British American Tobacco

Foros Empresas Reino Unido British American Tobacco

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  • #36796

    vass
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    He visto recientemente esta noticia donde se habla de British American Tobacco y se dice que tiene un PER de 2.69.

    http://www.expansion.com/ahorro/2018/06/09/5b17ac4be5fdea0e448b45fa.html

    Viendo la cuenta de resultados no me sale la cifra:

    https://es.investing.com/equities/british-american-tobacco-income-statement

    Beneficio por acción del periodo (2017) 13.63

    Precio : 3656

    A mí el PER de 2 no me sale. ¿Alguien puede explicarme como obtienen ese valor?

    Igualmente me sorprende los gastos de explotación negativos y los ingresos extra. ¿a qué puede deberse esto?

    Un saludo y muchas gracias.

    #36797

    Ciguatanejo
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    El dato de 13.63 que obtienes de investing para el EPS parece erróneo, según el informe preliminar del año 2017 disponible en la propia web de la compañía http://www.bat.com/group/sites/uk__9d9kcy.nsf/vwPagesWebLive/DO72TJQU/$FILE/medMDAW7PB8.pdf?openelement el EPS diluido para el año 2017 sería de 1830 GBp. Y además no se si será un simple error de escritura o realmente de concepto, pero estás expresando el EPS en libras y el precio en peniques, con lo cual nunca vas a obtener un PER correcto.

    Para los datos obtenidos del informe preliminar que te cito, tomando un EPS diluido en 2017 de 1830 GBp  y un precio actual de 3656 GBp, obtendrías un PER de 1.9978 =+- el 2 que citas.

    Para obtener el PER de 2.19 que dan en el artículo de Expansión, el EPS debería de ser de 1669 GBp para ese mismo precio de 3656 GBp.

     

    Un saludo.

     

    P.D.: Y por cierto, ya hay un hilo abierto para BATS https://www.cazadividendos.com/foros/tema/british-american-tobacco-bat/#post-35252 , con lo cual sería conveniente refundir este con aquel si es posible para no empezar a dispersar información y duplicar hilos innecesariamente.

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    #36798

    Vash
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    Siempre que podais usad las cifras “Adjusted Diluted”

    Adjusted: Elimina resultados extraordinarios del ejercicio (En el caso de BATS en 2017 se considera un ajuste contable para equiparar el valor en libros de la parte de RAI que ya poseia al precio que pago en la OPA por el resto que no poseia)

    Diluted: Considera todas las acciones futuras en circulacion  (stock options, deuda convertible etc) y no solo las actuales

    El Adjusted Diluted EPS de BATS para 2017 fue 2.844 libras y el PER17 actual seria 12,86

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    #36802

    Ciguatanejo
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    Tomo nota. Utilicé el Diluted porque, primero, es el que tengo reflejado en el histórico desde el principio, y segundo, porque me pareció que el que mencionaba aun siendo erróneo podía estar haciendo mención al mismo.

     

    Un saludo.

     

    P.D.: Voy a ver si busco al que me dijo una vez que daba igual el que se utilizara en el histórico mientras siempre se utilizara el mismo. Seguramente cuando le pregunté eran ya horas intempestivas y estaba mas por planchar la oreja que por pensar 😛 .

    #38807

    Vash
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    In tobacco we trust

    #38808

    Vash
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    British American Tobacco : BAT to launch heated tobacco in U.S., shares jump

    LONDON (Reuters) – British American Tobacco on Thursday said it would test launch its Eclipse tobacco heating product in the United States within the next 12 months, giving it a head start in a highly competitive market.

    Its shares rose more than 5 percent as BAT, the world’s second-biggest international tobacco company by revenue, also reported better-than-expected first-half profit, helped by its recent takeover of Reynolds American.

    BAT said it received a “substantial equivalence” clearance from the U.S. Food and Drug Administration for an improved version of its carbon-tipped tobacco heating product called Eclipse, a major regulatory hurdle that it says clears the way for it to test the product in the next 12 months.

    “This means it will be first to the market ahead of IQOS,” Jefferies analyst Owen Bennett said, referring to Philip Morris International tobacco heating device.

    “It remains to be seen how popular heated tobacco will be in the U.S. but being first … positions it well.”

    A similar application for its Glo device, filed in February, has passed into scientific review, it said.

    In addition, the company said it expects a scientific hearing regarding its Camel Snus to take place in September.

    The maker of Lucky Strike and Dunhill cigarettes said it remains confident of exceeding 1 billion pounds of reported revenue from next generation products this year, as new launches should bolster growth in the back half of the year, following a slowdown in some key markets such as Japan and Korea.

    In the first half of the year, BAT reported sales of 11.64 billion pounds, roughly in line with analysts’ average estimate according to Thomson Reuters data.

    Adjusted earnings per share were 137.2 pence, ahead of expectations. Its shares were up 5.2 percent at 0900 GMT.

    BAT said foreign exchange rates were a headwind of 8 percent in the first half of the year and are estimated to hurt sales by 5 to 6 percent for the full year, during which it anticipates another good year of adjusted earnings growth at constant rates of exchange.

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    #45852

    Ruindog
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    British American Tobacco’s (BATS) share price plunged by 11.4% to £31.06 following a report in the Wall Street Journal which said that the US Food and Drug Administration wants to ban menthol cigarettes.

    BAT owns Newport, which is the biggest methol cigarette brand in the US.

    The WSJ reports that menthols represented 55% of BAT’s US cigarette sales by volume in its last financial year.

    Un optimista es un pesimista mal informado

    #45853

    Vash
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    BATS falling the most in 19 yrs post US news.

    Ahora ya se lo que sintieron los accionistas de las tabacaleras en el año 2000 cuando todo subia y estas caian un 50%.

    #45854

    Vash
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    BAT is the most exposed name to the potential risk,” wrote Richard Taylor, an analyst at Morgan Stanley who estimates that U.S. menthol cigarettes account for 25 percent of total earnings.

    Imperial Brands Plc declined as much as 5 percent. The Winston maker gets about 15 percent of earnings from menthol cigarettes in the U.S., according to Jefferies. The proportion is about 20 percent for Altria Group Inc., which sells Marlboro in that market, according to the firm.

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    #47444

    Ruindog
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    British American Tobacco Stock Analysis

    https://www.dividendgrowthinvestor.com/2019/01/british-american-tobacco-bti-dividend.html

    Un optimista es un pesimista mal informado

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    #47446

    Vash
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    Enesimo recorte de precio objetivo. Lo mas recambolesco es que ademas de predecir las siete plagas de egipto a la vez suben la estimacion de beneficio por accion para este año y el siguiente.

    Looking at the individual stocks, the analysts said: “BATS is arguably the most disadvantaged by changes in the US cigarette landscape.”

    They pointed out: “Not only is the company the market share leader in menthol (which now faces legitimate regulatory risk), the company has also experienced meaningful market share losses in the ecigarette category for its Vuse offering.”

    The analysts said an “offset from more stable volumes internationally should be somewhat helpful” and they also raised their 2019 and 2020 earnings per share (EPS) estimates for BAT on currency factors.

    However, they slashed their target price for the Dunhill, Lucky Strike and Camel brands maker to 2,650p per share, down from 4,250p, with the shares trading at 2,476.50p, down 4.1% on Friday’s close.

    https://www.proactiveinvestors.co.uk/news/details/212080/stubbed-out-cowen-cuts-ratings-for-cigarette-makers-bat-imperial-brands-altria-in-global-sector-review-212080.html

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    #47461

    xaps10
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    La verdad que llevo comprando tabaco durante los últimas 3-4 semanas y creo que mañana lo volveré a hacer: IMB y BATS. Después de esto, a dejar pasar el tiempo y recolectar dividendos, he cambiado buena parte de la cartera este último mes.

    "Life is not fair; get used to it."
    “If you think your teacher is tough, wait till you get a boss.”
    - Bill Gates

Foros Empresas Reino Unido British American Tobacco

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