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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Imperial Brands Plc | LSE:IMB | London | Ordinary Share | GB0004544929 | ORD 10P |
| Price Change | % Change | Share Price | Shares Traded | Last Trade
|
|
|---|---|---|---|---|---|
| -12.00 | -0.48% | 2,502.00 | 53,627 | 08:21:30 |
| Bid Price | Offer Price | High Price | Low Price | Open Price | |
|---|---|---|---|---|---|
| 2,501.00 | 2,503.00 | 2,521.00 | 2,496.00 | 2,521.00 | |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| Cigarettes | 32.48B | 2.33B | 2.7496 | 9.10 | 21.28B |
| Last Trade Time | Trade Type | Trade Size | Trade Price | Currency |
|---|---|---|---|---|
| 08:21:46 | O | 40 | 2,502.4115 | GBX |
| Date | Time | Source | Headline |
|---|---|---|---|
| 20/11/2024 | 17:45 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 20/11/2024 | 12:28 | UK RNS | Imperial Brands PLC Holding(s) in Company |
| 19/11/2024 | 17:36 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 19/11/2024 | 09:20 | ALNC |  TOP NEWS: Imperial Brands posts flat sales but picks up market share |
| 19/11/2024 | 07:00 | UK RNS | Imperial Brands PLC Final Results |
| 18/11/2024 | 17:18 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 18/11/2024 | 13:30 | ALNC | EARNINGS PREVIEW: Imperial Brands profit up despite tobacco scrutiny |
| 15/11/2024 | 17:18 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 14/11/2024 | 17:07 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
| 13/11/2024 | 17:28 | UK RNS | Imperial Brands PLC Transaction in Own Shares |
Imperial Brands (IMB) Share Charts1 Year Imperial Brands Chart |
|
1 Month Imperial Brands Chart |
Intraday Imperial Brands Chart |
| Date | Time | Title | Posts |
|---|---|---|---|
| 20/11/2024 | 20:36 | Imperial Brands PLC (formerly Imperial Tobacco) | 8,971 |
| 31/7/2020 | 13:48 | IMPERIAL BRANDS | 2 |
| 26/9/2019 | 07:25 | Imperial Brands Podcast on Trading Update | - |
| Trade Time | Trade Price | Trade Size | Trade Value | Trade Type |
|---|---|---|---|---|
| 08:21:47 | 2,502.41 | 40 | 1,000.96 | O |
| 08:21:30 | 2,502.00 | 7 | 175.14 | AT |
| 08:21:05 | 2,502.00 | 5 | 125.10 | O |
| 08:20:56 | 2,501.68 | 18 | 450.30 | O |
| 08:20:52 | 2,501.00 | 1 | 25.01 | O |
| Top Posts |
|---|
Posted at 22/10/2024 23:09 by dmore2 #IMB share price to overtake Bats |
Posted at 14/10/2024 12:40 by laurence llewelyn binliner Consider when in FY2016 the share price was 4000 pence vs FY2023 (2000 pence) and 2250 pence now plus we have had the share buybacks on top to reduce the share capital for 2024/2025..SP 4000 pence / 2000 pence EPS 249.6 / 252.4 pence DPS 155 / 146 pence Operating profit GBP 3.5BN / 3.4BN Net debt GBP12.8BN / 8.4BN (-35%) Shares in issue 1.036BN vs 844M today (-18.5%) The company is well positioned, debt much reduced, the share price has a lot more catching up to do.. :o) If we look at the EPS/DPS being broadly similar there is a good argument for 5000 pence per share based on the reducing shares in issue, and the drop in net debt, 2500 could be just for starters as reducing inflation/interest rates drives funds looking for high yield stocks.. |
Posted at 03/9/2024 10:52 by marktime1231 The IMB share price cycle might have peaked for now, or it may well continue upwards. We are heading in to big dividend season so let's watch and see, I'm hoping for more progress.The upward pressure comes from the significant ongoing buyback, the belief at some stage there will be industry consolidation eg a merger with BAT, and the excellent yield while interest rates are starting to fall. The p/e here still says IMB is cheap rather than a risk-adjusted full price, whatever that is ... £24-25 perhaps. It may well be the case that IMB's ability to price up to counter falling volume will run out of steam. I don't buy the "accelerated" decline scenario, but yes tobacco volumes will continue to fall. Judging when to exit is always hard, but I understand the sentiment that at some stage we will all want to be out of this death stock. I have taken considerable capital gain by selling down some of the stock added when the share price was dirt cheap 4 and 5 years ago. Keeping the rest for now. The pre-finals trading update on 8 October worth waiting for. Of course taking the opportunity to pursue stocks where you see a better upside is a great reason to move on. Where to invest to capture the boom from falling interest rates is something we should all be considering. |
Posted at 02/9/2024 22:51 by wunderbar I last posted on this bb on 22 Nov 2022 with the share price at 2185p. I was optimistic we might hit my breakeven/exit point 2400p within 3-6 months given positive momentum at the time. Instead, it turned out to be yet another false dawn. As it transpired, 2185p turned out to be the high point of 2022, thereafter the share price embarked on a 10 month steady decline losing 632p [-29%] bottoming out at 1554p in Oct 2023. Talk about a kick in the b0ll0x.During this period I added to my position to get my average down to 2280p. Today, almost 7 years after my initial purchase, I finally pulled the trigger and bailed out at 2193p. I mentioned in my last post I was determined to claw back my entire stake despite being comfortably in profit if I included dividend income over the years. However, I reluctantly accepted defeat and booked a capital loss of 3.9%. If I factor in dividend income [inc. capital loss] it works out my investment has generated an average yield of 4.76% per year. All in all IMB has been a poor investment for me. As I’ve previously mentioned, my cardinal sin was averaging down too frequently during 2018-2019, this gung-ho approach spectacularly backfired with the share price falling over 1000p during these two years. Who remembers the cries of “it can’t possibly go below 2500p” and “surely won’t go under 2000p”. We all know how that turned out. Some might ask why have I sold up when the share price is only c.90p from my break even point. Well, plenty reasons. First and foremost, IMB has been on a fantastic run since April, climbing 532p [YTD low: 1662p / high: 2194p]. I just can’t see this rise continuing indefinitely, in my opinion it’s starting to look toppy hence decision to sell. Also note IMB hit a five year high today [albeit by a narrow margin] of 2194p before falling back to close at 2183p. I’m very wary we’re back to a similar level seen two years ago when share price peaked at 2185p, then fell off a cliff. Right now it’s hard to tell if IMB’s share price is consolidating at this level before its next leg up, or if we’re now at a point where a correction is imminent. Obviously I’m banking on the latter. But if we do see c.2300p in coming weeks/months then so be it. You win some, you lose some. My priority here is two-fold; firstly, protect my capital, and secondly, reduce my exposure to tobacco sector noting I also hold BATS which I think has more upside potential, a superior dividend, and far greater NGP exposure [noting BATS NGP segment achieved a positive operating contribution in 2023, two years earlier than it originally estimated]. I’m also wary the FTSE is not far off its all-time high. At 8364 it looks bloated to me and I’m worried a sell-off would possibly wipe-out a large portion of IMB’s gains. I don’t want to chance hanging around for another sharp fall in share price I should add it was never my intention to build a significant stake in IMB [significant in relation to size of my portfolio]. This being a result of overzealous buying in 2018-2019. Too many eggs in one basket is never a good idea, something I learned the hard way during Covid crash in March 2020 when IMB tanked all the way down to 1200p. I'm also mindful of future government intervention, further tightening of regulations. In the US the FDA's planned ban on menthol cigarettes is still pending but I'd expect a decision in the next 12-18 months. This is more pertinent to British American Tobacco. Given the accelerated decline in cigarette volumes, particularly US/UK, I have real concerns IMB’s Next Generation Products are not growing fast enough to counter this fall. In May, IMB reported NGP revenues jumped 16.8%, nevertheless this category is still loss making. I fear it's going to take a very long time to accelerate NGP profits to a level comparable to cigarettes. I think NGP growth rate needs to be significantly higher otherwise this could become a major issue at some point. They can't keep plugging the gap with price increases. I came across a Sharecast article back in May titled “pressures are building for Imperial Brands, says Jefferies”. Below are some snippets. Jefferies has lifted its target price for Imperial Brands following a strong set of first-half results from the cigarette, tobacco and vape group last week, but has maintained a 'hold' rating, saying that pressures are building for the company. The broker hiked the target price for the shares from 1,710p to 1,850p. "IMB's 1H24 was very robust. We continue to feel it is over-earning, however, which could mean difficulties at some point," Jefferies said, highlighting two key areas of risk in combustibles and reduced risk products (RRP). In combustibles, the broker said the industry volume backdrop in Imperial's core markets "continues to get worse and we don't see things improving", with first-half volumes in Australia, the UK and US down 25.3%, 15.2% and 8.7% respectively. "The key metric to assess, for us, is its fair share of RRP relative to cigarettes. This is a minimum requirement, in our view. IMB are way away from this hurdle rate on our estimates, with estimated US and EU combustible share in FY23 at 15.0% vs RRP stick equivalent share at 1.4%," Jefferies said. Improving this, the broker said, will require a material uplift in spend. END To close off, I must admit it seems strange no longer having IMB in my portfolio. It was a tough decision to sell but I feel I can put the proceeds to better use elsewhere, specifically targeting companies with potential to make significant capital gains. At this moment in time my top choices are BP, IPO, PZC, CNA and ADIG [all of which I already hold]. But there are plenty more on my radar such as Reckitt Benckiser, Diageo and Burberry to name a few. Would I consider buying back into IMB? Absolutely. But definitely a much smaller stake, and only at a price point I feel offers value for money. For me that would be 1600-1750p. Until then! |
Posted at 20/5/2024 11:37 by marktime1231 Jefferies obviously prefer BAT or something else to IMB. Doesn't like the declining volumes (which are inevitable and more than priced in) or poor NextGen progress (IMB's strategic decision to restrain capex) and thinks IMB are "over-earning" - if that means they think IMB has been profitting off unsustainable price increases maybe they may have a point. But nevertheless they hike the target price in a failed effort to catch up with recent share price improvement.This reads like a poor attempt to justify the fact they have called it wrong and are still doing so. Some analysts are so growth-obsessed they don't know how to appreciate value in a mature market. A pity though that someone has introduced a negative commentary, IMB has settled back when £20 (!) looked on the cards. |
Posted at 12/3/2024 12:44 by marktime1231 Further evidence about the effect of buybacks from BAT which surprised me a little. Not surprised that they are selling off the limited amount of ITC stock which they are free to divest, but I am surprised that they have committed all the proceeds to a buyback. Those of you fundamentally opposed will no doubt be furious, but somewhat cheered by the share price response.It smacks of desperation by Marroco, trying to stop the rot in BATs share price and respond to IMB / market pressure. But it has done the trick, a 3-4% rise since the rumour was outed yesterday afternoon, I suspect 3% will stick for a while. How is the ITC share price responding, where BAT will retain a 25.5% stake, and how much does this reduce future income / cash flow / profit by? Total proceeds of about £1,700M from a 3.5% ITC stake sale? £700M immediately committed to buybacks and it reads like the remaining £1B next year. Equivalent to about 3% of BAT mkt cap. Which is pee-ing in to the wind compared to IMBs programme. Which leaves BAT looking to free cash flow to continue to pay down debt to its modest target range of 2-2.5x ebitda. Which means it has to direct most of it to debt reduction for another 3 years or so. Not much for real dividend improvement nor for sustainable buybacks unless its finds other family silver to sell off. I remain much happier invested in IMB rather than BAT. |
Posted at 05/3/2024 09:55 by fenners66 Probably - they like all deluded management they will start it again when the share price is much higher - buy high sell low - that's what benefits their mates and paymasters the institutions.So much for enhancing the share price through buybacks - back some time in this thread I did some calcs that showed that paying off the more expensive debt would have delivered more EPS and better future cash flow than the buyback. Couple that with the enterprise value only remaining the same would be a potential increase in the share price. Instead we have more debt , more finance cost and a lower share price ! But happy with their liquidity institutions. |
Posted at 01/3/2024 23:58 by marktime1231 You could argue BAT is in the gutter, share price well below the covid lows, which is why the yield prints so high, things must get better from here. It has again raised the possibility of selling its ITC stake but I haven't yet heard how it is going to overcome the obstacles which have prevented it from doing so before now. If it finds a way that will be well received.It is the sheer quantum of BAT debt which put me off, £40B at the end of 2019, so instead I dived in to IMB where the debt was "only" £12B. Its cost cutting focus and debt reduction strategy has been a winner. I have bought and traded some well including adding in the 1200s during covid. Maybe BAT should have cut its dividend too. I have been well rewarded with gains and (my) yield is 10%. But that was then and this is now, as someone famously used to say. Which has the better financial position, the better share price prospect, the better dividend prospect? Very hard to say. But I personally would not touch BAT because it still has about £35B debt and has to plough surplus cash flow in that direction for n years rather than shareholder returns. Until it finds another way. Whereas IMB is removing another 8% of its stock this year, and probably 5% next year, and maybe after that another 5% all of which is concentrating value and translating into dividend growth. The share price decline over the last year is disappointing, unwarranted response to political announcements while financial performance is sustained. Such is life. |
Posted at 08/2/2024 13:14 by marktime1231 Well I don't see what was particularly exciting in BATs results. The thing which may have caused the share price boost is the announcement that it is looking again how to extract value from its India business ITC where it has a 29% stake which might be worth around $18B. It has been under pressure to sell up and reduce group debt but cited regulatory issues. Perhaps those hurdles are now being overcome.Modest revenue and profit performance, a dividend limping forward. Strong organic debt reduction progress, average interest rate has jumped from 4% to 5.2% (which compares to IMBs at roughly 4.8% in FY23), but still heavily saddled with about £36B borrowings (compared to IMBs approx £9.5B), it cannot commit to better dividend progress or buybacks unlike IMB. Next gen has started to make a tiny profit contribution. A 2% increase in quarterly dividends is below inlation. BAT yields about 9.5% compared to IMBs 8% as things stand, so maybe BAT was due an uplift. Quite why that is hurting IMB share price today who knows. |
Posted at 15/1/2024 10:47 by anhar LLB: ...indeed, if the company buy back 10% of the share capital, you would expect the share price to rise 10%...There is no such direct relationship between BBs and the share price You might expect it but you will be disappointed unless sheer blind luck runs your way. I've been a long term income investor mostly in big caps for decades and have observed many of my shares mounting BBs. It's become an epidemic as they're nearly all at it, but there is no clear effect on prices at all. Some rise, some fall, some go nowhere, same as they do without any BB. I've long concluded from experience that BBs do not affect SPs. It's a naive small investor belief that they do, witness the misplaced joy often voiced around here when a company announces a BB in the false hope that it will drive up the share price Short term share prices overwhelmingly fluctuate randomly. Consequently to try and score a capital gain by betting on a BB cannot be a winning strategy over a number of attempts. |
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