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Prices & Quotes - UK Markets - Bodycote (BOY)

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 823.50p
Change Today:
-12.00p
Market Cap:
1,576.64m
Sector:
Industrial Metals & Mining

JPMorgan downgrades Bodycote, cites near-term pressures

By Michele Maatouk

Date: Monday 30 Nov 2020

LONDON (ShareCast) - (Sharecast News) - JPMorgan Cazenove downgraded heat treatments supplier Bodycote on Monday to 'underweight' from 'neutral' and cut the price target 635p from 670p as it argued that near-term pressures will weigh on the stock.
"We believe Bodycote has been fundamentally improved by the current management team, reflected in a higher through-cycle margin, and we expect progress to continue in the coming years," JPM said. "However, we see the full delivery of this upside as longer-dated."

In the near term, JPM expects the shares to come under pressure from a slower-than-expected earnings recovery and the need for a consensus reset.

The bank cut its 2020/2021/2022 adjusted EBITA forecasts by 8%/15%/5% to a level "well below" standing consensus and said it prefers overweight-rated Melrose Industries for investors looking to play a recovery in the automotive/aerospace industry.

JPM noted that Bodycote's third-quarter trading update confirmed trading remains under the cosh, with organic sales still declining more than 20% year-on-year.

"Aerospace is the primary area of weakness but, despite sequential improvement, each of Automotive and General Industrial and Energy still declined double-digit," it said.

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

 

Bodycote Market Data

Currency UK Pounds
Price 823.50p
Change Today -12.00p
52 Week High 984.50p
52 Week Low 687.50p
Volume 127,382
Shares Issued 191.46m
Market Cap 1,576.64m
Beta 0.95

Performance Indicators

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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 5
Sell 1
Strong Sell 1
Total 12
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Bodycote Dividends

  Latest Previous
  Interim Final
Ex-Div 07-Oct-21 22-Apr-21
Paid 05-Nov-21 04-Jun-21
Amount 6.20p 13.40p

Trades for 03-Dec-2021

Time Volume / Share Price
16:35 85,772 @ 823.50p
16:29 355 @ 821.00p
16:29 6 @ 821.00p
16:29 6 @ 821.00p
16:29 7 @ 821.00p

Bodycote Key Personnel

CEO Stephen C Harris
CFO Dominique Yates
Chair Anne Quinn