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MarketScreener Homepage  >  Equities  >  Euronext Paris  >  Airbus SE    AIR   NL0000235190

AIRBUS SE

(AIR)
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Real-time Estimate Quote. Real-time Estimate Tradegate - 10/28 04:58:26 pm
61.15 EUR   -4.45%
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Rolls-Royce shares hit 16-year low on mooted $3 billion equity raising

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09/21/2020 | 12:40pm EDT
FILE PHOTO: A man looks at Rolls Royce's Trent Engine displayed at the Singapore Airshow in Singapore

Rolls-Royce shares hit 16-year lows on Monday after the engine maker confirmed it was considering a rights issue of up to 2.5 billion pounds ($3.23 billion) following months of speculation about its finances.

Britain's best known engineering company, which makes engines for airliners, military jets and ships, put out a statement on Saturday in response to media reports.

Rolls said that no decisions have yet been taken about the precise amount to be raised or by what means.

Analysts say that Rolls' balance sheet is not in need of immediate funding.

The stock was down 8% at 165 pence at 1121 GMT.

They have shed 76% of their value this year and a tumble in recent weeks could make it even tougher to raise as much as 2.5 billion pounds from selling new shares.

The COVID-19 pandemic has hit Rolls hard as airlines pay the company according to how many hours its engines fly.

Yet given the low share price, Agency Partners analyst Nick Cunningham said raising new equity would be a last resort.

Rolls in August said it wanted to sell turbine blade maker ITP Aero and other assets to raise at least 2 billion pounds.

On Saturday it said it was also looking at equity or debt issuance.

Two senior industry executives who deal with Rolls said they believed a re-nationalisation or injection of state capital was possible, but that it was unclear whether the UK had an appetite for such a move.

Rolls was nationalised in 1971 and later privatised.

Britain owns a golden share in Rolls-Royce and the importance of the company to the UK's military capability and its economy in terms of exports, has fuelled talk of a possible government rescue.

Planemakers Boeing and Airbus are increasingly concerned about the plight of the company, according to several sources.

In July, Morgan Stanley analysts warned that a second wave of COVID-19 infections could necessitate a government bailout.

The Financial Times newspaper reported that Rolls-Royce is in discussions with sovereign wealth funds including Singapore's to help underpin any fundraising efforts, but UK consent may be needed under rules which limit foreign ownership of the company.

By Sarah Young


Stocks mentioned in the article
ChangeLast1st jan.
AIRBUS SE -4.23% 61.77 Real-time Quote.-50.95%
MORGAN STANLEY -2.18% 47.57 Delayed Quote.-7.02%
ROLLS-ROYCE HOLDINGS PLC -60.14% 84.54 Delayed Quote.-67.95%
THE BOEING COMPANY -3.79% 148.14 Delayed Quote.-54.15%
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Financials
Sales 2020 46 914 M 55 131 M 55 131 M
Net income 2020 -426 M -501 M -501 M
Net cash 2020 125 M 147 M 147 M
P/E ratio 2020 -123x
Yield 2020 0,01%
Capitalization 48 376 M 56 873 M 56 850 M
EV / Sales 2020 1,03x
EV / Sales 2021 0,89x
Nbr of Employees 135 154
Free-Float 74,0%
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Technical analysis trends AIRBUS SE
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Mean consensus OUTPERFORM
Number of Analysts 24
Average target price 81,49 €
Last Close Price 64,00 €
Spread / Highest target 92,2%
Spread / Average Target 27,3%
Spread / Lowest Target -43,6%
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Managers
NameTitle
Guillaume Faury Chief Executive Officer
René Richard Obermann Chairman
Michael Schöllhorn Chief Operating Officer
Dominik Asam Chief Financial Officer
Luc Hennekens Chief Information Officer
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