Mitchells & Butlers Share Discussion Threads

[philanderer] 22/4/2016 12:53

#Melrose and Mitchells & Butlers lead FTSE 250 lower#


Morgan Stanley has cut its target price on Mitchells from 430p to 340p, saying:

Tough industry trading leads us to cut earnings per share forecasts 6-10% and our price target to 340p. However, we remain overweight as the relatively new chief executive is focused on improving performance, and if this fails we see plenty of other options to unlock value in this asset-rich business.

Ahead of the group’s results on 19 May, the bank’s analyst Jamie Rollo continued:

The chief executive’s three themes [at the company’s November update] were (1) building a more balanced business, (2) instilling a more commercial culture, and (3) increasing the pace of execution and innovation. There are some indications of the latter. For example, the last few months have seen a new look, O’Neill’s, Miller & Carter’s “Steak Table” experience, a Toby Carvery app, the roll-out of contactless payments and Apple Pay, a new craft keg festival, a trial of its own coffee blend, and plans to add 500 digital gaming machines.

However, these examples are hard to quantify, and we would look for clarity on: (1) group targets (e.g. like for like sales, operating margins, return on invested capital), (2) how the company aims to drive like for like sales (e.g. premiumisation, digital/Customer Relationship Management capabilities, improved food offer, more new product development/innovation, better incentivisation), and (3) plans to mitigate costs, particularly on the introduction of the National Living Wage but perhaps also a review of overheads (noting it has already restructured its senior operations teams).

[togglebrush] 18/3/2016 14:10

Possible reasons for price movement:-
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Mitchells & Butlers plc (LON:MAB)‘s stock had its “buy” rating restated by equities research analysts at Deutsche Bank in a research report issued on Friday. They currently have a GBX 420 ($6.01) price target on the stock.
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AlphaValue restated a “buy” rating and issued a GBX 391 ($5.59) in a report on Thursday, March 10th.
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Canaccord Genuity restated a “buy” rating and issued a GBX 375 ($5.37) price target in a research note on Friday, February 19th.
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Stifel Nicolaus reaffirmed a “buy” rating and set a GBX 450 ($6.44) price target in a report on Tuesday, February 16th.
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Goldman Sachs reaffirmed a “buy” rating and set a GBX 410 ($5.87) in a research report on Friday, February 12th.
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HSBC reiterated a “buy” rating and issued a GBX 385 ($5.51) price objective in a report on Friday, February 5th.
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Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of GBX 388.38 ($5.56).

[togglebrush] 09/3/2016 15:47

Restaurant Group (RTN) has very high footfall passing trades sites in Airports and City Centres which are paying high rents.
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MAB mainly has historic freehold sites in prominent (often pretty locations) local sites ... more destination than passing sites.
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Menus and trades therefore tend to be different.

[bookbroker] 09/3/2016 15:03

Merger I think not on the above post, Joe Lewis would most likely wish to monetise the assets here, trades way below NAV even with debt!

[irenekent] 09/3/2016 13:26

Looks like this has been knocked back by Restaurant Group's unhelpful forecasts.

[chinese investor] 17/2/2016 14:35

Very Soon !

[chinese investor] 17/2/2016 11:53

360p Soon !

[chinese investor] 17/2/2016 10:14

Merger with Whitbread soon in my opinion.

[togglebrush] 15/2/2016 12:22

Press
Feb 12th, 2016
Mitchells & Butlers plc (LON:MAB)‘s stock had its “buy” rating reissued by investment analysts at Goldman Sachs in a research report issued to clients and investors on Friday, Market Beat reports. They presently have a GBX 410 ($5.91) target price on the stock

[togglebrush] 28/1/2016 08:37

NOT TOO BAD a Trading statement and showing signs of progress IMHO

[alfred] 27/1/2016 08:35

Dismal management, historically at least, soggy mature market, too much debt, low dividend yield, tired brands. Not a lot to like but then it is comparatively lowly rated.

[togglebrush] 26/1/2016 15:41

Mitchell and Butlers share price has UNDER PERFORMED by 30 to 35% in Past Year against
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_________________Revenue pa
Greene King_______1,315 m
Marstons____________902 m
Youngs A____________127 m
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For reference
JDW_______________1,513 m
MAB_______________2,100 m
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but following Orchid Group ("Orchid") takeover, including 173 predominantly freehold pubs, in June 2015 it deserves a re rating. Add in capital expenditure GBP162m (FY 2014: GBP162m), including 14 new site openings and 51 conversions reported in the Annual Report in November for year to end Sept 2015 together with a restored dividend
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Then there is the NEW CEO from September ... There is chance that the AGM trade update may give a lift to the share price ... Thursday will tell

[ashbox] 26/1/2016 12:46

Good results at MARS being reflected in MAB share price today.....

[togglebrush] 26/1/2016 11:36

Calendar
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28 January 2016 Annual General Meeting ... THURSDAY
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May 2016 Announcement of half-year results
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July 2016 Trading update
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September 2016 Pre-close trading update
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November 2016 2016 final results announced
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[mike24] 26/11/2015 08:16

mab's competition has to face minimum wage staff payments
don't see what the problem is, costs should be passed on
which would only be insignificant amounts, share price oversold

24/12 about time this started to recover
director buys 18000 x318
edit
brutal fall to 272 still think it will come good
nai

[irenekent] 24/11/2015 08:22

The chart said it all.

[mike24] 24/11/2015 08:11

possible £1 gain on share price by next summer

thinly traded, easy to manipulate, shake a few sellers out, this am
we are lazy, cheap as chips to eat out, easier than slaving in the kitchen
for a couple of hrs,

[togglebrush] 24/11/2015 07:13

Strong earnings growth and resumption of dividend
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Financial performance
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- Total revenue of GBP2,101m, up 6.6%
- FY 2015 like-for-like sales growth of 0.8%(a)
- Adjusted operating profit of GBP328m(b) , up 4.8%
- Adjusted earnings per share of 35.7p(b) , up 9.5%
- Adjusted net cash inflow of GBP89m(c) (FY 2014 GBP199m outflow)
- Final dividend of 5p recommended
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Reported results
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- Profit before tax: GBP126m (FY 2014 GBP123m)
- Basic earnings per share: 25.0p (FY 2014 22.6p)
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Balance sheet and cash flow
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- Capital expenditure GBP162m (FY 2014: GBP162m),
including 14 new site openings and 51 conversions
- Net debt of GBP1.87bn representing 4.3 times
annualised adjusted EBITDA (FY 2014 4.5 times)
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Operational highlights
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- Adjusted operating margin 15.6%(b) (FY 2014:
15.9%), impacted by Orchid
- Orchid integration on track with 41 completed
conversions performing well and closure of head office

[gscrawler] 10/10/2015 18:18

The new financial period has started very well with the first two weeks already showing decent sales growth compared to last year's L4L

[togglebrush] 24/9/2015 11:40

Share Price is up over 3% and top of FTSE leader board ... It would appear the City liked the change of CEO ???

[togglebrush] 23/9/2015 06:35

RNS New CEO and Trading Update
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Headline
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Pre-close Trading Update
Total sales growth for the first 50 weeks of the year was 7.0%, with like-for-like sales growth of 1.0%.
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Note
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RNS statement welcomes a new CEO before it concedes that it has jettisoned its existing CEO and this, just maybe, a little rude.

[mike740] 10/9/2015 11:35

Mitchells & Butlers plc Receives Consensus Recommendation of “Buy” from Analysts (LON:MAB)
September 9th, 2015

Mitchells & Butlers plc (LON:MAB) has received an average recommendation of “Buy” from the sixteen research firmsthat are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and nine have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is GBX 466.58 ($7.09).

A number of brokerages recently issued reports on MAB. Citigroup Inc. restated a “buy” rating and set a GBX 495 ($7.52) target price on shares of Mitchells & Butlers plc in a report on Monday. Canaccord Genuity reiterated a “buy” rating and set a GBX 500 ($7.59) price objective on shares of Mitchells & Butlers plc in a report on Friday, July 24th. Goodbody Stockbrokers Ltd reissued a “buy” rating on shares of Mitchells & Butlers plc in a research report on Thursday, July 30th. JPMorgan Chase & Co. cut their price target on Mitchells & Butlers plc from GBX 470 ($7.14) to GBX 440 ($6.68) and set a “neutral”; rating on the stock in a research report on Wednesday, July 29th. Finally, Barclays reissued an “equal weight” rating and set a GBX 500 ($7.59) target price on shares of Mitchells & Butlers plc in a research note on Wednesday, July 22nd.

Shares of Mitchells & Butlers plc (LON:MAB) traded up 1.7782% during mid-day trading on Wednesday, hitting GBX 360.6000. The company had a trading volume of 130,412 shares. Mitchells & Butlers plc has a 1-year low of GBX 316.00 and a 1-year high of GBX 485.10. The company’s market capitalization is GBX 1.48 billion. The company has a 50-day moving average price of GBX 374.17 and a 200-day moving average price of GBX 427.60.

Mitchells & Butlers plc is an operator of pubs managed eateries and bars. The Business provides a selection of eating and drinking -out. The Business operates in the UK. The Company’s brands include Sizzling Pubs, Vintage Inns, Harvester, Ember Inns, Toby Carvery, Crown Carveries, Fortress, Nicholson’s, Premium Country Dining Group, O’Neill’s, Alex, All Bar One, Village Pub & Kitchen, Miller & Carter, Browns, Innkeeper’s Lodge and Oak Tree. The Organization manages approximately 1,700 restaurants . and pubs

[mike740] 07/9/2015 09:39

07 Sep 2015 Mitchells &... MAB Citigroup Buy 359.75 358.80 - 495.00 Reiterates

Sp Target 495p