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
  -51.80 -2.94% 1,709.20 6,263,244 16:35:09
Bid Price Offer Price High Price Low Price Open Price
1,705.40 1,706.60 1,756.40 1,688.00 1,737.80
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Tobacco 31,594.00 1,690.00 106.00 16.1 16,353
Last Trade Time Trade Type Trade Size Trade Price Currency
18:06:22 O 890 1,708.609 GBX

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Date Time Title Posts
21/11/201923:29Imperial Brands PLC (formerly Imperial Tobacco)3,505
26/9/201907:25Imperial Brands Podcast on Trading Update-
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
2019-11-21 18:40:331,708.6189015,206.62O
2019-11-21 18:29:251,709.20211,2013,609,847.49O
2019-11-21 18:29:111,709.2061610,528.67O
2019-11-21 18:06:501,741.771,60527,955.36O
2019-11-21 18:06:381,706.0113,465229,714.38O
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Imperial Brands (IMB) Top Chat Posts

Imperial Brands Daily Update: Imperial Brands Plc is listed in the Tobacco sector of the London Stock Exchange with ticker IMB. The last closing price for Imperial Brands was 1,761p.
Imperial Brands Plc has a 4 week average price of 1,670p and a 12 week average price of 1,670p.
The 1 year high share price is 2,713.50p while the 1 year low share price is currently 1,670p.
There are currently 956,736,947 shares in issue and the average daily traded volume is 4,680,795 shares. The market capitalisation of Imperial Brands Plc is £16,352,547,898.12.
poopypoopants: I'm actually surprised there hasn't been more short selling of IMB over the last few months. It's been well known that there is a significant forced seller in the market in Woodford and I'm guessing that a lot of other institutional investors have reduced their holdings in anticipation of a share price fall because of this. As there has been a glut of sellers caused by the Woodford situation, I would have expected there to be even more selling from short sellers in the market over the last few months. In fact, it has been my assumption that there have been people shorting IMB - although the Marshall Wace short is the only short position disclosed to the market, I believe a public disclosure is only required to be made for shorts of 0.5% or more (I'm not certain about this, so please correct me if I'm wrong). Therefore, if I'm correct, there could and probably have been many institutions that have been going short in recent months, but with positions smaller than 0.5%... many small shorts would soon add up! It seems strange to me that the Marshall Wace short was only initiated on 30th October, which was after the vast majority of the recent down move had already occurred (and only weeks away from an absolutely huge dividend that they'll have to pay assuming they don't close out the short by then). It seems to me that someone probably saw the price plummeting over the course of the preceding week and got FOMO, when BTFD would have made more sense by that point - the Woodford saga will soon be over, so the case for going short is mostly done already, surely leaving IMB a screaming buy at these oversold prices - let's hope their short is badly mistimed and they get burnt :)
poopypoopants: I'd be surprised if EVR maintained their dividend beyond next year, if not sooner, to be honest. I think they have further to fall - their entire business relies on the price of iron and demand for steel, which is probably not a great late-cycle investment. This year, particularly H1, has been a bit of a bumper year for iron ore, due to severe supply issues resulting from the Vale dam disaster in Brazil. China have also been supporting the steel market on the demand side with an increase in infrastructure projects, in an attempt to offset the impact of the trade war. However, the disrupted iron ore supply has been coming back online and the price of iron has fallen in recent months and, therefore, so has the share price of EVR. My feeling is that although I don't doubt the capabilities of EVR as a company, the macro case doesn't look good and so I wouldn't invest at this time - I suspect the price of iron will continue to trend downwards and with it, the share price of EVR. I'll admit, I have been tempted by the dividend on EVR too, but it's an extremely high risk play, as it's essentially a leveraged bet on the price of iron - if the price of iron holds up, it may well turn out to be a very good investment. However, I do believe we are in the late stages of this economic cycle and so I am steering clear of highly cyclical stocks for now. Also, looking at their dividend history, it doesn't look to me like they're overly concerned about maintaining their dividend and wouldn't think twice about not only cutting it, but not declaring one at all.
fenners66: Poopy - suggests with your attitude it might be time to take a long look at your wife's credit card statement ! As for a rationale for paying debt instead of buybacks ... What do you want from buybacks ? A "notional EPS increase" or are you looking to support the share price ? Clearly the share price has tanked so this has failed. As for notional EPS - only if earnings remain the same - if interest rates rise then the EPS rise very quickly reverses. Any other decline hits the EPS. Whereas paying off debt - reduces interest cost and consequently Actually increases profits and EPS. Reduced debt means reduced lending risk and therefore lower interest rates. It was stated on here that the rating is Baa3 "A security has an investment grade rating if it has a rating that falls within the range of Aaa to Baa3 from Moody's or AAA to BBB- for Standard & Poor's. ... The rating of BBB- from Standard & Poor's and Baa3 from Moody's represents the lowest possible ratings for a security to be considered investment grade" That's one above Junk. Next a business has an Enterprise Value - made up of shares and debt. The more the debt is worth the less the shares and vice-versa So cut the debt, increase the profit , increase EPS and increase the share of that more valuable business ascribed to shares rather than debt. Next and by no means least - these debt instruments always need refinancing. They almost never run to term and they always cost a large chunk in fees and interest cost sweeteners. Usual approach is for the companies to charge the renegotiation fees to exceptionals - so the mug punters ignore them - but the truth is its all extra lost profit. Remove the debt remove the fees and add to profits - with borrowings of this size without looking I know this will amount to a sizeable amount.
loganair: What I am saying is that there is so much negativity around vaping as the tobacco companies are saying vaping is to get people off tobacco smoking when in reality having so many different flavours vaping is to bring in new younger people to replace the older tobacco smokers. The tobacco companies have been caught with a huge lie, with their trousers down as it were. Just look at IMB share price - IMB is the weakest of all the major tobacco companies. Buying back huge numbers of shares when they would be better off paying down debt with this money. When the IMB share price was £24, I posted that I would take a serious look at IMB when the share price hits £15. I was decried and dismissed out of hand that the IMB share price wouldn't get any where near the £15 level when today the share price is under £17.50 and still in a downward trajectory.
polaris: hTTps:// That's the link to the dividend policy announcement for FY2019 and forward looking. I think a lot of analysts took the progressive dividend policy to mean a cut when IMB state themselves that it will increase from the current level, taking into account the underlying business. IMO that means the dividend may be frozen from end FY2019 at around 215p (a 10% increase on FY2018) but is a long way from any kind of dividend cut policy, as seems to be priced in. That's over 12% yield at current share price .. Freezing the dividend at 215p, as opposed to the old 10% increase YoY policy, would release around £200M p.a. immediately to perform buybacks or directly reduce debt. Then there is the disposal programme. If they did keep the dividend constant for a few years to deleverage then a rating of 8-9% would be reasonable, implying a share price target of £24-26.50. The recent price target of 1600 also gave no timescale. At 215p dividend per year then the effective price paid today for the share in 12 months time is you get 215p in dividend during that time. What does the broker price target actually mean? I can't get 2% capital return in a savings account p.a. The same return in IMB on capital employed would lead to a share price reduction of around 180p, taking into account the dividend payment over 12 months. But, hey, what do i know? Using logic seems to be frowned upon in modern society.
nickderby: So much negativity by the usual suspects. IMB looks great value at current levels. Growth in 2019 is still going to be 2%. Cost cutting is expect to save £300m by September 2020. EPS expected to be in line with last year at 272p. PE at current share price - a very low 6.5. Long term historical PE ratio is 12, so the fall in share price is well overdone. Yield - Currently 11.65%. The company is certainly not dependent on vaping, which is loss making anyway. Sale of assets expected to bring in £2 billion by May 2020. Directors bought £370,000 of shares on Friday. I see no reason for negativity at this share price, with an incredibly low PE ratio of 6.5 all the bad news must already be priced in!
loganair: It seems to me all about Sentiment and a shrinking market. Out of all the tobacco companies Imperial seem to have the poorest sentiment against them and sentiment can really drive a share price one way or the other by a huge amount. It is very important not to discount what sentiment can do for a share price. A few months ago other posters said I was being ridiculous and totally unrealistic posting that I can see Imperials share price dropping to £20 and now Imperials share price is under £17.50.
cassini: The share price got well ahead of itself in the years surrounding 2016. If you squint hard at the long-term chart and use some imagination you could make an argument for the long-term trend suggesting the share price probably should be ~3000p now. That would put IMB on a yield of ~6.6%, a more normal number than currently. The share price also got ahead of itself in 2007 and then had a nasty undershoot of a similar magnitude in 2008/2009. I tend to allow for an undershoot the same size as the overshoot when a share gets way ahead of its long-term trend. That would have suggested a low of about 2100 and I started buying in just below that level. It actually (so far) got to ~1850 or so. Even so I might have got suckered in at 2400p in 2018, but even if I had there was a reasonable bounce from that level, enough for a decent profit. You can also examine the downtrend channel we're currently in and make a case for maybe 2400p+ on a short term basis (before Xmas), which I think is maybe where polaris is getting his 2450-2500 short-term target from. The thing I don't like about the current situation is the possibility of a world stock market crash. IMB is a defensive, but even so...
loganair: Why has the Imperial Brands PLC share price slumped 25% in one year? by Robert Stephens CFA: Could Imperial Brands PLC (LON:IMB) (IMB.L) deliver a share price recovery? The last year has been disappointing for investors in Imperial Brands with the company’s share price declining by around 25%. Of course, a number of other tobacco companies have experienced a challenging period, with investor sentiment declining as a result of fears surrounding the outlook for the wider industry. Industry volumes are continuing to fall, with increasingly onerous regulations and a more health-conscious consumer leading to reduced demand for cigarettes. This trend looks set to continue in my opinion, although price rises could mean that cigarettes continue to offer sales and profit growth for companies such as Imperial Brands. The long-term future of the business appears to be in the reduced-risk product segment. This includes e-cigarettes and heated tobacco, with the company’s blu brand providing it with significant exposure to next-generation products. They may catalyse its financial prospects and could lead to share price growth in my view. Of course, it is likely to take time for e-cigarettes and other reduced-risk products to take the place of cigarettes in terms of sales and profitability. But with them delivering strong growth in the last few years, it appears as though declining volumes in cigarettes may be mitigated to a large extent by growing sales elsewhere. Therefore, I’m optimistic about the long-term prospects for the Imperial Brands share price. I think that the company’s strategy is sound, with it increasingly targeting investment on new products that could offer improving sales and EPS growth over future years. Although investor sentiment may remain weak in the short run after what has been a very difficult period for the stock, I believe that Imperial Brands’ P/E ratio of 7 suggests that it offers a large margin of safety. Therefore, as a long-term investor the stock appeals to me, with it having the potential to beat the FTSE 100 over future years in my opinion.
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...
Imperial Brands share price data is direct from the London Stock Exchange
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