C&C Group (CDI) (CCR)

Sector:

Beverages

Index:

FTSE 250

239.00p
   
  • Change Today:
    -0.80p
  • 52 Week High: 298.09
  • 52 Week Low: 135.67
  • Currency: UK Pounds
  • Shares Issued: 392.89m
  • Volume: 117,546
  • Market Cap: £939.00m
  • RiskGrade: 222

Berenberg lowers target price on C&C Group following rights issue

By Iain Gilbert

Date: Friday 28 May 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg lowered their target price on brewer C&C Group from 345.0p to 292.0p on Friday despite stating the group appeared to be positioning itself for recovery.
Berenberg stated C&C's 2021 full-year results, with weaker-than-expected net revenues of €737.0m a wider than anticipated group operating loss of €59.0m, was a clear sign that trading had been "significantly affected" by the Covid-19 pandemic.

The German bank, which reiterated its 'buy' rating on the stock, also highlighted that C&C's wholesale division was the driver of operating deleverage given its high fixed-cost base and 100% exposure to the UK on-trade.

However, Berenberg pointed out that the headline news in C&C's latest update was the announcement of a £151.0m fully underwritten rights issue, to be completed by 23 June.

"Although unexpected, it does not change our positive view on the prospects for the group as the economy reopens. We account for this rights issue and adjust our price target to 292.0p (exrights), accordingly," said the analysts.v

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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.

 

C&C Group (CDI) Market Data

Currency UK Pounds
Share Price 239.00p
Change Today -0.80p
% Change -0.33 %
52 Week High 298.09
52 Week Low 135.67
Volume 117,546
Shares Issued 392.89m
Market Cap £939.00m
RiskGrade 222

C&C Group (CDI) Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
24.4% below the market average24.4% below the market average24.4% below the market average24.4% below the market average24.4% below the market average
11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average
Price Trend
6.11% above the market average6.11% above the market average6.11% above the market average6.11% above the market average6.11% above the market average
100% below the sector average100% below the sector average100% below the sector average100% below the sector average100% below the sector average
Income Not Available
Growth
10.39% above the market average10.39% above the market average10.39% above the market average10.39% above the market average10.39% above the market average
55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average55.56% below the sector average

C&C Group (CDI) Dividends

  Latest Previous
  Interim Final
Ex-Div 31-Oct-19 30-May-19
Paid 13-Dec-19 19-Jul-19
Amount 5.50¢ 9.98¢

Trades for 28-Sep-2021

Time Volume / Share Price
10:09 11 @ 239.20p
10:09 3 @ 239.34p
10:08 1,045 @ 239.11p
10:05 928 @ 239.00p
10:05 247 @ 239.00p

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