LSE:PAGE

Stock Analysis Report

Executive Summary

PageGroup plc, together with its subsidiaries, provides recruitment consultancy and support services.


Snowflake Analysis

Flawless balance sheet 6 star dividend payer.


Similar Companies

Share Price & News

How has PageGroup's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: PAGE's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

13.4%

PAGE

16.8%

GB Professional Services

10.0%

GB Market


1 Year Return

-28.4%

PAGE

2.3%

GB Professional Services

-23.0%

GB Market

Return vs Industry: PAGE underperformed the UK Professional Services industry which returned 1.1% over the past year.

Return vs Market: PAGE underperformed the UK Market which returned -22.7% over the past year.


Shareholder returns

PAGEIndustryMarket
7 Day13.4%16.8%10.0%
30 Day-16.2%-10.3%-17.6%
90 Day-34.9%-13.7%-27.3%
1 Year-24.1%-28.4%4.7%2.3%-18.9%-23.0%
3 Year-7.2%-20.4%25.2%16.7%-12.9%-24.2%
5 Year-17.7%-36.3%75.6%54.7%1.6%-21.8%

Price Volatility Vs. Market

How volatile is PageGroup's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is PageGroup undervalued compared to its fair value and its price relative to the market?

43.2%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: PAGE (£3.4) is trading below our estimate of fair value (£5.99)

Significantly Below Fair Value: PAGE is trading below fair value by more than 20%.


Price To Earnings Ratio

PE vs Industry: PAGE is good value based on its PE Ratio (10.6x) compared to the Professional Services industry average (15.1x).

PE vs Market: PAGE is good value based on its PE Ratio (10.6x) compared to the UK market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: PAGE's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: PAGE is overvalued based on its PB Ratio (3.4x) compared to the GB Professional Services industry average (2.1x).


Next Steps

Future Growth

How is PageGroup forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

-0.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: PAGE's earnings are forecast to decline over the next 3 years (-0.8% per year).

Earnings vs Market: PAGE's earnings are forecast to decline over the next 3 years (-0.8% per year).

High Growth Earnings: PAGE's earnings are forecast to decline over the next 3 years.

Revenue vs Market: PAGE's revenue is expected to decline over the next 3 years (-1.1% per year).

High Growth Revenue: PAGE's revenue is forecast to decline over the next 3 years (-1.1% per year).


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: PAGE's Return on Equity is forecast to be high in 3 years time (30.5%)


Next Steps

Past Performance

How has PageGroup performed over the past 5 years?

12.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: PAGE has high quality earnings.

Growing Profit Margin: PAGE's current net profit margins (6.3%) are lower than last year (6.7%).


Past Earnings Growth Analysis

Earnings Trend: PAGE's earnings have grown by 12.7% per year over the past 5 years.

Accelerating Growth: PAGE's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: PAGE had negative earnings growth (-0.2%) over the past year, making it difficult to compare to the Professional Services industry average (12%).


Return on Equity

High ROE: PAGE's Return on Equity (31.9%) is considered high.


Next Steps

Financial Health

How is PageGroup's financial position?


Financial Position Analysis

Short Term Liabilities: PAGE's short term assets (£476.4M) exceed its short term liabilities (£264.1M).

Long Term Liabilities: PAGE's short term assets (£476.4M) exceed its long term liabilities (£113.1M).


Debt to Equity History and Analysis

Debt Level: PAGE is debt free.

Reducing Debt: PAGE had no debt 5 years ago.

Debt Coverage: PAGE has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: PAGE has no debt, therefore coverage of interest payments is not a concern.


Balance Sheet

Inventory Level: PAGE has a high level of physical assets or inventory.

Debt Coverage by Assets: Insufficient data to determine if PAGE's debt is covered by short term assets.


Next Steps

Dividend

What is PageGroup's current dividend yield, its reliability and sustainability?

7.76%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: PAGE's dividend (7.76%) is higher than the bottom 25% of dividend payers in the UK market (2.7%).

High Dividend: PAGE's dividend (7.76%) is in the top 25% of dividend payers in the UK market (7.3%)


Stability and Growth of Payments

Stable Dividend: PAGE's dividends per share have been stable in the past 10 years.

Growing Dividend: PAGE's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (42.5%), PAGE's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: PAGE's dividends in 3 years are forecast to be covered by earnings (59.5% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

5.8yrs

Average management tenure


CEO

Steve Ingham (56yo)

13.92s

Tenure

UK£4,340,000

Compensation

Mr. Stephen J. Ingham, also known as Steve, has been the Chief Executive officer of Michael Page International plc since April 6, 2006 and serves as its Member of Executive Board. He has been Chief Executi ...


CEO Compensation Analysis

Compensation vs Market: Steve's total compensation ($USD5.38M) is above average for companies of similar size in the UK market ($USD1.93M).

Compensation vs Earnings: Steve's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Stephen Ingham
CEO, Member of Executive Board & Executive Director13.92yrsUK£4.34m0.37% £4.0m
Kelvin Stagg
CFO, Member of Executive Board & Executive Director5.75yrsUK£2.17m0.093% £1.0m
Gary James
Executive Board Director of Asia Pacific & Member of Executive Boardno datano datano data
Oliver Watson
Executive Board Director of UKno datano datano data
Patrick Hollard
Executive Director of Latin Americano datano datano data
Anthony Thompson
Executive Board Director of Asia & Member of Executive Board2.17yrsno datano data
Roger Hanson
Director of Credit & Accounting Services33.5yrsno datano data
Jeremy Tatham
Group Financial Controllerno datano datano data
Kaye Maguire
General Counsel & Company Secretary1.42yrsno datano data
Eamon Collins
Group Marketing Directorno datano datano data

5.8yrs

Average Tenure

53.5yo

Average Age

Experienced Management: PAGE's management team is seasoned and experienced (5.8 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Stephen Ingham
CEO, Member of Executive Board & Executive Director13.92yrsUK£4.34m0.37% £4.0m
Kelvin Stagg
CFO, Member of Executive Board & Executive Director5.75yrsUK£2.17m0.093% £1.0m
David Lowden
Chairman4.25yrsUK£208.00k0.0032% £34.1k
Sylvia Metayer
Independent Non-Executive Director2.5yrsUK£54.00kno data
Simon Boddie
Independent Non-Executive Director7.5yrsUK£68.00kno data
Patrick De Smedt
Senior Independent Director3.75yrsUK£61.00kno data
Angela Seymour-Jackson
Independent Non-Executive Director2.42yrsUK£62.00k0.00029% £3.1k
Michelle Healy
Independent Non-Executive Director3.42yrsUK£54.00kno data

4.0yrs

Average Tenure

59yo

Average Age

Experienced Board: PAGE's board of directors are considered experienced (4 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

PageGroup plc's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: PageGroup plc
  • Ticker: PAGE
  • Exchange: LSE
  • Founded: 1976
  • Industry: Human Resource and Employment Services
  • Sector: Commercial Services
  • Market Cap: UK£1.081b
  • Shares outstanding: 317.58m
  • Website: https://www.page.com

Number of Employees


Location

  • PageGroup plc
  • Page House
  • The Bourne Business Park
  • Addlestone
  • Surrey
  • KT15 2QW
  • United Kingdom

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PAGELSE (London Stock Exchange)YesOrdinary SharesGBGBPMar 2001
3MIDB (Deutsche Boerse AG)YesOrdinary SharesDEEURMar 2001
MPGP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDMar 2001
PAGELBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBGBPMar 2001
MPGP.YOTCPK (Pink Sheets LLC)SPONSORED ADS REUSUSDNov 2010

Biography

PageGroup plc, together with its subsidiaries, provides recruitment consultancy and support services. The company offers executive search services; recruitment services for qualified professional on permanent, temporary, and contract or interim basis; recruitment services to organizations requiring permanent employees and temporary or contract staff at technical and administrative support, professional clerical, and junior management levels; and flexible recruitment outsourcing services under the Page Executive, Michael Page, Page Personnel, and Page Outsourcing primary brands. It also provides assessment, consulting, and talent services under the Page Assessment, Page Consulting, and Page Talent supplementary brands. The company operates in the United Kingdom, rest of Europe, the Middle East, Africa, the Asia Pacific, and the Americas. The company was formerly known as Michael Page International plc and changed its name to PageGroup plc in June 2016. PageGroup plc was founded in 1976 and is based in Addlestone, the United Kingdom. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/03/30 20:45
End of Day Share Price2020/03/30 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.