NEX.L - National Express Group PLC

LSE - LSE Delayed price. Currency in GBp
454.40
+5.20 (+1.16%)
At close: 4:35PM GMT
Stock chart is not supported by your current browser
Previous close449.20
Open451.00
Bid454.20 x 0
Ask454.40 x 0
Day's range449.80 - 455.00
52-week range356.00 - 464.00
Volume551,542
Avg. volume597,821
Market cap2.325B
Beta (3Y monthly)0.53
PE ratio (TTM)16.52
EPS (TTM)N/A
Earnings dateN/A
Forward dividend & yield0.15 (3.41%)
Ex-dividend date2019-08-29
1y target estN/A
  • Who Has Been Buying National Express Group PLC (LON:NEX) Shares?
    Simply Wall St.

    Who Has Been Buying National Express Group PLC (LON:NEX) Shares?

    We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly. The...

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  • Does National Express Group's (LON:NEX) Share Price Gain of 93% Match Its Business Performance?
    Simply Wall St.

    Does National Express Group's (LON:NEX) Share Price Gain of 93% Match Its Business Performance?

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  • Bloomberg

    Libor Refuses to Die

    (Bloomberg Opinion) -- An advertisement showing in U.K. cinemas currently shows a boy hesitating to kiss a female zombie. “But I’m kinda hot,” she says, popping chewing gum into her mouth before they lock lips — and her arm drops off. The finance community has a similarly conflicted relationship with Libor, the reference interest rates for everything from mortgages to car loans to corporate debt. This makes it likely that the benchmarks will survive beyond their planned termination date.The current plan is for Libor to wink out of existence by the end of 2021. Changes in the wholesale funding market mean it’s no longer based on actual transactions between banks. The Financial Conduct Authority is adamant that the U.K. finance industry should shift to using the Sterling Overnight Interbank Average rate (known as Sonia). In other jurisdictions, including the U.S. and the euro area, regulators are implementing replacements.But with a bit more than two years to go, a combination of complacency, complexity and inertia is keeping Libor very much alive.The Bank of England’s “Bank Overground” blog pointed out recently that the value of sterling swap contracts referencing Libor is increasing rather than decreasing, according to data compiled by LCH Ltd., the derivatives clearing house.The value of contracts that extend beyond Libor’s mooted end date has increased since April 2018, and stands currently at more than 10 trillion pounds ($12 trillion), as the chart above shows. Even by 2026, more than 5 trillion pounds of Libor swaps will still be outstanding. “Use of Libor remains widespread, and this poses risks to market stability,” the Bank of England blog says.There has been some progress in moving financial products to the regulators’ recommended replacement. Earlier this month, Royal Bank of Scotland Group Plc’s NatWest unit switched the reference rate on an existing loan to South West Water to Sonia. In July, the same bank made the first new loan based on Sonia, to National Express Group Plc.Of course, some of the warnings about the need to accelerate away from Libor are self-serving. Consultants and lawyers will make money from offering expensive advice on the transition; it’s in their interests to emphasize the dangers.But the sheer volume of outstanding notes around the world still tied to Libor and expiring after 2021 — as much as $864 billion, the International Capital Markets Association estimated earlier this year — leaves many financiers skeptical that the regulators will carry out their threat to kill off the benchmarks as planned.A survey published last month by consulting company Accenture Plc showed 23% of respondents expect Libor to survive past its current death date. The poll of 177 global banks, asset managers and companies showed just 18% of the respondents described their shift away from the benchmarks as “mature,” with only one-fifth saying they were “operationally ready.”Regulators face a tough choice. If Libor wins a stay of execution, there will be even less pressure to switch away from the old reference rates. But if they stick to their guns, billions of dollars and euros and pounds of contracts will come untethered as the interest rates on which their payments are based disappear.That risk is too big to ignore. Sure, Libor is flawed and outdated and probably beyond redemption. But with less than 27 months to go, the finance industry needs more time to come to terms with its demise. Let Libor live on. Sometimes even a zombie can be hard to resist.To contact the author of this story: Mark Gilbert at magilbert@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.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.

  • Forget Bitcoin! These dividend growth stocks could surge in October
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    Forget Bitcoin! These dividend growth stocks could surge in October

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  • Will the National Express (LON:NEX) share price keep rising?
    Stockopedia

    Will the National Express (LON:NEX) share price keep rising?

    Shares in National Express (LON:NEX) have been in an uptrend in recent months, and the question now for investors is whether that price strength will continue.8230;

  • A Closer Look At National Express Group PLC's (LON:NEX) Uninspiring ROE
    Simply Wall St.

    A Closer Look At National Express Group PLC's (LON:NEX) Uninspiring ROE

    While some investors are already well versed in financial metrics (hat tip), this article is for those who would like...

  • The National Express share price amp;ndash; where next?
    Stockopedia

    The National Express share price amp;ndash; where next?

    The National Express (LON:NEX) share price has risen by 3.04% over the past month and it’s currently trading at 430.6p. For investors considering whether to bu8230;

  • 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...

  • 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

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  • Reuters - UK Focus

    Long wait expected for syndicated Sonia loans

    Syndicated loans based on the sterling overnight index average (Sonia) may not be seen for at least a year, as banks and borrowers scramble to put expensive new technology and systems in place that can cope with backward-looking compounded rates. The loan market must transition away from products that use Libor towards risk free rates (RFRs) by the end of 2021, in one of the most significant changes ever to the contracts that underpin lending. Progress in the syndicated loan market on a Libor replacement has been slow to date as the market has been waiting for forward-looking rates to be created that would mimic Libor and allow them to predict their borrowing costs with few changes to existing systems.

  • 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...

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

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

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