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Prices & Quotes - UK Markets - Associated British Foods (ABF)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 2,040.00p
Change Today:
-5.00p
Market Cap:
16,150m
Sector:
Food Producers

ShoreCap stays at 'buy' on ABF, hails strong showing for Primark

By Alexander Bueso

Date: Tuesday 20 Apr 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Shore Capital reiterated their 'buy' stance for shares of Associated British Foods, highlighting the strong showing for Primark stores since the UK economy began to reopen.
In particular, they noted that over half of Primark stores had broken their own sales records during the week starting on 12 April.

They argued that it was a clear demonstration of "the ongoing potency of the Primark offer despite broader challenges on the high st."

The analysts said they were also encouraged by Primark USA's entering profitability over the period.

Furthermore, they argued that net cash of 705m at period end was a "very strong financial position to enter reopening".

Likewise, the proposed interim dividend payout of 6.2p per share showed management's confidence in the future.

ShoreCap which also called attention to the "great strength" of the company's balance sheet, adding that the shares should be trading on a double digit FY2022 enterprise value-to-earnings before interest, taxes, depreciation and amortisation, instead of the present 8.0-9.0 times.

"Our confidence in the medium-term prospects for ABF remain undiminished, and whilst only one week's performance, the commentary around Primark's reopening should give ABF shareholders a warm glow, in our view."

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

ABF Market Data

Currency UK Pounds
Price 2,040.00p
Change Today -5.00p
52 Week High 2,494.00p
52 Week Low 1,639.50p
Volume 820,588
Shares Issued 791.67m
Market Cap 16,150m

Performance Indicators

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Dividend Yield
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Operating Margin
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What The Brokers Say

Strong Buy 15
Buy 3
Neutral 2
Sell 0
Strong Sell 0
Total 20
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

ABF Dividends

  Latest Previous
  Interim Final
Ex-Div 03-Jun-21 12-Dec-19
Paid 09-Jul-21 10-Jan-20
Amount 6.20p 34.30p

Trades for 23-Jul-2021

Time Volume / Share Price
16:35 431,739 @ 2,040.00p
16:29 92 @ 2,044.00p
16:29 137 @ 2,044.00p
16:29 144 @ 2,044.00p
16:29 218 @ 2,043.00p

ABF Key Personnel

Finance Director John Bason
CEO George G Weston
Chair Michael McLintock