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Pz Cussons Share News (PZC)
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Pz Cussons Information
Share Price Information for Pz Cussons (PZC)
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Share Price:
98.80
Bid:
99.00
Ask:
99.90
Change:
-0.30 (-0.30%)
Spread:
0.90 (0.909%)
Open:
100.00
High:
100.00
Low:
98.20
Prev. Close:
99.10
Last checked at -
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Don't have an account? Click here to register.PZ Cussons slumps on Canaccord downgrade
Fri, 03rd Jun 2016 09:59
(ShareCast News) - PZ Cussons was under the cosh on Friday after Canaccord Genuity cut the stock to 'hold' from 'buy', keeping the price target at 345p as it recommended taking profits ahead of the full-year update.The brokerage noted that since the interim results on 26 January, the shares are up 37%, helped by a 57% rise in the oil price and outperforming the FTSE 250 index by 31%."We think risk from the scheduled full year trading update on 9th June is no better than equally weighted (with April's update stating that performance 'overall...has been in line with expectations'), and would take profits in the light of the rerating and the lack of a near-term catalyst."Canaccord pointed out that Nigeria, having been as much as 40-45% of group profit three years ago, now accounts for just 25%. It said visibility here remains limited, with further devaluation of the naira possible and Cussons continuing to have to buy dollars at a 50% - or higher - premium to the official rate."While the company has been drawing on its 100+ years of experience in Nigeria, enabling it to perform creditably in Home & Personal Care products (through the sale of smaller pack sizes, for example), we see little prospect of a near term rebound in its more economically sensitive electrical white goods business in Nigeria - despite a strong market share performance."As a result, the brokerage cut its growth assumptions for the Africa division.Still, it said Cussons' performance elsewhere continues to be strong.At 1010 BST, shares were down 3% to 330.30p.
More News
9 Jun 2016 08:07
PZ Cussons reports on mixed year of trading
(ShareCast News) - Consumer products group PZ Cussons issued a trading update on Thursday, confirming to the market that performance for the year ended 31 May was in line with expectations. The FTSE 250 firm said performance in Europe and Asia offset more difficult trading conditions in Africa, and
Read more6 Jun 2016 07:51
PZ Cussons appoints Caroline Silver as new chair
(ShareCast News) - Imperial Leather maker PZ Cussons has appointed Caroline Silver as non-executive chair effective from 1 January 2017 following the retirement of Richard Harvey. Silver, who was appointed as a non-executive director in April 2014, is currently senior independent director and chair
Read more3 Jun 2016 10:57
Broker tips: HSBC, PZ Cussons, IG Group
(ShareCast News) - Investec downgraded HSBC to 'hold' from 'buy', pointing to just under 1% residual upside to its unchanged 450p price target. "Our continuing belief that HSBC can, should and will maintain an (uncovered) 51c dividend, an implied 2016e dividend yield of 7.9% is, by itself, insuffici
Read more2 Jun 2016 15:09
26 Apr 2016 08:18
Harvey swaps PZ Cussons boardroom for Pacific retirement
(ShareCast News) - Consumer products group PZ Cussons was losing its non-executive chairman to the allure of antipodes on Tuesday, with Richard Harvey announcing his intention to step down on 31 December and retire to New Zealand. The FTSE 250 firm said it has begun the process of identifying a succ
Read more19 Apr 2016 13:51
Tuesday broker round-up
(ShareCast News) - Telecom Plus: Berenberg downgrades to hold with a target price of 1000p and Finncap reiterates buy with a 1225p target. Greggs: Berenberg upgrades to hold with a target price of 1020p. Zoopla: Credit Suisse reiterates outperform with a target price of 340p. Plus500: Berenberg st
Read more14 Apr 2016 13:33
Broker tips: PZ Cussons, Tesco, Johnson Matthey
(ShareCast News) - Shares in PZ Cussons were in the red on Thursday as Numis reiterated its 'reduce' rating after the company warned of difficult conditions in its main market of Nigeria. In an update for 27 January to 13 April, Cussons said overall trading has been in line with expectations and the
Read more14 Apr 2016 12:28
Numis reiterates 'reduce' rating for PZ Cussons after trading update
(ShareCast News) - Shares in PZ Cussons were in the red on Thursday as Numis reiterated its 'reduce' rating after the company warned of difficult conditions in its main market of Nigeria. In an update for 27 January to 13 April, Cussons said overall trading has been in line with expectations and the
Read more