Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on ROYAL MAIL PLC. We currently have 7 research reports from 2 professional analysts.
|01Feb17 10:09||RNS||Director Declaration|
|19Jan17 07:00||RNS||Nine Months 2016-17 Trading Update|
|16Jan17 10:00||RNS||Director/PDMR Shareholding|
|05Jan17 08:15||RNS||Royal Mail Pension Plan Consultation|
|20Dec16 12:00||RNS||Directorate Change|
|29Nov16 09:02||RNS||Directorate Change|
|17Nov16 07:00||RNS||Half-year Report|
Frequency of research reports
Research reports on
ROYAL MAIL PLC
ROYAL MAIL PLC
20 Jan 17
Today is Trump's day. While the world at large may have been shocked by his confrontation attitude, sneered at his apparent lack of sophistication, dismissed his aggression and criticized obvious conflicts of interest, global markets still have to ask themselves whether in fact he is their corporate saviour? Were the UK's Brexit vote and Trump's US victory actually flashing red lights as to prospective disintegration within the fabric of western society? Was the President-elect the only one smart enough to understand that a US crisis, possibly more obviously moral than economic, as deep as the great depression that faced Roosevelt back in the late 1920s is looming and, more to the point, that he is the only one with the courage to fix it? Time will tell but, of course, getting his revolutionary agenda - which includes the creation of 25m new jobs, more than halving corporation and personal taxes, applying swinging border and import controls, while throwing out the bulk of Federal regulation - through is now the giant challenge. Whether he eventually achieves this through a mixture of threats, coercion, bribery and possibly even charm, or finds himself so bamboozled by Congress that he simply walks off in a huff halfway through his first term in office, for sure Donald Trump is already assured that he will be more than just a footnote in American history. Contemplating all this last night, the principle US indices all struggled to make headway ending slightly down, with some considering the markets had become rather overbought in their push to see the Dow Jones break through the 20,000 marker. Traders gleaned little new from either of Janet Yellen or Theresa May's speeches yesterday, although US Treasuries still suffered their biggest sell-off in four weeks as investors became increasingly resolved to the idea of the Fed kicking off its round of rate hikes sooner rather than later. Asia ended mixed, with the Shanghai Composite making a reasonable gain on news that Chinese economic growth for 2016 came out at 6.7%, comfortably within Beijing's target range and providing relief given evidence of slow industrial activity during the fourth quarter; the Hang Seng and ASX just followed the US market lead into modest losses. Today, the UK Prime Minister is scheduled to meet with senior executives from Wall Street, while London is also due to publish December Retail Sales data along with earnings or trading updates from a few UK second-liners like Bonmarche (BON.L), Brainjuicer (BJU.L) and Midatech Pharma (MTPH.L) and, later this afternoon, a few US majors including General Electric and Procter & Gamble are expected to publish their quarterlies. In reality, however, all this will fade into the background with the new President takes to the microphone afternoon. Awaiting this, London is seen opening in a quiet, contemplative mood with the FTSE-100 seen 5 points either side of unchanged in early trading.
18 Nov 16
"Fed Chair Janet Yellen yesterday gave her strongest comments to date in favour for a policy tightening in December, telling Congress an increase could be "appropriate relatively soon." She also warned that there would be an eventual price to pay for Donald Trump's 'big government spending', in the form of inflation and a spiralling national debt. The immediate result, however, was for the Dollar to extend its rally during the Asian session, pushing it beyond the Y110 mark for the first time in five months, as yesterday's housing, jobless and inflation data also demonstrated the US to be in its best health for a decade. Another result of this was for the gap between US and German government-bond yields to widen to a 27-year high, as investors placed their bets on Trump's administration sparking an extended phase of expansion, against Europe's political risks, highlighted by Italy's forthcoming Referendum and next years' elections in Germany and France which, some believe, could potentially foster sufficient national tensions to threaten the very existence of the EU. This all blew warm winds over the US equities, with all three principal indices rising once again, as financials and technology stocks celebrated the overnight news. Asia was less convinced, with only Japan putting in a strong performance, sending the Nikkei to a 10-month high in early morning trade as the export-led territory welcomed the weakening Yen. By comparison, the Shanghai Composite closed weaker and other local markets made just fractional movements, as traders considered tomorrow's start of the APEC economic leaders conference in Peru which will discuss cooperation programmes in the Asia Pacific, Trump's proposals for protectionist tariffs and Xi Jinping's vision of the FTAAP following the anticipated collapse of TTIP. Providing no strong direction for London's opening, the FTSE-100 is seen gaining 10 or so points in early trade. There are no significant UK data releases scheduled for today, although a speech by the Bank of England's Ben Broadbent will be studied for any hints regarding of Phillip Hammond's forthcoming Autumn Statement while, later this afternoon the Fed's John Williams may reflect on Janet Yellen's Testimony. UK corporates due to report earnings or trading updates include Electrocomponents (ECM.L), Fuller, Smith & Turner (FSTA.L) and Jimmy Choo (CHOO.L)." - Barry Gibb, Research Analyst
20 Jul 16
"A quiet opening across Europe this morning is expected to see the FTSE rise around 25 points early trading. US sentiment is likely to be the principal driver, with the post-meeting statement from policy makers at the Federal Reserve suggesting they now see the economy having stronger foundations than was apparent back in June. While the central bank is still expected to leave rates unchanged at next week’s meeting while it collects more economic data, expectations for its first move since December 2015 now appear to have risen sharply, with the hot money now pointing at September. Brexit meanwhile appears to have cast a shadow over the proposed far reaching EU:US trade deal, the Transatlantic Trade and Investment Partnership or ‘TTIP’, that has been in negotiation since 2013. With the UK set to leave the table, more protectionist countries now appear to have picked up the negotiating mantel, which potentially threatens hopes of getting the deal signed before the end of Obama’s presidency. As a result, US shares closed mixed with the Dow Jones to chalking up its eighth consecutive albeit modest rise, keeping it firmly in record territory while the other principal indices gave back some of their recent gains on profit taking in technology stocks. Asian shares traded similarly this morning, as overnight US$ strength sapped Japanese investor’s confidence in the overall scope of BoJ’s much anticipated stimulus measures, leaving the Nikkei the region’s biggest loser as the Shanghai Composite and Hang Seng went in opposite directions. One of London’s main talking points today will be the meeting between Theresa May and Angela Merkel that is due to take place in Berlin. The UK is also due to release unemployment figures this morning, while corporates includingSevern Trent, Johnson Matthey, Anglo American, Fresnillo and Talk Talk are due to release results or trading updates." - Barry Gibb, Research Analyst
Panmure Morning Note 21-01-16
21 Jan 16
UKPIL volume and revenue trends for parcels and letters remained broadly in line with the first six months of the financial year. GLS performed stronger than expected and the company no longer expects margins to decline for the full year. The outlook for parcel and letters remains unchanged, as does our Hold recommendation.
Emerging from the clouds
16 Feb 17
Rolls-Royce’s underlying performance in FY16 was ahead of both its own and market expectations. Media focus on the non-cash £4.4bn headline FX loss is missing what looks to be the basis for optimism. As the civil model starts to move from investment in engines for the A350 and A330neo into the aftermarket delivery phase over the remainder of the decade, we think cash flow is likely to improve, particularly if supported by an eventual recovery in Marine.
15 Feb 17
At the current market capitalisation of £29m, we believe the shares are significantly undervalued. We estimate that the highly profitable Maritime business is alone worth at least £40m. With net cash of £9m at end-2016, this implies that the market is currently ascribing a combined negative value of £17m to the rest of the group, which together account for c.54% of group revenues. This is very harsh given the management actions to transform TP Group to a profit-driven Tier 2 specialist services and engineering company are bearing fruits across the divisions. TPG Managed Solutions is expected to more than double its profits in 2017, while TPG Engineering and Design & Technology are on course to deliver sustainable profits from 2019. Even if we ascribe zero value to Engineering, Design & Technology and Managed Solutions, the shares are worth 9.5p a share, a 38% upside from the current share price. BUY.
Taking the bull by the horns
15 Feb 17
Avon Rubber announced this morning that CEO Rob Rennie has left and been replaced with Paul McDonald, formerly managing director of Avon’s Dairy division. This news comes as a surprise and is likely to raise some questions over the CEO and CFO transition, with the CEO only being in post for just over a year. However, the group has appointed an executive already known to many who have followed the business, and as such should be seen as a good appointment with a track record of decisiveness and getting things done.
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Share & share alike
14 Feb 17
The rally in the last fortnight, highlighted in the table, reflects a continued flow of positive updates and economic news. The FTSE 250, Small cap and Fledgling indices have reached record highs. We are in the lull ahead of results for those companies with a December year end, a welter of economic data regarding the UK economy, the State of the Union address in the US on 28 February and the UK Budget on Wednesday 8 March. We will learn at that stage the latest forecasts from the Office of Budget Responsibility. As highlighted previously, the reaction to corporate updates will continue to set the tone.