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.£61.8m
Last close109.00p
High / Low (52 weeks)122.0p / 69.0p
Stock market listingLN
Forecast net cash (£m)28.1
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual7.39927.49
Relative *3.266.5217.13

* % Relative to local index

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Company news

Cenkos Securities chief executive Jim Durkin to stand down

Fri, 12 May 2017 16:32:51 GMT

Profits tumble at Cenkos Securities as fundraisings dry up

Fri, 31 Mar 2017 08:00:31 GMT

Cenkos Securities names new CEO

Wed, 05 Jul 2017 06:35:03 GMT

'Brexit' uncertainty almost wipes out profits at Cenkos Securities

Wed, 21 Sep 2016 09:09:59 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)
2015A 76.5 20.0 19.9 27.2 4.0 4.0
2016A 43.7 4.5 4.4 4.7 23.2 N/A
2017E 58.0 8.6 8.4 12.4 8.8 6.5
2018E N/A N/A N/A N/A N/A N/A

Last updated on 06/10/2017

Latest research

Making hay when the sun shines

Update | Financials | 06/10/2017

A flexible model that rewards innovation

Update | Financials | 03/04/2017

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

Cenkos Securities’ H117 result was strong with a pre-tax profit increase of over 150% bolstered by the Eddie Stobart IPO, which provided further evidence of the company’s ability to complete larger transactions as well as a flow of smaller deals. The second half has started well and, subject to market conditions, the pipeline is reported to be healthy. Our FY17 earnings estimate has been increased by nearly 11%. Revenue and profit are subject to market fluctuations but the business model of contained fixed costs and high variable compensation mitigates the impact of this. The valuation both in terms of P/E and yield appears cautious.

Last updated on 06/10/2017

Industry outlook

Economic and political uncertainties remain a feature, although the FTSE All-Share Index remains in modestly positive territory ytd. CNKS has described its pipeline as encouraging and acted as Nomad and sole broker on the April flotation of Eddie Stobart, raising £380m with a market valuation of £573m. Other recent transactions include fund-raisings for Flow Group, 1pm, Plastics Capital and UK Oil & Gas. H117 results are due to be released at the end of September.

Last updated on 03/10/2017

Key management

Gerry Aherne, Chairman
Anthony Hotson, CEO
Philip Anderson, FD

Company address

6.7.8 Tokenhouse Yard,
London
EC2R 7A
United Kingdom
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