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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Micro Focus International plc    MCRO   GB00BJ1F4N75

MICRO FOCUS INTERNATIONAL PLC

(MCRO)
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Micro Focus International : Software firm Micro Focus jumps over 20% on upbeat outlook

11/18/2020 | 04:12am EST
A sign stands outside the offices of Micro Focus in Newbury

(Reuters) - Shares of Micro Focus International surged 24% to the top of UK's mid-cap index <.FTMC> on Wednesday after the software firm forecast annual margins at the upper end of its expectations and signalled progress around its turnaround plan.

The company's sales declines slowed in the second half of the year, led by improvements in the licensing and consulting divisions, after having previously warned that constraints seen in the first half due to the COVID-19 pandemic were unlikely to improve later in the year.

Micro Focus, which helps customers maintain and integrate legacy IT technology, said it now expects adjusted core earnings margin of about 39% on revenue of about $3 billion (2.3 billion pounds) for the year ended Oct. 31 as it cut costs.

"We are now nine months into our three-year turnaround plan ... Cash generation and working capital management remain strong, the investments we've made are showing encouraging early results," said Chief Executive Officer Stephen Murdoch.

Micro Focus' shares rose 21.3% to 329.8 pence by 0850 GMT, having hit a four-month high of 337.4 pence earlier in the session. The stock has lost over two-third of its value so far this year.

The company is still reviewing its final dividend as it looks to shore up cash to cushion blows from some customers deferring projects and delaying renewals, and reiterated that the broader market conditions remained uncertain.

(Reporting by Pushkala Aripaka in Bengaluru; editing by Uttaresh.V)


© Reuters 2020
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Financials (USD)
Sales 2020 2 980 M - -
Net income 2020 -772 M - -
Net Debt 2020 4 115 M - -
P/E ratio 2020 -1,94x
Yield 2020 2,90%
Capitalization 1 873 M 1 873 M -
EV / Sales 2020 2,01x
EV / Sales 2021 1,97x
Nbr of Employees 11 900
Free-Float 99,4%
Chart MICRO FOCUS INTERNATIONAL PLC
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Micro Focus International plc Technical Analysis Chart | MCRO | GB00BJ1F4N75 | MarketScreener
Technical analysis trends MICRO FOCUS INTERNATIONAL PLC
Short TermMid-TermLong Term
TrendsBearishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 12
Average target price 8,40 $
Last Close Price 5,59 $
Spread / Highest target 244%
Spread / Average Target 50,1%
Spread / Lowest Target -16,8%
EPS Revisions
Managers and Directors
NameTitle
Stephen Edward Murdoch Chief Executive Officer & Director
Gregory Lock Chairman
Paul Rodgers Chief Operating Officer
Brian McArthur-Muscroft Chief Financial Officer & Director
Karen Slatford Senior Independent Non-Executive Director
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