Broker snap: 'Choppy waters ahead' for recruiters, says Investec
8th Dec 2011 09:50
After two recent updates from recruiters confirmed a marked slowdown in the fourth quarter, Investec has reassessed its forecasts for the sector. The recruitment sector - which Investec highlights as "very economically cyclical" with "little visibility" - is expected to be held back by an recession
Read moreThursday broker round-up - UPDATE
8th Dec 2011 08:45
Tesco: Nomura keeps buy rating and 500p target. Tesco: Evolution Securities keeps reduce stance and 350p target. Tesco: Panmure Gordon keeps buy rating and 500p target. Standard Chartered: Nomura maintains buy recommendation and 1,800p target. PZ Cussons: Panmure Gordon cuts target from 380p to
Read moreBroker snap: Cautious outlook at Robert Walters, says Credit Suisse
12th Oct 2011 12:23
Credit Suisse has maintained its neutral rating and 250p target on recruitment firm Robert Walters, but says the outlook is more cautious following the firm's third quarter statement on Tuesday. Gross profit growth (at constant currency) slowed from 21% in the second quarter to just 8% in the third
Read moreBroker snap: Investec cuts target at Robert Walters
11th Oct 2011 09:58
While Robert Walters's third quarter profits were well ahead of last year, growth has slowed from preceding three months, causing Investec to scale back its target price by 15p. Gross profits rose by 13% in the third quarter to £48m, compared to a growth of 24% seen in the second quarter. Neverthe
Read moreNet fee income growth slows at Robert Walters
11th Oct 2011 08:14
Global white-collar recruitment firm Robert Walters said conditions in the UK remain challenging, echoing comments made Monday by its competitor Michael Page. Net fee income (NFI) for the group rose 13%, or 8% on a constant currency (CC) basis, in the third quarter of 2011 to £48.0m from £42.5m a y
Read moreUPDATE: Tuesday broker round-up
11th Oct 2011 08:03
Wolseley: RBS cuts target to 2,378p from 2,420p, stays at buy. Premier Oil: UBS upgrades from neutral to buy, cuts target from 445p to 430p. British Land: Alpha value downgrades to 'reduce' from 'add'. Whitbread: Morgan Stanley upgrades to 'overweight' from 'neutral'. Vodafone: Investec reiter
Read moreTuesday preview: Robert Walters has work to do
10th Oct 2011 17:54
Hot on the heels of a disappointing update from recruiter Michael Page comes a trading update on Tuesday from fellow white-collar recruitment specialist Robert Walters. The company's shares have been heading south at a rate of knots since the interim results were announced on August 4th. Like its p
Read moreWeek Ahead: Recruiters, ASOS
7th Oct 2011 11:30
Recruiter Hays Group updated the market earlier this week and next week it is the turn of sector peers Michael Page and Robert Walters. Michael Page saw its share price tank in August when it warned of a slow-down in profit growth in the banking sector, and things are unlikely to have improved in t
Read moreLancashire president continues buying
23rd Aug 2011 15:37
Neil McConachie, president of Lancashire Holdings, has upped his stake in the FTSE 250-listed speciality insurance group, spending more than £230,000. Despite its name, Lancashire underwrites from offices in London and Bermuda and has a marketing operation in Dubai. Its main business areas are avia
Read moreHis n' hers shares for Robert Walters and wife
16th Aug 2011 09:51
Robert Walters, chief executive of the recruitment company he named after himself, and his wife have together spent about £200,000 on shares in the firm. They purchased a combined total of 81,630 shares at 245p each. The transaction brings Robert Walters' total interest to 2,181,480 shares, equi
Read moreOverseas demand helps Robert Walters
4th Aug 2011 11:49
Robert Walters reported strong half yearly results and hiked its interim dividend as the white-collar recruitment group's stellar performance in UK, France and Australia offset slight weakness in New York. For the six months ended 30 June, net fee income rose 23% to £89.1m, up from £72.3m in the
Read moreFTSE 250 movers: Dunelm shines in struggling market
7th Jul 2011 16:42
The FTSE 250 regained its momentum with financial services sector advancing higher after the Bank of England maintained record low interest rates for the 28th consecutive month. Meanwhile, on the earnings front, out-of-town home furninshing retailer Dunelm posted like-for-like sales growth despite o
Read moreThursday tips round-up: Robert Wiseman, SABMiller, Balfour Beatty
7th Jul 2011 06:38
Robert Wiseman, the Scottish dairy group, said its business in the 13 weeks to the beginning of this month was in line with management's expectations. We were particularly encouraged by news that the company's recent investment in refrigeration and other equipment at its Manchester dairy had led to
Read moreBroker tips: IAG, Robert Wiseman, Robert Walters
6th Jul 2011 13:47
Analysts at AlphaValue downgraded IAG from overweight to underweight with a price target of €3, following the release of the airline's June passenger statistics. IAG saw a 2.3% annual increase in its passenger load factor in June to 81.7%. Also, traffic measured in revenue passenger kilometres ros
Read moreBroker snap: Robert Walters shares just the job
6th Jul 2011 13:45
The second quarter update from white-collar recruiter Robert Walters was an encouraging one, in the view of Merchant Securities, which remains bullish on the stock. All regions posted year-on-year (y-o-y) growth with Europe up 31% in constant currency, though the UK was "as expected, pretty flat al
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