Share Name Share Symbol Market Type Share ISIN Share Description
Tate & Lyle Plc LSE:TATE London Ordinary Share GB0008754136 ORD 25P
  Price Change % Change Share Price Shares Traded Last Trade
  3.20 0.5% 641.80 645,101 15:35:19
Bid Price Offer Price High Price Low Price Open Price
642.60 642.80 643.20 630.20 630.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Food Producers 2,882.00 296.00 52.80 12.2 3,006
Last Trade Time Trade Type Trade Size Trade Price Currency
17:22:10 O 145 641.80 GBX

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Date Time Title Posts
06/10/202023:36Tate and Lyle Graph's and Charts3,465
22/5/201912:29Tate & Lyle FY Preview 23.05.19-
03/7/201408:18Darren Sinden bullish on Tate & Lyle PLC live on TipTV-
10/9/201304:52TATE sweet & sour103

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Tate & Lyle Daily Update: Tate & Lyle Plc is listed in the Food Producers sector of the London Stock Exchange with ticker TATE. The last closing price for Tate & Lyle was 638.60p.
Tate & Lyle Plc has a 4 week average price of 626.80p and a 12 week average price of 626.80p.
The 1 year high share price is 811.40p while the 1 year low share price is currently 498p.
There are currently 468,420,864 shares in issue and the average daily traded volume is 855,844 shares. The market capitalisation of Tate & Lyle Plc is £3,006,325,105.15.
philanderer: 'Tesco reshapes top team with raid for Tate & Lyle finance chief' Imran Nawaz will become new Tesco CEO Ken Murphy's first major hire on Wednesday, Sky News learns. Sky News
philanderer: Analysts at Berenberg slightly raised their target price on 'hold' rated food ingredients manufacturer Tate & Lyle on Monday, stating the group's first-quarter update was "sweeter than expected". Berenberg upped their target price on Tate & Lyle's stock from 665p to 695p after having cut its 2021 forecasts for the group by over 20% since March. Although volumes in T&L's food and beverage solutions unit declined 2%, broadly in line with its forecast for a 1% decline, volumes in the primary products division declined just 12% - much better than its expectations of a 20% drop. Overall, group revenues decreased 5%, helped by positive price/mix. The German bank said recent results had shown the progress Tate had made in important areas like product mix and productivity measures but the analysts highlighted that as with peers, where Tate's 2021 full-year earnings ultimately land will depend on the timing of lockdowns and subsequent easing measures. However, Berenberg noted that Covid-19 had again highlighted several vulnerabilities of Tate's business model - high exposure to out-of-home consumption, high fixed costs and lingering exposure to commodities like ethanol. But on the more positive side, Berenberg said Tate's liquidity position was "strong" and noted that the group was now trading on 14x calendar 2021 price-to-earnings ratio - a 30% discount to global staples - broadly in line with its 25% average discount for the past five years. HTTPS://
essentialinvestor: * marked recent underperformance re the sector - that should have read on Unilever. Back on TATE, that statement looks very strong to me. They have significant indirect exposure to the casual dine out market, particularly in the US. Prices for co-products will surely have been impacted?. Net debt down yet again. What looks interesting longer term is the market for their food solutions business is growing apace - 'clean labels', reduced sugar, reduced calorie, added fibre, focus on taste etc. Added a small amount and tbh if it was not for wider market volatility I would add a larger amount. As we know the TATE share price can sell off for no good reason, so perhaps best looked at on a bad day
essentialinvestor: spoole, for TATE this is a very regular occurrence. Look at a 5 year chart, the share price has moved £1 plus multiple times over the past 5 years. TATE has significant exposure to the US food market and that includes casual dining etc. It's not a coincidence the share price has come back as US COVID cases have surged imv.
essentialinvestor: Added a small amount. The TATE share price can be volatile as we all are aware.
philanderer: Tate & Lyle balance sheet can handle demand fall, says Jefferies Jefferies is expecting consensus figures to come down at Tate & Lyle (TATE) but believes the balance sheet can take it. Analyst Martin Deboo retained his ‘buy’ recommendation and target price of 720p on the stock after an unscheduled Covid-19 update. Tate & Lyle reported a drop in demand for its sugar products as restaurants, bars, and cinemas remained closed. The shares were down 3.7%, or 26p, at 669p yesterday at the time of writing. Although Deboo said he had expected at-home consumption to offset some of the fall in out-of-home consumption, the latest update ‘feels directionally adverse to that and will hurt profits in what is an operationally geared business’. However, he added that ‘the balance sheet is more than robust enough to take it’. HTTPS://
philanderer: Carrying some weight by the look of it. Investec Securities: With the sharp move in the share price, we think the market needed to see more. We move to Sell with unchanged estimates and TP. We continue to think the biggest impact on the share price will be the execution of a successful Ingredients deal, as the company is too exposed to Primary Products, which drag on group growth. Tate now trades on 14.5x CY20E PE, a premium to nearest peer Ingredion and to higher growth mid-cap Consumer stocks such as C&C. This premium is unwarranted in our view, absent a deal. We move to Sell on valuation grounds, with a CY20E PE of 13.8x implied by our 760p target; this would still be at a premium to Ingredion. We await a better entry point or news of a deal.
philanderer: 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: Liberum note: Earlier this week, the FT Alphaville blog cited unconfirmed market chat that Tate was subject to a potential takeover by private French food and industrial ingredients group Roquette Freres. According to the FT Alphaville blog “formal contact” was made and that provisional financing is in place. We subsequently heard further market speculation that a potential bid could come in the arena of 900p per share. We note that this is all entirely market speculation and that no formal offer has been submitted that we are aware of. Roquette is a leading global player in plant-based ingredients and new vegetable proteins. The group addresses provides ingredients for Food, Nutrition and Health markets and has around €3.3bn (£2.8bn) in annualized revenue and 20 plants around the world. We estimate that the company will deliver revenues of £2.8bn in FY’19 (March fye), adjusted EBITDA of £451m and pre-tax profits of £242m. Therefore, in our view, if a deal does ultimately materialize it may end up being more a merger of equals. As part of that commitment, the company is announcing a series of measures to continue to underpin long-term-value creation: On 26th April Archer Daniels Midland announced a major restructuring plan that will repurpose its corn wet mill in Marshall, Minnesota, to produce higher volumes of food and industrial-grade starches as well as liquid feedstocks for food and industrial uses. This change will phase out production of high-fructose corn syrup at that facility as soon as committed deliveries are complete which should further reduce volumes and support HFCS pricing in the market. The group also intends to create an ethanol subsidiary which it may spin off to shareholders. ADM appears to be focused on creating a group more focused on value-add food, beverage and industrial ingredients similar to Tate & Lyle. Tate’s clear focus on lifting returns, cash flow and margins, especially in Food & Beverage Solutions is paying off. Food & Beverage Solutions volumes are now growing nicely, particularly in North America as Tate takes share. We expect Tate will show solid group and Food & Beverage Solutions EBIT margin expansion over FY19-20E driven by the group's 2020 ambitions. In our view, the market underestimates the scope of Tate's margin potential, which could drive strong upside risk to both earnings and the share price. Our benchmarking analysis with closest peer Ingredion suggests strong potential share price upside if Tate can approach Ingredion’s margin levels in speciality ingredients. We reiterate our BUY rating and 900p target price. Valuation remains attractive – Tate & Lyle trades on a cal’19E EV/EBITDA of 8.8x, an 8% premium to US peer Ingredion. On P/E basis, Tate trades on a cal’19E P/E of 14.5x. We expect Tate will continue to pay a progressive dividend and forecast another 2.5% rise to 29.4p in FY’19E, implying an attractive 4.4% cal’19E dividend yield. Reiterate BUY and 900p TP.
essentialinvestor: Latest round of NAFTA talks this weekend and US corn imports to Mexico are on the agenda. TATE share price may be volatile on Monday.
Tate & Lyle share price data is direct from the London Stock Exchange
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