Cobham (COB)

Sector:

Defense and Aeronautics

Index:

FTSE 250

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162.80p
   
  • Change Today:
    -0.20p
  • 52 Week High: 168.30
  • 52 Week Low: 96.84
  • Currency: UK Pounds
  • Shares Issued: 2,391.01m
  • Volume: 4,986,426
  • Market Cap: £3,892.56m
  • RiskGrade: 333
  • Beta: 0.01

Cobham reports in-line trading, somewhat non-committal on outlook

By Alexander Bueso

Date: Thursday 25 Apr 2019

LONDON (ShareCast) - (Sharecast News) - Defence electronics and communications specialist Cobham described first quarter trading conditions as in-line with management's expectations as it continued to work on streamlining and simplifying its business, but in terms of the full-year outlook, and although management expected to continue making "progress", a "range of potential outcomes" was still deemed possible.
In a trading update published ahead of the firm's annual shareholders' meeting, Cobham boss David Lockwood said: "We continue to focus on improving operational performance and simplifying the business."

"[...] Over the past two years, we have returned Cobham to financial strength, announced our new capital allocation and dividend policy and, slowly but surely, we are resolving the contract, legal and regulatory issues that the business has faced."

During the quarter, the company began its cost reduction plan at its Advanced Electronic Solutions Sector unit, which focuses on communication and electronic warfare systems, with executives anticipating savings of $20m for 2019.

At the Mission Systems unit meanwhile, it continued to advance on completing the qualification process for its wing aerial refuelling pod for the US Air Force's KC-46 tanker, with completion penciled-in for the middle of 2020.

Cobham also put paid during the period to its ongoing dispute with the US Air Force as regards its WARP, paying the $63m balance that was left due on the settlement.

The company also announced its pick to become its next chairman, Jamie Pike, starting from 1 May.

The board's outlook was unchanged from that provided on 7 March, the company said in a statement, while highlighting "the considerable opportunities to improve the performance of the Group over the medium term and the continuing focus on customers, culture, operational improvement, business simplification and cash will allow the Group to realise its potential."

At the start of March, Cobham had said that "overall the Board's expectations for progress in 2019 remain unchanged with a range of potential outcomes. We continue to believe that there are considerable opportunities to improve the performance of the Group over the medium term."

As of 0910 BST, shares in Cobham were edging up by 0.17% to 115.65p.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Cobham Market Data

Currency UK Pounds
Share Price 162.80p
Change Today -0.20p
% Change -0.12 %
52 Week High 168.30
52 Week Low 96.84
Volume 4,986,426
Shares Issued 2,391.01m
Market Cap £3,892.56m
Beta 0.01
RiskGrade 333

Cobham Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
73.6% below the market average73.6% below the market average73.6% below the market average73.6% below the market average73.6% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Price Trend
89.45% above the market average89.45% above the market average89.45% above the market average89.45% above the market average89.45% above the market average
84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average84.62% above the sector average
Income
87.73% below the market average87.73% below the market average87.73% below the market average87.73% below the market average87.73% below the market average
83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average83.33% below the sector average
Growth
91.91% below the market average91.91% below the market average91.91% below the market average91.91% below the market average91.91% below the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average

What The Brokers Say

Strong Buy 0
Buy 0
Neutral 9
Sell 0
Strong Sell 1
Total 10
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Cobham Dividends

  Latest Previous
  Interim Interim
Ex-Div 10-Oct-19 06-Oct-16
Paid 08-Nov-19 04-Nov-16
Amount 0.40p 2.03p

Trades for 16-Aug-2019

Time Volume / Share Price
16:35 2,230,042 @ 162.80p
16:29 881 @ 162.85p
16:29 447 @ 162.80p
16:29 1,361 @ 162.85p
16:29 17,000 @ 162.85p

Cobham Key Personnel

CEO David Lockwood
CFO David Mellors
Chair Jamie Pike

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