Imperial Brands Share Discussion Threads

[philanderer] 17/11/2023 14:01

Goldman Sachs raises Imperial Brands price target to 2,300 (2,280) pence - 'buy'

[garycook] 17/11/2023 13:36

LLB,and Salty. Ditto

[laurence llewelyn binliner] 17/11/2023 13:24

#Saltiaire11, good work, same here, I doubled down in the Covid lows of 2020 and need another 5-6 years for breakeven from dividends alone, the share will probably still be worth GBP20+ after 100% payback.. :o)

XD next week, nice pre event share price rally underway..

[saltaire111] 17/11/2023 12:48

I’m in both BATS and IMB. Both are doing well for me. Within the next five years, I will have received my entire capital investment back in cash dividends and will hold the stock FOC. I started to invest in these two five years ago.

Amazing that this opportunity is still available.

Salty.

[tuftymatt] 17/11/2023 11:54

Hedge like me monty and back them both!!

Think of the divi's 😂

[montyhedge] 17/11/2023 11:49

Imperial very impressive I'm in Bats wonder if I have backed the wrong horse, lol.

[cw2000] 17/11/2023 11:27

Thanks Red

[redbaron10] 17/11/2023 10:26

HL has IMB ex-div date 23/11

[cw2000] 17/11/2023 10:12

Does anyone know when this goes XD?
Possibly next Thursday.
I can't find the info on their website
Ta

[redbaron10] 17/11/2023 09:15

Broker forecasts should always be taken with a pinch of salt.In house brokers for a particular company will always put a positive spin on results while more objective brokers give their consensus.Learnt my lesson with growth stocks like Ted Baker,Asos,Boohoo and Superdry.When these companies were growing it was buy buy buy all the way with brokers.Look at where the sps of all these companies are languishing now.Brokers have no more of a crystal ball than personal investors imho.

[tuftymatt] 16/11/2023 08:24

Yeah Spud it's embarrassing that they put out these kind of statements on a regular basis.

I remain hopeful we can hit and hold a new 6 month high before Christmas but think 2000 may be difficult in that timeframe. Either way I am a holder for the divi here.

Good luck all 👍🏻

[spud] 16/11/2023 08:20

Jefferies has a 'hold' recommendation and target price of 1,636p, down from 1,670p previously. These brokers just don't make sense and never have. If they think the price should be 16 quid and change and it's currently trading at 18 quid, why would they recommend a hold? Surely it's a sell.Doesn't really matter as their predictions are about as accurate as a drunk playing darts trying to score 180 from a distance of 40 ft.spud

[philanderer] 16/11/2023 00:10

Imperial Brands' 15% ‘actual’ yield highlights growing risks - Jefferies


Imperial Brands PLC (LSE:IMB)'s results showed again it is very good at selling cigarettes but maybe not next-generation products, says Jefferies.

The full-year numbers were “decent”, especially organic earnings growth of 3.9% and the 5% target for this year, the bank added.

In a market that is focused on cash returns, Imperial also looks compelling, says Jefferies: “Its current buyback and divi yield is in excess of 15%."

Jefferies acknowledges that Imperial's combustible profit delivery is among peer best, as pricing and efficiencies more than offset volume pressures.

But that is where the good news stops, suggests the US bank.

“Increasingly significant pressure on combustible [cigarettes] volumes can't be offset by pricing/efficiencies forever,” it argues.

Growing risks are the ever-rising tide of health and regulatory pressure and while headline cigarette share was up across core markets this was largely driven by the US alone, where trends have recently slowed.

Jefferies has a 'hold' recommendation and target price of 1,636p, down from 1,670p previously.

Shares today were up 2.25% at 1,842p


proactiveinvestors.co.uk

[philanderer] 15/11/2023 14:34

Jefferies cuts Imperial Brands price target to 1,636 (1,670) pence - 'hold'

[marktime1231] 15/11/2023 13:30

Drat missed the boat here will park my cash somewhere else until the New Year.

[philanderer] 14/11/2023 19:37

Investors Chronicle:


The shares trade hands at only 6 times forward consensus earnings. This cheap valuation, combined with a high dividend yield, reflects the market’s fears about regulatory headwinds and the secular decline in tobacco smoking. Hold,/b>.

Last IC view: Hold, 1,859p, 16 May 2023

[laurence llewelyn binliner] 14/11/2023 14:26

#Fenners66, indeed, managing a business in decline, combustibles volume is only going 1 way for sure in the UK, ROW depends on local legislation, but not all are nanny states like we are having decisions made for us..

I will hold here for another 10-20 years and whatever the share price is at the end will be a profit from 2029 so take a less aggressive view towards the SP, but you are correct bringing the debt leverage down would add value too, 2.5*EBITDA seems to be the BOD comfort zone so we will have to get our money back from dividends and the BB incremental share price growth instead for now..

[marktime1231] 14/11/2023 14:22

Hmmmn. Not sure whether I am pleased with that or not, but no real surprises since the trading report.

I certainly don't like the repeated use of the word "accelerated" to describe progress which in reality is flat to modest, albeit the best we can hope for in the death stick business. Bomhard trying to talk the numbers and himself up. Progress in net debt reduction stalled in the £8-8.4B range also disappointing.

The idea that a 4-5% improvement in net profit plus a 4-5% reduction in shares only translates to a 4-5% dividend increase is hard to square, especially when inflation has been well above. Surplus cash flow is all going in to an expanded buyback already underway, reflecting how cheap they think the share price is perhaps, but the share price has not responded so positively this time. Don't tell fenners but for now it does not feel like we are getting a fair return either way.

Despite all of which the yield here remains excellent and the continuing share reduction will embed that. So despite the slight disappointments I will look to add on share price weakness before ex-div, I dithered at 1725 hoping for something lower and will be watching for another chance at that level.

[speedsgh] 14/11/2023 11:47

Today's announcement in full here -

Dividend payments

The Group paid two interim dividends of 21.59 pence per share in June and September 2023.

The Board has approved a further interim dividend of 51.82 pence per share and will propose a final dividend of 51.82 pence per share bringing the total dividend for the year to 146.82 pence. This represents a 4.0% increase to the amount of 141.17 pence per share paid in the prior year and is in line with the Group’s progressive dividend policy.

The annual dividend represents a payout ratio of 52.7% with respect to basic earnings per share.

The third interim dividend will be paid on 29 December 2023 to shareholders registered on 24 November 2023. Subject to AGM approval, the proposed final dividend will be paid on 28 March 2024 to shareholders registered on 16 February 2024.

[epo001] 14/11/2023 11:28

Dividend payments 51.82p on each of 29/12/23 and 28/3/24

[laurence llewelyn binliner] 14/11/2023 11:10

#Fenners66, fair points, but, if the company are buying back 10% of the shares in 2024, the result should be a 10% gain on the EPS and saving on the DPS payout, if the share goes up 10% we could sell a few throughout the year to make up for the 'only' 4% payout gain, I also hold for the income so the share price is largely irrelevant, but in 6 years time on a total return basis these will owe me nothing, you may well be ahead, but I take the overall cost into account..

[fenners66] 14/11/2023 10:57

>Laurence Llewelyn Binliner
"Fenners66, we got a 4% dividend raise and a 10% buyback increase reducing share capital.., not so bad when considering the impact on the share price over 2024.."

Perhaps you will note my wording
"Great to know all other stakeholders are rewarded ahead of actual shareholders ......not."

key part being "actual"
buybacks are a zero return to me.
Increase in dividends I could spend a bird in the hand and all that whether an institution a private individual buys shares in the market or the company today makes no difference - if I own the shares for income my dividend income does not rise.
Even cutting the shares in issue and increasing the profit has not increased the amounts paid in dividends as cash is being burned on the buybacks and increased interest opportunity costs...

Put the dividend up by 30% as well and I will approve...

[tuftymatt] 14/11/2023 08:14

Thanks and I think a break and hold is coming soon.

Good luck all 👍🏻

[jrphoenixw2] 14/11/2023 08:12

@Tufty/8363: 'Looking good and can we break 1800??'

It gapped-higher on the open at 1809 (prior close 1788). Now retracing/gap-filling, sadly!