Cenkos Securities (CNKS)

Business description

Cenkos is a specialist, UK institutional stockbroker, focused on growth companies and investment funds. Its principal activities are primary and secondary fund raising, corporate advisory, research, trade execution and market making activities.

Stock data

Market cap.£40.8m
Last close72.00p
High / Low (52 weeks)176.0p / 72.0p
Stock market listingLN
Forecast net cash (£m)24.1
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual(9.4)(41.7)(59.4)
Relative *(7.6)(41.6)(61.2)

* % Relative to local index

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Company news

What's Propelling Cenkos Securities plc to Reach 52-Week Low?

Tue, 29 Nov 2016 17:56:52 GMT

Cenkos Securities plc (CNKS.L)

Sat, 29 Mar 2014 07:44:48 GMT

U.K. Regulator Fines Cenkos $690000 Over Scandal-Laden Quindell

Tue, 09 Aug 2016 10:18:45 GMT

What's Cenkos Securities plc Upside After Today's Huge Increase?

Fri, 11 Nov 2016 20:54:12 GMT

Cenkos Securities faces potential fine over advice to former Quindell firm

Wed, 27 Jul 2016 11:13:21 GMT

Y/E Dec Revenue (£m) EBITDA (£m) PBT (£m) EPS (fd) (p) P/E (x) P/CF (x)
2014A 88.5 27.2 27.0 35.2 2.0 1.8
2015A 76.5 20.0 19.9 27.2 2.6 2.6
2016E 46.0 4.2 4.1 4.8 15.0 8.2
2017E N/A N/A N/A N/A N/A N/A

Last updated on 23/11/2016

Latest research

Transparent, entrepreneurial business model

Update | Financials | 26/05/2016

Daily comment

Institutional Comment | Financials | 30/03/2015

Daily comment

Institutional Comment | Financials | 14/10/2014

AA super-charged

Outlook | Financials | 13/10/2014

Daily Comment

Institutional Comment | Financials | 18/09/2014

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

The background for corporate transactions and equity issuance this year has been more challenging than last with LSE AIM and main market issuance down 20% and 37% respectively to end October. In September CNKS reported H116 profits of £1.7m vs £18.6m for H115, a period that benefited from the (£1bn) BCA Marketplace fundraising. The total raised for clients was £529m compared with over £2bn. Costs also fell (by 60%), underlining the flexible nature of the cost base. The first half bore costs relating to the FCA investigation into Cenkos’ historical advisory work for the former Quindell that is now concluded. A number of significant fundraisings fell into the second half including the recent £350m IPO of Civitas Social Housing. This, together with a healthy pipeline, means the second half should be stronger. Given market conditions, we have trimmed our revenue assumption modestly to £46m (vs £48m) giving FY16e PBT of £4.1m (vs £5m).

Last updated on 29/11/2016

Industry outlook

Markets have taken the US election result in their stride but sentiment in the UK may still wax and wane as news emerges on the nature of Brexit. Positively, as the picture clarifies entrepreneurial companies are increasingly likely to take opportunities generating renewed deal flow.

Last updated on 29/11/2016

Key management

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

Company address

6.7.8 Tokenhouse Yard,
London
EC2R 7A
United Kingdom
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