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Prices & Quotes - UK Markets - 888 Holdings (888)

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Share Price:
Up 415.20p
Change Today:
17.20p
Market Cap:
1,545.42m
Sector:
Travel & Leisure

Berenberg says US opportunity in 888 undervalued

By Alexander Bueso

Date: Wednesday 08 Sep 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg reiterated their 'buy' recommendation for shares of 888 Holdings, arguing that prospects for the online gambling group in the US remained undervalued.
That was especially so following 888's decision to launch its Sports Illustrated sportsbook in Colorado, which they said improved the two key core competencies needed to succeed in that market - brand power and access to customers.

Hence, they raised their expectations for market share in 50% of the US from 3% to 4%.

In turn, that raised the value per share attributable to the US opportunity from 60.0p to 70.0p.

As well, on the back of the company's improved guidance, they raised their estimates for 888's revenues and earnings before interest, taxes, depreciation and amortisation in 2021 by approximately 3% and 2.6% for the the 2021 financial year, respectively.

For subsequent years, they raised their EBITDA estimates by 2.6%.

Berenberg also labelled the company's latest interims "robust"m highlighting its "strong" top-line growth and focus on product and technology.

The broker kept its recommendation for the shares at 'buy' while bumping up its target price from 460.0p to 470.0p.



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888 Holdings Market Data

Currency UK Pounds
Price 415.20p
Change Today 17.20p
52 Week High 478.00p
52 Week Low 251.00p
Volume 649,055
Shares Issued 372.21m
Market Cap 1,545.42m
Beta 0.01

Performance Indicators

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What The Brokers Say

Strong Buy 7
Buy 0
Neutral 0
Sell 0
Strong Sell 0
Total 7
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

888 Holdings Dividends

  Latest Previous
  Interim Final
Ex-Div 16-Sep-21 25-Mar-21
Paid 13-Oct-21 24-May-21
Amount 4.50¢ 10.40¢

Trades for 18-Oct-2021

Time Volume / Share Price
14:52 100 @ 414.80p
14:52 311 @ 415.20p
14:52 220 @ 415.20p
14:52 91 @ 415.20p
14:51 239 @ 415.68p

888 Holdings Key Personnel

CEO Itai Pazner
CFO Yariv Dafna