Digital growth drives 'positive' Q3 for Ladbrokes Coral

Ruben Hill
November 14, 2017

Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and thirteen have issued a buy rating to the company's stock. Morgan Stanley reiterated an "overweight" rating and issued a GBX 210 ($2.76) target price on shares of Ladbrokes Coral Group PLC in a research report on Monday, October 2nd. The company now has a consensus rating of "Buy" and a consensus target price of GBX 159.80 ($2.10). The stock of Ladbrokes Coral Group PLC (LON:LCL) earned "Sell" rating by Liberum Capital on Wednesday, January 18. The rating was maintained by Deutsche Bank on Wednesday, December 28 with "Buy". On Thursday, August 31 the stock rating was maintained by Numis Securities with "Hold".

Publishing its Q3 trading update (period ending 29 October), FTSE-listed sports betting group Ladbrokes Coral Plc continues to record a strong digital momentum, offsetting the year decline of its United Kingdom retail betting division. The stock presently has a consensus rating of "Hold" and a consensus price target of GBX 141.89 ($1.80). Shore Capital maintained the stock with "Buy" rating in Thursday, July 27 report. The original version of this report can be accessed at investing/goldman-sachs-group-inc-reiterates-buy-rating-for-ladbrokes-plc-lad/1118422.html. It has underperformed by 16.70% the S&P500. Ladbrokes Coral Group PLC (LON:LCL) has 0.00% since November 14, 2016 and is.

Ladbrokes Coral, which has more than 30 stores here operating under Northwest Bookmakers, was created from the £2.3 billion merger of Ladbrokes and Gala Coral.

The amount generated by sports betting in its British shops dipped 4pc in the period, while revenues from their machines were flat, leaving total United Kingdom retail net revenue down 1pc. It now has negative earnings.

The UK retail operations are set to face further pressure as the government plans to place restrictions on fixed odds betting terminals (FOTBs). Also Marketwatch.com published the news titled: "Ladbrokes Coral revenue up; trading in line" on May 04, 2017. The Digital segment consists of betting and gaming activities from online and mobile operations, which includes ladbrokes.com, coral.co.uk, galabingo.com, galacasino.com eurobet.it, Ladbrokes Belgium and Ladbrokes Australia.

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