Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. お知らせ • Apr 08
The Limners and Bards Limited, Annual General Meeting, Aug 21, 2025 The Limners and Bards Limited, Annual General Meeting, Aug 21, 2025. Location: unit 4, 69-75 constant spring road, kingston 10, Jamaica New Risk • Oct 20
New minor risk - Dividend sustainability The dividend is not well covered by cash flows. The company is paying a dividend despite having no free cash flows. Dividend yield: 2.2% This is considered a minor risk. Dividends are ultimately paid out of the company's available cash reserves. Companies that pay out too much of their cash flow are at risk of having to reduce or cut their dividend in future. If cash flow growth slows or cash flows fall, then there may not be enough cash reserves to maintain the same dividend. Or in extreme cases, companies may opt to take on debt to maintain the dividend. This risk is mitigated by the fact the dividend is covered by earnings, however, cash flows are generally more important. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (21% average weekly change). Earnings have declined by 8.5% per year over the past 5 years. High level of non-cash earnings (31% accrual ratio). Market cap is less than US$10m (JA$1.40b market cap, or US$8.84m). Minor Risk Paying a dividend despite having no free cash flows. Valuation Update With 7 Day Price Move • Oct 11
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JA$1.22, the stock trades at a trailing P/E ratio of 13.7x. Average trailing P/E is 15x in the Media industry in South America. Total loss to shareholders of 64% over the past three years. Valuation Update With 7 Day Price Move • Sep 27
Investor sentiment deteriorates as stock falls 23% After last week's 23% share price decline to JA$1.15, the stock trades at a trailing P/E ratio of 13x. Average trailing P/E is 15x in the Media industry in South America. Total loss to shareholders of 65% over the past three years. Reported Earnings • Sep 18
Third quarter 2024 earnings released: EPS: JA$0.04 (vs JA$0.04 in 3Q 2023) Third quarter 2024 results: EPS: JA$0.04 (in line with 3Q 2023). Revenue: JA$307.2m (down 18% from 3Q 2023). Net income: JA$34.1m (down 6.9% from 3Q 2023). Profit margin: 11% (up from 9.8% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 25% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Sep 17
Now 22% overvalued Over the last 90 days, the stock has fallen 9.1% to JA$1.40. The fair value is estimated to be JA$1.15, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has declined by 35%. お知らせ • Sep 13
The Limners and Bards Limited Approves Interim Dividend, Payable on October 10, 2024 The Limners and Bards Limited at its Board of Directors meeting held on September 10, 2024, approved an interim dividend of $0.0265 per share. These payments will be made on October 10, 2024, to all shareholders on record as of September 26, 2024, the ex-dividend date is September 26, 2024. Valuation Update With 7 Day Price Move • Aug 31
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to JA$1.55, the stock trades at a trailing P/E ratio of 16.9x. Average trailing P/E is 15x in the Media industry in South America. Total loss to shareholders of 51% over the past three years. Buy Or Sell Opportunity • Aug 31
Now 34% overvalued after recent price rise Over the last 90 days, the stock has risen 12% to JA$1.55. The fair value is estimated to be JA$1.16, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has declined by 35%. Valuation Update With 7 Day Price Move • Aug 07
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JA$1.57, the stock trades at a trailing P/E ratio of 17.2x. Average trailing P/E is 15x in the Media industry in South America. Total loss to shareholders of 48% over the past three years. Buy Or Sell Opportunity • Aug 03
Now 32% overvalued The stock has been flat over the last 90 days, currently trading at JA$1.55. The fair value is estimated to be JA$1.18, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 4.1% over the last 3 years. Earnings per share has declined by 35%. Valuation Update With 7 Day Price Move • Jul 23
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JA$1.59, the stock trades at a trailing P/E ratio of 17.4x. Average trailing P/E is 14x in the Media industry in South America. Total loss to shareholders of 48% over the past three years. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JA$1.89, the stock trades at a trailing P/E ratio of 20.7x. Average trailing P/E is 14x in the Media industry in South America. Total loss to shareholders of 39% over the past three years. Reported Earnings • Jun 20
Second quarter 2024 earnings released Second quarter 2024 results: Revenue: JA$226.2m (down 22% from 2Q 2023). Net income: JA$23.2m (up 70% from 2Q 2023). Profit margin: 10% (up from 4.7% in 2Q 2023). The increase in margin was driven by lower expenses. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to JA$1.70, the stock trades at a trailing P/E ratio of 20.9x. Average trailing P/E is 15x in the Media industry in South America. Total loss to shareholders of 44% over the past three years. Valuation Update With 7 Day Price Move • May 18
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to JA$1.76, the stock trades at a trailing P/E ratio of 21.6x. Average trailing P/E is 16x in the Media industry in South America. Total loss to shareholders of 45% over the past three years. Buy Or Sell Opportunity • Apr 24
Now 24% undervalued after recent price drop Over the last 90 days, the stock has fallen 6.9% to JA$1.21. The fair value is estimated to be JA$1.58, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 34%. お知らせ • Apr 11
The Limners and Bards Limited, Annual General Meeting, Jul 18, 2024 The Limners and Bards Limited, Annual General Meeting, Jul 18, 2024, at 10:00 US Eastern Standard Time. Location: Head Office, Units 4 -5, 69 Constant Spring Road Kingston 10 Jamaica Agenda: To consider Directors' Report, Auditors Reports and Audited Financial Statements; to ratify that the Ordinary dividends and Special dividend paid on January 31, 2023; to consider election of directors; to consider Directors' Remuneration; to consider appointment of Auditors and their Remuneration. Valuation Update With 7 Day Price Move • Mar 27
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to JA$1.80, the stock trades at a trailing P/E ratio of 22.1x. Average trailing P/E is 11x in the Entertainment industry in South America. Total loss to shareholders of 32% over the past three years. Buy Or Sell Opportunity • Mar 26
Now 46% overvalued after recent price rise Over the last 90 days, the stock has risen 3.4% to JA$1.80. The fair value is estimated to be JA$1.24, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Earnings per share has declined by 34%. Reported Earnings • Mar 19
First quarter 2024 earnings released: EPS: JA$0.03 (vs JA$0.01 in 1Q 2023) First quarter 2024 results: EPS: JA$0.03 (up from JA$0.01 in 1Q 2023). Revenue: JA$219.4m (down 11% from 1Q 2023). Net income: JA$26.2m (up 296% from 1Q 2023). Profit margin: 12% (up from 2.7% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to JA$1.87, the stock trades at a trailing P/E ratio of 30.9x. Average trailing P/E is 11x in the Entertainment industry in South America. Total loss to shareholders of 26% over the past three years. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment improves as stock rises 24% After last week's 24% share price gain to JA$1.49, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 11x in the Entertainment industry in South America. Total loss to shareholders of 38% over the past three years. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to JA$1.30, the stock trades at a trailing P/E ratio of 21.4x. Average trailing P/E is 10x in the Entertainment industry in South America. Total loss to shareholders of 48% over the past three years. New Risk • Nov 21
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: JA$1.49b (US$9.61m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risk Market cap is less than US$10m (JA$1.49b market cap, or US$9.61m). Minor Risks Dividend is not well covered by cash flows (dividend per share is over 5x cash flows per share). Share price has been volatile over the past 3 months (15% average weekly change). Profit margins are more than 30% lower than last year (4.9% net profit margin). Valuation Update With 7 Day Price Move • Oct 25
Investor sentiment improves as stock rises 23% After last week's 23% share price gain to JA$2.22, the stock trades at a trailing P/E ratio of 37x. Average trailing P/E is 12x in the Entertainment industry in South America. Total loss to shareholders of 3.9% over the past three years. Reported Earnings • Sep 16
Third quarter 2023 earnings released: EPS: JA$0.04 (vs JA$0.02 in 3Q 2022) Third quarter 2023 results: EPS: JA$0.04 (up from JA$0.02 in 3Q 2022). Revenue: JA$374.4m (up 14% from 3Q 2022). Net income: JA$36.7m (up 73% from 3Q 2022). Profit margin: 9.8% (up from 6.4% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JA$1.98, the stock trades at a trailing P/E ratio of 45.5x. Average trailing P/E is 12x in the Entertainment industry in South America. Total loss to shareholders of 23% over the past three years. Reported Earnings • Jun 16
Second quarter 2023 earnings released: EPS: JA$0.01 (vs JA$0.06 in 2Q 2022) Second quarter 2023 results: EPS: JA$0.01 (down from JA$0.06 in 2Q 2022). Revenue: JA$291.4m (down 14% from 2Q 2022). Net income: JA$13.7m (down 75% from 2Q 2022). Profit margin: 4.7% (down from 16% in 2Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Apr 01
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to JA$2.59, the stock trades at a trailing P/E ratio of 29x. Average trailing P/E is 13x in the Entertainment industry in South America. Total returns to shareholders of 26% over the past three years. Reported Earnings • Mar 20
First quarter 2023 earnings released: EPS: JA$0.01 (vs JA$0.07 in 1Q 2022) First quarter 2023 results: EPS: JA$0.01 (down from JA$0.07 in 1Q 2022). Revenue: JA$247.8m (down 44% from 1Q 2022). Net income: JA$6.63m (down 90% from 1Q 2022). Profit margin: 2.7% (down from 15% in 1Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 12% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Feb 13
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to JA$2.70, the stock trades at a trailing P/E ratio of 17.7x. Average trailing P/E is 16x in the Entertainment industry in South America. Total returns to shareholders of 12% over the past three years. Valuation Update With 7 Day Price Move • Jan 27
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to JA$2.20, the stock trades at a trailing P/E ratio of 14.4x. Average trailing P/E is 16x in the Entertainment industry in South America. Total loss to shareholders of 19% over the past three years. Reported Earnings • Jan 06
Full year 2022 earnings released: EPS: JA$0.15 (vs JA$0.16 in FY 2021) Full year 2022 results: EPS: JA$0.15 (down from JA$0.16 in FY 2021). Revenue: JA$1.34b (up 9.6% from FY 2021). Net income: JA$144.0m (down 7.4% from FY 2021). Profit margin: 11% (down from 13% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 30
Investor sentiment improved over the past week After last week's 19% share price gain to JA$2.76, the stock trades at a trailing P/E ratio of 16.6x. Average trailing P/E is 15x in the Entertainment industry in South America. Total loss to shareholders of 21% over the past year. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improved over the past week After last week's 16% share price gain to JA$2.72, the stock trades at a trailing P/E ratio of 16.3x. Average trailing P/E is 16x in the Entertainment industry in South America. Total loss to shareholders of 21% over the past year. Reported Earnings • Sep 17
Third quarter 2022 earnings released: EPS: JA$0.02 (vs JA$0.03 in 3Q 2021) Third quarter 2022 results: EPS: JA$0.02 (down from JA$0.03 in 3Q 2021). Revenue: JA$329.6m (up 2.1% from 3Q 2021). Net income: JA$21.2m (down 26% from 3Q 2021). Profit margin: 6.4% (down from 8.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improved over the past week After last week's 17% share price gain to JA$3.18, the stock trades at a trailing P/E ratio of 18.2x. Average trailing P/E is 19x in the Entertainment industry globally. Total returns to shareholders of 3.4% over the past year. Upcoming Dividend • Jun 22
Upcoming dividend of JA$0.039 per share Eligible shareholders must have bought the stock before 29 June 2022. Payment date: 15 July 2022. Payout ratio is a comfortable 21% and the cash payout ratio is 78%. Trailing yield: 1.2%. Lower than top quartile of Jamaican dividend payers (2.9%). Lower than average of industry peers (1.6%). Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 7 experienced directors. No highly experienced directors. was the last director to join the board, commencing their role in . The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Feb 10
Investor sentiment improved over the past week After last week's 20% share price gain to JA$4.00, the stock trades at a trailing P/E ratio of 24.3x. Average trailing P/E is 23x in the Entertainment industry globally. Total returns to shareholders of 64% over the past year. Upcoming Dividend • Jan 05
Upcoming dividend of JA$0.013 per share Eligible shareholders must have bought the stock before 12 January 2022. Payment date: 31 January 2022. Payout ratio is a comfortable 21% and the cash payout ratio is 78%. Trailing yield: 0.9%. Lower than top quartile of Jamaican dividend payers (3.1%). Lower than average of industry peers (1.2%). Reported Earnings • Jan 05
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: JA$0.16 (up from JA$0.13 in FY 2020). Revenue: JA$1.23b (up 35% from FY 2020). Net income: JA$155.6m (up 22% from FY 2020). Profit margin: 13% (down from 14% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Reported Earnings • Sep 19
Third quarter 2021 earnings released: EPS JA$0.03 (vs JA$0.02 in 3Q 2020) The company reported a solid third quarter result with improved earnings and revenues, although profit margins were flat. Third quarter 2021 results: Revenue: JA$322.9m (up 50% from 3Q 2020). Net income: JA$28.6m (up 35% from 3Q 2020). Profit margin: 8.9% (in line with 3Q 2020). Valuation Update With 7 Day Price Move • Sep 01
Investor sentiment improved over the past week After last week's 20% share price gain to JA$3.73, the stock trades at a trailing P/E ratio of 22.9x. Average trailing P/E is 23x in the Entertainment industry globally. Total returns to shareholders of 42% over the past year. Upcoming Dividend • Jul 28
Upcoming dividend of JA$0.036 per share Eligible shareholders must have bought the stock before 04 August 2021. Payment date: 27 August 2021. Trailing yield: 1.1%. Lower than top quartile of Jamaican dividend payers (3.0%). In line with average of industry peers (1.2%). Reported Earnings • Jun 16
Second quarter 2021 earnings released: EPS JA$0.05 (vs JA$0.04 in 2Q 2020) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were flat. Second quarter 2021 results: Revenue: JA$262.8m (up 26% from 2Q 2020). Net income: JA$46.5m (up 23% from 2Q 2020). Profit margin: 18% (in line with 2Q 2020). Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 18% share price gain to JA$3.45, the stock trades at a trailing P/E ratio of 22.5x. Average trailing P/E is 29x in the Entertainment industry globally. Total returns to shareholders of 91% over the past year. Reported Earnings • Mar 20
First quarter 2021 earnings released The company reported a solid first quarter result with improved earnings and revenues, although profit margins were flat. First quarter 2021 results: Revenue: JA$356.3m (up 36% from 1Q 2020). Net income: JA$67.0m (up 37% from 1Q 2020). Profit margin: 19% (in line with 1Q 2020). Reported Earnings • Dec 25
Full year 2020 earnings released: EPS JA$0.13 The company reported a solid full year result with improved earnings and revenues, although profit margins were weaker. Full year 2020 results: Revenue: JA$911.7m (up 44% from FY 2019). Net income: JA$127.1m (up 34% from FY 2019). Profit margin: 14% (down from 15% in FY 2019). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Dec 16
Investor sentiment improved over the past week After last week's 15% share price gain to JA$3.00, the stock is trading at a trailing P/E ratio of 24.6x, up from the previous P/E ratio of 21.3x. This compares to an average P/E of 28x in the Entertainment industry. Is New 90 Day High Low • Dec 16
New 90-day high: JA$3.00 The company is up 5.0% from its price of JA$2.87 on 16 September 2020. The Jamaican market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Entertainment industry, which is up 33% over the same period. Valuation Update With 7 Day Price Move • Oct 31
Market bids up stock over the past week After last week's 15% share price gain to JA$2.68, the stock is trading at a trailing P/E ratio of 22x, up from the previous P/E ratio of 19.1x. This compares to an average P/E of 26x in the Entertainment industry. 
