Workspace Group (LON:WKP) Share Price Passes Above 200-Day Moving Average - What's Next?

Key Points

• Workspace Group shares crossed above their 200-day moving average, reaching GBX 363 before closing at GBX 361, compared with the average of GBX 361.09.
• Analyst sentiment is generally positive: four analysts rate the stock a Buy and two a Hold, producing a “Moderate Buy” consensus and an average price target of GBX 415.50.
• The company reported quarterly revenue of £181.40 million and earnings per share of GBX 31.30, but continues to show a negative net margin of 66.32% and negative return on equity of 8.83%.

Workspace Group Plc (LON:WKP - Get Free Report)'s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 361.09 and traded as high as GBX 363. Workspace Group shares last traded at GBX 361, with a volume of 256,016 shares changing hands.

Wall Street Analyst Weigh In

Several research analysts have commented on WKP shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Workspace Group from GBX 480 to GBX 400 and set a "hold" rating for the company in a report on Tuesday, June 23rd. Berenberg Bank lifted their target price on shares of Workspace Group from GBX 401 to GBX 427 and gave the company a "buy" rating in a research note on Thursday, June 18th. Peel Hunt reiterated a "hold" rating and set a GBX 350 price target on shares of Workspace Group in a research report on Friday, July 24th. JPMorgan Chase & Co. decreased their price target on shares of Workspace Group from GBX 500 to GBX 410 and set an "overweight" rating for the company in a research note on Tuesday, June 9th. Finally, Jefferies Financial Group restated a "buy" rating and issued a GBX 406 price objective on shares of Workspace Group in a report on Thursday, June 11th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of GBX 415.50.

Workspace Group Price Performance

The company has a current ratio of 0.42, a quick ratio of 0.11 and a debt-to-equity ratio of 59.71. The company has a market cap of £695.46 million, a PE ratio of -5.77, a P/E/G ratio of 1.54 and a beta of 1.08. The firm has a 50 day moving average of GBX 349.04 and a two-hundred day moving average of GBX 361.09.

Workspace Group (LON:WKP - Get Free Report) last posted its quarterly earnings data on Wednesday, June 10th. The company reported GBX 31.30 earnings per share for the quarter. Workspace Group had a negative return on equity of 8.83% and a negative net margin of 66.32%.The company had revenue of £181.40 million during the quarter. Research analysts predict that Workspace Group Plc will post 36.7630058 earnings per share for the current fiscal year.

Workspace Group Company Profile

Workspace is London's leading owner and operator of flexible workspace, currently managing 4.7 million sq. ft. of sustainable space at 79 locations in London and the South East. We are home to some 4,000 of London's fastest growing and established brands from a diverse range of sectors. Our purpose, to give businesses the freedom to grow, is based on the belief that in the right space, teams can achieve more. That in environments they tailor themselves, free from constraint and compromise, teams are best able to collaborate, build their culture and realise their potential.

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