21st Sep 2016 09:39
(ShareCast News) - Deutsche Bank initiated coverage of FirstGroup, Go-Ahead and National Express as it took a look at the European Bus & Rail sector. The bank started FirstGroup at 'sell' with a 94p price target, pointing to weak free cash flow generation, high leverage and the absence of a dividend
Read more16th Aug 2016 09:52
(ShareCast News) - Regulated rail fares in England, Scotland and Wales are due to increase by 1.9% from January 2017 based on official retail price inflation increases announced on Tuesday. After the Office for National Statistics showed the retail price index (RPI) rose 1.9% in July, up from 1.7% i
Read more10th Aug 2016 08:39
(ShareCast News) - FirstGroup and National Express both failed to win the East Anglia rail franchise, which the Department of Transport awarded to Dutch-run Abellio. Abellio East Anglia, which is a subsidiary of state-owned Nederlandse Spoorwegen, will run the franchise from October 2016 after pl
Read more15th Jul 2016 07:25
(ShareCast News) - Transport operator FirstGroup said first quarter revenue decreased by 1.4% in constant currency, with revenue growth in First Student, First Transit and First Rail offset by decreases in First Bus and Greyhound. It added that there was no change to overall outlook for the current
Read more21st Jun 2016 10:46
(ShareCast News) - Train companies will be fined if their services run even one minute later than scheduled in a government effort to restore confidence in the rail network, according to reports on Tuesday. Future rail franchises will include rules that will impose penalties or dock funding from ope
Read more16th Jun 2016 07:57
(ShareCast News) - Transport operator FirstGroup said on Thursday that Hong Kong metro operator MTR Corporation will join the company in a joint venture bid for the South Western rail franchise. FirstGroup noted that MTR, which will take a 30% stake in the JV, has run successful suburban and commute
Read more15th Jun 2016 13:50
(ShareCast News) - Premier Farnell shareholders should accept a decent price for a fading business, opines the Financial Times' Lex column after yesterday's recommended bid by Daetwyler. The Leeds-based outfit made most of its money by distributing electronic components and rivalry in the market has
Read more14th Jun 2016 08:01
(ShareCast News) - FirstGroup reported a rise in full-year profit despite a drop in revenue following the loss of rail franchises. In its preliminary results for the year to the end of March, the transport operator said statutory pre-tax profit rose 7.3% from 2015 to £113.5m, despite a 13.8% decline
Read more12th May 2016 08:06
(ShareCast News) - Passengers on the East Coast Main Line were being promised more choice on Thursday, with the Office of Rail and Road granting both Virgin Trains East Coast and FirstGroup rights to operate new services on the London-to-Edinburgh railway. FTSE 250 firm Stagecoach - which owns 90% o
Read more9th May 2016 07:59
(ShareCast News) - Bad news for Stagecoach and Virgin Trains emerged as a report commission by the Office of Rail and Road backed proposals to introduce 'open access' competition to the east coast main line between London and Edinburgh. A report by engineering consultants CH2M Hill commissioned by t
Read more7th Apr 2016 07:43
(ShareCast News) - FirstGroup confirmed its overall results for the fourth quarter were in line with management's expectations as it announced a reduction in the number of trading updates it publishes in light of changes in regulatory requirements and market practice. The FTSE 250 transport operator
Read more4th Feb 2016 08:14
(ShareCast News) - Londoners' hopes for an early start to the new Overground operation were dashed by the Department for Transport on Thursday, with the announcement two private operators had been pre-qualified to run the next South Western franchise. Incumbent operator of South West Trains, Stageco
Read more29th Jan 2016 16:47
(ShareCast News) - Experian: Exane BNP Paribas upgrades to outperform with a 1350p target. Mitchells & Butlers: JP Morgan downgrades to neutral with 370p target, down from 420p Dcc: Exane BNP Paribas promotes to outperform with 6200p target. Lonmin: HSBC upgrades to buy, target 76p; Deutsche reite
Read more29th Jan 2016 12:13
(ShareCast News) - After a poor share price performance, HSBC has upgraded Lonmin from 'hold' to 'buy' but has cut its target price from 135p to 76p. The company's first quarter production report out on Thursday was mixed, according to the investment bank. "Safety stoppages impeded production momen
Read more29th Jan 2016 09:53
(ShareCast News) - RBC Capital Markets cut FirstGroup to 'underperform' from 'sector perform' and downgraded the price target to 85p from 110p following the company's profit warning on Thursday. It noted the group delivered another profit miss for full year 2015/16 from its third quarter update, add
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