Share Name Share Symbol Market Type Share ISIN Share Description
Menzies(john) Plc LSE:MNZS London Ordinary Share GB0005790059 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  1.00 0.24% 410.00 68,408 16:35:10
Bid Price Offer Price High Price Low Price Open Price
407.00 409.00 411.50 406.00 406.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Support Services 1,291.00 21.60 14.60 28.1 343
Last Trade Time Trade Type Trade Size Trade Price Currency
17:02:51 O 5,305 409.508 GBX

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Date Time Title Posts
12/11/201920:45John Menzies372
04/5/200709:45Menzies - Cheap aviation assets, cheap company8
25/10/200615:08Menzies -a good investment4

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Menzies(john) (MNZS) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2019-11-21 17:02:51409.515,30521,724.40O
2019-11-21 16:53:54409.22238973.95O
2019-11-21 16:38:34410.005,00020,500.00O
2019-11-21 16:35:10410.0016,91069,331.00UT
2019-11-21 16:29:55407.50150611.25AT
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Menzies(john) (MNZS) Top Chat Posts

Menzies(john) Daily Update: Menzies(john) Plc is listed in the Support Services sector of the London Stock Exchange with ticker MNZS. The last closing price for Menzies(john) was 409p.
Menzies(john) Plc has a 4 week average price of 388p and a 12 week average price of 378p.
The 1 year high share price is 575p while the 1 year low share price is currently 353.50p.
There are currently 83,711,542 shares in issue and the average daily traded volume is 71,815 shares. The market capitalisation of Menzies(john) Plc is £343,217,322.20.
gordongekko4: following today's general meeting, the new executive chairman Philipp Joeinig will most likely purchase 850.000 shares of John Menzies Plc in the open market. Share price will undoubtedly go up as a result!
gordongekko4: John Menzies needs private owner to make most of aviation-services consolidation – shareholders 14 August 2019 | 16:20 UTC * Swissport and WFS owner Cerberus possible suitors * Shareholders suggest acceptable sale price near 750p/share * Management “frustrated221; with performance, shareholder says ________________________________ John Menzies [LON:MNZS] could be an aviation-services sector consolidator but may need a new private owner if is to continue to grow by acquisition, with possible backers including Swissport and Cerberus Capital Management, according to two investors interviewed by this news service. The company would be more able to pursue a growth strategy if taken private since it would need to increase its leverage to a level typically unacceptable to public market investors, the first shareholder, and a second, who is a minority investor, said. Now is the right time for John Menzies to look for a buyer, the first shareholder said. The shareholder sentiment echoes the views of activist investor Sterling Strategic Value, which told this news service in June that the company should consider integrating into a larger group. The rumour of a sale of the business has been around for years and is possible, a sector banker commented. Activist funds including Lakestreet Capital, Kabouter Management and Shareholder Value Management have successfully pushed the company to separate its distribution business, which it sold last year. Investors have been disappointed by management’s progress with John Menzies’s aviation business since it was split from the distribution business, the first and second shareholders said. Some of the company’s headwinds have been beyond management’s control, the second shareholder said; these include the downturn in global trade volumes, as cargo services make up around 25% of the company’s revenues. Other issues, such as the company’s anaemic growth rate in the UK and the fleeting tenure of Forsyth Black as chief executive, have been its own fault, he said. John Menzies is “not a dog’s breakfast” and can improve performance, said a third shareholder, who is a minority investor. If the company fails to perform better within 12 months, it will be vulnerable to a takeover, the second shareholder said. Valuation and potential suitors An offer just above 9x EV/EBITDA would be welcome, this shareholder said. Peers such as Swissport and Worldwide Flight Services (WFS) were acquired at between 9x and 14x EV/EBITDA, he noted, adding that he would not expect to realise a price at the top of this range. At 9x EV/EBITDA, John Menzies would be valued at 717p/share, and at 10x it would be valued at 826p/share, according to analytics by this news service. Any acquirer would need to offer 750p/share, the first and third shareholders agreed. However, John Menzies’s recent operational issues mean the market may not yet be right for an offer at that price, the first shareholder said. The third shareholder said he has yet to decide whether to support the push for a sale, but would tender for an offer above that price. Any offer “has to be a wow”, he said. John Menzies' current EV/EBITDA multiple is 6.4x, or 6.1x prior to a c. 7% up-tick in the stock’s value on 14 August after the company reported its interim results. HNA bought Swissport at a 0.9x EV/sales multiple, and Cerberus bought WFS last year at 1x EV/sales, according to an analysis by this news service. John Menzies’s current EV/sales multiple was 0.4x prior to the 14 August share-price jolt. WFS is one of the largest cargo players with a smaller amount of ground handling, while John Menzies is mostly ground handling with some cargo, so “they are a perfect fit,'' the first shareholder said. In a weak market, ground handling is more resilient than cargo, which makes the combination a good option for WFS and Cerberus, this investor added. After Cerberus bought WFS for EUR 1.2bn, Cerberus and Brookfield subsequently attempted to buy HNA Group-owned Swissport, but the sale stalled as HNA looked to refinance its subsidiary’s debt instead, according to media reports. John Menzies would be the next logical option for Cerberus after trying to buy Swissport, the first investor said. Swissport itself is the largest strategic player in the aviation-services sector, with John Menzies in second place, according to the latter’s own reporting. It would therefore be a logical buyer in a consolidating industry, the first and second shareholders said. As of July, John Menzies has a new chairman in Phillip Joeinig, who has an “astounding221; track record over almost a decade at Swissport, the first shareholder noted. The second shareholder said he will soon meet Joeinig for the first time. Previous talks with the company’s directors have been “always quite frank”, the second shareholder said. He finds them receptive to shareholder concerns, he said, and they, too, are “frustrated221; with the company’s performance. John Menzies, Swissport, Cerberus, Kabouter, Lakestreet and Shareholder Value Management did not respond to requests for comment. by William Mace, Deane McRobie and Sofia Okun in London, with analytics by William Cain
1gw: Impressive come back. I sat on my hands while the knife was falling waiting for it to find a level. After reading the TU I thought £4 felt about right - i.e. around a 10% fall - for the profit warning, given the share price appeared to have been discounting bad news for some time. Although price discovery has been a bit difficult with recent trading patterns - lots of tiny trades moving the share price about and then a bigger uncrossing trade which tended to move it somewhere else. Now we're back above £4, I'm moving back towards thinking about selling some.
1gw: I'll take "on track". Could have been worse given the environment and the share price.
1gw: On track and operating margin growing but revenue growth has slowed in 2018. Will that be enough to turn the share price round?
1gw: Subdued relative to the recent share price run. Now trading more than 10% ahead of the theoretical ex-rights price on my calcs and about 25% ahead of its post-rights low.
1gw: No obvious "sell on the news" evident this morning, despite a fairly subdued update relative to the recent share price growth. It does sound like good news at Gatwick though, which makes a nice change. Intriguing.
1gw: The share price still hasn't really got back to where it was at the time of the rights issue. 615p pre-rights equates to about 543p I think as a theoretical ex-rights price. Today's trading update is (marginally) encouraging, although I think they've put back the expected acquisition completion date from late 2016 to early 2017. I'm not sure Menzies ever gave the "late 2016" date but I remember seeing it somewhere - perhaps attributed to the seller. But in any case I think there's still scope for the share price to run purely to catch up with where it was before the market indigestion caused by the rights issue. And the longer sterling stays down at these levels, the more sustained the currency translation upside should be.
buffettjnr: The new chairman will buy rights in the market. I wonder what that will start happening. He has a few hundred thousand to buy according to the prospectus. Sterling is helping Menzies earnings materially. It's not reflected in the price. 56p of earnings on 540p share price. Sub 10x. Amazing value.
1gw: Nice to see the share price up near 620p again but feels like someone playing games here. Share price apparently driven up on tiny trades with very little total volume. Yesterday afternoon we had a similar pattern and then a relatively big uncrossing trade well below the price just before the close. Fingers crossed we don't get a repeat today.
Menzies(john) share price data is direct from the London Stock Exchange
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