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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| ICAP | IAP | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 469.70 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 469.70 | 469.70 |
| Top Posts |
|---|
Posted at 18/6/2015 16:35 by malcontent my, this is a quiet boardI have held ICAP as a dividend play and continue to so so. Have enjoyed the capital gain too, but I cannot begin to pretend that I fully understand what they do. tut tut, Mr Buffet would NOT approve. |
Posted at 19/11/2014 13:43 by dr biotech Seems a decent enough summary. It wasn't a particularly cheerful statement this morning but they have kept the dividend, which is an increasingly important thing for me. How long they can pay it when its not covered by earnings I am not sure... |
Posted at 19/9/2014 15:58 by mechanical trader Just gone long on IAP ICAP, lovely break through downtrend channel and coming off a recentish bottom. |
Posted at 09/5/2014 18:35 by bend1pa And as expected the news keeps getting worse. I'm beginning to wonder whether IAP is in slow but terminal decline. A div cut must now be a serious factor within the next year. |
Posted at 01/4/2014 11:41 by jeffian Well that wasn't too bad. Consensus £273m is equivalent to about 31.3p eps, so the 22p divi looks safe, if not well-covered. |
Posted at 31/1/2014 02:21 by bend1pa Five brokers downgraded this month, 2 of them down to sub 350p. Every year they downgrade IAP and share price temporarily crashes, then usually recovers after a few months. I'd wait a bit before leaping in. There's at least £55m of fines to write off let alone further litigation against IAP in the States. If the next results are mediocre again this could easily retreat to the 320s or lower again. |
Posted at 13/11/2013 12:31 by mctmct Jeffian:So the interim dividend was slightly higher and (I'm guessing) at the time the directors intended the final to be slightly higher too. Maybe they decided they couldn't afford that but weren't prepared to cut the final below the level that gave the same total as the previous year. It makes me nervous. |
Posted at 05/11/2013 23:42 by jeffian "DividendA final dividend of 15.4p per share is recommended by directors. The full-year dividend will be 22.0p (2011/12 - 22.0p). This reflects the Group's continuing ability to fund this level of dividend as a result of its strong cash generation and the board's confidence in the medium-term prospects for the business. The final dividend is lower than the prior year of 16.0p which is simply a result of this year's interim dividend being slightly higher, at 6.6p compared with 6.0p. The full-year dividend per share of 22.0p is covered 1.5 times (2011/12 - 1.8 times) by adjusted basic earnings per share of 33.0p." |
Posted at 05/11/2013 17:49 by mctmct Why does ICAP pay a dividend that is only 30% covered? |
Posted at 10/7/2013 11:49 by kiwi2007 Canaccord advising a take-profit in a very brief note.BE ICAP's 1Q trading statement reveals: 1Q revenue up 2% on last year Encouraging start but trading conditions remain challenging (e.g. BrokerTec volumes rose 13% but the uplift in revenue reflected volume discounts) Mixed performance across ICAP's businesses (e.g. strong performance from financial futures and options; fall in CDS and commodities) Management's current expectations for the full year remain unchanged BE The default Quest value of 279p a share reflect the cash return on invested capital over the past decade and consensus forecasts, which are in our view unnecessarily pessimistic. BE At 400p a share ICAP shares are up 30% year-to-date and are trading on a dividend yield of 5.5%. While this is attractive and ICAP's cash generation is strong, the payout ratio is high. We see the dividend as being sustainable but see little prospects for growth. We maintain our 300p price target (set in November 2012) and change our recommendation from hold to SELL. PM Hmm PM Espirito are neutral PM Phil Dobson PM ICAP today released its IMS for the period 1st April to 10th July. The company states that the encouraging start to the financial year has continued through Q1 as the prospects of tapering QE stimulated volatility in US Treasuries. Also US SEF rules have reduced regulatory uncertainty in the industry. Some areas of the business remain challenging, with commodities contracting as investment banks cut trading in this area and the current low interest rate environment has constrained demand for the risk mitigation services provided by Reset and Rematch. Overall therefore group revenue for the quarter was 2% ahead of the same period last year. Given the strong performance of the shares running into the Q1 IMS, we feel that the market may be disappointed with the mixed trading performance even though at 2% revenue is slightly ahead of our 1% 1H estimate and 1.5% for the year. ICAP trades on a 2014E PE of 11.7x and yields 5.5%. PM Business performance - Post Trade Risk and Information: Trianna continues to grow in Q1 as it gained market share, while Reset and Rematch were impacted by low interest rates with little change at the short end of the curve. Information revenue has been impacted by a decision to end certain data sales from EBS. - Electronic Broking: BrokerTec has been the star performer over Q1 with average daily volumes up 51% in the quarter. The company points out that the uplift in revenue was less pronounced than the growth in volumes reflecting the volume discount tariff structure. - Global broking: activity varied across different products with strong performance in financial futures and options given recent volatility. Equity derivatives performed well while activity in credit and commodities declined. ICAP (IAP LN, 400p, Neutral, FV 353p) PM Looks attractive to me -- a 5.5% safe yield PM But then i did go on a recent junket with the firm... PM BE (@Makeyourmindup: Tullett rumour last spotted in May, so perhaps we have another 10 months to wait. ) BE Well, you say "safe" BE Possibly better to say "covered" BE Because if Libor goes against them, the decision on whether or not they pay a divi ends up with the regulators. PM Yeah, fair enough BE As we've already seen with the banks, who were all blithely intent on paying divis in 2008. Didn't quite happen that way. BE (Not that I'm drawing a direct comparison. To be clear.) FTAlphaville. |
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