focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSIG.L Share News (SIG)

  • There is currently no data for SIG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Berenberg downgrades Signature Aviation to 'sell'

Thu, 28th May 2020 09:49

(Sharecast News) - Berenberg downgraded Signature Aviation - formerly BBA Aviation - to 'sell' from 'hold' on Thursday as it said the stock's re-rating has been too aggressive.
It noted that since its lows in April, Signature shares have rallied nearly 80% and are outperforming the FTSE 250 year to date.

"We feel the market has got ahead of itself. The aviation industry is facing its biggest crisis, perhaps ever, with the outcome, winners and losers yet to be determined," it said. "With this in mind, a 17x 2021 price-to-earnings (pre-IFRS 16), reflecting a 'normal year' earnings, is well above historical averages, despite the significantly higher degree of uncertainty."

Berenberg said that on consensus numbers, Signature is trading at its highest relative valuation versus the FTSE 250 over the last five years.

2Given the sluggish recovery expected - -our FY 2022 EBIT remains below FY 2019 - we think there is downside risk to the valuation, with material long-term earnings risk."

The bank maintained its 165p price target.

At 1020 BST, the shares were down 3.9% at 243.00p.
More News
22 Feb 2021 09:32

Signature Aviation Shareholder NNS Plans To Vote In Favour Of Takeover

Signature Aviation Shareholder NNS Plans To Vote In Favour Of Takeover

Read more
19 Feb 2021 07:36

Carlyle says it won't make firm offer for Signature Aviation

(Sharecast News) - Private equity firm Carlyle has decided not to make a firm offer for aviation services company Signature Aviation.

Read more
18 Feb 2021 17:43

Carlyle Investment Backs Away From Signature Aviation Offer

Carlyle Investment Backs Away From Signature Aviation Offer

Read more
17 Feb 2021 08:58

Signature Aviation Sells Engine Repair Business To StandardAero

Signature Aviation Sells Engine Repair Business To StandardAero

Read more
17 Feb 2021 07:48

Signature Aviation to sell ERO business for $230m

(Sharecast News) - Signature Aviation has agreed to sell its Engine Repair and Overhaul (ERO) business to StandardAero for $230m.

Read more
17 Feb 2021 07:47

LONDON MARKET PRE-OPEN: BAT Raises Dividend As Annual Profit Rises

LONDON MARKET PRE-OPEN: BAT Raises Dividend As Annual Profit Rises

Read more
8 Feb 2021 13:51

Monday broker round-up

(Sharecast News) - Flutter Entertainment: Morgan Stanley upgrades to overweight with a target price of 17,400p.

Read more
5 Feb 2021 08:47

LONDON MARKET OPEN: Pound Holds Firm Against Rising Dollar; Beazley Up

LONDON MARKET OPEN: Pound Holds Firm Against Rising Dollar; Beazley Up

Read more
5 Feb 2021 08:25

TOP NEWS: Rivals GIP And Blackstone Join For Signature Aviation Offer

TOP NEWS: Rivals GIP And Blackstone Join For Signature Aviation Offer

Read more
5 Feb 2021 07:49

LONDON MARKET PRE-OPEN: Beazley Swings To Annual Loss And Skips Payout

LONDON MARKET PRE-OPEN: Beazley Swings To Annual Loss And Skips Payout

Read more
5 Feb 2021 07:04

GIP teams up with Blackstone, Gates in $4.7bn Signature Aviation bid

(Sharecast News) - Global Infrastructure Partners has teamed up with rival bidders Blackstone and Microsoft founder Bill Gates to make a $4.73bn (£3.43bn) bid for Signature Aviation, the companies said on Friday.

Read more
22 Jan 2021 18:04

Moody's Places Signature Aviation's Ratings On Review For Downgrade

Moody's Places Signature Aviation's Ratings On Review For Downgrade

Read more
11 Jan 2021 17:00

LONDON MARKET CLOSE: Stocks Fret Over Possible Tighter UK Restrictions

LONDON MARKET CLOSE: Stocks Fret Over Possible Tighter UK Restrictions

Read more
11 Jan 2021 12:14

LONDON MARKET MIDDAY: Rising Covid Cases In UK Halt Early 2021 Rally

LONDON MARKET MIDDAY: Rising Covid Cases In UK Halt Early 2021 Rally

Read more
11 Jan 2021 10:41

UK WINNERS & LOSERS SUMMARY: Signature Aviation Flies High On Takeover

UK WINNERS & LOSERS SUMMARY: Signature Aviation Flies High On Takeover

Read more

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.