/holders of shares through acquisitions and shorters. This has allowed them to off-load before the average shareholder I still believe this will trend down to 8 pounds a share. Any miss on the numbers and it could go well below that level.
1670127: I think KWS have an opportunity to grow but the successful strategy employed to date is not going to work going forward. Once you have all the services and work with all the major clients then you already have the cross selling opportunities. Buying other companies, with the same clients, provides limited upside and there are risks that some clients will move work to keep a diversified supplier base or ask for reduced rates on current work if the acquired company has lower rates. I've not analysed FDEV but after a cursory look it is interesting that the wife of the owner has bought 460,000 pounds of shares. At least they back themselves. I've not seen any director buys on KWS despite the near halving of the share price, probably says it all!!!
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