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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Rolls-Royce    RR.   GB00B63H8491

ROLLS-ROYCE

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Rolls Royce : says ValueAct executive leaves board, shares fall

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12/10/2019 | 04:03am EST
FILE PHOTO: A Rolls-Royce logo is seen at the company's aerospace engineering and development site in Bristol

British engineering company Rolls-Royce said Bradley Singer, a representative of its largest shareholder the activist investor ValueAct Capital, has resigned from its board, weakening the stock.

Shares in the company, which makes engines for large airliners, lost 4% in early trading, making the company one of the top losers in Britain's bluechip index.

Rolls-Royce said on Tuesday that Singer, chief operating officer of ValueAct, left on December 9 after nearly four years as a non-executive director.

ValueAct owns a 9.35% stake in Rolls-Royce according to Thomson Reuters data. When Singer joined the board, the company's chairman Ian Davis said he would remain on it as long as ValueAct remained a significant shareholder.

Analysts at Jefferies dismissed worries that Singer's departure meant ValueAct was set to change its shareholding.

"We think it inevitable some will interpret the board change as signalling ValueAct is imminently going to reduce its shareholding, but such was the Relationship/Confidentiality Agreement between Rolls-Royce, ValueAct, and Bradley Singer that we believe there to be no substantive change," they said in a note.

A spokesman for ValueAct declined to comment on its future trading plans.

ValueAct's shareholding in Rolls-Royce was first announced in 2015 and Singer joined the board in 2016, at a time of turmoil for the company. He said on Tuesday that the company was now on a "solid path forward".

ValueAct states on its website that it regularly owns stakes for three to five years but it can hold them for ten years or more.

(Writing by Sarah Young; editing by Kate Holton)

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Financials (GBP)
Sales 2019 15 390 M
EBIT 2019 673 M
Net income 2019 -784 M
Debt 2019 1 134 M
Yield 2019 1,87%
P/E ratio 2019 -40,3x
P/E ratio 2020 19,5x
EV / Sales2019 0,92x
EV / Sales2020 0,86x
Capitalization 13 008 M
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Technical analysis trends ROLLS-ROYCE
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TrendsBearishBearishBearish
Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 872,59  GBp
Last Close Price 675,80  GBp
Spread / Highest target 79,4%
Spread / Average Target 29,1%
Spread / Lowest Target -29,7%
EPS Revisions
Managers
NameTitle
David Warren Arthur East Chief Executive Officer & Director
Ian Edward Lamert Davis Chairman
Stephen Wayne Daintith Chief Financial Officer & Director
Paul Stein Chief Technology Officer
Lewis William Killcross Booth Independent Non-Executive Director
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