Firstgroup Investors - FGP

Firstgroup Investors - FGP

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Stock Name Stock Symbol Market Stock Type Stock ISIN Stock Description
Firstgroup Plc FGP London Ordinary Share GB0003452173 ORD 5P
  Price Change Price Change % Stock Price Last Trade
-5.10 -5.39% 89.50 16:35:04
Open Price Low Price High Price Close Price Previous Close
99.00 88.30 99.00 89.50 94.60
more quote information »
Industry Sector
TRAVEL & LEISURE

Top Investor Posts

DateSubject
09/11/2020
11:22
joestalin: FirstGroup plc Statement re: Covenant amendment and liquidity update As previously indicated in the trading update of 15 September 2020, FirstGroup plc (‘FirstGroup’ or the ‘Group’) expects to report a small adjusted operating profit for the seasonally weaker first half of the current financial year. This result would be ahead of the base case scenario outlined in the full year results announcement earlier this summer. As also previously stated the 30 September 2020 covenant tests are expected to be comfortably met when the accounts for the period are finalised. However, whilst the Board is confident that the balance sheet is now robust in a range of downside scenarios, as a matter of prudence the Group determined that it is an appropriate point to secure enhanced financial flexibility from its lenders for the next two covenant testing dates, covering the typical period of twelve months. The Group has therefore agreed covenant amendments for the 31 March 2021 and 30 September 2021 tests with its lending banks and USPP investors on similar terms. The net debt:EBITDA covenant has been amended to less than 5.5 times and then 4.5 times for the March and September tests respectively (compared to 3.75 times normally). At both testing dates the fixed charge covenant has also been amended to greater than 1.0 times (compared to 1.4 times normally). The Group has agreed that net debt including rail ring-fenced cash will not exceed £2.0bn and minimum liquidity levels of £150m will be maintained during this period. The Group’s free cash (before rail ring-fenced cash) and undrawn committed revolving banking facilities has remained broadly stable at c.£810m as at 6 November 2020. The Group has ‘investment grade’ long-term issuer credit ratings from both Fitch Ratings and S&P Global Ratings. The Group will continue to take all prudent and appropriate action to ensure that it emerges from the pandemic in the most robust position possible
09/10/2020
14:42
captain stock: I totally agree, when it moves it will do so quickly. Market Cap is silly at the moment.4 billion just for the US side of the business. First Student operates 42,500 of the distinctive bright yellow school buses in the US and Canada. The First Transit division is one of the biggest providers of public transport across North America, used by 324m passengers each year, according to the company's website.FirstGroup today put its huge North American contract buses operations up for sale for around $4 billion after more than a year of pressure from an activist investor.
07/9/2020
20:34
valuetracker: No investor worth their salt is investing in transportation services of any kind at this time. This recent manufactured rise on low volume is simply a transfer mechanism to ensure retail investors carry the risk of holding until the market stabilises. 20p is the target.
29/5/2019
13:46
connorcampbell: !YOUTUBEVIDEO:uvxsElaHcuI: Will FirstGroup hit at speed bump following Thursday’s full year results? The main reason for its recent rise is speculation that the firm could be broken up. Coast Capital Management are trying to force change at the company with a list of demands, top of which being the separation of its US assets – which includes Greyhound, First Transit and First Student buses, alongside the A-Train – to generate £3 billion in re-investable capital. It also thinks FirstGroup should remove itself from the British railway arena, a move that would effectively hand the West Coast Mainline to a consortium led by the Chinese state-owned Guangshen Railway Company. Coast Capital also wants a serious shake-up at the top. Investors will want word of when the rescheduled general meeting requested by Coast Capital will happen, alongside an improvement at the struggling Greyhound bus division. Read what Spreadex analysts have to say, or watch a 60 second preview, here: https://spreadex.com/?tid=392535
29/5/2019
13:45
connorcampbell: Will FirstGroup hit at speed bump following Thursday’s full year results? The main reason for its recent rise is speculation that the firm could be broken up. Coast Capital Management are trying to force change at the company with a list of demands, top of which being the separation of its US assets – which includes Greyhound, First Transit and First Student buses, alongside the A-Train – to generate £3 billion in re-investable capital. It also thinks FirstGroup should remove itself from the British railway arena, a move that would effectively hand the West Coast Mainline to a consortium led by the Chinese state-owned Guangshen Railway Company. Coast Capital also wants a serious shake-up at the top. Investors will want word of when the rescheduled general meeting requested by Coast Capital will happen, alongside an improvement at the struggling Greyhound bus division. Read what Spreadex analysts have to say, or watch a 60 second preview, here: hxxps://spreadex.com/?tid=392535
21/2/2018
22:09
boraki: HTTPS://www.investorschronicle.co.uk/tips-ideas/2018/02/21/firstgroup-lowers-outlook-on-us-weakness/ IC View The shares fell 13 per cent on the morning of the news, but there is still reason to be optimistic about FirstGroup. Refinancing of the group’s debt will cost a one-off £11m but will save £14m annually from next year. FirstGroup already has much less debt compared with transport peers Stagecoach (SGC) and Go-Ahead (GOG). This is especially true considering its corporate tax rate in the US will fall in percentage terms from the mid-30s to low 20s. We think this still looks like a long-term recovery story. At 85p, or seven times forward earnings, we reckon investors should take advantage of the shares' weakness. Buy. Last IC View: Buy, 94p, 14 Nov 2017
07/1/2017
12:50
pyueck: Until the market has any confidence of this company delivering on any of its promises the share price will struggle. The directors must think investors have memories like sieves. We were promised: - Dividends to rise in line with inflation - Then after rights issue £50m dividend first year and then 2-2.5 times cover going forward - capital spending to peak in ye 2016, it didn't it is still rising - margins to be in double figures in medium term (2013 strategy). We are nowhere near and it's 2017. - the rubbish that we have been flogged about the fall in their biggest cost fuel being the reason for greyhounds problems. It's not, it's cheaper competitors like megabus offering as good/better service at lower costs. I still think at some point this stock could come good. The fundamentals are still pretty solid, if the could just improve margins a bit and if they could negotiate lower interest on bonds this could fly. However in my experience there are some companies that just have a habit of continually disappointing and this is one. The results are usually a catalogue of excuses, low fuel, snow, traffic, rain, strikes, unhappy drivers, not enough drivers etc etc. I guess the company is large and every year some things will go wrong but that should just be business as usual not an annual reason as to why they have missed all their targets. Yet still the directors have done very nicely out of this all....
24/5/2016
21:28
pyueck: The time between results is ridiculous, almost 6 months between update in January and June. Bring back the old reporting, the knowledge gap between investors and management is too large.
19/3/2015
15:20
dealy: UK institutional investors (if there are any left) are notoriously impatient. The mantra "it hasn't gone up so get rid of it and get into something that is going up" is applied constantly. No patience. That's what i think is going on. Not an underlying business performance issue - just a lack of investor patience isssue. Things like this can change.
19/3/2015
13:25
pyueck: Just to add my two pennies. The rail business is in my opinion way overrated by analysts. Rail only provides about 18% of profits from last year. The contracts awarded are undoubtedly lower margin than in the previous round. Yes winning them at a good price would have been nice, but winning them at a bad one would be worse. I also hope that the group is not planning to announce anything nasty at next months results which will explain the recent falls. I think US snow will definitely be a negative impact. Clearly investors are losing patience with the group, I guess with no dividend this share relies on people believing the recovery story. The results recently have actually been OK, with the normal line of we are 'on track'. On track to where though...time will tell?
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