viewRWS Holdings

RWS shares advance as Barclays initiates coverage with 'overweight' rating

The translation and intellectual property firm reported a 43% jump in 2018 profit and expects another record year in 2019

intellectual property
Shares in the translation and intellectual property firm rose 3.4% in morning trading

RWS Holdings PLC (LON:RWS) shares moved higher as Barclays initiated coverage of the stock with an ‘overweight’ rating and target price of 560p.

Barclays said: “We think the combination of capital-light businesses (10x capital turnover) with high and defensible margins (~22%) in end-markets offering long-term mid-single-digit top-line growth makes RWS an attractive investment and justifies its premium valuation (22x Sep-19E P/E).”

READ: RWS jumps following final dividend hike as Moravia acquisition boosts earnings

Last month the translation and intellectual property firm reported a 43% jump in 2018 profit to £61.8mln, boosted by the acquisition of Czech translation service provider Moravia. Revenues soared 87% to £306mln.

The group also said it had made a “very good start” to the 2019 financial year with a “strong performance” in the first two months, underscoring its expectations of delivering another record year.

In morning trading shares gained 3.4% to 465p. 

Quick facts: RWS Holdings

Price: 637 GBX

Market: AIM
Market Cap: £1.75 billion

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