REGISTER: Hear how Blencowe Resources (BRES) plans to develop a World Class graphite Project. Find out at the focusIR Feb Investor Webinar. Sign up here.

Less Ads, More Data, More Tools Register for FREE
Sponsored Content
Don't want ads? Click here
Sponsored Content
Don't want ads? Click here

Pin to quick picksNEX.L Share News (NEX)

  • There is currently no data for NEX

Watchlists are a member only feature

Login to your account

Timelines are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

National Express outlook negative as virus hits earnings - Moody's

Tue, 29th Jun 2021 21:43

(Alliance News) - Moody's Investors Service on Monday said it expects National Express Group PLC to see more earnings pressure from a slowdown in travel.

The ratings agency, however, also noted the coach operator's extensive geographical footprint and the level of support it receives from government.

Moody's assigned a Baa2 long term issuer rating for National Express, with a negative outlook.

"National Express' senior unsecured rating of Baa2 reflects Moody's expectations of continued pressure on the company's revenues, Ebitda and operating profit as a result of reduced travel in the wake of coronavirus, as well as the related overall slowdown in the economic activity," the ratings agency explained.

National Express is constrained by a slump in travel due to Covid-19 lockdowns and its "material leverage", Moody's noted. It also added that there is uncertainty about the pace and timing of a post-virus economic recovery.

On the flip side, the FTSE 250 stock benefits from a "diversified geographic presence". National Express gets "significant" earnings contributions from its UK, Spain and North America arms.

It has also seen a "range of material support from various national and local governments".

National Express shares closed 2.0% higher at 270.20 pence each in London on Tuesday.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

More News
26 Apr 2022 07:20

National Express Q1 revenues back at 2019 levels

(Sharecast News) - Coach operator National Express said on Tuesday that first-quarter group revenues were back to 2019 levels, with the group actually trading ahead of the same time two years earlier during March.

Read more
25 Apr 2022 10:49

Berenberg lowers target price on National Express

(Sharecast News) - Analysts at Berenberg lowered their target price on coach operator National Express from 340.0p to 300.0p on Monday after adjusting numbers on the stock now that the dust has settled on the potential acquisition of Stagecoach and the subsequent counterbid from DWS.

Read more
22 Apr 2022 16:03

UK earnings, trading statements calendar - next 7 days

Read more
20 Apr 2022 11:52

IN BRIEF: DWS fund has 28% acceptances for Stagecoach takeover offer

Stagecoach Group PLC - Perth, Scotland-based transport provider - Pan-European Infrastructure III SCSp, an infrastructure fund managed by DWS Infrastructure, says it has acceptances for its takeover offer representing 27.5% of Stagecoach shares. Of these, shares it has purchased represent a 17% stake, while offer acceptances from other shareholders represent a 10.5% stake. Last month, the Stagecoach board accepted DWS's GBP594.9 million cash offer, switching its support from an all-share merger with UK peer National Express Group PLC. The DWS offer of 105 pence per Stagecoach share remains open until May 21. It has a 75% acceptance condition, though this could be lowered.

Read more
19 Apr 2022 16:02

UK earnings, trading statements calendar - next 7 days

Read more
22 Mar 2022 09:45

LONDON BROKER RATINGS: Bank of America says buy Experian and Intertek

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning:

Read more
17 Mar 2022 10:59

SMALL-CAP WINNERS & LOSERS: Go-Ahead up as fine less harsh than feared

(Alliance News) - The following stocks are the leading risers and fallers among London Main Market small-caps on Thursday.

Read more
17 Mar 2022 10:19

National Express believes Stagecoach merger superior to DWS cash offer

(Alliance News) - National Express Group PLC on Thursday said it believes its all-share combination with Stagecoach Group PLC remains the better choice after being spurned for a cash offer from DWS Infrastructure.

Read more
17 Mar 2022 09:12

LONDON MARKET OPEN: Stocks rise after Fed rate hike; Ocado, M&S drop

(Alliance News) - Stock prices in London opened higher on Thursday after the US Federal Reserve raised interest rates for the first time since 2018, while Ocado sank after its online grocery joint venture with Marks & Spencer warned on inflationary pressures.

Read more
17 Mar 2022 07:52

LONDON MARKET PRE-OPEN: Cineworld loss narrows as audiences return

(Alliance News) - Stock prices in London are seen opening higher on Thursday, tracking a rally in US and Asian equity markets, after the Federal Reserve, as expected, raised interest rates from historic lows.

Read more
17 Mar 2022 07:51

National Express says Stagecoach offer creates 'superior value creation opportunity'

(Sharecast News) - Coach operator National Express said on Thursday that its proposed £1.9bn all-share combination with Stagecoach represented "a superior value creation opportunity" when compared to an offer from German infrastructure fund DWS.

Read more
14 Mar 2022 09:49

LONDON BROKER RATINGS: Bernstein raises Unilever and cuts Reckitt

(Alliance News) - The following London-listed shares received analyst recommendations Monday morning:

Read more
14 Mar 2022 08:39

Liberum slashes National Express price target

(Sharecast News) - Liberum slashed its price target on National Express on Monday to remove upside from the Stagecoach deal, which has fallen through.

Read more
10 Mar 2022 18:00

FTSE 100 weighed down by banks and oil firms; Rio Tinto slumps

March 10 (Reuters) - London's FTSE 100 fell on Thursday with heavyweight financial and oil shares leading declines, along with miner Rio Tinto after it severed all ties with Russian businesses and also traded ex-dividend.

Read more
10 Mar 2022 11:01

National Express happy to ride solo but Stagecoach remains on radar

March 10 (Reuters) - National Express does not necessarily need to buy rival Stagecoach to boost revenue and profit, although it is still considering its options after it was outbid by a new suitor this week, the transport company said on Thursday.

Read more

Track Your Investments

Register for FREE

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.