Wednesday, January 27, 2021 Contact us

Ladbrokes stock downgraded

Ladbrokes stock downgraded

Goodbody Stockbrokers Ltd, who speacilize in equities research analysis have reduced their target price for Ladbrokes PLC shares from 140 pence ($2.33) to 115 pence ($1.91) in a research note released to investors on Tuesday. The company has a “sell” rating on the stock. Goodbody Stockbrokers Ltd’s target price points at a significant drop of 18.73% from the betting operators current price.

Ladbrokes have been in the spotlight from other analysts - FinnCap cut their price target on their shares from 160 pence ($2.66) to 130 pence ($2.16) in their research note two weeks ago. They are not as bearish and now have a “hold” rating on the stock. Separately, analysts from Investec have cut their price target from 160 pence ($2.66) to 130 pence ($2.16). Finally and most importantly Goldman Sachs cut their price target, which was already quite low, from 125 pence ($2.08) to 112 pence ($1.86). They’ve also changed to a “sell” rating. Overall only three analysts have given a buy rating, ten are with a hold and now there are nine advising investors to sell. The consensus still remains at “Hold” with an average target of 146.20 pence ($2.43).

On Tuesday Ladbrokes opened at 139.40 day. Recently they declared a dividend of 4.6 pence ($0.08) per share but this wasn’t enough for investors and shareholders to be more optimistic about the future. This represented a yield of 2.97%.

Recent curbs to the expansion of betting shops in the UK has taken its toll on the prospects of the company, despite its continuing online growth in a highly competitive market.