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BATS British American Tobacco Plc

-4.00 (-0.16%)
01 Dec 2023 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
British American Tobacco Plc LSE:BATS London Ordinary Share GB0002875804 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  -4.00 -0.16% 2,508.00 2,299,293 16:35:26
Bid Price Offer Price High Price Low Price Open Price
2,506.00 2,507.50 2,532.00 2,490.50 2,517.50
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Cigarettes 28.38B 6.67B 2.9906 8.38 55.87B
Last Trade Time Trade Type Trade Size Trade Price Currency
18:05:52 O 10,000 2,517.50 GBX
Related Shares
Imperial Brands (IMB)

British American Tobacco (BATS) Latest News (2)

Smart Money!
BATS is a large holding in the following funds:
 Fund  Percentage of Fund  Last Updated 
 BMO UK HIGH INCOME TRUST PLC 8.22% 2022-05-31

British American Tobacco (BATS) Discussions and Chat

British American Tobacco Forums and Chat

Date Time Title Posts
02/12/202313:55British American Tobacco7,885
11/5/202309:01Recent broker forecast 5
02/1/201921:29British American Tobacco (BATS) One to Watch on Thursday 1
14/11/201409:11British American Tobacco - HOW MUCH HIGHER208
15/10/201414:40TipTV: What would Maria Psarra do with BATS?-

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British American Tobacco (BATS) Top Chat Posts

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Posted at 02/12/2023 08:20 by British American Tobacco Daily Update
British American Tobacco Plc is listed in the Cigarettes sector of the London Stock Exchange with ticker BATS. The last closing price for British American Tobacco was 2,512p.
British American Tobacco currently has 2,229,000,000 shares in issue. The market capitalisation of British American Tobacco is £55,869,885,000.
British American Tobacco has a price to earnings ratio (PE ratio) of 8.38.
This morning BATS shares opened at 2,517.50p
Posted at 16/11/2023 13:09 by redbaron10
I agree MCunliffe.The interest rate environment was clearly on an upward trajectory at that stage as it was well sign-posted by the US Federal reserve.They were raising rates and diminishing their balance sheet after years of QE.That was clearly a time for the BATS CFO and board to make some paying down of debt a priority.The BATS share price now is suffering from its debt overhang to a large extent imho.
Posted at 15/11/2023 12:40 by redbaron10
With consumers trading down to cheaper brands due to the cost of living pressures i don't think the share price here is going anywhere fast tbh.The trading update in December will reveal if brands like Dunhill,Kent and Lucky Strike have been affected by trading down to other cheaper brands and therefore how impactful it has been to profit margins at BATS as a result.Altria and IMB have reported flat revenues,with increased profitabily and i'm hoping for the same here.Profitability and NGP growth metrics are going to be key in the December report imho.Some buybacks would be a sign of confidence to the market and some debt reduction a bonus.I'm not expecting a dividend increase for 2024.The fall in global stick volumes is a known known so hopefully that's already reflected in the share price at its current level.What we don't want is some 'Diageo'-like event where they suffered big drops in volumes in S.America and it tanked the share price there ie an unexpected left-field event that no one could've predicted.
Posted at 13/11/2023 05:16 by kiwi2007
Wall Street Journal: Pretty good run down on the state of the market.

Big Tobacco Can No Longer Name Its Price — Heard on the Street — WSJ
Nov 5, 202301:00 GMT+13
By Carol Ryan

America's cigarette market is in flux, and new smoking habits threaten to singe makers of pricey brands the most.

One of the attractions of investing in tobacco stocks has been cigarette manufacturers' amazing ability to continuously grow their profits through price hikes, even though the industry is in long-term decline. This helps cigarette companies pay generous dividends to their shareholders.

In a potential red flag, though, cigarette profits at Marlboro-maker Altria fell from a year earlier in its latest quarter. The company wasn't able to raise prices enough to offset falling sales. The same thing happened in 2018, when Juul e-cigarettes were rapidly grabbing market share from old-school smokes.

The problem for tobacco companies is that the American cigarette market is shrinking faster than anyone expected. Over the three months through September, the number of sticks sold across the industry fell 8% year-over-year, almost double long-term averages. Smoking trends became less predictable during the pandemic and never settled back to normal.

Something has happened to underlying demand. Altria thinks illegal disposable vapes are now taking customers from cigarette companies. The market for these vapes is booming, growing 20% so far this year according to Barclays estimates. If Altria is right about the trend, better enforcement by the Food and Drug Administration could help to stabilize cigarette volumes.

But the tobacco industry's customer base is also getting older and dwindling as fewer young people take up smoking. Two decades ago, a fifth of U.S. smokers were aged 50 or older. This figure will reach 50% by 2030 according to Vivien Azer, analyst at TD Cowen.

Expensive cigarettes such as Marlboro or Newport, which is made by British American Tobacco, face a double whammy. Smokers have also become much more sensitive to prices as inflation remains sticky, leading to widespread switching to cheaper brands.

The difference between a $5 and $9 pack of cigarettes is partly the quality of the tobacco blend. But smokers of "premium" cigarettes also pay through the nose for branding and posher packaging such as embossed lettering and thick cardboard boxes that feel more luxurious. At a national average of $8.77-a-pack including taxes, Marlboro is now 43% more expensive than cheaper rivals, according to Altria data, compared with 31% five years ago.

This fat price gap is a gift to smaller brands that are grabbing market share. According to Vector Group, whose Montego brand is now the biggest discount cigarette in America, volumes of the cheapest cigarettes rose 15% over the 52 weeks through September, compared with an 11% decline for the priciest smokes. Imperial Brands is also benefiting from smokers trading down. The London-listed company has grown its share of the U.S. cigarette market from 7.7% in late 2018 to 9.2% today, according to Bernstein estimates.

Big tobacco companies are scrambling to hang on to smokers. BAT cut the price of its Lucky Strike cigarettes by 50% in 2021. The strategy appears to be working, as Lucky Strike has grown its share of the U.S. market to 4% from almost nothing in two years, based on Bernstein analysis. BAT is still losing share of the U.S. market overall, however.

Altria won't do anything as dramatic. Thirty years ago, the company cut the cost of Marlboros by 20% as a price gap had opened up between it and cheaper brands. The shock move tanked its share price by more than a quarter and became known as Marlboro Friday.

Marlboro's owner hopes the worst may be over. Altria executives point out that the market share of deep discount cigarettes has been stable for three consecutive quarters. But slowing their march has been expensive. Altria is offering promotions to Marlboro smokers to boost volumes. It also launched a cheaper line of cigarettes, Marlboro Black Gold, which accounts for around one-tenth of the Marlboro franchise overall. These moves help, but at the expense of profits.

Major tobacco companies face a delicate balancing act. They need to squeeze as much income as possible from traditional cigarettes so that they can invest in new smokeless products like heated tobacco sticks or oral nicotine pouches that are increasingly the industry's future.

That task will be much harder so long as cheaper cigarettes and illegal vapes are inhaling their market share.

Write to Carol Ryan at
Posted at 10/11/2023 15:48 by worldwidet
Looking at the fundamentals and valuation of BATS and PM, I have to conclude that either BATS is grossly undervalued (assuming PM is fairly valued) or PM is grossly overvalued (assuming BATS is fairly valued)

I assume the former. BATS is extremely undervalued compared to PM.

BATS is an FCF machine with moderate growth tendencies.

Strongly positioned in new categories, second only to PM and leader in vaping.

BATS is more diversified regionally and across products than PM.

BATS' valuation offers plenty of room for improvement.

I would definitely feel more comfortable with BATS than with overvalued US stocks.

If BATS falls by 8-10% in a broad market panic sell-off I will probably buy. 10.5% dividend yield would be too tempting and with a payout ratio of less than 60% on FCF a safe bet.

As they say, if the dividend is higher than the FCF valuation you should be able to assume an attractive valuation.

BATS ... you should keep an eye on it...
Posted at 24/10/2023 10:25 by mcunliffe1
I have a modest holding in BATS of £5,000 gaining me 182 shares on my first purchase (for BATS) on 19 Sept '23.

Looking at a 10 year share graph I see the share price was over £55 on 1st May 2017.
Interestingly, the most recent high point was 20 Sept '23 just one day after I bought.

I am tempted to invest a further £5k at these low prices (£24.31 as I write this) if only to reduce my average price. But, IS THIS THE LOW POINT?

The 29% of ITC Limited (NSE:ITC) that BATS own is worth 29% of £54bn - about £15.6bn (this is based upon the ITC cap. of 5.44 trillion Indian Rupees and each Rupee is worth about 1p )

I see little wrong with investing more - it's just a timing issue.
Posted at 20/10/2023 17:49 by mcunliffe1
I bought BATS in mid September. Earlier this evening I found this (below) on the IG website:

".....The shares have been hit for six this year due to BATs being fined $635 million for selling $30 million of cigarettes to the Singaporean Embassy in North Korea – breaking US sanctions – and processing $250 million from sanctioned North Korean banks through US institutions. The shocking scandal ended in the exit of previous chief executive Jack Bowles from the company and former finance director Tadeu Marroco taking over the reins as CEO. As such, the shares are down 24% this year and are likely to take some time to recover from the debacle. ....."

This may be old news to you all as it could have happened earlier this year.

The IG report continues as follows:

"..... However, its financial results continue to be strong, with half-year revenues up 4.4% to £13.4 billion (2.6% at constant currency rates), while sales from its new vaping products rose 27%. These next generation products now account for 17% of BATs’ group revenues. Cash conversion rates remain in excess of 90%. Profitability from its vaping products is now expected a year earlier, in 2024.

While the share price slide is disappointing for investors, the dip offers a decent entry point for new investors.
Posted at 04/10/2023 14:29 by stevensupertrader
Mcunliff1 here is a good example of why Sunak can affect BATs share price .
Bats will be under £24.50 today and might even go under £24 very soon.
Posted at 19/9/2023 13:53 by mcunliffe1
Hello all.
First post on this thread - but recognise some familiar names from Phoenix, LGEN and other high yielding share boards. Hi monty.

I need to diversify my SIPP as I'm quite loaded on LGEN and PHNX - 65% of my total shares investment to be precise.

I like high yielding, fully understand the share price will move around but aim to buy low and get my average even lower should the opportunity arise - hence, bought more LGEN and PHNX recently.

Not having studied BATS too closely since a brief look in March 2023 I'd appreciate your comments about next ex-div date and current share price


Posted at 15/8/2023 14:44 by essentialinvestor
Dave, I looked at the Feb 2000 share price of below 3 GBP to the July 2017 price of circa 56 GBP.

Woodford made his initial reputation on stocks like BATS and assets under
management at WEIF peaked about the same time as the BATS share price
Posted at 11/8/2023 10:17 by stevensupertrader
bATS at current share price yields over 9% .
This counter kept falling almost 30% down from 2022 high .
Is it a good investment ?
Is it time to buy to average the share price -
Many that bought last year, might have bought more to average when BATS fell under £30, £29 ,£28, £27 and £26 thinking this is a no brainer BUT now nursing with a heavy average loss . Looking at the way BATS is falling , under £25 will come very soon with my decades of trading .
British American Tobacco share price data is direct from the London Stock Exchange

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