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Prices & Quotes - UK Markets - Smurfit Kappa Group (CDI) (SKG)

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Share Price:
Down 4,077.00p
Change Today:
-103.00p
Market Cap:
10,560m
Sector:
General Industrials

JPMorgan starts Smurfit Kappa at 'overweight'

By Michele Maatouk

Date: Tuesday 23 Feb 2021

LONDON (ShareCast) - (Sharecast News) - JPMorgan Cazenove initiated coverage of corrugated packaging company Smurfit Kappa at 'overweight' on Tuesday with a 4,147p price target, as it refreshed its views on overweight-rated DS Smith.
The bank said that overall, the companies have more similarities than differences, and it sees multiple short and long-term positives for both.

"These tailwinds appear to have become stronger over the last 12 months," JPM said. "We see somewhat greater re-rating potential at SMDS, given an expected end to M&A-related exceptionals from FY22 onwards.

"On SKG, while the rating is higher, the ability to invest organically at 17% return on capital employed is attractive."

JPM noted that demand growth has accelerated to around 6% in the fourth quarter, with paper prices also recovering. It said this should translate into higher box prices from the second quarter of this year onwards.

Meanwhile, the mid-term outlook on supply/demand is also supportive.

"Both groups benefit from e-commerce, being circa 15% of volume, though clearly growing fast. In addition, corrugated boxes are seen as being a more sustainable alternative to plastic packaging, providing a 'slow burn' tailwind to growth."

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SKG Market Data

Currency UK Pounds
Price 4,077.00p
Change Today -103.00p
52 Week High 4,305.00p
52 Week Low 2,898.00p
Volume 526,337
Shares Issued 259.02m
Market Cap 10,560m

Performance Indicators

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Operating Margin
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What The Brokers Say

Strong Buy 9
Buy 1
Neutral 1
Sell 0
Strong Sell 0
Total 11
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

SKG Dividends

  Latest Previous
  Interim Final
Ex-Div 23-Sep-21 08-Apr-21
Paid 22-Oct-21 07-May-21
Amount 29.30¢ 87.40¢

Trades for 17-Sep-2021

Time Volume / Share Price
16:59 15 @ 4,077.00p
16:50 15 @ 4,077.00p
16:40 517 @ 4,077.00p
16:35 214,649 @ 4,077.00p
16:29 24 @ 4,092.00p

SKG Key Personnel

CEO Tony Smurfit