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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Robert Walters Plc | RWA | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -2.00 | -0.68% | 292.00 | 13:55:50 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 294.00 | 287.00 | 310.00 | 294.00 |
| Industry Sector |
|---|
| SUPPORT SERVICES |
| Top Posts |
|---|
Posted at 24/10/2024 18:27 by hopesprings Robert Walters, the £266 million recruiter, may fly under the radar of most investors given its relatively small size. But eagle-eyed income seekers may have spotted its 6 per cent dividend yield.The company, which specialises in hiring for the legal, accountancy and technology sectors, has been struggling with a weak hiring market. Its most recent quarter was rough, with net fee income down 14 per cent year-on-year, and no signs of green shoots of a recovery. Within that, Asia Pacific was down 12 per cent at constant currency, Europe down 13 per cent and the UK — with uncertainty around employment legislation and fiscal changes ahead of the budget next week — performing the worst, down 19 per cent. The recruiter has hinted it does not expect a revival in hiring until at least next year, mirroring recent comments by its London-listed rivals Hays and Page Group. As such the business has been slimming down, with headcount down to 3,466 from 4,200 a year ago. For now the balance sheet looks strong enough to get the company through the remainder of the downturn, with £50 million of net cash excluding lease liabilities. Analysts at the broker Panmure Liberum expect it to end the year at around £60 million. On average City analysts expect the dividend to land at 23.79p per share for the year, up only marginally from 23.5p last year, although investors looking for reliable long-term income should note that this payout is not covered by earnings of free cash flow. The stock trades at an enterprise value to an expected cash profit ratio of 14.1, largely in line with Hays and Page Group, which trade at multiples of 13.7 and 15.3 respectively. It is certainly the most generous dividend payer, with a forecast yield of 6.7 per cent over the next 12 months, compared with the (still chunky) 4.8 per cent at Page Group and 3.8 per cent at Hays. But given the high degree of uncertainty around the timing of a recovery in the hiring market, and the lack of earnings cover on cash payouts, the shares look fairly priced. Advice Hold Why Uncertainty in hiring market |
Posted at 10/7/2022 21:55 by melloteam Just to let shareholders and prospective investors know that RWA will be discussed by the BASH (Buy, Avoid, Sell, Hold) panel on MelloMonday on Monday 11th July at 5pm.The programme for the evening is as follows: 5pm Welcome and Company presentation by Zoo Digital 5:45pm Michael Taylor: Is it better to be a trader than an investor in the current market? 6pm Company presentation by Manolete 6:40pm Mark Simpson: A portfolio of personality & style 7pm Company presentation by ECP 7:40pm Mello BLISS Competition Update 7:50pm Mello BASH There will be over 500 investors attending and these are very popular shows with company presentations, fund manager and investor interviews as well as panel sessions. Tickets are still available and if you would like one at half price then enter the code MMTADVFN50. |
Posted at 11/10/2021 15:08 by davidosh Just to let shareholders and prospective investors know that Cerillion, Robert Walters and FinnCap will be featured on BASH session at the Mello Monday webinar event tonight, Monday 11th October at 6:00pm-9:30pm. There will be over 400 investors attending and these are very popular shows with company presentations, fund manager and investor interviews, and panel sessions.Tickets are still available and if you would like one at half price then enter the code MMTADVFN50. The Programme is as follows: 6.00 pm Mello welcome and news 6.05 pm Company presentation by Inspiration Healthcare 6.35 pm David Stredder interviews David Cicurel, CEO of Judges Scientific 7.10 pm Company presentation by Frenkel Topping 7.50 pm Michael Taylor book review 8.00 pm Company presentation by eEnergy 8.30 pm Mello BASH |
Posted at 12/7/2019 09:04 by dab26 Hi f15jcm,Not sure about the downside when a lot of investors, understandably, seem more skittish than usual, but would certainly agree this currently looks cheap on the historic metrics and potentially interesting given the Federal Reserve and ECB look set to move to an easing bias in the foreseeable future. Regards. |
Posted at 21/1/2019 11:27 by randomambler Wow this is a quiet board. I guess that RWA is totally off the radar for most investors despite its progress since 2008? Anyway I've put together a fairly lengthy analysis of Robert Walters in order to identify the investment case: Hope this proves interesting for somebody! |
Posted at 02/10/2018 12:51 by hawaly Compnews1Only that BREXIT is inducing a wider UK market malaise - perhaps many smaller investors, those with the opportunity to withdraw, to wait and see, are pulling funds out of the market until something more tangible transpires - mid November seems crucial. Rational actors take the back seats at times. Just my opinion..... EDIT: Having said that, the update due next week may provide a boost. GLA :-) |
Posted at 04/8/2015 11:52 by interceptor2 "But just feel that they might consolidate at this level for a while."How wrong could I be, but great to see new highs for holders here. Well done. Just to make myself feel better, I will use a few cliches. Always sell too early. Never possible to sell at the top. Always leave something for next investors. etc etc :o) |
Posted at 07/4/2013 09:54 by mikail4 RRRguys, RRR will announce positive news on greenland deal confirmation which will value RRR more than triple current mc. The announcement will come anytime this week, before the investor show which RRR is taking part on 13th April. Not to mention, some sold in last few weeks for capital gains tax reason, which means they will be buying back first thing this week. so grab a bargain in RRR or have it in your watchlist and ready to pile in as RRR can move easily from sub 1p to 5p. see 5 years chart! |
Posted at 19/1/2012 10:01 by abcd1234 ....................Stock to Watch: Robert Walters Fri, 13/01/2012 - 00:00 At 177p the FTSE Small Cap shares in international professional recruitment group Robert Walters (RWA) are worth watching this year, now the price is well down on the chart - amid cautionary noises from the recruitment industry. Robert Walters tends to get traded both ways and a relatively thin market applies. Prospects will improve in due course and Walters' shares recover, it is just a matter of timing. Meanwhile the risk/reward profile looks interesting for long-term investors. RWA has halved from levels near 350p in the first half of last year - back to where it was trading in the second half of 2009. Showing how recruiters can get hit by recession, normalised pre-tax profit plunged from £18.2 million to £1.6 million in 2009, yet recovered strongly to £13.2 million in 2010. This is why RWA's forward price-earnings multiple initially appears quite high, in the mid-teens, because the market is confident the business can in future years do better than the outlook for 2012. A 6 January update cited "weaker client and candidate confidence... we therefore enter 2012 with caution", however the shares have edged up from 162p a few days before. By way of comparison, Michael Page (MPI) said in an 11 January review for 2011 that its Asia Pacific segment grew by 23.3% like-for-like in the fourth quarter of 2011. Asia, however, saw an overall 28% growth rate "slow towards the end of the quarter, as international clients in particular became more cautious, deferring or reducing their recruitment needs." This is the issue investors worry may spread. But doomsters are keeping a low profile as 2012 starts, with positive news from the US economy and as the eurozone muddles along; the predicted debacle is at least deferred. This helps explain why Page's FTSE 250 shares have jumped from about 350p to 375p after the update. More liquid than Walters' shares, they are likely to gain more attention first, although the key macroeconomic issues affecting recruiters are quite similar. If you believe in eurozone disorder exporting uncertainty to the rest of the world, and companies postponing decisions, you would avoid cyclicals like recruiters for the time being. Yet it was just such a fear that depressed share prices in late summer 2011 and to an extent remains factored in. So any easing of fears can improve cyclical shares even if their commercial outlook is little changed. Walters has also been doing well in France and Germany, despite the economic uncertainty across Europe. Net fee income during the final quarter of 2011 rose best of all in continental Europe, up 24% to £10.5 million, whereas the UK barely kept pace with inflation, up just 3% to £12.0 million. Overall, the group achieved 14% growth in net fee income, or 18% for 2011 as a whole - 15% in constant currency terms, anyway very good progress. The company looks to be evolving well internationally, it's just that sentiment has been hit by another bout of uncertainty. In the first half of last year, a sixth office was opened in Australia, a fourth in China and the first in Vietnam. New offices were planned for Indonesia, Taiwan and Germany for the second half of 2011 and it will be interesting to track how all this is coming together. With net fee income split 71% to permanent and 29% to contract professionals, the group should not be too exposed to the vagaries of short-term employment - which tends to be exposed most of all in a downturn. Last August's interims cited China and Thailand both more than doubling net fee income - easier done from a relatively low base, however Walters is positioning itself astutely for long-term growth. The board has also ensured a dividend policy, albeit a flat payout of 4.75p a share over 2008-10 which is projected to rise to about 5.2p for 2011 and possibly 5.3p in 2012, although analysts differ. The 2011 interim dividend rose by 5% to 1.47p, so things really depend on the outlook by prelims in early March. Anyway it implies an approximate 3% yield, if supported by balance sheet cash than cash flow. Note eight to the interim cash flow statement shows that after £10.1 million operating cash flow, an £11.4 million increase in receivables left this level of cash flow £2.2 million negative. Additionally there was nearly £4 million investment and a net £9.5 million decrease in cash - although the period had begun with £31.9 million cash anyway, so the cash comparative edged up. Anyway the dynamics need to weigh more to net cash generation to see much expansion in the dividend; and anyway most investors may approach this share for capital growth. The mid-2011 balance sheet looked well able to withstand a downturn. Debt involves just £9.9 million drawn down under a three-year, £20 million facility, with net finance costs of £148,000 versus £7.2 million operating profit in the first half. Unlike many "people businesses" this one does not have a lot of capitalised intangibles/goodwill Although visibility is notoriously low for a recruiter like this, Walters is nevertheless weighted to more dynamic countries - implying that the inevitable weak periods for its shares, being cyclical, should offer good opportunities for long-term investors to accumulate. My essential reading of the share is reflected by the top two directors' trading, if prematurely. Last August the chief operating officer added 21,455 shares at 233p, to own over 1.6 million; also Robert Walters himself, as chief executive, bought 61,223 shares at 245p jointly with his wife, and she bought an additional 20,407 shares, also at 245p. Robert Walters owns nearly 2.2 million shares so should be incentivised for growth and to limit downside. .................... |
Posted at 26/5/2011 09:47 by paleje Independent:-Robert Walters faced a stinging shareholder revolt at its annual meeting yesterday, with investors rejecting pay policies at the recruitment group. Of the votes cast, nearly 44 per cent were against the remuneration report. Another 16 per cent were withheld. The revolt came after the remuneration committee decided to award bonuses of more than the set limit of 100 per cent of salary for executive directors, the Independent reports. Sign good times are coming when the directors start awarding themselves obscene rises. They quickly forget the bad times, good job shareholders don't:) |
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