|Bid||760.50 x 0|
|Ask||739.50 x 0|
|Day's Range||739.50 - 765.00|
|52 Week Range||499.60 - 790.00|
|Beta (3Y Monthly)||0.77|
|PE Ratio (TTM)||9.76|
|Earnings Date||Feb 19, 2020|
|Forward Dividend & Yield||0.58 (7.69%)|
|1y Target Est||1,054.00|
Today we'll look at Galliford Try plc (LON:GFRD) and reflect on its potential as an investment. To be precise, we'll...
Today we'll take a closer look at Galliford Try plc (LON:GFRD) from a dividend investor's perspective. Owning a strong...
We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly...
The FTSE 100 was 0.1% lower, while the mid-cap FTSE 250 rose 0.4%. British American Tobacco and Imperial Brands were among the biggest drags on the main index after data from Nielsen showed cigarette industry volumes deteriorated in the four weeks to May 18. The session's trading came against the backdrop of continued uncertainty over China's trade dispute with the United States, after U.S. President Donald Trump said Washington was not ready to make a deal with Beijing but that he expected one in the future.
Galliford on Saturday said it had rejected a bid from Bovis to buy its Linden Homes and Partnerships & Regeneration businesses in exchange for new Bovis Homes shares, judging it was not in the interests of all shareholders. Bovis said in a statement on Tuesday that negotiations had broken down after it followed up an initial approach with a formal offer on May 8 of 950 million pounds in its own shares as well as the assumption of 100 million pounds in debt. Galliford, under pressure from shareholders in recent months, reiterated in a separate statement on Tuesday that it remained confident in its long-term prospects.
City investors piled into struggling construction giant Galliford Try on Tuesday, on hopes that its decision to reject a £950 million approach for its housebuilding arm from Bovis Homes could lead to an auction. Bovis Homes confirmed weekend reports that it made an all-share proposal for Galliford’s Linden Homes and regeneration businesses. FTSE 250 builder Bovis said the companies are no longer in discussions.
Galliford Try said in a statement that Bovis intented to buy Galliford Try's Linden Homes and Partnerships & Regeneration arm in exchange for new Bovis Homes shares. Sky news, which reported the deal-talks first, cited a Bovis insider saying it was unlikely Bovis would be interested in Galliford Try's troubled construction division, which was responsible for a recent profit warning. If the companies pursue a full merger, the combined entity could be valued at about 2 billion pounds ($2.5 billion) and a significant chunk of any offer from Bovis for part or all of Galliford Try is likely to be in shares, Sky News said.
The FTSE 100 was up 0.3%, while the FTSE 250 rose 0.5%, with builder Galliford Try leading gains after announcing job cuts. After weeks of waiting for significant updates on Brexit, investors welcomed a "new deal" for Britain's departure from the European Union set out by Prime Minister Theresa May, which offered the prospect of a possible second referendum on the agreement.
The programme follows a strategic review, announced last month after Galliford installed a new chief executive and issued a profit warning. The results of the review are already being implemented and will see a reduction in revenue from the group's main construction business and the loss of 350 jobs across the United Kingdom, it said. The company, known for projects ranging from the redevelopment of the Wimbledon tennis venue to hospitals and city bypasses, said those moves, initially reported by the BBC in April, would accelerate progress towards a 2% target for operating margins by 2021.
The pan-European STOXX 600 index rose for a fifth-straight session led by the Swiss index and Germany's trade-sensitive DAX. The index of STOXX 50 volatility, the main gauge of market anxiety in Europe, fell to its lowest since mid-January 2018 helped by a shortened trading week for the Easter holidays. The banking, financial and insurance sectors provided the major boost, mostly drawing from earnings of big Wall street banks, with JPMorgan Chase & Co kicking off U.S. earnings on a strong note last week.