La propietaria de marcas como Lucky strike o Pall Mall tuvo en 2016 un beneficio neto atribuido de 5.488 millones (+8,3%).
La facturación alcanzó los 17418 millones (+12.5%).
El pasado fin de semana me fumé un puro… eso sí de Cohiba… en la que Imperial Tobacco tiene la mitad. 
Me estoy planteando tomar alguna posicion en BATS, al precio actual su yield es del 5%, y sus números parecen que no son malos. Del sector tabaco llevo unicamente IMB, que os parece? Alguna otra posibilidad mejor que esta?
Si haces caso al punto número 2 todas las empresas tabaqueras están más o menos en rango de compra. Yo llevo el póker (IMB, BATS, PM, MO) y alguna vez le he echado el ojo a la que falta para el repoker (Japan Tobacco)
My personal investing preference for high yield investing is this:
- See if there are any high-income generating pharmaceutical stocks, ideally with a consumer healthcare division, that are trading at a discount.
- See if there are any tobacco stocks trading at a valuation below 14x earnings, as this is the valuation metric in which you get both high income and future outperformance, and are well compensated for regulatory and taxation risk of the sector.
- See if Royal Dutch Shell and BP are yielding over 6.5%, or Exxon Mobil and Chevron are yielding over 4%. These are price points where future success is a likelihood. Exxon is likely one of the best income investments you can make today, and I would choose it ahead of even GlaxoSmithKline if capital appreciation is as important to you as current income.
- See if REITs are yielding over 6% with a manageable debt, and restrict yourself to the excellent management teams of firms like Realty Income and W.P. Carey.
- If all else fails, buy more AT&T
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Revenue from new category products, which include its Vype and Vuse vaping pens, is forecast to increase by 30% to 50% for the year.
The sharp rise in new category revenue should offset the impact of declining tobacco sales in the group’s core US market, where BAT generates about 40% of its revenue. Globally, BATS sees the volumes of cigarettes falling 3.5% over the year.
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Y como confirma el outlook van y le dan en todo el lomo … mi no entender … 
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Un saludo.
Se ha instalado una narrativa en el mercado que es dar leñazo al tabaco a la menor oportunidad. No es solo que confirmen el outlook es que la caida de ventas ha sido telegrafiada desde hace semanas por Altria e IMB y el mercado tendria que descontarla. Ademas cotiza a PER 8.xx.
No es lo mismo que empresas que simplemente mantienen el guidance pero cotizan a PER 30 que el mercado espera un beat & rise
Desesperante es poco
Pues oportunidad para ampliar en BATS. ¿Esto que es, value, deep value, contrarían?
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Desesperante, la palabra era desesperante 
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Un saludo.
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Analysts at Morgan Stanley downgraded industry giant British American Tobacco to ‘underweight’ on Monday, noting that, in its view, the threat of a “maximum nicotine policy” in the US had not been reflected in the group’s share price.
Morgan Stanley said making the ‘buy’ case for British American was “easy”, stating the firm represented a “structural growth story” suffering a temporary perception setback and labelled the group as “cheap”, “unloved” and offering “a great long-term entry point.”
However, MS believes the “high impact on future profits” stemming from a potential regulation change Stateside was not “fully understood or appropriately reflected” in BAT’s share price.
"In our scenario analysis we take a conservative stance on new regulation, assuming regulation to reduce nicotine to non-addictive levels takes until 2035 to come into force. However, even in this scenario we estimate that BAT’s US profits could be as much as 50% lower and ~13% of future value at risk to the ma
MS also highlighted that prior to acquiring Reynolds, BAT delivered a roughly 20% return on invested capital, generating £3.5bn of free cash flow, but post-acquisition, while the analysts estimate that ROIC had fallen to 7% and leverage had risen to around 4x in 2018, the business was set to generate £7bn of free cash.
“This company has consistently delivered 3-5% top-line growth, 5-8% profit growth and 8-12% EPS growth, putting it right in the top tier of the global Staples group, but the stock is on just 8.5x 2020e P/E with an ~11% FCF yield and an ~8% dividend yield.”
In summary, MS felt the combined risks from regulatory change, disruption/investment requirements, changing consumer behaviour and high leverage gave it more than enough cause to turn “incrementally more bearish”.
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Si MS recomienda infraponderar habrá que pensar en sobreponderar…
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Si, pero no lo digas muy alto, por si sigue bajando, la ley de Murphy es muy c…
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Habrá que estar atento a ver si el precio consigue romper el canal bajista (que podría ser el toque de corneta que están esperando los que operan por técnico), o se le da por continuar el camino hacia abajo.
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Muy buenas, ¿alguien sabe qué le pasa a este torpedo hoy? En vez de descontar el dividendo trimestral parece que esté descontando el de todo el año de golpe. Vaya cruz.
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me gusta como ha aplanado la media 200 y ya se atisba ascendente. varios cierres por encima darian algo de aire. Como lo ven?
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Suben un 3,6% el dividendo anual
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