Bunzl (BNZL)

Sector:

Retailers

Index:

FTSE 100

3,412.00p
   
  • Change Today:
    -20.00p
  • 52 Week High: 3,714.00p
  • 52 Week Low: 2,875.00p
  • Currency: UK Pounds
  • Shares Issued: 334.63m
  • Volume: 789,888
  • Market Cap: £11,418m
  • RiskGrade: 114

Jefferies keeps 'underperform' rating on Bunzl despite strong H1

By Benjamin Chiou

Date: Tuesday 27 Aug 2024

LONDON (ShareCast) - (Sharecast News) - Bunzl shares surged to an all-time high on Tuesday after a stronger-than-expected set of half-year results and a new share buyback programme, but that wasn't enough to change Jefferies' negative view on the stock.
Shares were up 8% at 3,470p by 1059 BST, having hit a record peak of 3,600p earlier in the session.

However, Jefferies reiterated an 'underperform' rating and 2,600p target price for the shares, which suggests a 25% drop in the stock from Tuesday's levels.

The distribution and outsourcing company announced that adjusted diluted earnings per share rose to 90.2p in the six months to 30 June, up from 87.6p previously and around 2% ahead of the consensus estimate of 88.3p,

Revenues of £5.71bn were also ahead of forecasts of £5.69bn, albeit down 3.3% year-on-year. However, the 4.9% decline in organic adjusted revenue was more or less in line with company guidance, Jefferies said.

Meanwhile, the broker highlighted that the bottom-line beat was bolstered by a strong performance in the Rest of World region, where EBITDA came in at £73m compared with its £67.8m forecast, though results in the larger Europe and the UK and Ireland regions were still worse than expected. EBITDA in Europe and UK and Ireland were £106.7m and £52.6m, below the broker's forecasts of £110.8m and £54.3m respectively.

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

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Bunzl Market Data

Currency UK Pounds
Share Price 3,412.00p
Change Today -20.00p
% Change -0.58 %
52 Week High 3,714.00p
52 Week Low 2,875.00p
Volume 789,888
Shares Issued 334.63m
Market Cap £11,418m
RiskGrade 114

Bunzl Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
96.84% below the market average96.84% below the market average96.84% below the market average96.84% below the market average96.84% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Price Trend
59.86% above the market average59.86% above the market average59.86% above the market average59.86% above the market average59.86% above the market average
53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average53.85% above the sector average
Income
65.73% below the market average65.73% below the market average65.73% below the market average65.73% below the market average65.73% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Growth
40.54% below the market average40.54% below the market average40.54% below the market average40.54% below the market average40.54% below the market average
Sector averageSector averageSector averageSector averageSector average

What The Brokers Say

Strong Buy 2
Buy 2
Neutral 8
Sell 4
Strong Sell 2
Total 18
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Bunzl Dividends

  Latest Previous
  Interim Final
Ex-Div 14-Nov-24 16-May-24
Paid 03-Jan-25 02-Jul-24
Amount 20.10p 50.10p

Trades for 31-Oct-2024

Time Volume / Share Price
16:36 191 @ 3,412.00p
16:36 1,300 @ 3,412.00p
16:35 250 @ 3,412.00p
16:35 19,429 @ 3,412.00p
16:35 8,351 @ 3,412.00p

Bunzl Key Personnel

CFO Richard Howes
Chair Peter Ventress

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