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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  BAE Systems    BA.   GB0002634946

BAE SYSTEMS

(BA.)
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Delayed Quote. Delayed London Stock Exchange - 07/19 11:35:23 am
523.2 GBp   +1.16%
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British engineer Cobham reassures investors with growing order intake

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08/03/2018 | 03:20am EDT

LONDON (Reuters) - British engineer Cobham steadied investor nerves on Friday as a growing order intake helped it to reiterate full-year profit targets just a week after a contractual dispute with Boeing hit its shares.

Known for its air-to-air refuelling technology, Britain's third biggest defence and aerospace group after Rolls-Royce and BAE Systems has been in recovery mode since a string of profit warnings forced it into a rights issue in 2017.

Last week it said it would now cost an additional $53 million to complete its work on Boeing's troubled KC-46 aerial refueling programme, with delays straining ties between the two groups and sending its shares down 10 percent.

On Friday it said its stronger balance sheet, improving order book and higher operating margin gave it confidence in the medium and longer term. For 2018 it said underlying profit remained unchanged "with a range of potential outcomes".

Shares in the group rose an initial 3 percent in early trading before slipping back to be up 0.5 percent, giving it a market value of 3 billion pounds.

"These underlying results show that we are making encouraging progress to improve our operational performance, with the business and the balance sheet in better shape," Chief Executive David Lockwood said.

"Risks and challenges remain and we are continuing to engage with Boeing to resolve the issues around the KC-46 tanker programme."

Its order intake stood at 1.03 billion pounds, up from 916 million pounds in 2017. Revenue and operating profit both slipped.

Jefferies analyst Sandy Morris, with a Buy rating on the stock, said the 25 percent organic increase in the order intake reaffirmed its investment case, notwithstanding the uncertainty around Boeing's "unquantified" claims on the KC-46 contract.

(Reporting by Kate Holton; editing by Sarah Young and Alexander Smith)

Stocks mentioned in the article
ChangeLast1st jan.
BAE SYSTEMS 1.16% 523.2 Delayed Quote.13.94%
BOEING COMPANY (THE) 4.50% 377.36 Delayed Quote.11.97%
COBHAM PLC 1.28% 119.15 Delayed Quote.21.93%
ONE STOP SYSTEMS INC -1.21% 1.63 Delayed Quote.-15.98%
ROLLS-ROYCE 0.84% 863.2 Delayed Quote.4.00%
VALUE8 2.51% 5.72 Delayed Quote.20.68%
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Financials (GBP)
Sales 2019 19 764 M
EBIT 2019 2 039 M
Net income 2019 1 218 M
Debt 2019 1 309 M
Yield 2019 4,41%
P/E ratio 2019 13,7x
P/E ratio 2020 12,7x
EV / Sales2019 0,91x
EV / Sales2020 0,86x
Capitalization 16 747 M
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Technical analysis trends BAE SYSTEMS
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TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
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Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 570,06  GBp
Last Close Price 523,20  GBp
Spread / Highest target 31,9%
Spread / Average Target 8,96%
Spread / Lowest Target -31,6%
EPS Revisions
Managers
NameTitle
Charles Nicolas Woodburn Chief Executive Officer & Director
Roger M. Carr Chairman
Peter John Lynas Executive Director & Group Finance Director
Nigel Whitehead Chief Technology Officer
Steve N. Millward Chief Information Officer
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