KIE.L - Kier Group plc

LSE - LSE Delayed price. Currency in GBp
126.14
+3.44 (+2.80%)
As of 1:49PM BST. Market open.
Stock chart is not supported by your current browser
Previous close122.70
Open124.10
Bid125.90 x 14700
Ask126.60 x 70800
Day's range124.10 - 130.70
52-week range105.50 - 1,109.47
Volume1,510,110
Avg. volume2,160,012
Market cap204.188M
Beta (3Y monthly)1.30
PE ratio (TTM)4.29
EPS (TTM)29.40
Earnings date19 Sep 2019
Forward dividend & yield0.50 (46.39%)
Ex-dividend date2019-03-28
1y target est725.45
  • This FTSE 250 stock is plummeting. Here’s what I’d do now
    Fool.co.uk7 hours ago

    This FTSE 250 stock is plummeting. Here’s what I’d do now

    Kier Group (LON:KIE) shares fell 10% on Monday following the announcement of 1,200 job cuts.

  • Is now the time to buy Kier shares?
    Fool.co.ukyesterday

    Is now the time to buy Kier shares?

    With its shares taking yet another hit, could now be the time to invest in ultra-cheap Kier Group plc (LON: KIE)?

  • Reuters - UK Focus2 days ago

    UPDATE 2-FTSE 100 enjoys best day in 4 months after Draghi's "appetizer"

    London's main stock index recorded its best one-day gain in more than four months on Tuesday as a promise of more stimulus if required from European Central Bank (ECB) chief Mario Draghi lifted UK shares across sectors. The FTSE 100 index ended 1.2% higher, after having earlier touched levels not seen in two months, and the FTSE 250 midcap index added 0.8% after Draghi said the central bank would need to ease policy again if inflation did not head back to its target. The ECB's comments came in the midst of a two-day meeting of the U.S. Federal Reserve that money market pricing shows should clear the way to a cut in interest rates by the central bank next month.

  • Struggling Kier to cut 1,200 jobs and sell non-core businesses
    Sky News3 days ago

    Struggling Kier to cut 1,200 jobs and sell non-core businesses

    Construction and services firm Kier Group is to cut 1,200 jobs and non-core businesses as it seeks to turnaround its fortunes. The company, which has been the subject of speculation over its financial health in the wake of the collapse of Carillion, launched a strategic review in April - weeks after chief executive Haydn Mursell was effectively ousted by shareholders. The review found an insufficient focus on cash generation after years of expanding the company's interests.

  • Bloomberg3 days ago

    Where Financial Carnage Comes as Part of the Contract

    (Bloomberg Opinion) -- Serco Group Plc CEO Rupert Soames frequently boasts that the U.K. contracting firm was an early adopter of financial carnage – to stress that the business is now the better for it.Pulling through a crisis five years ago has given Soames the credibility to embark on M&A, and he has had his eye on defense contractor Babcock International Group Plc.Contrast this with construction group Kier Group Plc, which on Monday reminded investors just what financial carnage looks as it unveiled a plan to shrink and cut debt.Government contracting is a potentially attractive business – but when it goes wrong, it can be a disaster. Memories of Carillion Plc’s bankruptcy may still be fresh in investors’ minds. At least Serco shows that these businesses can, eventually, pull through.With the shares at a two-year high, Serco is in the luxurious position of being able to fund deals by selling stock. It has come a long way since 2014’s emergency rights offering. A takeover of Babcock – which has a market value of about 2.5 billion pounds ($3.2 billion) against Serco’s 1.7 billion pounds – would be ambitious and involve issuing stock to Babcock shareholders.The move looks opportunistic: The target’s shares have halved in the last two years, its management is out of favor, and a recent investor day prompted a lukewarm response.The combination would seem to offer more to Serco than to Babcock – unless there were a significant premium to compensate, and the relative size of the businesses would make such a thing hard to engineer.Serco hasn’t been fully rehabilitated; its dividend remains suspended. Babcock, which does pay a dividend, has niche businesses in aerospace and defense with better-than-average margins. Much as its shareholders may admire Soames, a deal would surely dilute the quality of the Babcock business. It’s not hard to see why the target rejected talks following an approach earlier this year.Kier, 10%-owned by beleaguered investor Neil Woodford, is finally doing the same things as Serco did during its crisis – selling assets, changing management and raising equity – albeit in the wrong order. December's 250 million-pound rescue rights offering has already been exhausted and the company is only now just embarking on a radical self-help program. Its market value today is just 178 million pounds.It’s now clear there is much that Kier could have done by way of restructuring before asking shareholders to stump up last year. New CEO Andrew Davies is jettisoning businesses, such is its residential property construction arm, that drain working capital and have few synergies with the core contracting operation, which is focused on infrastructure and highways. The dividend is going altogether, as are 1,200 jobs, largely from corporate center.Kier points to the absence of near-term debt maturities, which should give it some breathing space. But the company appears to be a forced seller and will need to attract competing bids to inject some tension into the sale process.This is an uncomfortable position to be in given the uncertainty around Brexit. The financial strains are now dictating strategy after an aggressive program of expansion by acquisition left the company short of cash.It is possible Kier will pull through, its share price will pick up and that one day Davies, like Soames, will be able to look back and joke about financial carnage. For investors right now, that moment seems an incredibly long way off. As for Serco, its acquisition currency may not yet be tempting enough, and its target’s woes not painful enough, to make a deal with Babcock a reality.To contact the author of this story: Chris Hughes at chughes89@bloomberg.netTo contact the editor responsible for this story: Edward Evans at eevans3@bloomberg.netThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Chris Hughes is a Bloomberg Opinion columnist covering deals. He previously worked for Reuters Breakingviews, as well as the Financial Times and the Independent newspaper.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.

  • Kier shares are tanking. What’s the best move now?
    Fool.co.uk3 days ago

    Kier shares are tanking. What’s the best move now?

    Kier Group plc (LON: KIE) shares fell 36% on Friday and are down 12% today. What's going on?

  • British Builder Kier Group to Cut 1,200 Jobs
    Bloomberg3 days ago

    British Builder Kier Group to Cut 1,200 Jobs

    (Bloomberg) -- Want the lowdown on European markets? In your inbox before the open, every day. Sign up here.Kier Group Plc plans to cut 1,200 jobs, exit businesses and suspend dividends as the British engineering company struggles to rein in debts piled up during a rapid expansion. Chief Executive Officer Andrew Davies is pulling Kier out of homebuilding and property maintenance to focus on construction of other buildings and infrastructure such as roads and railways. The job cuts represent over 13% of the current workforce, according to its most recent annual report. Shares of Kier fell as much as 13% to their lowest since the firm’s 1996 initial public offering after the company issued new debt figures that deepened concerns over its balance sheet. What Bloomberg Intelligence Says “Kier’s higher average month-end net debt of 420-450 million pounds is very disappointing, especially on the heels of previous negative surprises on debt, and demonstrates that the 2018 rights issue failed to stabilize its balance sheet and restore investor trust.” --BI analyst Iwona HovenkoClick here to see the researchDavies, who took over in March, is trying to stop Kier suffering the same fate as industry rivals Carillion Plc and Interserve Plc, which collapsed after taking on projects that offered only thin profit margins and exposed them to heavy liabilities in case of delays or unforeseen problems. On an investor call Monday, he said the group’s debt is too high and it has a number of businesses that are incompatible with its new, simplified strategy. It also plans to exit facilities management and environmental services.“At its core, Kier is a great company,” Davies said. “But we do need to administer self help.”Woodford WoesThe firm’s troubles deal another blow to British stock-picker Neil Woodford, whose fund owns a 9.6% stake in Kier, according to data compiled by Bloomberg. The beleaguered fund manager sold part of his stake in the company earlier this month, as he seeks to provide more liquidity to meet investor redemptions.Kier’s stock has collapsed since a botched rights issue last year and after it was forced to revise its debt figure in March due to an accounting error. Earlier this month the firm issued a profit warning, blaming struggles at its utilities and highways businesses.Shares of Kier had already plunged 87% over the past year before Monday, valuing the company at 212 million pounds ($267 million). Last year’s rights issue, which forced underwriters to buy shares at a loss, raised 264 million pounds for the firm.Speculation about the health of the company’s finances is having an “adverse effect on confidence,” and hurting its capital position, according to a statement Monday from the company, which maintained it has “liquidity headroom” to absorb the volatility.Kier aims to trim 55 million pounds in costs from 2021. Around half of job cuts will come before the end of this month, while the other half will be completed by the end of the calendar year, the company told analysts on the call.\--With assistance from Joe Easton.To contact the reporters on this story: Lucca de Paoli in London at gdepaoli1@bloomberg.net;Andrew Noël in London at anoel@bloomberg.netTo contact the editors responsible for this story: Anthony Palazzo at apalazzo@bloomberg.net, Rebecca Penty, Marthe FourcadeFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Reuters - UK Focus3 days ago

    UPDATE 2-Banks support FTSE 100 even as airlines hit by Lufthansa warning

    London's main index inched up on Monday as rises in banking shares outweighed the impact of a profit alert from Germany's Lufthansa on airlines, while UK contractor Kier Group skidded to an all-time low. Both the FTSE 100 index and the FTSE 250 midcap index ended 0.2% higher.

  • Reuters - UK Focus3 days ago

    UPDATE 3-Kier to sell housing businesses, cut 1,200 jobs and suspend dividend

    Kier Group will sell its housebuilding and property businesses, cut about 1,200 jobs and suspend its dividend for at least two years in a radical overhaul designed to lower debt and stabilise the business. Shares in Kier, which has contracts for London's Crossrail project, fell 13% to a new low of 114 pence after the strategic review was rushed out on Monday by Chief Executive Andrew Davies, who took charge in April. Kier is the latest company to run into trouble in the British outsourcing sector, which provides essential services to central government, local authorities and other public bodies.

  • Kier to sell housing businesses, cut 1,200 jobs and suspend dividend
    Reuters3 days ago

    Kier to sell housing businesses, cut 1,200 jobs and suspend dividend

    Kier Group will sell its housebuilding and property businesses, cut about 1,200 jobs and suspend its dividend for at least two years in a radical overhaul designed to lower debt and stabilise the business. Shares in Kier, which has contracts for London's Crossrail project, fell 13% to a new low of 114 pence after the strategic review was rushed out on Monday by Chief Executive Andrew Davies, who took charge in April. Kier is the latest company to run into trouble in the British outsourcing sector, which provides essential services to central government, local authorities and other public bodies.

  • Reuters - UK Focus3 days ago

    Kier says to cut 1,200 jobs, suspends dividend

  • Reuters - UK Focus6 days ago

    UPDATE 2-Kier sinks after report of discounted sale of housebuilding arm

    Shares in Britain's Kier fell more than 35% on Friday to a record low after the Times newspaper reported the construction and services group was rushing to sell its housebuilding business at a discount to cut mounting debt. The report was the latest setback for the group, which has contracts for major projects including London's Crossrail link, following a profit warning last week. The shares fell as much as 36.3% to 129 pence by 1415 GMT, the lowest since it listed in 1996, erasing all of the 24% gains made since Kier's profit warning on June 3.

  • Reuters - UK Focus6 days ago

    Kier shares drop 13% after report on homebuilding sale

    Shares in troubled Kier dropped 13% on Friday after a media report that the construction and services group was looking to sell its housebuilding unit as part of a review to cut debt and simplify its structure. Kier issued a profit warning last week which sent shares down 40% to their lowest in two decades as investors speculated it may cut dividend payouts and again seek to raise more funds after a failed share issue last year. The Times reported http://bit.ly/2XHb7Ap on Friday that Kier had sounded out advisers on the possibility of selling the housing division at a value of between 100 million and 150 million pounds.

  • Reuters - UK Focus6 days ago

    UPDATE 2-FTSE 100 dips as global growth concerns dominate; Kier hits record low

    London's FTSE 100 weakened on Friday as Asia-focused banks took a hit from underwhelming Chinese industrial growth data, while Kier shed more than a third of its value after it was reported to be planning to sell its housebuilding unit at a discount. The FTSE 100 slipped by 0.3%, with exporter stocks also weighing on the index. The FTSE 250 fell by the same amount, tugged lower by Kier's 35.5% plunge.

  • Woodford Rejects Calls for Freezing Fees at Suspended Fund
    Bloomberg9 days ago

    Woodford Rejects Calls for Freezing Fees at Suspended Fund

    Neil Woodford rebuffed the City of London’s top regulator, saying he’d keep charging fees to investors even while he forbids them from exiting his flagship fund. “The company will continue to charge the fee as the fund remains actively managed and we focus on repositioning the portfolio,” a Woodford spokesman said in response to Bailey’s comments on Tuesday. Andrew Bailey, chief executive officer of the Financial Conduct Authority, earlier told the BBC Radio Four’s Today program that Woodford “should consider his position” on fees during the halt in redemptions from the LF Woodford Equity Income Fund.

  • Reuters - UK Focus10 days ago

    EXPLAINER-How the door slammed shut at British money manager Woodford's fund

    British money manager Neil Woodford has barred investors from taking cash out of his flagship fund, sparking client anger and spurring the Financial Conduct Authority (FCA) to examine what is a highly unusual move for a UK retail-focused equity fund. Since Woodford's 3.7 billion pound ($4.7 billion) LF Woodford Equity Income Fund suspended withdrawals on June 3, the share price of his listed fund has dropped, along with the value of shares of many of his biggest fund holdings. Woodford has posted a Q&A on his website detailing the process, explained his reasoning in a video and has pledged to reopen as soon as possible.

  • Is Kier’s share price a risk worth taking?
    Fool.co.uk12 days ago

    Is Kier’s share price a risk worth taking?

    Many investors draw parallels between Kier Group plc (LON:KIE) and its ex-rival Carillion, but is this a fair comparison?

  • Reuters - UK Focus13 days ago

    Under fire fund manager Woodford in scramble to sell stakes

    British money manager Neil Woodford cut his stakes in at least 21 companies this week as he frees up cash to meet a rush of redemption requests that forced him to suspend his flagship fund. Woodford, one of Britain's best known investors, froze his Equity Income Fund on Monday as too many people were asking for their money back after a number of his top investments turned sour. Filings from the London Stock Exchange - more than 80% of his holdings are UK-based - found 21 sales by Woodford of companies in which he is a major investor.

  • Reuters - UK Focus13 days ago

    UPDATE 2-FTSE 100 marks best week in 4 months; buyout offer lifts Millennium & Copthorne

    Expectations of an interest rate cut after disappointing U.S. jobs data fuelled a rally in UK shares, helping London's FTSE 100 rise for the fifth straight session on Friday, while Millennium & Copthorne Hotels gained one-third in value after a takeover bid. The FTSE 100 index rose 1% and the FTSE 250 midcap index advanced 0.9%, with gains across all sectors.

  • This is what I’d do with the Kier Group share price right now
    Fool.co.uk13 days ago

    This is what I’d do with the Kier Group share price right now

    Has this Kier Group plc (LON: KIE) bear turned bull? Read on to find out.

  • Is Kier Group plc (LON:KIE) A Volatile Stock?
    Simply Wall St.13 days ago

    Is Kier Group plc (LON:KIE) A Volatile Stock?

    If you're interested in Kier Group plc (LON:KIE), then you might want to consider its beta (a measure of share price...

  • Investors are taking a gamble on the Kier share price: here’s what I’d do
    Fool.co.uk14 days ago

    Investors are taking a gamble on the Kier share price: here’s what I’d do

    Battered construction firm Kier Group plc (LON: KIE) looks riskier than ever, says Roland Head.

  • Reuters - UK Focus16 days ago

    UPDATE 1-British money manager Woodford's star wanes over locked fund gate

    Famed for eschewing the tech bubble and sticking with tobacco and pharmaceuticals as others sold out, Neil Woodford's cult status among British money managers is on the ropes after some of his investors were unable to recoup their money. When Woodford struck out on his own from Invesco and launched Woodford Investment Management, billions of pounds flowed into his funds, which often bucked conventional market wisdom and included riskier, less liquid investments.

  • Reuters - UK Focus16 days ago

    UK might switch infrastructure focus away from high-speed rail - minister

    Britain's next prime minister might decide to prioritise other infrastructure spending projects over the planned, 56 billion-pound ($71 billion) High-Speed 2 (HS2) rail project, a government minister said on Tuesday. Liz Truss, chief secretary to the Treasury, told lawmakers that investing more money in fibre optic cable or in other transport projects were possible alternatives to HS2. Any decision to proceed with or drop HS2 would have to be taken by the end of this year, she said.

  • Kier shares plummet, so is it time to buy?
    Fool.co.uk16 days ago

    Kier shares plummet, so is it time to buy?

    Can Kier Group plc (LON: KIE) ever bounce back after its profit warning and would I jump in while the shares are cheap?

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