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    RSW   GB0007323586

RENISHAW PLC

(RSW)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 04/19 05:44:30 am
6427.5 GBX   +0.04%
04/15FORM 8.3 - THE VANGUARD GROUP, INC.  : Renishaw plc
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04/14NORGES BANK  : - Form 8.3 - Renishaw Plc
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04/13FORM 8.3 - THE VANGUARD GROUP, INC.  : Renishaw plc
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Renishaw : Engineering firm Renishaw mulls sale as founders keen to bow out

03/02/2021 | 03:37am EDT

(Reuters) - Renishaw Plc said on Tuesday it was seeking a buyer as the British engineering firm mulls several options after its founders announced their plans to sell respective majority stakes in the company.

Executive Chairman David McMurtry and Non-Executive Deputy Chairman John Deer, who together own about 53% of Renishaw, are looking to dispose of their stake they held for decades, the company said.

Renishaw said it was seeking offers, but has received none so far and could also cancel its decision at any time. Seeking potential suitors is often a standard part of restructuring processes where the company weighs all options.

Shares of the company, which makes precision measurement equipment used in products ranging from jet engines to smartphones, opened 13.8% higher at 6,600 pence in early trade, indicating investor approval of the plans.

"Now finding ourselves in our 80s, our thoughts have increasingly turned to considering the future of our shareholdings in the company and how we can actively contribute to securing the future success of the business," McMurtry and Deer said in a joint statement.

The company, founded in 1973 and publicly listed in 1984, made a strong recovery after being hurt by the coronavirus-induced lockdowns, with its half-yearly profit more than tripling and as it reinstated an interim dividend.

(Reporting by Aniruddha Ghosh in Bengaluru; Editing by Ramakrishnan M. and Sherry Jacob-Phillips)


© Reuters 2021
All news about RENISHAW PLC
04/15FORM 8.3 - THE VANGUARD GROUP, INC.  : Renishaw plc
DJ
04/14NORGES BANK  : - Form 8.3 - Renishaw Plc
PR
04/13FORM 8.3 - THE VANGUARD GROUP, INC.  : Renishaw plc
DJ
04/08FORM 8.3 - THE VANGUARD GROUP, INC.  : Renishaw plc
DJ
04/05FORM 8.3 - THE VANGUARD GROUP, INC.  : Renishaw plc
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04/01FORM 8.3 - THE VANGUARD GROUP, INC.  : Renishaw plc
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03/30FORM 8.3 - THE VANGUARD GROUP, INC.  : Renishaw plc
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03/29MARKET CHATTER : Renishaw May Receive Takeover Offers from Hexagon, Danaher
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03/26RENISHAW  : Expects 'Good Momentum' To Push Revenue Ahead of Fiscal 2021 Results
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03/24RENISHAW  : backed project wins national Aerospace & Defence award
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More news
Financials
Sales 2021 553 M 766 M 766 M
Net income 2021 104 M 145 M 145 M
Net cash 2021 179 M 249 M 249 M
P/E ratio 2021 47,4x
Yield 2021 0,77%
Capitalization 4 676 M 6 462 M 6 486 M
EV / Sales 2021 8,14x
EV / Sales 2022 7,25x
Nbr of Employees 4 371
Free-Float 46,7%
Chart RENISHAW PLC
Duration : Period :
Renishaw plc Technical Analysis Chart | MarketScreener
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Technical analysis trends RENISHAW PLC
Short TermMid-TermLong Term
TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 10
Average target price 5 731,11 GBX
Last Close Price 6 425,00 GBX
Spread / Highest target 2,72%
Spread / Average Target -10,8%
Spread / Lowest Target -23,7%
EPS Revisions
Managers and Directors
NameTitle
William Ernest Lee Chief Executive Officer & Director
Allen Christopher George Roberts Group Finance Director & Director
David Roberts McMurtry Chairman
Geoffrey McFarland Director-Group Technology
David Grant Senior Independent Non-Executive Director
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