Price (GBX)
591.00 0.51%
Open / Last close
- / 588.00
High / Low
605.00 / 574.00
Bid / Offer
585.00 / 591.00
Special Condition: -
Trading Status: Regular Trading
As at 05.06.20 14:08:27 - All data delayed at least 15 minutes

Smart Metering Systems PLC instruments

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Equity (1)
Code Instrument name Price Change Type Documentation
SMSORD 1P591.00

Price information

What's this?
Open price
Previous close price / date
588.00 / 04 June 2020
52 week range
310.00 / 661.00
YTD return
1 year return

Instrument information

What's this?
Instrument market cap (£m)
Earnings per share
Dividend (yield)
1.12 %
Issue date
08 July 2011
Market identifier code (MIC)
Country of share register
Market segment
Trading service
Date Time Price CurrencyVolume Trade ValueTrade type Trade flag MIC
05.06.20 13:05:42 584.00 GBX 604 3,527.36 Off-Book - AIMX
05.06.20 12:36:01 582.83 GBX 855 4,983.19 Off-Book - AIMX
05.06.20 12:08:17 580.26 GBX 1,950 11,315.13 Off-Book - AIMX
05.06.20 11:47:16 582.00 GBX 810 4,714.20 Off-Book - AIMX
05.06.20 11:33:14 580.79 GBX 320 1,858.53 Off-Book - AIMX

Equity Research

from Smart Metering Systems PLC
Cenkos: Smart Metering Systems Plc -- Timing (and cash) is everything

Smart Metering Systems (SMS) has completed the sale of a minority of I&C meter assets to Equitix for a cash consideration of £291m (16.5x EBITDA). With engineering flexibility and robust index linked recurring revenue from meter rental and data services being completely uninterrupted by the current lockdown environment (£75.8m as at 1 April 2020) SMS has stated that underlying profitability is currently expected to be in line with the Board's earlier expectations. Essential emergency field engin

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Cenkos: Smart Metering Systems Plc -- Covid-19 update

SMS has the morning issued an update to the market in relation to Covid-19. SMS has, with immediate effect, temporarily halted all non-essential field engineering activity, including the installation of smart meters. Essential emergency field engineering work will continue and SMS has increased safety procedures in place to ensure the protection of employees, supply chain and consumers. Whilst this short-term halt in installation activity will have some impact on profitability in the current yea

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Cenkos: Smart metering Systems plc - Rule 1: Cash is king. Rule 2: Cash is king

SMS could scarcely have better timed the sale of a minority portfolio of I&C meter assets for £291m in cash, as reported on 12th March, enabling SMS to completely deleverage its balance sheet during this highly uncertain period. SMS has rebased its dividend to an (RPI upwards only linked) prospective 25p, up 263.4% on FY19 and providing a safe and index linked yield of 4.4%. In a period during which dividend income has become highly uncertain, SMS benefits from high quality, sustainable and pred

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Cenkos: Smart Metering Systems Plc - Demonstrable value realisation

Smart Metering Systems (SMS) has concluded the sale of a proportion of its I&C meter asset portfolio to Summer Bidco Limited for a total cash consideration of £291m, demonstrably highlighting the value of the meter asset class. The net gain on sale is c£202m pre transaction related costs (£192m post), c36.6% of the current market cap and we estimate should leave SMS with a net cash position in excess of £60m (2019 net debt confirmed at c£220m as per January 31 trading update). This has enabled S

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Cenkos: Smart Metering Systems Plc -- Trading update

Smart Metering Systems (SMS) has provided a trading update stating that its FY19 financial performance is in line with market expectations. The smart meter portfolio grew 44% to 1.215m by end 2019, with the total portfolio of meter and data assets owned and under management reaching 3.7m, an increase of 18%. Annualised recurring revenue (index linked) increased 20% to £90.1m of which £38m comes from smart meters, £21.2m from the I&C meter portfolio and £18.6m from traditional domestic meter asse

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