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
  8.00 0.37% 2,184.00 2,814 08:25:07
Bid Price Offer Price High Price Low Price Open Price
2,180.00 2,188.00 2,192.00 2,150.00 2,150.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Technology Hardware & Equipment 276.27 14.70 12.89 158.5 1,615
Last Trade Time Trade Type Trade Size Trade Price Currency
08:25:07 AT 150 2,184.00 GBX

Keywords Studios (KWS) Latest News

More Keywords Studios News
Keywords Studios Investors    Keywords Studios Takeover Rumours

Keywords Studios (KWS) Discussions and Chat

Keywords Studios Forums and Chat

Date Time Title Posts
23/10/202011:53Keywords Studios - Tech for Video Gaming2,796

Add a New Thread

Keywords Studios (KWS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
View all Keywords Studios trades in real-time

Keywords Studios (KWS) Top Chat Posts

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 2,176p.
Keywords Studios Plc has a 4 week average price of 2,072p and a 12 week average price of 2,072p.
The 1 year high share price is 2,314p while the 1 year low share price is currently 1,069p.
There are currently 73,963,867 shares in issue and the average daily traded volume is 202,732 shares. The market capitalisation of Keywords Studios Plc is £1,612,412,300.60.
energeticbacker: A growing amount of research suggests that the financial benefits of ESG investing are as strong as its societal benefits. Investor’s Champion considers how well ESG is playing out for smaller companies on AIM. BOO FDEV DATA HGM KWS
aimingupward2: Very strong again today. I’m wondering whether it’s the prospects of value enhancing acquisitions that is responsible or could it just be that KWS is in someone else’s sights as a takeover target?
paleales: Small-cap spotlight Keywords Studios, the video gaming services company involved in Call of Duty: Black Ops 4 and Assassin's Creed Odyssey, has struck its first deal since raising £100 million in a share placing last month.
steeplejack: A 1 for 10 placing.Not necessarily the most propitious market environment to raise money but the fact that the placing has been done at a not overly large discount emphasises that there's belief in the KWS growth model.Encouraging.
rivaldo: I've sold out over today and last week. As per the latest Edison note, 40% of revenues have been disrupted due to COVID-19. They've heavily reduced their forecasts. For this year to 31/12/20 they now estimate 41c EPS, i.e only around 35p EPS. That's a P/E of 42.... I don't mind paying a premium for a quality business like KWS, but the risk/reward here has swung much too far. I can't see much upside here for a while to come, but I can see substantial downside if H1 trading and numbers in updates come as a surprise to the markets. Of course long-term KWS should be great, and I will hopefully return at some point, but there are many other better opportunities out there without the risk and with more reward. KWS was one of my larger holdings, and has been a great ride from 140p or so. Good luck to all still here.
rivaldo: Yep, good results bang on the mark as expected. Trading nicely in line to the end of February. Since then a balance between increased demand for "many" of KWS' services due to the lockdown, plus "stronger demand from a fuller release schedule", against "some operational disruption" due to COVID-19. Above all, demand for KWS' services is only going to grow, and the lockdown will accelerate that underlying trend.
greenrichard: This their commentary for the Q2 2019 newsletter referred to above. Keywords Studios Plc (“KWS”) Video game publishers have always been notoriously difficult work environments. Companies scale up hiring as they ramp production on a new game. These new hires are subject to a very demanding and high-pressure work environment as there is a tight game deadline. Once the game is released, a large percentage of those hired workers are terminated because they are no longer needed once the game is complete. This boom and bust hiring cycle is inefficient and leads to poor morale. Increasing game complexity in recent years has exacerbated this issue. Game creators now need a small army of highly specialized developers, artists, and project managers to create and distribute a high-profile video game worldwide. It is challenging and inefficient for studios to manage this entirely in-house due to the difficulty of identifying, hiring, and utilizing this small army of talent efficiently. Enter Keyword Studios (“KWS”). This European-based company (headquartered in Ireland, trades on the London stock exchange) is the largest outsourcer of video game production in the world. They have rolled up the industry by buying small studios all over the world that offer various aspects of video game development including art creation, engineering, customer support, audio licensing and development, localization translation, and functional testing. The company now has the in-house capabilities to develop an entire game for their clients if needed (though this has not happened yet). So why is this an interesting business? Well for starters, KWS has the backdrop of an industry growing high-single digits per year for the foreseeable future. I strongly believe the tailwinds for gaming will continue as the technology keeps improving and it is a relatively cheap form of entertainment. Second, while the industry is growing high-single digits, the money spent on outsourcing is growing at an even faster rate as the industry continues to achieve better service and affordability with outsourced providers. Only ~40% of videogame services spend is spent on outsourcers today. Over time, the gaming industry is likely to develop similar to the film industry, which used to have most expenses in-house, but now outsources ~90% of production costs. Third, KWS is the only player with scale in the industry. They work with 23 of the top 25 gaming companies (measured by revenue) and can offer any service with multiple price points and geographies. Lastly, KWS’ strategy is working. In the last five years (2014-2018), the company expanded revenue from 37.3M EUR to 250.8M EUR (572% increase), EBITDA from 5.9M to 40.2M (581%), and earnings per share from 0.07 to 0.29 (314%). As a result, the company’s stock price has increased over 850% over that timeframe. Despite this tremendous historical and likely future growth, KWS is trading for only ~30x forward earnings. I think this is very cheap given the long runway for 20%+ EPS growth. KWS is riding a very powerful trend (outsourcing) within a rapidly growing industry. As the leader in video game outsourcing, KWS is poised to benefit from more cross-selling of services and deeper relationships with their clients over time. Mark Twain famously wrote that “During the gold rush, it’s a good time to be in the pick and shovel business.” KWS is effectively a pick and shovel seller to the videogame industry. They benefit from the industry’s growth, but they have minimal direct exposure to the successes or failures of individual game titles. I believe KWS’ strategy will continue to be a winning formula for shareholders. The company was a material positive contributor to Alta Fox’s Q2 results, but there is still a long runway for KWS to outperform the market.
greenrichard: Found this from an Alta Fox Capital newsletter from October 2019. Keywords Studios PLC (KWS) KWS was the biggest loser in the portfolio in Q3. I will spare the full thesis rehash since I discussed it in the last letter, but the stock declined because of Q3 results, which were deemed disappointing by the market. The company grew revenue 17% organically, but margins declined as the company had to invest heavily in temporary space, pay overtime for employees, and boost recruiting efforts to keep pace with demand. The disappointing margins increased conviction for bears who believe that this company is no more than an outsourced labor company. I too was surprised by the magnitude of the margin decline, but believe the share price has overreacted. While the company does have elements of an outsourced IT player, they also have very valuable relationships with 23 of the top 25 gaming companies in the world and serve an important and growing function for them. KWS also has a history of value creation by rolling up smaller independent studios that benefit from KWS’ centralized sales and support functions. We remain long as I think the company is well positioned for secular video game growth, has a long history of creating value through both organic and inorganic growth, and is selling close to a 3-year trough multiple on forward earnings.
steeplejack: You have an industry knowledge which is more than useful.The key is taking that knowledge and deciding on the appropriate rating.You can only wonder at the majority of brokers (other than Peel Hunt) who have consistently come up with pretty punchy share price targets.Quite apart from what may be described as the ‘specificsR17; ,a rating is determined by sentiment and in this Brexit afflicted U.K. market,sentiment has been against the likes of a KWS in recent months.I suspect it will turn if only because the PEG ratio is screamingly low even if KWS undershoots expectations.Incidentally,understandably,private clients on these BBs suspect that folk that stalk the boards with pessimistic comments (and sometimes have NO share holding)are guilty of a sort of schadenfreude.That’s not to say that such apparent educated insights aren’t of interest (as any considered comment)but they risk being irritating. Broker name View Closing price Old price target New price target Broker change 18-Sep-19 Liberum Capital Hold 1,213.00p - 1,700.00p Reiteration 18-Sep-19 Peel Hunt Limited Sell 1,213.00p 1,310.00p 1,210.00p Reiteration 31-Jul-19 Jefferies Buy 1,663.00p 1,916.00p 1,970.00p Reiteration 12-Jun-19 Peel Hunt Limited Hold 1,748.00p - 1,254.00p Reiteration 23-Apr-19 Peel Hunt Limited Hold 1,492.00p 1,254.00p 1,254.00p Reiteration 08-Apr-19 Berenberg Bank Buy 1,305.00p 1,550.00p 1,600.00p Reiteration 08-Apr-19 Jefferies Buy 1,305.00p - 1,916.00p Reiteration 08-Apr-19 Numis Buy 1,305.00p 1,580.00p 1,580.00p Reiteration 08-Apr-19 Liberum Capital Buy 1,305.00p 1,245.00p 1,415.00p Reiteration 19-Sep-18 Citigroup Buy 1,902.00p - 2,150.00p Reiteration 18-Sep-18 Numis Buy 1,894.00p - 2,420.00p Reiteration 20-Aug-18 Berenberg Bank Buy 1,812.00p 2,060.00p 2,150.00p Reiteration 15-Jun-18 Berenberg Bank Buy 1,866.00p 2,060.00p 2,060.00p
1670127: You are correct in the notion that H2 is bigger, this is mainly around game developers wanting to get their titles ready for Christmas. I would expect KWS revenues and margins to be higher this half as they maximise assets working double shifts. Share price is not based on short term moves. Acquisitions have been small this year compared to previous years, with a bigger starting revenue % growth will drop markedly this year. That's why the valuation is being questioned. I am also aware of some customer challenges from friends working there but doubt they are impacting the share price.
Keywords Studios share price data is direct from the London Stock Exchange
ADVFN Advertorial
Your Recent History
Keywords S..
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20201029 08:43:05