Tate & Lyle Share Discussion Threads

[wad collector] 13/12/2019 12:12

Thanks for the link.

[philanderer] 09/12/2019 13:25

Jefferies sweetens rating on Tate & Lyle

(Sharecast News) - Jefferies has upped its recommendation on Tate & Lyle, but continues to sound a note of caution about the impact of near-term political uncertainty and potentially "uncompelling" earnings growth

The bank has a 'hold' rating on the sugar and sweetener specialist, up from 'underperform'. The price target has also been lifted, to 770p from 635p.

Equities analyst Martin Deboo explained: "We abandon our 'underperform' case in the aftermath of [a] better-than-expected half-year and subsequent positive indications on the 2020 pricing rounds in high fructose corn syrup.

"The stand-out result at the half-year was 11% profit growth at constant foreign exchange in the higher PER segment of Food & Beverage Solutions (FBS). While volumes were flat against at toughening comparison, a 4% positive price/mix, allied to cost discipline, delivered the result.

"Tate & Lyle is guiding to something similar in the second half; we go for +9% profit growth. The second half will continue to benefit from the positive mix benefit from withdrawing from lower margin texturants in EMEA."

However, Deboo also argued that while the FTSE 250 firm was an "improving business" it remained "underwhelming".

"Upgraded numbers equate to flat EPS growth in the 2020 at constant exchange rates, related to guidance of 'broadly flat to low single-digit'," he said. "So we no longer see downside risk to guidance or consensus.

"However, Tate & Lyle is still struggling to deliver positive earnings momentum, with the high growth/high PER component - FBS - only 40% of profits and lower growth/lower PER components - Sucralose & Primary - 60%.

"What would turn us more positive would be further evidence of sustained volume and profit growth in FBS and further good news on sweetener economics.

"However, going the other way is downside foreign exchange risk to earnings from the pound against the dollar, in the event of a Conservative victory in the UK general election. The strong balance sheet affords some M&A salvation, but we prefer to look at that on its merits, when the time comes."

Last month, Tate & Lyle beat forecasts to report a 45% surge in first-half profits, to £164m, while revenues rose 7% to £1.4bn.

However, the company left its full-year guidance unchanged, citing "challenges" in the US and the fact it was only just starting to sign the latest round of annual contracts.

Shares in Tate & Lyle were largely flat by 1115 GMT, trading around 744.60p.

[philanderer] 29/11/2019 00:25

'Tate and Lyle to deliver stevia solutions at Food Ingredients Europe'

[wad collector] 26/11/2019 12:13

Looking good. Hard to know how Election sensitive Tate value might be. If Corbyn can shaft every company with corporation tax rises we might see a crash but suspect a continuing muddle will be the outcome.

[philanderer] 26/11/2019 09:58

Goldmans upgrading to BUY with tp 830p

[philanderer] 20/11/2019 16:56

xd tomorrow morning for the 8.8p dividend

[wad collector] 13/11/2019 12:05

You have not said when either! 2025?

[pete160] 11/11/2019 22:34

Yes, but I suspect they haven't said when by though.I predict a 925p take out price just not yet.

[wad collector] 11/11/2019 22:29

Ah ,good, a broker with some Cojones ; willing to guess outside the recent range.

[philanderer] 11/11/2019 10:25

GOLDMAN RAISES TATE & LYLE PRICE TARGET TO 820 (780) PENCE - 'NEUTRAL'

[wad collector] 08/11/2019 13:57

Very clever of them choosing a new target price which happens to be the same as the market price that day. Not that they looked of course.

[philanderer] 08/11/2019 13:27

Upgrade from Kepler from 'reduce' to 'hold'... tp 720p up from 635p

[philanderer] 07/11/2019 19:40

Indeed, more than happy with the numbers :-)

[essentialinvestor] 07/11/2019 19:01

Hi Phil, same as the FY statement, before bringing lease liabilities on balance sheet.

Can understand FX makes a difference, it's the % difference I'm questioning.

Anyway, decent enough results.

[essentialinvestor] 07/11/2019 14:21

Thanks Phil.

[philanderer] 07/11/2019 10:00

Morning everyone.

Late on parade as usual. Good to see some blue.

EI ,I'll have a look later at the detailed results . Everything's a little blurry at the moment ;-) Train to catch, being treated to lunch in Paddington.

[wad collector] 07/11/2019 08:54

Half yearly results well received by the market though a note of caution about outlook stopping it going higher I think.
Advfn link broken.

[essentialinvestor] 05/11/2019 11:42

The reported net debt figure was £337 million, but adjusted It was approx
£76 million higher, which they put down mainly to FX.

I can't reconcile that % difference.

[essentialinvestor] 05/11/2019 11:38

Not sure can someone shed any light on this? - Reading the FY results
there is a really large difference between the reported year end net debt
and net debt on FX adjustment.

[mcbull] 05/11/2019 11:30

or last buying opportunity before thursday's results?

mirror image of the charts low for november last year........history repeating itself?

[philanderer] 05/11/2019 10:34

Nervous selling before thursday's results ?

[bookbroker] 05/11/2019 10:31

Might be the fact that the corn harvesting, and planting is becoming increasingly vulnerable to the vagaries of the weather in the US. All signals are that commodity prices are going to remain pretty volatile, this will ensure that hedging is imperative for this company, and to get it right!

[nemesis6] 05/11/2019 10:27

whats going on here ffs!...results must be sh yte