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FTSE 250 movers: Contour crushed, Just Group leaps

Thu, 13th Jun 2019 15:06

(Sharecast News) - London's FTSE 250 was 0.41% lower at 19,171.03 in afternoon trading on Thursday, as power generation business Contour Global led the index lower.Greene King followed close behind after analysts at Berenberg stated that it was "time to sell" the stock as the current financial year "is likely to have got off to a poor start" and will exert pressure on new chief executive Nick Mackenzie, while necessary dividend cuts are unlikely to be taken well in the short term."We think the pressure will already be mounting, with FY 2020 (since 1 May) almost certainly off to a poor start. According to CGA, market like-for-like sales growth for pubs in May was down 1.7%, making it the worst year-on-year decline since March 2018 (which was hit by the "Beast from the East"). That situation is unlikely to get much better, with the rest of the year still facing a series of tough comps," said analysts.Retailer Pets at Home was also among the top fallers as its stock went ex-dividend.Retirement products specialist Just Group surged after saying it remains committed to delivering capital self-sufficiency by 2022 and will target further cost cuts in its US care business.Analysts from Shore Capital said: "Just has had several well publicised issues over the last few years that have had significant impacts on the share price, but the underlying business remains one ideally placed for strong growth in bulk annuities and lifetime mortgages over the coming years. The share price has fallen significantly below the reality of events and at a 2019F PER of 3.6x continues to fundamentally undervalue the group."Kier Group was higher after analysts at Peel Hunt said they were confident that the UK Contracting market remains stable with pockets of strength (regional building), lumpiness (infrastructure) and slowing (London building) after attending presentations from Kier, Balfour Beatty and Morgan Sindall.Premier Oil, Tullow Oil and Cairn Energy were higher after oil prices rose sharply after two oil tankers were attacked in the Gulf of Oman.Finally, Paragon Banking Group rose after analysts at Canaccord hiked the stock's target price from 495p to 500p, stating that the mortgage provider is "well-positioned for the medium term" despite Brexit related uncertainty.Market MoversFTSE 250 (MCX) 19,171.03 -0.41%FTSE 250 - RisersJust Group (JUST) 57.35p 13.68%Kier Group (KIE) 195.20p 7.25%Premier Oil (PMO) 72.78p 3.97%Tullow Oil (TLW) 199.35p 2.39%Ibstock (IBST) 244.80p 2.34%Sabre Insurance Group (SBRE) 262.50p 2.34%Saga (SAGA) 38.94p 2.10%Paragon Banking Group (PAG) 443.00p 1.98%Bakkavor Group (BAKK) 125.00p 1.96%Cairn Energy (CNE) 145.50p 1.68%FTSE 250 - FallersContour Global (GLO) 196.60p -7.92%Greene King (GNK) 605.60p -7.15%Card Factory (CARD) 179.40p -6.17%Ted Baker (TED) 900.50p -5.21%Mitchells & Butlers (MAB) 276.50p -4.33%Pets at Home Group (PETS) 173.30p -4.31%Rank Group (RNK) 153.00p -4.26%Fisher (James) & Sons (FSJ) 1,844.00p -3.96%Aston Martin Lagonda Global Holdings (AML) 1,061.00p -3.33%Vivo Energy (VVO) 128.80p -3.01%
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7 Sep 2018 07:30

Summer heat, World Cup add cheer to Greene King sales

(Sharecast News) - The hot summer spell and football World Cup boosted sales at Greene King in the first 18 weeks of the year as Brits inhaled 3.7m pints of beer during England's seven matches.

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3 Sep 2018 12:39

Pubs sector 'in a precarious state' - Citi

(Sharecast News) - Many pub companies are in a "precarious state", Citi warned on Monday, as they have too much leverage and little surplus cash flow to bail themselves out as the increasingly indebted UK heads for a potential disorderly Brexit.

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31 Aug 2018 16:07

UK Shareholder Meetings Calendar - Next 7 Days

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31 Aug 2018 16:05

UK Earnings, Trading Statements Calendar - Next 7 Days

Monday 3 September MicrosaicHalf Year ResultsDechra PharmaceuticalsHalf Year Year Year 4

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21 Jun 2018 16:05

UK Earnings, Trading Statements Calendar - Next 7 Days

Friday 22 June Prime PeopleFull Year ResultsEdinburgh Worldwide Investment TrustHalf Year

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16 Mar 2018 06:48

EUROPE RESEARCH ROUNDUP -BBA Aviation, Flughafen Zuerich, Greene King

March 16 (Reuters) - Securities analysts revised their ratings and price targets on several European companies, including BBA Aviation, Flughafen Zuerich and Greene King, on Friday. HIGHLIGHTS * :

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16 Feb 2017 10:33

Spending on eating out remains resilient as inflation crunch looms

(ShareCast News) - In the normally quiet month for the pubs and restaurant sector, sales data for January was positive overall and showed casual dining chains enjoying a continued recovery. Industry like-for-like sales grew 1.9% in January 2017 compared to 2016, according to the Coffer Peach Busi

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13 Feb 2017 09:29

BROKER RATINGS SUMMARY: Morgan Stanley Raises AB Foods To Overweight

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10 Feb 2017 16:40

FTSE 250 movers: Elementis gains, Just Eat tanks

(ShareCast News) - The FTSE 250 closed up 0.47% to 18,715.36 points. Elementis was a top riser as it entered into an agreement to acquire specialty chemicals platform SummitReheis from an affiliate of One Rock Capital Partners for an enterprise value of $360m. SummitReheis - which is expected to re

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10 Feb 2017 10:35

Friday broker round-up

(ShareCast News) - British American Tobacco: Berenberg upgrades to Buy with a target price of 5670p. Smith & Nephew: Jefferies reiterates Buy with a target price of 1350p. BT Group: UBS maintains Neutral with a target price of 325p. Ashmore Group: UBS maintains Buy with a target price of 390p. Da

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10 Feb 2017 09:25

BROKER RATINGS SUMMARY: Berenberg Upgrades BAT To Buy From Hold

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10 Feb 2017 09:21

Greene King's shares fall as Canaccord cuts target price, lowers guidance

(ShareCast News) - Greene King's shares fell on Friday as Canaccord Genuity reiterated a 'buy' rating but cut the target price to 850p from 900p and lowered its earnings guidance. The pub operator reported strong trading over the Christmas period on Friday as it sounded a confident note on its outlo

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10 Feb 2017 07:47

London pre-open: Stocks set to track advance on Wall Street

(ShareCast News) - Shares were expected to start the session higher, tracking a record close overnight on Wall Street and on the heels of better than expected Chinese trade data. As of 0721 GMT the Footsie was being called to start the day higher by 23 points to 7,252. In parallel, the Shanghai Sto

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10 Feb 2017 07:16

Greene King reports strong Christmas trading

(ShareCast News) - Pub group Greene King reported strong trading over the Christmas period on Friday as it sounded a confident note on its outlook. In the 40 weeks to 5 February, like-for-like sales grew 1.1%. Excluding Fayre & Square, LFL sales were up 1.6% over the period. Over the last 16 weeks,

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9 Feb 2017 13:00

Friday preview: Greene King to report strong third quarter trading update

(ShareCast News) - Pub operator Greene King is expected to report a robust third quarter trading update on Friday during a strong performance across the rest of the sector. Numis anticipates the company will report a small recovery in Christmas trading, in line with the sector, but believes the pres

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