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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  FirstGroup    FGP   GB0003452173

FIRSTGROUP

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FirstGroup : First Group shareholder voices his support of firm's sale of US branch

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12/17/2019 | 01:14am EST

ARCHIE MITCHELL A MAJOR First Group shareholder has welcomed the firm's decision to consider a sale of its US businesses.

The transport giant yesterday said it has appointed advisers to review its US school bus and public transit arms, adding that it will "explore all options" a month after a sinking share price pushed two big investors to urge it to dump its North American assets.

"Today is a victory for the shareholders, because at least they get transparency into what the company's intentions are," said shareholder Robert Tchenguiz, who owns a 4.7 per cent stake in the transport firm.

He added he hoped divesting from the US would boost First Group's market cap to the extent that shareholders could realise the value of their investments. "The shares should reflect the true value of the breakup right now," he said.

First Group has come under increasing pressure from Tchenguiz and other investors including Coast Capital Management to sell off its US divisions, which include First Student and First Transit.

First Group's share price climbed 5.9 per cent to 125.4p following the announcement.

(c) 2019 City A.M., source Newspaper

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Financials (GBP)
Sales 2020 7 714 M
EBIT 2020 352 M
Net income 2020 156 M
Debt 2020 832 M
Yield 2020 -
P/E ratio 2020 9,64x
P/E ratio 2021 8,73x
EV / Sales2020 0,30x
EV / Sales2021 0,30x
Capitalization 1 503 M
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Technical analysis trends FIRSTGROUP
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TrendsBullishNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 10
Average target price 140,50  GBp
Last Close Price 124,20  GBp
Spread / Highest target 32,9%
Spread / Average Target 13,1%
Spread / Lowest Target -19,5%
EPS Revisions
Managers
NameTitle
Matthew Gregory Chief Executive Officer, COO & Executive Director
David Robert Martin Non-Executive Chairman
Ryan Dirk Mangold Chief Financial Officer & Director
Warwick Brady Independent Non-Executive Director
Imelda Walsh Independent Non-Executive Director
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