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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Rexam | REX | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 645.00 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 645.00 | 645.00 |
| Top Posts |
|---|
Posted at 22/7/2015 17:38 by wad collector Gosh that is slow! Rather paralyses the share price for another 6 months at least , and even then the other hoops need to be jumped.I can see why some investors are taking today's price instead of hanging on , especially as the deal may fail. I suppose I will just sit and wait , collecting the divis and further capital gain. Unless the deal crashes and we all curse. |
Posted at 23/2/2015 12:35 by wad collector Hard to solder aluminium!There was a questor article yesterday that seems to me to be missing the point. I am sure we would happily accept 628p ; the question is whether it will happen rather than whether we would accept it! Rexam 565p Questor says ACCEPT OFFER Playing ball Shares in the drinks can maker Rexam [LON:REX] rose 5pc last week after it recommended investors accept a 628p offer from US rival Ball. Questor would agree with the board of directors and take the cash and run. The deal comes at a near 40pc premium to the 448p share price before news of the talks was leaked in early February. And there is no guarantee that the company would be able to offer investors a similar return during the year ahead. Rexam said it had a “difficult year” in 2014, with sales down 3pc to £3.83bn. The company was grappling with weak pricing in end markets and volatile currencies. Pre-tax profits edged up £4m to £343m for the year ended December, largely on cost cuts. Take the cash Investors would be wise not to look a gift horse in the mouth as Graham Chipchase, chief executive, warned that the year ahead presented a “tough trading environment” with rising metal prices, foreign exchange volatility and pricing pressure. Drinks can makers are having to deal with record-high aluminium prices, and the cost of storing the metal is also expected to carry on rising in the coming six months. The company was also hit last year as all three of the major currencies it trades in, the US dollar, euro and Russian rouble, fell against sterling, which impacted reported results. Finally, in the highly competitive markets in which Rexam operates, prices for cans were falling. Combined Strength The logic behind the deal is that divided they will have to face these challenges and fight each other on price. If the two largest can makers combine forces, they can become a one-stop shop for providing the world’s largest drinks companies, such as AmBev, Heineken, PepsiCo and Red Bull, with cans across the world. Together, the two drinks can companies would account for 60pc of the beverage can supply in North America, 69pc in Europe and 74pc in Brazil, according to Morningstar analysts. The combined entity would also be able to reduce costs in many of the duplicated areas of the business such as sales, marketing, management and accounting. Questor recommended Rexam’s shares twice last year (Buy, 500.5p, August 4) and again at 527.5p on June 26. The shares were a classic value pick trading on a reasonable earnings multiple of about 13 times, falling to 12 times and offering a decent dividend yield of 3.3pc. In the absence of this deal the market consensus was for profits and earnings per share to go sideways for the next two years. Investors wouldn’t necessarily lose anything if the deal falls through. That said, Investors are now being offered a chance to cash out while also holding Ball shares if they want further benefits. Questor thinks that is the best of both worlds, and we agree with the board and would accept the offer. The telegraph had a relevant article yestrday also pointing out the break fee deal Not surprisingly the Ball share price has dropped 5% since then. |
Posted at 17/10/2013 23:21 by philanderer Missed this one earlier in the week..."Rexam (LON:REX) had its price target upped by Goldman Sachs Group Inc. from GBX 567 ($9.05) to GBX 637 ($10.17) in a research note issued to investors on Tuesday, Analyst Ratings Network.com reports. The firm currently has a neutral rating on the stock." |
Posted at 15/4/2013 08:08 by broadwood Investors are unlikely to kick up a stink when they vote on Graham Chipchase´s rewards this week. The Chief Executive - who took over at the helm of Rexam in January 2010 - has presided over a 65% share price rise and the return to shareholders of £800m. Even better, his efforts to cut input costs seem to be paying off. The tin can manufacturer's return on capital has risen from 9.5% to 14.7% since 2009, while pre-tax profit is up to £418m, from £414m the year before. However, some - such as analysts at Deutsche Bank - fear the company could become a victim of its own success were it to squander its hard-won 'financial flexibility' through fruitless capital spending, writes The Sunday Times´s Danny Fortson |
Posted at 23/10/2012 03:48 by northernlass WHY REXAM IS UP 23% THIS YEARLONDON -- Rexam (REX.L) has advanced 23% to 450 pence so far during 2012, making the share one of this year's best performers in the FTSE 100. The company, which is one of the world's leading producers of consumer packaging, seems to have impressed investors with a series of positive statements. During February, Rexam issued its final results for 2011. Underlying pre-tax profits were up 15% to 450 million pounds, and net debt was reduced by almost 30%. The strong results enabled the company to increase its total dividend by an impressive 20%. Plans to divest the group's personal-care business were also announced. During May, there was an interim management statement, which revealed there had been strong growth in beverage cans in Western Europe, continued good performance in specialty cans in North America, and some year-on-year growth in volume in South America. Then, in August, Rexam published its half-year report, with an encouraging performance underpinned by its beverage cans business, which saw a 6% increase in volume and a 9% rise in underlying operating profit. Commenting on the half-year results, chief executive Graham Chipchase said: We are encouraged by the progress of the continuing business in the first half and, in spite of a challenging trading environment, our overall performance was in line with our expectations. We are pleased to have announced the proposed sale of the Personal Care business and our intention to return around 370 million pounds to shareholders once the transactions are completed. In an increasingly uncertain macroeconomic environment, we will continue to focus on generating cash, managing costs and return on capital employed for the rest of 2012. Our progress to date gives us confidence of achieving our 15% return on capital employed target by the end of 2013. Rexam's next trading statement will be published on Nov. 15 and may reveal further upbeat news to impress investors. Source: P.S. Here's some links about SCLP, one of the hottest stocks at the moment: |
Posted at 05/10/2012 09:54 by wad collector New 4yr high at 451 .Cannot see any news.Someone on Mottley reviewed yesterday ;" Today I'm evaluating Rexam (LSE: REX), one of the largest consumer packaging companies in the world, which currently trades at 438p. Here are my thoughts: 1. Financial strength: Since nearly losing its investment-grade credit rating three years ago, the company has strengthened its balance sheet, decreasing net debt for a third straight year down to £1.3bn, which is only 1.8 times EBITDA. Interest cover is ample at 8 times and free cash flow has been robust, averaging £300bn the last three years. 2. Profitability: Rexam had been a steady and consistent performer throughout most of the decade, growing revenues and earnings per share at modest rates of 5% and 4% per year, respectively. However, in 2009, due to a weak global economy and an expensive acquisition in 2007, the group reported losses of £29m. It had to cut dividends from 18p in 2008 to 8p in 2009 and launch a rights issue. However, in the last three years, Rexam has increased earnings per share 19% and dividends per share 34% per year. Operating margin has expanded from 9% in 2009 to 12% in 2011, while return on capital employed (ROCE) has increased from 10% in 2009 to 14% in 2011. 3. Management: Investors are probably still wary of the significant share dilution from the rights issue in 2009, which increased shares from 720 million to 876 million. However, management appears to have gotten its act together post rights issue, it has reduced net debt and divested weak performing divisions such as the closures and personal care business and is instead focusing on the higher-margin health-care business, which offer more growth opportunities and the core beverage-packing business, which accounts for 80% of its revenues. 4. Long-term prospects: Rexam is one of three major producers of beverage cans in the world, which together supplies 60% of the global supply. It is the largest beverage can maker in Europe and South America and the second largest in the US. Its customers include top multinational companies such PepsiCo and Coca-Cola (NYSE: KO.US). Rexam has been increasing its presence in emerging markets with growing operations in Russia and Brazil and is the first global player in the Indian market. These countries now contribute over 30% of the company's total revenues. Furthermore, it has signed new deals and expects to regain most of the volume lost in North America in 2011 by 2013. The group expects a growth rate slightly above GDP in the next few years. 5. Valuation: Rexam's shares have increased 22% since January, and analysts forecast earnings per share of 36p for the year, giving the group an undemanding forward price-to-earnings (P/E) ratio of 12. It also returns an above-average dividend yield of 3.5%. My verdict on Rexam In the three years since the height of the financial crisis, Rexam seems to have regained its footing and is headed in the right direction. It has strengthened its financial position and streamlined its operations. It also boasts of a diversified portfolio of potential growth drivers, improving returns on capital and rising dividends. So, overall, I believe Rexam at 438p looks like a buy." |
Posted at 01/8/2012 10:39 by broadwood Rexam falls as half-year results disappoint 10.00: Rexam (REX.L) has bounced back a bit but is still the FTSE's biggest faller, down over 3% to 421p after its half-year profits came shy of some analysts forecasts. Rexam has bounced back a bit but is still the FTSE's biggest faller, down over 3% to 421p after its half-year profits came shy of some analysts forecasts. The company, which makes cans for Red Bull, Pepsi and Carlsberg, said pre-tax profits from continuing operations rose to £207 million in the first six months of the year, up from £204 million a year ago, on sales 3% higher at £2.17 billion. Although drinks can sales rose 6%, sales at its healthcare business fell slightly as a result of there being fewer flu sufferers in the US and from one of its drug delivery devices going off patent. The company delighted investors last month by announcing the sale of its underperforming personal care business for around £452 million, £370 million of which it will return to shareholders. Sandy Morris of Jefferies said second half trading could be 'challenging' but maintained the broker's 'buy' rating on valuation grounds. Deducting the proposed 42p per share return of capital from the share price leaves the stock trading on around 10.3 times forecast earnings for 2013 and on a dividend yield of around 4.3% |
Posted at 22/2/2012 15:58 by broadwood Its often the case on here that some of the gems are completely disregarded by Joe Public. You'll find thousands of posts on companies who are just starting to dig a hole and a group of investors stand on the edge peering in - figuratively speaking.Not so the Fund Managers. This is a pension fund stock for them. |
Posted at 25/11/2011 19:50 by wad collector From last weeks IndependentOur view: Buy Share price: 332.8p (+7.7p) Rexam's shares were among the strongest on the FTSE 100 last night. The gains, achieved as the wider market headed south, came after Europe's largest manufacturer of beverage cans said it was trading in line with hopes, with strength in the cans division limiting the hit from weakness in its plastic packaging business. There was, in other words, nothing eye-catchingly spectacular on the trading front at least nothing that would explain the sharp jump relative to other blue-chips. To work out why the stock rallied as it did, we think it might be more useful to take note of Rexam's comments on the weaker plastic packaging division. In particular, the company said it was "exploring all options" for the division's personal care arm, "including divestment". In English, this means the company is trying to get rid of the business, which, as Seymour Pierce points out, makes up around half of the plastic division's sales. This is good. Getting shot of personal care would leave Rexam's plastics operation with the more resilient healthcare products business. Combined with the strong beverages arm, the company will be better positioned to deliver value to shareholders. And talking of value for shareholders, if Rexam does end up selling personal care, investors could be in line for "a major cash return", according to Bank of America Merrill Lynch. This is because the company is doing well with its debt target, and could afford to give shareholders a boost, which would come on top of the already very tasty 4.3 per cent dividend yield. Now, before we come to our recommendation, we should admit that we bought in earlier this year, when Rexam was trading north of 370p. Since then, it has fallen back. Given the uncertain economic backdrop, we did think about sitting tight until our investment is back in the black. But the possible disposal changes everything in our view. Rexam is a good business with a healthy yield and undemanding valuation multiples (which is why it's not a sell). It does, however, have its weaknesses. The fact that it is dealing with them, and the possibility of a further cash boost, makes its well worthwhile in these uncertain times. |
Posted at 15/12/2010 12:13 by brain smiley apparentlyNHWould be a key positiveClosure sales have continued to decline for Rexam in 2010 following a painful 2009. We do not have a depreciation estimate, but we estimate that Rexam's beverage and specialty closures business is generating £325-350mn of run rate annual revenue (30% of the Plastics division) with EBITA of roughly £20-25mn (7% EBITA margin). We would view a divestiture at a reasonable price as a positive. Rexam would free itself of the weakest link in its Plastics portfolio that is unlikely earnings its cost of capital. This would leave Plastics with reasonably attractive, niche positions in Heathcare and Personal Closures (both profitable and growing) to complement the Beverage Can business. NHIn line with our thesis A divestiture of Closures would be the first step in boosting the company's return profile. In our September 20, 2010 piece Deep Value, Overhangs to Lift, we said that Rexam's likely establishment of long term ROCE objectives in early 2011 would prompt some hard decisions on the fate of the Plastics unit. Rexam needs to decide where, how, and if it wants to compete in Plastics. While a divestiture of Closures is not guaranteed, we have greater confidence that Rexam is taking an open minded approach to its portfolio, and the company's long term strategy is being rigorously evaluated. If the business cannot be sold, we would expect a more aggressive restructuring of the Closures division. NHLong-term upside still far outweighs the downside Rexam shares are up roughly 11% YTD on a total return basis, but have still lagged peers significantly. Shares trade at 9.2x 2011E EPS. We continue to see 60%+ potential upside on a three year basis if the company can boost ROCE to 15% with downside to the 270p level assuming worst case earnings of 30p and a 9x P/E. A sale of Closures could be the first step in unlocking value amplified by the expected issuance of long term ROCE targets in early 2011. BESuch an idea's been kicking about for a while, as it happens.NHand another quick think on RexamNHapparently they have lagged their US peersNHand a re-rating is dueNHcatch-up trade in Rexam. * The stock has really underperformed the market over the last 6-months. Mkt has been concerned about: debt & US beverage can renegotiations (+ been ignoring value/ EM growth here): (i) (i) investors searching around looking for cheap emerging plays..Rexam trades on 9.5x 2011 has 12% sales exposure to Brazil, 7% to Russia and is expanding capacity heavily in EMs, (ii) (ii) people are also looking for safe yield, Rexam has a divi yield of nearly 4% and a FCF Yield of 12%, (iii) (iii) Buyers in mkt, stock up in decent volume. |
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