Mobico Group (MCG)

Sector:

Tourism and Leisure Services

Index:

FTSE 250

57.25p
   
  • Change Today:
    -0.75p
  • 52 Week High: 117.60
  • 52 Week Low: 52.85
  • Currency: UK Pounds
  • Shares Issued: 614.09m
  • Volume: 2,720,757
  • Market Cap: £351.56m

RBC Capital downgrades Mobico to 'sector perform'

By Michele Maatouk

Date: Tuesday 26 Mar 2024

LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets downgraded Mobico on Tuesday to 'sector perform' from 'outperform' and cut the price target to 80p from 110p following the company's update a day earlier.
The bank said it was cutting its adjusted EBIT forecasts - mostly in German Rail - and incorporating a further £95m of provisions in its EV-to-equity bridge, following the statement yesterday.

RBC said it sees more attractive risk-reward elsewhere, hence the downgrade.

"Other stocks in the sector are trading on larger discounts to long-term average EV valuation multiples (on earnings forecasts which have a better recent track record of being delivered or exceeded)," it noted.

The bank said it still expects share price upside on a 12-month view, and its downgrade could prove wrong in the event of a favourable disposal scenario, or if further share purchases by the largest shareholder drive up the shares.

"However, we think suppressed valuation multiples elsewhere in the transport sector, and recent track record of downgrades limit scope for multiple expansion in a disposal scenario.

"We show inside one North American School Bus disposal scenario offering upside just over around 90p, above our price target of circa 80p.

"We do not think this offers sufficient upside to warrant an outperform recommendation given above-average risk and limited visibility over earnings and cash flows."

Mobico was formerly known as National Express.

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

 

Mobico Group Market Data

Currency UK Pounds
Share Price 57.25p
Change Today -0.75p
% Change -1.29 %
52 Week High 117.60
52 Week Low 52.85
Volume 2,720,757
Shares Issued 614.09m
Market Cap £351.56m

Mobico Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
82.83% above the market average82.83% above the market average82.83% above the market average82.83% above the market average82.83% above the market average
80.39% above the sector average80.39% above the sector average80.39% above the sector average80.39% above the sector average80.39% above the sector average
Price Trend
77.88% below the market average77.88% below the market average77.88% below the market average77.88% below the market average77.88% below the market average
78.57% below the sector average78.57% below the sector average78.57% below the sector average78.57% below the sector average78.57% below the sector average
Income
32.33% above the market average32.33% above the market average32.33% above the market average32.33% above the market average32.33% above the market average
30.00% above the sector average30.00% above the sector average30.00% above the sector average30.00% above the sector average30.00% above the sector average
Growth
38.96% above the market average38.96% above the market average38.96% above the market average38.96% above the market average38.96% above the market average
28.3% below the sector average28.3% below the sector average28.3% below the sector average28.3% below the sector average28.3% below the sector average

Mobico Group Dividends

  Latest Previous
  Interim Final
Ex-Div 03-Aug-23 13-Apr-23
Paid 01-Sep-23 15-May-23
Amount 1.70p 5.00p

Trades for 24-May-2024

Time Volume / Share Price
16:35 816,027 @ 57.25p
16:35 1,083 @ 57.25p
16:35 363 @ 57.25p
16:35 1,228 @ 57.25p
16:35 1,523 @ 57.25p

Mobico Group Key Personnel

CFO James Stamp

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