Wednesday broker round-up
2nd Mar 2016 16:45
(ShareCast News) - Just Eat: JP Morgan reiterates overweight with a target price of 393p and Investec reiterates buy with a target price of 479p. Capital & Counties Properties: Morgan Stanley downgrades to underweight with a target price of 330p. Rightmove: Jefferies upgrades to hold with a target
Read moreWeak drilling activity, strong dollar hurts Elementis
1st Mar 2016 11:56
(ShareCast News) - A reduction in oilfield drilling and a strong dollar had a big impact on Elementis in 2015, with the company reporting its preliminary results for the calendar year on Tuesday. The FTSE 250 firm saw total sales decrease 14.12% to $678.8m (£485.2m) during the year, from $790.4m in
Read moreElementis warns 2015 earnings at lower end of expectations
17th Dec 2015 07:37
(ShareCast News) - Specialty chemicals company Elementis has warned 2015 earnings will be at the lower end of market expectations. The company said that since its interim management statement in October, markets had continued to be "challenging". "Due to the cash generative nature of the group and
Read moreElementis confirms new CEO appointment
9th Nov 2015 08:05
(ShareCast News) - Specialty chemicals company Elementis said Paul Waterman will become the new group chief executive (CEO) early next year. In a short statement released on Monday, the FTSE 250 group confirmed the current CEO of BP Lubricants, who had been named as CEO-designate in early October, w
Read moreElementis confident of recovery in full-year earnings
30th Oct 2015 08:26
(ShareCast News) - Chemical specialist Elementis said full-year earnings should be in line with expectations despite a sales slowdown. In a trading statement, Elementis said positive first half trends were expected to continue, "despite challenging conditions" in the Chinese and US oilfield sectors.
Read moreElementis' interim profit declines as oil and gas sales drop
28th Jul 2015 10:06
(ShareCast News) - Chemicals group Elementis saw its first half pre-tax profit decline, as its oil and gas related and businesses reported a drop in sales. The London-listed group said its pre-tax profit fell 9% year-on-year to $65.3m (£42m) in the six months to the end of June, as sales fell by the
Read moreBroker Tips: Petrofac, Entertainment One, Admiral, Sage, Debenhams, Elementis
25th Jun 2015 10:43
Petrofac shares rose 3.2% on Thursday after Nomura upgraded the stock to 'buy' from 'neutral' and raised the price target to 1,130p from 765p. The broker said the valuation was undemanding in the context of an incrementally positive Middle East outlook and improved risk/reward of Integrated Energy S
Read moreJP Morgan downgrades Elementis to 'neutral' after profit warning
25th Jun 2015 10:12
JPMorgan Cazenove downgraded Elementis to 'neutral' from 'overweight' and cut the price target to 275p from 313p following the company's profit warning on Wednesday. JPM said the downgrade reflected the likelihood of a period of relative weakness as the market awaits signs of a more stable trading e
Read moreLondon close: UK markets hit two-week high despite Greek impasse
24th Jun 2015 16:24
Fading optimism over an imminent short-term funding deal for Greece didn't stop UK stocks from rising for the fifth straight day, as decent gains from a number of blue chips bolstered markets. The FTSE 100 ended the day up 0.15% at 6,844.80, its highest close since 11 June. Supermarket stocks, oil
Read moreFTSE 250 movers: Elementis plummets on profit warning, Stagecoach up on stronger profits
24th Jun 2015 12:55
Mid-caps edged lower on Wednesday, as gains made by transport, retail and property stocks were eclipsed by weakness in the industrial metals and computer services sectors. As of 14:30 BST, the FTSE 250 was trading 0.5% lower at 17,911. Ladbrokes reversed Tuesday's gains, which were driven by the co
Read moreLondon midday: UK market rises despite Greek uncertainty, supermarket stocks gain
24th Jun 2015 12:00
Strong gains from supermarket, oil and mining stocks bolstered UK markets on Wednesday as investors shrugged off worrying reports that creditors have rejected Greece's reform proposals. The FTSE 100 was up 0.29% at 6,854.95 by midday, with blue chips Sainsbury's, Shell and BHP Billiton among the bes
Read moreLondon open: UK stocks rise ahead of pivotal Eurogroup meeting on Greece
24th Jun 2015 09:13
UK stocks opened with small gains on Wednesday morning ahead of another Eurogroup meeting, as officials hope to secure desperately-needed bailout funds for Greece. The FTSE 100 was up 0.22% at 6,849.80 early on, rising for the fifth consecutive session. The index has not closed above this mark since
Read moreMonday broker round-up
1st Jun 2015 09:48
Lamprell: Citi reiterates neutral recommendation and raises target to 155p. British Land: JP Morgan ups target to 970p from 950p and stays at overweight. Derwent London: JP Morgan raises target to 3,900p from 3,800p but keeps at overweight. Great Portland Estates: JP Morgan lifts target to 920p fr
Read moreElementis CEO to step down in 2016
19th May 2015 07:57
Elementis chief executive David W. Dutro will step down from his role in 2016, the specialty chemicals company said on Tuesday. In a short statement, the FTSE 250 group said it had already begun a search process to identify and appoint a successor to Dutro, who will leave the company after 17 years.
Read moreElementis profits growth disappoints but extra cash funds special dividend
24th Feb 2015 10:05
Speciality chemicals group Elementis overcame a tough final quarter to deliver solid progress in pre-tax profit and sales for 2014 on the back of a strong performance in its North American business. Pre-tax profit rose 4% to $141.9m (£91.9m) on the back of sales up 2% to $790.4m, as strong growth i
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