Workspace Group (WKP) Sets New 1-Year High Following Analyst Upgrade

Workspace Group plc (LON:WKP) shares reached a new 52-week high during trading on Tuesday after Liberum Capital raised their price target on the stock from GBX 1,050 to GBX 1,100. Liberum Capital currently has a buy rating on the stock. Workspace Group traded as high as GBX 1,021 ($13.85) and last traded at GBX 1,010 ($13.70), with a volume of 126222 shares changing hands. The stock had previously closed at GBX 1,016 ($13.78).

Several other research analysts also recently commented on the stock. Peel Hunt increased their price objective on shares of Workspace Group from GBX 950 ($12.88) to GBX 1,050 ($14.24) and gave the company a “buy” rating in a report on Wednesday, November 8th. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 1,080 ($14.65) price objective on shares of Workspace Group in a report on Thursday, November 9th. Numis Securities reissued an “add” rating and set a GBX 1,012 ($13.72) price objective on shares of Workspace Group in a report on Friday, December 15th. Canaccord Genuity increased their price objective on shares of Workspace Group from GBX 875 ($11.87) to GBX 925 ($12.54) and gave the company a “hold” rating in a report on Friday, December 22nd. Finally, Berenberg Bank increased their price objective on shares of Workspace Group from GBX 1,050 ($14.24) to GBX 1,080 ($14.65) and gave the company a “buy” rating in a report on Thursday, November 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of GBX 991.63 ($13.45).

The company has a market cap of $1,650.00 and a PE ratio of 808.06.

Workspace Group (LON:WKP) last announced its earnings results on Wednesday, November 8th. The company reported GBX 17.90 ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of GBX 17.60 ($0.24) by GBX 0.30 ($0.00). The firm had revenue of GBX 6,150 million for the quarter. Workspace Group had a net margin of 201.14% and a return on equity of 15.14%.

The firm also recently announced a dividend, which will be paid on Tuesday, February 6th. Stockholders of record on Thursday, January 11th will be given a dividend of GBX 8.84 ($0.12) per share. This represents a dividend yield of 0.96%. The ex-dividend date is Thursday, January 11th.

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About Workspace Group

Workspace Group PLC is a real estate investment trust (REIT). The Company is engaged in property investment. The Company provides commercial property to let throughout London. The Company owns and manages over 65 properties all across London and is home to approximately 4,000 new and growing companies.

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