|Bid||33.23 x 3200|
|Ask||33.71 x 800|
|Day's Range||32.75 - 33.25|
|52 Week Range||27.32 - 45.64|
|Beta (5Y Monthly)||0.60|
|PE Ratio (TTM)||1.50|
|Forward Dividend & Yield||2.71 (8.13%)|
|Ex-Dividend Date||Oct 01, 2020|
|1y Target Est||44.78|
British American Tobacco's Kentucky BioProcessing division has applied and is awaiting U.S. Food and Drug Administration approval to start a trial of its COVID-19 vaccine, said Kingsley Wheaton, the company's chief marketing officer, in an interview with MarketWatch. He said that approval to begin testing could be "pretty imminent." The unit already has FDA approval to test an influenza vaccine. British American Tobacco had announced in April that it was trying to create a COVID-19 vaccine and that its work there would be on a not-for-profit basis.
(Bloomberg) -- British American Tobacco Plc’s earnings demonstrated the ability of the cigarette industry to keep raising prices to compensate for lower consumption amid the Covid pandemic.Adjusted operating profit rose 3.3% at constant rates to 5.37 billion pounds ($7.1 billion). Analysts expected 5.33 billion pounds.Key InsightsTobacco again showed its ability to withstand a crisis, even though the outlook is a bit more muted than at the start of the year. The maker of Lucky Strike cigarettes last month cut its sales growth forecasts amid weaker sales in emerging markets due to lockdown measures.In markets such as South Africa, Mexico and Argentina, BAT’s revenue has suffered as governments imposed restrictions on the sale of cigarettes or ordered factory closures. In the U.S., BAT now expects industry volume to drop only 2.5%, rather than 4%, as consumer demand is performing better.The big question is how long BAT can lean on pricing so much to offset lower consumption. Higher prices and more expensive products added 8.5 percentage points to sales growth, while shipments dropped 6.3%.Market ReactionBAT’s shares have dropped 18% this year.Get MoreSee more details.Read the statement.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.
While the tobacco industry may continue to see headwinds, some companies are better positioned than others Continue reading...