Cenkos Securities (CNKS)

Business description

Cenkos is an independent, specialist, institutional securities group, focused on growth companies and investment funds. Its principal activities are corporate broking and advisory and institutional equities.

Share price chart

Share chart

Stock data

Market cap.£135.5m
Last close213.500p
High / Low (52 weeks)232.5p / 91.0p
Stock market listingLN
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual(0.7)15.4134.6
Relative *(3)16.1122.8

* % Relative to local index

Other companies in sector Show

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (p) P/E (x) P/CF (x)
2012A 43.2 6.8 7.0 7.43 28.7 9.1
2013A 51.4 10.9 10.7 14.19 15.0 9.7
2014E N/A N/A N/A N/A N/A N/A
2015E N/A N/A N/A N/A N/A N/A

Last updated on 21/08/2014

Latest research

Daily comment

Institutional Comment | Financials | 23/06/2014

Galloping ahead in positive markets

Update | Financials | 17/04/2014

Daily comment

Institutional Comment | Financials | 26/03/2014

A thoroughbred broker

Initiation | Financials | 14/10/2013

Specialism pays

Outlook | Financials | 30/09/2011

Investment summary

Cenkos differentiates itself by its meritocratic remuneration policy leading to a flexible cost structure; staff ownership of risk; focus on diversified, profitable niches; and returns of capital to its owners (including 84.5p in dividends since float in 2006). The quality of staff that has delivered outperformance in tough conditions bodes well if there is a sustained market improvement. Cenkos was the sole co-ordinator and book runner for the recent AA float and on 23 June it announced its revenues and pre-tax profits for H114 were expected to exceed FY13's and to be significantly higher than market expectations for FY14. Our estimates are under review for upward revision.

Last updated on 01/09/2014

Industry outlook

The most recent LSE market announcements indicate a substantial improvement in near-term trading as well as much increased capital raising. The reported deals on Cenkos's website are well ahead of 2013 and the pipeline commentary is very positive. If current conditions continue, we expect consensus upgrades.

Last updated on 01/09/2014

Key management

Gerry Aherne, Chairman
Jim Durkin, CEO
Mike Chilton, FD

Company address

6.7.8 Tokenhouse Yard,
London
EC2R 7A
United Kingdom
View website