NEX.L - National Express Group PLC

LSE - LSE Delayed Price. Currency in GBp
419.20
+0.20 (+0.05%)
As of 9:14AM BST. Market open.
Stock chart is not supported by your current browser
Previous Close419.00
Open418.80
Bid419.00 x 0
Ask419.40 x 0
Day's Range418.40 - 420.40
52 Week Range356.00 - 450.20
Volume14,024
Avg. Volume509,734
Market Cap2.145B
Beta (3Y Monthly)0.59
PE Ratio (TTM)15.24
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield0.15 (3.67%)
Ex-Dividend Date2019-08-29
1y Target EstN/A
  • Is It Smart To Buy National Express Group PLC (LON:NEX) Before It Goes Ex-Dividend?
    Simply Wall St.

    Is It Smart To Buy National Express Group PLC (LON:NEX) Before It Goes Ex-Dividend?

    Readers hoping to buy National Express Group PLC (LON:NEX) for its dividend will need to make their move shortly, as...

  • Is National Express Group PLC's (LON:NEX) 3.5% Dividend Worth Your Time?
    Simply Wall St.

    Is National Express Group PLC's (LON:NEX) 3.5% Dividend Worth Your Time?

    Today we'll take a closer look at National Express Group PLC (LON:NEX) from a dividend investor's perspective. Owning...

  • Thomson Reuters StreetEvents

    Edited Transcript of NEX.L earnings conference call or presentation 25-Jul-19 8:30am GMT

    Half Year 2019 National Express Group PLC Earnings Presentation

  • Shareholders Should Look Hard At National Express Group PLC’s (LON:NEX) 10% Return On Capital
    Simply Wall St.

    Shareholders Should Look Hard At National Express Group PLC’s (LON:NEX) 10% Return On Capital

    Today we'll evaluate National Express Group PLC (LON:NEX) to determine whether it could have potential as an...

  • National Express Group PLC (LON:NEX): What Can We Expect From This High Growth Stock?
    Simply Wall St.

    National Express Group PLC (LON:NEX): What Can We Expect From This High Growth Stock?

    National Express Group PLC's (LON:NEX) announced its latest earnings update in March 2019, which signalled that the...

  • Bloomberg

    The Short Road From Libor's Death to `Armageddon'

    (Bloomberg Opinion) -- When law firm Linklaters decided to organize a seminar about the forthcoming demise of Libor last week, it planned to hold the event in its London auditorium, which seats about a hundred people. After more than 500 attendees signed up, it was forced to move to a larger venue.Thursday’s packed attendance at the Honourable Artillery Company’s headquarters strikes me as testament to how corporate treasurers, bankers, accountants and consultants are belatedly realizing the scale of the task finance faces in replacing what was dubbed – and still arguably is – the world’s most important interest rate. But the awakening may still have come too late to avoid a chaotic and expensive denouement to the benchmark.The borrowing costs known as the London interbank offered rates are embedded throughout the DNA of finance. Untangling them, after the Financial Conduct Authority’s announcement two years ago that they’ll be phased out by the end of 2021, is proving difficult through a combination of apathy, complexity and a lingering hope that Libor will somehow limp on in some form or other.In the worst-case scenario, the disappearance of Libor could lead to the courts ruling that some existing contracts are deemed to have been frustrated. In legal terms, that happens when an event either makes enforcement of a contract impossible, or completely undermines the contract’s original intentions.This would place the market in largely uncharted territory – “contractual Armageddon,” in the words of Rick Sandilands, senior counsel, Europe at the International Swaps and Derivatives Association.The most extreme outcomes could be for the frustrated contracts to be unwound as if they never happened in the first place, or a court trying to account for the various benefits that had accrued during the contract’s life to come up with a settlement that treated parties to the agreement fairly.It’s an unlikely, though not impossible, scenario. But many of the legal experts who spoke at the Linklaters conference discussed the need for flexibility when writing or amending contracts that run past Libor’s end-date, because it’s still not 100% clear what form the replacement interest rate will eventually take, especially given that different countries are seeking different solutions.And where a lawyer sees elasticity, a hedge-fund may see potential profit. There’s a non-negligible risk that where a contract change creates a winner and a loser in financial terms, litigiously minded mischief makers may try their luck.Even without that doomsday outcome, rewriting contracts that refer to Libor is fraught with byzantine convolutions. Take, for example, a syndicated loan that pays interest based on Libor and was used to finance a toll road in Spain. Changing the terms probably requires the consent of the syndicate of banks that arranged the loan, as well as the borrower, as well as the providers of any hedging agreements undertaken, and maybe the agreement of the Spanish local authority that leased or sold the land the road is on. Now multiply that across the entire project finance universe to see the complexity of the shift to new benchmark borrowing costs.There has been some progress in persuading U.K. companies to adopt the Sterling Overnight Interbank Average rate, the preferred replacement for Libor. Last month, Associated British Ports Plc switched its 65 million pounds ($81.4 million) of floating-rate notes to making interest payments tied to Sonia rather than Libor. And last week, National Express Group Plc took out the first Sonia-based loan, from Royal Bank of Scotland Group Plc’s NatWest unit.While both are desirable developments in the shift to the overnight benchmark, a few deals do not a transition make. Linklaters estimates as much as $2 trillion of loans risk being left “in limbo” by Libor’s demise. And while more than 40 new sterling floating-notes tied to the new benchmark have been sold this year, there are billions of dollars, pounds and yen of outstanding notes that still base their payments on Libor – as much as $864 billion worth, according to the International Capital Markets Association.The logistical difficulty of rounding up the disparate investors in those securities to get them to agree to change the reference benchmark is daunting, to say the least. Moreover, even when the paperwork contains language about what to do if Libor isn’t available, that documentation was designed for brief periods of absence, rather than envisaging a world without Libor.In many cases, the interest payments revert to a fixed rate based on the final Libor determination – again creating the prospect of legal action from financially disadvantaged actors, legitimate or otherwise.Edwin Schooling Latter, the FCA’s director of markets, warned last week’s conference participants that they can expect “a lot of supervisory interest” if the regulator decides customers are being gouged by members of the finance community gaming the changes. He was adamant, meantime, that participants should come up with market solutions to the realignment rather than relying on the regulator to intervene.“I love deadlines,” wrote Douglas Adams, the British author of books including the Hitchhikers Guide to the Galaxy. “I love the whooshing noise they make as they go by.” With less than two and a half years before Libor’s scheduled death, the explosion in the world of finance if it arrives at the deadline without more preparation than is currently happening will be somewhat louder than a whoosh.To contact the author of this story: Mark Gilbert at magilbert@bloomberg.netTo contact the editor responsible for this story: Jennifer Ryan at jryan13@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Mark Gilbert is a Bloomberg Opinion columnist covering asset management. He previously was the London bureau chief for Bloomberg News. He is also the author of "Complicit: How Greed and Collusion Made the Credit Crisis Unstoppable."For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • How Financially Strong Is National Express Group PLC (LON:NEX)?
    Simply Wall St.

    How Financially Strong Is National Express Group PLC (LON:NEX)?

    Investors are always looking for growth in small-cap stocks like National Express Group PLC (LON:NEX), with a market...

  • Bloomberg

    Why Greyhound Bus's Biggest Shareholder Hates British Trains

    (Bloomberg Opinion) -- Coast Capital LP, a New York hedge fund, tried and failed on Tuesday to oust the board of directors of FirstGroup Plc, an under-performing bus and train company whose assets include the Greyhound intercity bus network. Wisely, FirstGroup’s chairman Wolfhart Hauser saw the writing on the wall and resigned anyway, but not before both sides had publicly disparaged the other’s credentials and track record in an unedifying clash of the capitalist classes.In theory, the vote clears a path for the company’s CEO Matthew Gregory to implement his plan to refocus its operations on North America, where margins are better, and to sell Greyhound. Yet 25% of the votes cast supported removing Gregory from his position (other directors fared even worse). It’s telling that the share price has fallen 12% since just before his new strategy was announced last month. The battle over who should lead FirstGroup, and how to win around its long-suffering shareholders, isn’t over.The ritzy venue for Tuesday’s shareholder gathering, the Grand Connaught Rooms in Covent Garden, is a world away from FirstGroup’s humdrum but important activities, which include bus and train services in Britain and yellow school buses and Greyhound coaches in the U.S.The company’s 100,000 employees were doubtless unsettled when the American private equity group Apollo Global Management LLC made an approach last year, which the company rejected. Now FirstGroup’s senior managers and its top shareholder, Coast Capital, say they want to break up the group but they can’t agree on how to do it.The status ​quo is no longer an option. ​In an age of climate change, congestion and aging populations, mass transit should be a money-spinner. In reality, budget airlines have undercut demand for long-distance bus travel and a buoyant labor market has caused driver shortages. Meanwhile, running train franchises in the U.K. is a recipe for trouble because of infrastructure problems, timetable issues and industrial action.The upshot is that FirstGroup is a hodgepodge of assets that consumes lots of capital for little reward. There are few synergies that justify keeping it all together, which explains why it has performed worse than peers such as National Express Group Plc. which exited rail in 2017.Coast Capital didn’t help its own activist cause by calling on the management to buy back shares, sell and lease back assets and restart dividend payments. That all smacked of financial engineering rather than trying to get to the heart of the business’s problems.FirstGroup has good reason to not want to use its cash on investor payouts. It’s saddled with large pension and insurance burdens and 900 million pounds ($1.1 billion) of net debt. Transport contracts are prone to nasty surprises: The company has booked 250 million pounds of provisions on onerous rail contracts over the past two years, which contributed to 400 million pounds of losses. Cash flow is volatile.The hedge fund is on safer ground in calling for a swifter exit from the British rail activities. Gregory, who was finance director before taking the top job last year, has spread confusion by announcing his pivot to the U.S. while still bidding for the U.K.’s West Coast mainline rail franchise. The share price is unlikely to recover much unless it jettisons that British political and regulatory risk. The hard-left Labour Party leader Jeremy Corbyn hopes to re-nationalize the railways should he win power.Selling Greyhound probably won’t deliver too many proceeds, so FirstGroup’s transformation might be a slow one. Shareholders have been waiting long enough already. The company’s shares have fallen 85% since a 2007 peak and are roughly where they were in 2013 when it raised capitalHence Coast Capital’s desire for a clean separation of the U.S. and U.K. businesses is understandable even if pension obligations complicate the picture. If Gregory can’t offer shareholders a brighter and more bankable future than this, Tuesday’s schism won’t be the last.To contact the author of this story: Chris Bryant at cbryant32@bloomberg.netTo contact the editor responsible for this story: James Boxell at jboxell@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Bryant is a Bloomberg Opinion columnist covering industrial companies. He previously worked for the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Benzinga

    Kango, A Ride-Sharing Service For School-Age Kids, Raises $3.6M In Series A

    The kids' ride sharing service Kango scored $3.6 million in Series A, the company announced. National Express, a transportation firm that operates a fleet of more than 25,000 vehicles and serves 600 school districts in 30 states, led the round. As part of the agreement, David A. Duke, CEO emeritus of National Express, is joining Kango's board.

  • With EPS Growth And More, National Express Group (LON:NEX) Is Interesting
    Simply Wall St.

    With EPS Growth And More, National Express Group (LON:NEX) Is Interesting

    For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to...

  • Was National Express Group PLC's (LON:NEX) Earnings Growth Better Than The Industry's?
    Simply Wall St.

    Was National Express Group PLC's (LON:NEX) Earnings Growth Better Than The Industry's?

    In this article, I will take a look at National Express Group PLC's (LON:NEX) most recent earnings update (31 December...

  • Despite Its High P/E Ratio, Is National Express Group PLC (LON:NEX) Still Undervalued?
    Simply Wall St.

    Despite Its High P/E Ratio, Is National Express Group PLC (LON:NEX) Still Undervalued?

    Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift...

  • Reuters

    Deutsche Bahn asks for expressions of interest in Arriva by May 3

    German railway operator Deutsche Bahn has asked potential suitors of its British unit Arriva to express their interest in the asset by May 3, according to an advertisement published in the Financial Times newspaper on Wednesday. Deutsche Bahn said in the ad that it was working with Citi and Deutsche Bank on the divestiture and that it was open to a sale of all of Arriva to one or multiple parties, adding that a flotation is also an option. The company has come under pressure to plug a funding gap and has said that a sale or listing could help it limit the rise in its debt and give Arriva - which it bought in 2010 - financial leeway for growth.

  • National Express Group PLC (LON:NEX): What’s In It For The Shareholders?
    Simply Wall St.

    National Express Group PLC (LON:NEX): What’s In It For The Shareholders?

    Want to participate in a research study? Help shape the future of investing tools and earn a $60 gift card! Two important questions to ask before you buy National Express Group PLC (LON:NEX) is, how it makes money and how it spends i...

  • Deutsche Bahn to work with Deutsche Bank, Citi on Arriva sale - sources
    Reuters

    Deutsche Bahn to work with Deutsche Bank, Citi on Arriva sale - sources

    German railway operator Deutsche Bahn has picked Deutsche Bank and Citi as advisors on its potential sale or flotation of British unit Arriva, people close to the matter said on Thursday. Deutsche Bahn said last week it was exploring the sale of Arriva - expected to be valued at more than 3 billion euros (2.56 billion pounds) - adding this would enable the group to lower its debt pile. Deutsche Bahn and the banks declined to comment.

  • Moody's

    National Express Group PLC -- Moody's announces completion of a periodic review of ratings of National Express Group PLC

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of National Express Group PLC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • How Do Analysts See National Express Group PLC (LON:NEX) Performing In The Year Ahead?
    Simply Wall St.

    How Do Analysts See National Express Group PLC (LON:NEX) Performing In The Year Ahead?

    As National Express Group PLC (LON:NEX) announced its earnings release on 31 December 2018, the consensus outlook from analysts appear somewhat bearish, with earnings expected to grow by 8.3% inRead More...

  • Thomson Reuters StreetEvents

    Edited Transcript of NEX.L earnings conference call or presentation 28-Feb-19 11:00am GMT

    Full Year 2018 National Express Group PLC Earnings Presentation

  • Have Insiders Been Selling National Express Group PLC (LON:NEX) Shares This Year?
    Simply Wall St.

    Have Insiders Been Selling National Express Group PLC (LON:NEX) Shares This Year?

    It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be remiss not to mention that insider sales haveRead More...

  • Should National Express Group PLC’s (LON:NEX) Weak Investment Returns Worry You?
    Simply Wall St.

    Should National Express Group PLC’s (LON:NEX) Weak Investment Returns Worry You?

    Today we are going to look at National Express Group PLC (LON:NEX) to see whether it might be an attractive investment prospect. Specifically, we're going to calculate its Return On Read More...

  • Does National Express Group PLC’s (LON:NEX) CEO Pay Reflect Performance?
    Simply Wall St.

    Does National Express Group PLC’s (LON:NEX) CEO Pay Reflect Performance?

    Dean Finch has been the CEO of National Express Group PLC (LON:NEX) since 2010. This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies Read More...

  • Simply Wall St.

    Should National Express Group PLC (LON:NEX) Focus On Improving This Fundamental Metric?

    One of the best investments we can make is in our own knowledge and skill set. With that in mind, this article will work through how we can use Return Read More...