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Prices & Quotes - UK Markets - IWG (IWG)

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Share Price:
Down 313.60p
Change Today:
-5.20p
Market Cap:
3,159.11m

Berenberg doubles target price on IWG

By Iain Gilbert

Date: Wednesday 12 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg doubled their target price on serviced offices provider IWG from 130p to 260p on Wednesday on the back of the group's first-half results, released earlier in August.
Berenberg said IWG's first-half results, released on 4 August, gave the first full disclosure of the firm's performance during the Covid-19 pandemic, stating the results were "difficult to follow".

However, the German bank said a call with management, rather than the results themselves, had generated the most interest from investors, with particular attention being paid to comments that implied over 185m of savings should come through in 2021's numbers and the revelation that the firm was "in touching distance" of selling at least a portion of its US business to a franchise partner earlier this year.

While Berenberg said it remained "concerned" over the combination of an uncertain recovery and a relatively high valuation, the analysts acknowledged that there were "plenty of reasons" why investors will remain optimistic on the stock through the remainder of the year.

"While we remain more prudent in our forecasts, the savings target shows how volatile IWG's earnings can be and that a recovery could come more quickly than consensus expects," said Berenberg, which stood by its 'hold' rating on the stock.

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IWG Market Data

Currency UK Pounds
Price 313.60p
Change Today -5.20p
52 Week High 383.60p
52 Week Low 222.60p
Volume 1,222,596
Shares Issued 1,007.37m
Market Cap 3,159.11m

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 1
Neutral 4
Sell 0
Strong Sell 0
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

IWG Dividends

  Latest Previous
  Interim Final
Ex-Div 05-Sep-19 25-Apr-19
Paid 04-Oct-19 24-May-19
Amount 2.15p 4.35p

Trades for 30-Jul-2021

Time Volume / Share Price
16:35 609,857 @ 313.60p
16:29 323 @ 315.50p
16:29 182 @ 315.50p
16:29 129 @ 315.50p
16:29 425 @ 315.50p

IWG Key Personnel

Chair Douglas Sutherland
CEO Mark Dixon
CFO Glyn Hughes