Share Name Share Symbol Market Type Share ISIN Share Description
Micro Focus International Plc LSE:MCRO London Ordinary Share GB00BJ1F4N75 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -2.10 -0.75% 277.80 11,525,645 16:35:06
Bid Price Offer Price High Price Low Price Open Price
275.70 276.30 279.50 269.00 276.90
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Software & Computer Services 2,587.64 -26.35 300.23 0.9 930
Last Trade Time Trade Type Trade Size Trade Price Currency
18:11:23 O 6,148 271.667 GBX

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Date Time Title Posts
19/9/202023:06Micro Focus International8,039
05/11/201914:38Micro Focus (MCRO) One in Focus 1
10/8/201214:41Over valued?4

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Micro Focus Daily Update: Micro Focus International Plc is listed in the Software & Computer Services sector of the London Stock Exchange with ticker MCRO. The last closing price for Micro Focus was 279.90p.
Micro Focus International Plc has a 4 week average price of 269p and a 12 week average price of 269p.
The 1 year high share price is 1,215.40p while the 1 year low share price is currently 269p.
There are currently 334,730,771 shares in issue and the average daily traded volume is 1,910,771 shares. The market capitalisation of Micro Focus International Plc is £929,882,081.84.
alex4141: Agreed with @Clunes100. @sr2day - the senior management team has repeatedly hinted that it is now in the striving mode versus the surviving mode in the beginning of Covid-19 pandemic. So further impairment announcements would be inconsistent with this message:-). Also, there were a few cool tech developments announced by micro on AI and hybrid cloud computing that should retain and attract new customer base following covid-19 accelerated digital transformation. At the current share price level, the take over is certainly more likely than micro dissolution.
clunes100: If there are no more major nasty shocks and we get a stream of good news such as profit and cash generation in the results, reinstatement of a prudent dividend whilst demonstrating a sensible paying down of loans, along with contract wins, cost reductions, director's buys, share buybacks and even takeover bids - we should be in for an interesting ride. The Guru article says it all, the fact is that MCRO starts paying a dividend again, many punters will return and even if the share price were not to respond, where do you put your money to get some sort of decent return? This business has customers, long term contracts and generates significant free cash. There are many businesses that have swallowed a bad acquisition and most eventually recover and often stronger after rationalising their business.
philms: The Sell note from Investors Chronicle was issued on 7 July 2020 when the share price was 401 pence. As the share price has fallen 28 percent since then it was a good call from IC.
29palms: Here you go- Micro Focus (MCRO) was once the UK’s largest public technology company, with a market capitalisation of more than £9bn. For a number of years it enjoyed significant success pursuing a strategy of acquiring legacy software businesses, cutting their costs, cross-selling their products and juicing out cash. However, times have changed and now its market capitalisation stands at just over £1bn. The fall from grace has been spectacular: the company saw more than half of its value erased in just the past two years alone. And we think its share price could have further to fall – an opinion that seems to be shared by a number of hedge funds, with the 3.7 per cent disclosed short positions placing the IT firm among the25 most shorted shares in London. Anyone who has followed Micro Focus in the past few years will not be surprised that the company is struggling to stoke enthusiasm for its prospects. Since 2017 it has been beleaguered by the fallout from its purchase of Hewlett Packard Enterprise’s (US:HPE) software business. Put simply, the integration of HPE’s software into the rest of the business failed. And it has been an extraordinarily expensive failure, with exceptional charges expected to total $960m – of which $245m still loomed at the end of its 2019 financial year. The purchase cost a whopping $8.8bn (£6.7bn), so it is small wonder that Micro Focus’ net debt has more than doubled since 2017. Indeed, the company’s debt is now worth more than three times its market capitalisation and profits cover interest payments by less than two times. What’s more, reliance on licence sales, maintenance work and consulting means it generates much less predictable revenues than a pure software-as-a-service (SaaS) model. In the first half of 2020, when trading was battered by the pandemic, group revenue was down 11.3 per cent as customer projects were delayed. Significantly, the company seems to be losing out to fierce competition from ‘next generation’ software companies. There have been pockets of progress, such as Micro Focus’ efforts to reduce the high level of long-overdue invoices. Days of sales outstanding were brought down from 94 to 68 during the last financial year. This has helped cash conversion. In the first half, cash from operations represented 131.5 per cent of adjusted cash profit, and free cash flow came in at $305m. And its margins are also not derisory, with an operating profit margin of 15.2 per cent over the past 12 months, although this has more than halved over five years. The low value of its equity may attract the attention of a larger US company as an acquisition. There were rumours in April about a public-to-private takeover, which bumped up the Micro Focus’ share price as much as 13 per cent in a single day. There is a lot of debt for any would-be bidder to take on. IC View The short interest in Micro Focus is not hard to explain: the company continues to struggle following its disastrous HP acquisition, which prompted a $922m goodwill impairment charge in its first half; competition is fierce; and debt is mountainous. With no clear signs of recovery on the horizon, sell.
fuji99: If this logic holds, where would be the share price of Sofcat (SCT) when a director sold £1.3 million in shares ? Since then, the share price kept rising to almost new high. Here a handful to cover tax is a drop in the ocean.
philms: The last time Micro Focus closed at below this price was 26 August 2011. It is important that you look at the ADVFN daily share price download as this reflects the information at the time and not the adjusted number that the data providers use to change history based on the numerous Returns of Value that the company has done since 2011. Back in August 2011 the Enterprise Value (Market Cap plus debt less cash) of the Company was $953.3m and the EV/AEBITDA multiple was approximately 6 times. Today the Enterprise Value is $5,536m and the EV/AEBITDA multiple is approximately 4.9 times. The day before the recent interim results on 6 July the EV was $6,137m and the EV/AEBITDA multiple was 5.4. The one surprise in the results from what was pre-announced was the Goodwill write down, but this is non cash item. Management will have done an extensive series of meetings with Institutional Investors and clearly they have not been convincing in those meetings about their plans for the business. Pre-2011 the business traded at around 7 times EV/AEBTIDA which in today's terms would mean a share price of 877 pence. Pre-Attachmate transaction in Sept 2014 the rating had risen to 10.5 times through consistent meeting of expectations. A rating at that level today would imply a share price of 1830 pence. This is the risk reward of a geared company for equity holders. The cash flow of the company is more than capable of servicing the debt and they won't meed to refinance the 2024 debt until 2023 which is the last year of managements 3 year plan. What is really needed is a management team that have the courage of their convictions to execute their plan and deliver value to shareholders.
kenmitch: Peppy If you really are new to a share like MCRO and perhaps to investing in general, then beware reading bulletin board posts. A lot of those posting on many shares on ADVFN are clueless. There are exceptions and a good guide is the more rubbish posts per share per day the more likely the share is rubbish too. When there are just a few posts on a share and those showing obvious knowledge and understanding by the few posters on it, then bb posts might be helpful. But there are far better ways to get clued up on investing. Trusting bb posters is the dangerous way. A MUST is at a bare minimum to read the latest trading updates and results statements from the Companies themselves. Try doing that for MICROFOCUS. Recent results and updates have disappointed and hence the big fall in the share price. Is now a good time to buy? Jury is out on that, and bb posters don’t know whether there is more bad news to come or whether their next update will show real signs of MCRO turning the corner. That could be the time to buy a bombed out share; on the first indications that things are looking up.
billwave: Agreed, and given the resilience of the share price at this level against the size of the pot now being used to pull the share price down it points to the likliehood of some entity building a considerable holding on the cheap? any ideas where the next major holdings increase RNS will come from?
alex4141: Gents, very insightful analytics on micro from seekingalpha - the numbers speak for themselves hTTps:// “At close of market on 06/12/2020, Micro Focus International traded at a share price of $5.69 with a trailing price-to-earnings ratio of 1.37 and a forward P/E of 4.04, based on trailing earnings-per-share of $4.15 and projected earnings-per-share of $1.41. Both the trailing P/E and the forward P/E are lower than the five-year average P/E of 21.44. Both metrics are lower than the data processing, hosting, and related services sub-sector average of 46.19, and both metrics are also lower than the S&P 500 (SPY) average of 19.52. By most metrics, Micro Focus International appears to be trading at a substantial discount to fair value.” “ Given the likelihood that COVID-19 will be a short-term event, it is likely that Micro Focus International will see its share price rally. The firm is strong enough to see a bounce from its current share price of $5.69 with a P/E of 1.37. It may even benefit from a possible takeover such as the rumored one that Canadian firm Open Text (OTEX) floated late last year, which caused a 6.8% boost to its share price. Nothing came of it, but the share price rise is the point. In summary, the stock is a value play at present.”
fjgooner: To make some easy money, I'm re-shorting this poor stock MCRO. I made a fortune on it earlier this month. All brokers have been massively cutting share price target forecasts this month. A note today from UBS says "Revenue Growth Continues To Thwart Micro Focus". Micro Focus downgraded to ‘neutral’; as UBS predicts ‘long and difficult road ahead’ The bank said it saw “no near-term catalyst” for the share price as the troubled software group continued its restructuring efforts Credit Suisse cut its price target to 630p and put an underperform investment rating on Micro Focus. That seems generous given the recent dire results and this week's downgrades by Moody's and S&P as above. Jefferies International, Barclays Capital and JP Morgan Cazenove have all also slashed their price targets during the last fortnight. Current price around 800p. My next target for MCRO is 500p. Ultimately, 0p is possible in my view. A massive short opportunity.
Micro Focus share price data is direct from the London Stock Exchange
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