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Amid a phase of slight recovery for the London Stock Exchange market, following a prolonged period of the slump in the entire market, which was primarily due to the covid-19 outbreak, two companies announced their earnings updates and the final results. Regional REIT Limited and EnQuest Plc reported their results, after the moratorium period, that was demanded by the Financial Conduct Authority, for deferring the announcement of all results, got over.
Regional REIT Ltd
Regional REIT Ltd (LON:RGL) is the UK based Real Estate Investment Trust company that is engaged in the provision of Residential, Retail as well as Commercial and Offices spaces within the country.
RGL Final Results Highlights
For the period ended 31st December 2019, the company highlighted that the EPRA Total return stood at 43 per cent since its Initial Public Offering in November 2015, representing 9 per cent annualised returns for shareholders. It was also highlighted that for FY 2019, Rental and property income remained stable at £75.6 million in comparison with Rental and Property Income in 2018, which was reported to be at £74.0 million. The company also reported that the EPRA adjusted EPS for the period was at GBX 7.8 per share, a marginal increase in comparison with the EPRA adjusted EPS of 2018 was at GBX 7.5 per share. The EPRA adjusted EPS, including realised disposal proceeds, were reported to be at GBX 8.2 per share compared to GBX 13.7 per share in 2018. The company highlighted that as on 31st December 2019, EPRA NAV per share was at GBX 112.7 per share, as opposed to GBX 115.5 per share in 2018. The Group’s cost of debt declined to 3.5 per cent in 2019, a year on year decline as compared to the 2018 cost of debt which was reported to be at 3.8 per cent. The company also highlighted that the total dividend increased by around 2.5 per cent year on year to GBX 8.25 per share, as opposed to the dividend in 2018 at GBX 8.05 per share.
RGL Share Price Performance
(Source: Thomson Reuters, on 09-04-2020 after the closing of the London Stock Exchange Market)1
At the time of close of market on 9th April 2020, Regional REIT Limited’s stock was at a price of GBX 85.70 on the London Stock Exchange market, an increase of around 4.77 per cent or GBX 3.90 in value, as compared to the price of the company’s stock at the time of the close of the market on the previous trading day. The company’s market capitalisation (M-Cap), at the time of reporting, has been reported to be at a value of GBP 352.97 million in reference to the current stock price.
In the previous one year, since April 11, 2019, when the share was trading at a price of GBX 105.80 at the time of market closure, the Regional REIT Limited share had yielded a negative return of around 19.00 per cent in value. The share has also yielded a negative return of around 17.60 per cent in value since the price of the company’s stock stood at GBX 104.00 at time of the close of the markets on October 11, 2019 in the previous six months. The share of the company also yielded a negative return of approximately 15.65 per cent in value in the previous month since market closure on March 11, 2020, when the share price was reported to be GBX 101.60 per share. The company’s 52-week price range has been GBX 49.78 (the 52-week low price) and GBX 122.40 (the 52-week high price).
The Annual Dividend of the company has been reported to be at GBX 8.25 per share, while the annual dividend yield, at the time of writing, was reported to be at 9.62 per cent. The last ex-dividend of the company’s stock was on March 05, 2020, while the dividend was paid out on April 09, 2020.
The firm's share beta stood at a value of 0.69 when this report was being written. This points to the fact that the movement of the share price of the company is less volatile compared to the value of the comparative benchmark index.
EnQuest Plc
EnQuest Plc (LON:ENQ) is an upstream Oil and Gas Producing company operating from the UK Continental Shelf and Malaysia and is engaged in the extraction and production of Oil and Natural Gas.
ENQ Final Results Highlights
The company, on 9th April 2020, announced its full-year results for the period ending 31st December 2019. It was reported that during the period, the total Group production averaged around 68,606 Barrels of Oil Equivalent per Day (BOEPD) in 2019, an increase of approximately 23.7 per cent as compared to FY 2018. It was also highlighted that the Revenue for the period stood at US $1,711.8 million as compared to US $1,201.0 million in 2018, while the EBITDA stood at a value of US $1,006.5 million as compared to US $716.3 million in FY 2018. It was also highlighted that the Cash generated from operations was at US $994.6 million in FY 2019, a year on year increase, compared to the 2018 cash generation of US $788.6 million, reflecting a higher EBITDA. In terms of its post reporting period performance, the company highlighted that the Year to date production performance remained decent with the Group's day-to-day operations continuing without being materially affected by Covid-19.
ENQ Share Price Performance
(Source: Thomson Reuters, on 09-04-2020 after the closing of the London Stock Exchange Market)
At the time of close of market on 9th April 2020, EnQuest Plc’s stock was at a price of GBX 13.24 on the London Stock Exchange market, an increase of around 18.43 per cent or GBX 2.06 in value, as compared to the price of the company’s stock at the time of the close of the market on the previous trading day. The company’s market capitalisation (M-Cap), at the time of reporting, has been stated to be at a value of GBP 189.59 million in reference to the current stock price.
In the previous one year, since April 11, 2019, when the share was trading at a price of GBX 21.68 at the time of market closure, the EnQuest Plc share had yielded a negative return of around 38.93 per cent in value. The share has also yielded a negative return of around 29.95 per cent in value since the price of the company’s stock stood at GBX 18.90 at time of the close of the markets on October 11, 2019 in the previous six months. The share of the company though yielded a positive return of approximately 6.52 per cent in value in the previous month since market close on March 11, 2020, when the share price was reported to be GBX 12.43 per share. The company’s 52-week price range has been GBX 7.07 (the 52-week low price) and GBX 30.00 (the 52-week high price).
The firm's share beta stood at a value of 2.75 when this report was being written. This points to the fact that the movement of the share price of the company is more than twice as volatile as compared to the value of the comparative benchmark index.
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