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Investor discussions regarding British American Tobacco Plc (BATS) over the past week reflect a mix of cautious optimism and concern stemming from recent performance metrics and market behavior. The stock has seen significant volatility, with discussions indicating a current range between £2980 and £3400, amidst technical analyses revolving around gaps and support levels. Investors expressed dissatisfaction with below-expectation next-generation product (NGP) growth, leading to a steep decline in share price, with some anticipating a potential recovery as support begins to hold around 3000 pence. One investor aptly noted, "Nothing to do with silly gap theory... It has a low PE, it has a dividend of 8%," underscoring the allure of BAT’s fundamentals amidst the fluctuations.
On the financial front, there was talk of a 2024 dividend increase to 240.24p, suggesting a yield of approximately 7.6%, which continues to attract income-focused investors. Yet, some participants raised alarms regarding increasing regulatory headwinds and potential divestments, particularly the possible future sale of BAT's stake in ITC Hotels by 2026, and the concern that management's ambitious revenue targets from smoke-free products might be overly optimistic. Adding to the dialogue, one investor remarked, "If growth and market share in next gen is the key to future sustainability... bats strikes me as the favourite," reflecting a belief in BAT's long-term potential despite current challenges. Overall, sentiments remain split, with many investors holding firm on their long-term positions while others express wariness regarding market entry points.
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British American Tobacco Plc (BAT) has been active in share buybacks, having executed several purchases between February 13 and February 17, 2025. The company purchased a total of 381,984 ordinary shares at varying prices, with the highest per share price reaching 3,188 pence. Following these transactions, BAT intends to cancel the purchased shares, which will reduce its total shares in circulation to approximately 2.2 billion excluding treasury shares. This move is part of a larger buyback program initiated on March 18, 2024, with the aim of managing share capital and enhancing shareholder value.
In addition to the share buybacks, BAT reported a return to profit for the financial year ending December 31, 2024, following a notable provision of GBP 6.20 billion to cover liabilities related to legal challenges in Canada. While this provisional loss has raised concerns, the company remains confident about its profitability trajectory, although it has cautioned about possible future headwinds. BAT has also published its annual financial report and submitted necessary documentation to regulatory authorities, reinforcing its commitment to transparency amidst these developments.
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Anyway, still raking in pre tax profits of 10b per year lol |
We need them to ban unregulated vapes and just let those that pass the test remain then see this soar! |
2900 works for me |
Fund managers I assume are fuming at the CEO.But it's a cash cow and according to this analyst the dividend is safe.I expect it to be raised next year.https://www.bar |
HL’s Clayton sees BATS growth expectations go up in smoke |
RBC cuts British American Tobacco price target to 2,900 (3,500) pence - 'sector perform' |
Round two!! these random burst upwards (sometime see as fixed size AT trades) been coming in for weeks, shorts covering and funds running for exdiv.. looking great here in the last 24 hours. Nice that the update is out the way... |
PM's debt is $47.8bn after the Swedish Match takeover.....hardly peanuts |
PM have just announced a $1.30 divi for this quarter after all......Will PM or Altria announce a similar write down with their US brands? |
I think this CEO has done enough kitchen sinking in the update from yesterday.I don't see any need for a dividend cut at this moment when NGP has just broken even in 2023 and moving into profit in 2024. |
we will see??? |
it looks like the market is pricing in a cut in the dividend.£35 to £23 fall in the share price in a year says a lot about what the market thinks about bats debt load as well |
Thanks, just looked it up. Very funny |
A weeks paypacket |
ValueHurts: I cannot believe you would advocate selling the ITC stake to then sqiander those proceeds on a share buy-back. Incredible. |
India now has the worlds largest population, having surpassed China. There is huge potential to eventually replace popular but carcinogenic chewing tobacco with tobacco-free oral pouches. BAT need not rush to sell. |
I think selling ITC is not the answer. This at least gives them divestments from actual business and focus in India which is a growing massive market. Focus on the costs and the strategy for revenues over next 2-3 years is the key. Not what could happen in 10-30 years. Their cash flow is enviable to the world so need to use their strengths to maintain margins |
Hopefully they can sell the ITC stake but who would be able to buy it? If they could we could clear a massive chunk of debt and get those buybacks going. My thoughts are that they are unable to sell. ITC is a conglomerate these days with property, packaging etc. well away from its core business. 28p/e and poorly run. |
She's revving up nicely... |
Matt, arguably more of a swing trafe now than a longer term investment. |
Not really surprised by those figures above. |
Goldman Sachs cuts BAT price target to 2,700 (2,750) pence - 'neutral' |
I guess that a major part of the write-down is goodwill arising from taking over other companies in the past. Goodwill is part of the cost of acquisition and is not taxable. Any physical assets will be allowed for taxation within existing laws and time frames and will therefore not make any difference either as the rates of depreciation used by companies are not necessarily the same as the rates of capital allowances. |
Type | Ordinary Share |
Share ISIN | GB0002875804 |
Sector | Cigarettes |
Bid Price | 3,007.00 |
Offer Price | 3,008.00 |
Open | 3,017.00 |
Shares Traded | 177,839 |
Last Trade | 08:19:37 |
Low - High | 2,982.00 - 3,024.00 |
Turnover | 26.21B |
Profit | 3.07B |
EPS - Basic | 1.4794 |
PE Ratio | 20.29 |
Market Cap | 62.73B |
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