We recently reported on the sell note from Stockviews which blew a hole in the share price of publishing firm Future (FUTR).
The company is on the comeback trail this morning as it announces full year results will be ahead of expectations thanks to ‘good audience growth’ in the Media division and a strong contribution from its acquisitions. Its shares are up 8.4% to £10.50.
It has also been revealed that chief financial officer Penny Ladkin-Brand will step down from her current role on 1 January 2020 to become chief strategy officer.
Numis increases its earnings per share (EPS) forecast for the September 2019 financial year from 38.2p to 41.1p and for September 2020 from 42.5p to 44.6p.
READ MORE ON FUTURE HERE
AJ Bell investment director Russ Mould says: ‘The company behind titles such as Tech Radar and Total Film has enjoyed a heady ascent in the last couple of years which took it from small cap status all the way up to the FTSE 250. However, by lifting itself above the parapet it was there to be shot at.’
Numis analyst Gareth Davies says the recent share price weakness is unjustified adding: ‘Despite a further upgrade here we continue to feel our 2020 estimates are modeled on a relatively cautious basis and see risk to estimates on the upside as we move to full year 2019 results and into 2020.’
