Share Name Share Symbol Market Type Share ISIN Share Description
Imperial Brands LSE:IMB London Ordinary Share GB0004544929 ORD 10P
  Price Change % Change Share Price Shares Traded Last Trade
  -15.50p -0.54% 2,853.50p 1,210,690 16:35:13
Bid Price Offer Price High Price Low Price Open Price
2,851.50p 2,852.50p 2,888.00p 2,833.50p 2,866.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Tobacco 30,247.00 1,861.00 147.60 19.3 27,252.4

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Date Time Title Posts
16/7/201822:07Imperial Brands PLC (formerly Imperial Tobacco)994
08/2/201614:36IMPERIAL BRANDS-

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Imperial Brands (IMB) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2018-07-16 15:53:002,840.4044212,554.59O
2018-07-16 15:52:242,857.671,09831,377.26O
2018-07-16 15:52:202,856.631002,856.63O
2018-07-16 15:52:192,866.7743512,470.44O
2018-07-16 15:52:132,859.841263,603.40O
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Imperial Brands Daily Update: Imperial Brands is listed in the Tobacco sector of the London Stock Exchange with ticker IMB. The last closing price for Imperial Brands was 2,869p.
Imperial Brands has a 4 week average price of 2,573.50p and a 12 week average price of 2,362.50p.
The 1 year high share price is 3,529p while the 1 year low share price is currently 2,298p.
There are currently 955,050,863 shares in issue and the average daily traded volume is 1,563,923 shares. The market capitalisation of Imperial Brands is £27,252,376,375.71.
speedsgh: Are tobacco investments going up in smoke? - HTTPS:// ... Favourites Imperial Brands is our pick of the two. Granted, our most recent buy tip hasn’t quite played out as we hoped. Over that time, the share price was hit by bad news, including the collapse of wholesaler Palmer and Harvey, as well as suggestions that the US Food and Drug Administration (FDA) would cut down the amount of nicotine in combustible cigarettes sold in the US. Still, the company looks well placed to deal with the shift from traditional tobacco to next-generation products. Its exposure to the US, regardless of the FDA’s decision, is less than its closest rival. It’s also done well to maintain cash flow, and maintain its place on our list of income majors. At 2,721p, or 10 times forward earnings, the shares don’t look expensive compared with their own history, either. Outsiders British American Tobacco isn’t a traditional ‘outsider’. In our view, the buy case for Imperial is just a touch stronger. BATS recently completed one of the biggest M&A transactions in history with the £41.8bn purchase of Reynolds America – the largest ever purchase of a tobacco company. This has made it the biggest vaping company in the world, so it too looks well placed to benefit from the shift to alternative products. But the Reynolds deal also made it more exposed to the US market, which could see a tightening in regulation. At 3,774p, or merely two times forward earnings, the shares look unbelievably cheap. But there’s likely a reason for this. The expert's view Sector consolidation means that tobacco is now dominated by a small handful of very large multinationals, known as the 'Big Five': Philip Morris International, British American Tobacco, Japan Tobacco, China Tobacco and Imperial Brands. Numerous smoking bans imposed around the world have put pressure on the industry to develop markets and alternative products to help grow revenues. Fortunately for the industry, declines in tobacco consumption volumes in the UK, mainland Europe and the US have been offset by growth in regions such as the Middle East, Eastern Europe and other emerging economies. The development of next generation products, such as e-cigarettes, which are heavily marketed, is also helping to meet demand for less harmful forms of smoking. Currently there are few restrictions on the use of e-cigarettes, but some countries have raised the possibility of banning them in future. Both British American Tobacco and Imperial Brands were rising nicely until the middle of last year, partly due to well-regarded acquisitions in the US where both derive a significant portion of their revenues. But when the FDA announced plans to reduce nicotine addiction through tobacco products shares across the board were hit hard. As dramatic as the plan may sound, it’s worth noting that the details of exactly how it will be implemented may not be clear for some time and it’s likely that any major changes will be phased in gradually, which gives companies time to adjust and grow their non-nicotine next generation products. Judging by recent comments from the largest tobacco group, Philip Morris International, the sector will need to work harder and faster to grow its next generation sales in order to avoid a gap as tobacco volumes fall. Investors need to be especially careful not to become overly obsessed with short-term movements in the shares of the big tobacco groups. They are mainly suitable for investors with a medium- to long-term outlook who are mostly interested in maximising income in their portfolios thanks to the steady nature of their revenues and the amount of cash they generate. That, along with the huge range of markets they operate in, gives them a great ability to pay dividends and increase those consistently over time. With that in mind factors such as cash flow and dividend cover are much more important than daily changes in the share price. On top of that both BAT and Imperial Brands pay quarterly dividends with above-average yields. IC View Both these companies have done well to adapt to an ever-changing market for nicotine products. Traditional cigarettes may well represent the core of both businesses for some time, as it still accounts for a chunk of revenues – not to mention the fact that customers are quite literally addicted to these products. This could support the development of next-generation products, preventing investment being at the expense of cash flow or dividends. Nicotine is still a highly addictive substance no matter the delivery method, be it combustibles, vaporisers or some other further innovation. If customers are hooked, then the cash flows should keep coming well into the future.
erogenous jones: Ooooh..... looks as if my 4.23% uplift on portfolio gives me some bragging rights! Anyway, by way of a diversion...... FWIW, you can't really make it up, but there are some complete cretins out there (even the ones I have not filtered) who write with a degree of eloquence that is suggestive that they have some comprehension of matters financial......Vodafone go xd tomorrow - there are many that suggest that the share price will not drop by the xd amount..... quite incredible IMO. I cannot work out their reasoning, so, at opening, I fully expect that the share price in VOD is marked to reflect that the dividend that is currently in the share price will be excluded. Of course, the share price will be subject to news, sentiment and market pressure during the day and may close up or down from the opening price..... but that is a very different argument. Unless, that is that I had better simply pack my bags and assume that the City no longer employs any humans, instead engage mathematicians to create a series of algorithims to replicate share price movements based on historic intelligence. I despair.... but fools deserve to and should be parted from their money.
speedsgh: As per philanderer's previous post... Imperial Brands on the climb as backers favour £2bn sell-off - HTTPS:// Some of Imperial Brands’ biggest investors have backed chief executive Alison Cooper’s plan to sharpen the tobacco group’s strategy. Cooper unveiled a £2 billion sell-off of non-core brands on May 9 alongside forecast-beating results. One top 10 shareholder, who wished to remain anonymous, told the Standard it was “supportive” of the new strategy and felt “reassured” by the company’s performance. It said share price spiral had been “extreme”. Another leading shareholder said: “It’s taken the monkey off their back a little bit. Alison is doing more of the right things than not.” Imperial declined to comment. Shares in the Cohiba cigar owner have clawed back some of the losses that led to calls for a shake-up. They are up 15% over the past month, having fallen by a third before Cooper unveiled her proposal. Another shareholder, Saracen, said the sell-off should “alleviate concerns about the balance sheet and lead to greater focus and efficiency”. However it questioned Imperial's commitment to grow dividends by 10% a year, saying the policy was “unsustainable”.
fizzypop: Extract from: hxxps://;utm_medium=email&utm_term=0_25eff0bb7f-bff4d70779-37288149 Income potential Against this backdrop, income shares such as Imperial Brands (LON:IMB) and Berkeley Group (LON:BKG)could remain relatively appealing over the medium term. Imperial Brands has a dividend yield of 6.7%, with dividends per share forecast to rise by 9.3% per annum during the next two years. This means that due in part to a depressed share price, the stock could have a yield of 8% in 2019. Since the business continues to have pricing power in tobacco categories as well as scope to grow its sales in next generation products, it seems to be in a strong position. Due to its defensive characteristics, it may also provide a degree of certainty in volatile market conditions.
jrphoenixw2: In the Daily Telegraph today; (an extract). 'Three stocks with a 7pc dividend they can afford to pay' Imperial Brands Market value: £25bn Dividend yield: 6.7pc Forecast dividend cover for 2018: 1.4 Tobacco giant Imperial has fallen nearly 40pc since its 2016 peak. At the same time, it has maintained its policy of growing its dividend at 10pc a year. It yields close to 7pc, even after a share price rally over the past week. The £2.1bn Threadneedle UK fund, managed by Chris Kinder, is 3.4pc invested in Imperial. Mr Kinder explained that although cigarette sales have been declining, tobacco firms have been able to continue increasing prices. They also have to spend relatively little to produce vast quantities of cigarettes. “That means the conversion of profits to cash flow is incredibly high, which has always funded generous dividends," he said. “The market is worried that Imperial’s 10pc annual dividend increase is not sustainable, given that the earnings of the business are not growing at 10pc. Plus, there is a concern that Imperial is not as well invested in next generation products such as vaping compared to its competitors.” However, even if dividend growth slows to fund investment in such products to maintain its market share, he still expects the dividend to grow. “If your starting yield is 7pc, and that increases in line inflation, that is a very solid place to start. We believe the dividend is sustainable," he said. Mr Kinder added that at a price to earnings ratio of under 10, the valuation of the company is well below its five-year average, and nearing the same level it was at following the bursting of the tech bubble in 2000, when share prices collapsed. Questor rated Imperial Brands as a buy in January.
speedsgh: phil - I'm not sure anyone is suggesting otherwise. It's univerally accepted that the market (whether purely traditional tobacco or combined with new gen products) is in long-term decline. The share price is now back at the same level as early 2014. Taking a simplistic approach: 2013 adjusted EPS: 210.7p 2017 adjusted EPS: 267.0p 2013 DPS: 116.4p 2017 DPS: 270.7p Do those figures justify the current share price? But of course the market is forward looking so it's all about th future. In essence all we're discussing is whether the market is currently undervaluing IMB's future prospects. If it is, therein lies the oportunity. If it isn't, therein lies the risk. Anyone got a fully functioning crystal ball? EDIT - One point worth noting. DPS has grown at CAGR of 10% over the above period whereas adjusted EPS CAGR is c6% which would suggest that the current divdend policy is going to have to be amended at some point with lower dividend growth likely in the future.
speedsgh: AFAICS, on the assumption that there isn't something lurking in the background that insiders are aware of that justifies the decline and underperformance of the share price in comparison to its peers in recent months, then one of two things are likely to happen: 1. Share price will bottom and regain much of the ground lost in recent months with IMB remaining independent & continuing to churn out attractive dividends on a quarterly basis; 2. IMB will get taken out at a considerable premium to the current level. Either way, and regardless of whether IMB is regarded as a bond proxy, the risk would appear to be swayed to the upside from the current levels. Goodness knows where the bottom will turn out to be. 2300p would represent historical yield of 7.4%, 2200p = 7.8%. Even if IMB were to decide to ditch their current dividend policy of 10% annual increases and maintain it at its current level (I have seen no speculation of this), those yields are highly attractive even in an environment of rising interest rates. Aimho. Apologies for the ramblings.
speedsgh: Interesting to note that the IMB share price fell c50% from its high in 1999 to its low in 2000. It did exactly the same from its high in 2007 to its low in 2008/09, down c50%. It is currently down c43% from its high in mid-2016...
philanderer: :-) Financial Times: Wednesday, 11:45 GMT Imperial Brands’ share price slide has improved the chances of a takeover offer with China National Tobacco Corp as likely to bid as Japan Tobacco, says Investec Securities. The broker also argued that a leveraged buyout of Imperial “appears feasible” at current levels and speculated about activist investors getting involved. “Industry volumes and tax revenues in China are under severe pressure, and a move at this time would be consistent with years of preparation of a ‘going out’ strategy, already seen in other industries. Meanwhile, Japan Tobacco could buy Imperial at a 45 per cent premium to its current share price, enhancing EPS by 30 per cent by year four, and reducing net debt to two times ebitda at that stage (net of disposals and keeping the government stake at 33 per cent); Japan Tobacco is unlikely to signal such a move.”
jrphoenixw2: Me and Neil Woodford lol - hTTps:// He has a large position in his Equity Income fund. He writes monthly reports on his various funds with highlights. The latest issued yesterday has this to say on IMB. 'Less positively, Imperial Brands detracted from performance, but it is difficult to explain why, other than the shares are currently out of favour. From a fundamental perspective, Imperial Brands continues to be a business which should deliver attractive and sustainable long-term growth, as it has done consistently throughout its history as a quoted, independent business. The chart below clearly illustrates that Imperial Brands has been a spectacularly good long-term investment, with share price performance being underpinned by strong and dependable growth in cash flow, earnings and dividend. Obviously, as we all know, past performance is not necessarily a reliable guide to the future, but from our perspective, the investment case has not changed dramatically. What has changed recently, is the stock market’s level of interest in the investment case – it simply does not fit with the current market zeitgeist, and consequently, its share price has declined by almost 20% over the last twelve months. Interestingly, although the impact of cumulative compound growth makes it difficult to discern in the chart, there have only been two occasions since 1996 when the 12-month share price performance has been more negative than it is at the moment – during the dotcom bubble of 1999-2000 and during the financial crisis of 2008-09. [chart] As a result of the recent share price performance, Imperial Brands has revisited valuation territory that we haven’t seen in many years. The shares currently yield more than 6% which, for such a cash generative business with a long track record of delivering consistent growth, just looks like the wrong price. On a 5-year rolling basis, the shares have never delivered a negative return – clear evidence that, although fundamentals may not always be rewarded over short time periods, over more sensible time frames, they are all that matter. We remain very attracted to the long-term fundamental investment case and added to the position at these very appealing and unjustified share price levels.'
Imperial Brands share price data is direct from the London Stock Exchange
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