Business
Edison issues outlook on Norcros (NXR)
Edison issues outlook on Norcros (NXR).
About this update from Norcros Plc
[{"type":"text","content":"\n \nEQS-News: Edison Investment Research Limited / Key word(s): AGM/EGM/Research UpdateEdison issues outlook on Norcros (NXR)31-Aug-2017 / 11:10 GMT/BST\nLondon, UK, 31 August 2017\n\nEdison issues outlook on Norcros (NXR)\n\nNorcros has continued to deliver against our expectations and AGM comments reinforce expectations of progress. The strategy of building a larger complementary business portfolio has been executed well to date and the company retains the financial flexibility to continue this process. Such activity may provide a catalyst for a re-rating but there is already scope for this to happen in our view.\n\nNorcros's share price has largely traded within the 150-180p range over the last 18 months or so. It is currently c 11% below the level at the end of 2016 and has underperformed the FTSE All Share Index by almost 30% as a result. Our estimates have remained robust throughout and, consequently, the company's current year P/E and EV/EBITDA (adjusted for pensions cash) have compressed to 6.6x and 4.0x, respectively. Business prospects are somewhat better than the rating suggests in our view and a prospective 4.4% dividend yield enhances total return potential.Click here to view the full report.\n\nAll reports published by Edison are available to download free of charge from its websitewww.edisoninvestmentresearch.com\n\nAbout Edison: Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world-renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisers and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.\n\nEdison is authorised and regulated by the Financial Conduct Authority.\n\nEdison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.\n\nFor more information please contact Edison:\n\nToby Thorrington, +44 (0)20 3077 5721\n\nRoger Johnston, +44 (0)20 3077 5722\n\[email protected]\n\nLearn more at www.edisongroup.com and connect with Edison on:\n\nLinkedIn https://www.linkedin.com/company/edison-investment-researc...