RR.L - Rolls-Royce Holdings plc
| Previous close | 292.50 |
| Open | 294.30 |
| Bid | 268.10 x 0 |
| Ask | 268.20 x 0 |
| Day's range | 258.50 - 297.50 |
| 52-week range | 235.50 - 899.60 |
| Volume | 17,370,990 |
| Avg. volume | 17,515,606 |
| Market cap | 5.082B |
| Beta (5Y monthly) | 0.93 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -69.10 |
| Earnings date | 27 Aug 2020 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | 23 Apr 2020 |
| 1y target est | 974.81 |
- Bloomberg
Rolls-Royce Explores Fundraising Options Amid Downturn
(Bloomberg) -- Rolls-Royce Holdings Plc, the British jet-engine maker, is exploring options to raise funds that would help fortify the company against a downturn in the aerospace industry.The London-based company is in the early stages of reviewing a range of options to strengthen its balance sheet, it said in a statement Friday, confirming a Bloomberg News report.“No decisions have been made,” Rolls-Royce said. “Our current financial position and liquidity remain strong.”Rolls-Royce is examining possibilities including selling shares and divesting assets, people familiar with the matter said, asking not to be identified because the information is private. Its ITP Aero unit is one potential disposal being studied, the people said.The company could seek about 1.5 billion pounds ($1.9 billion) to 2 billion pounds if it decides to proceed with an equity offering, the people said. It hasn’t discussed precise figures and details could change, they said.The U.K. company makes engines for wide-body aircraft, leaving it particularly exposed to fallout from the coronavirus pandemic that’s roiled global travel. While Rolls-Royce has no immediate liquidity issue, the long-haul aircraft market it serves isn’t expected to rebound until at least 2023, according to the International Air Transport Association.Job CutsShares of Rolls-Royce extended losses after the Bloomberg report, falling as much as 12%. They were down 10% as of 4:26 p.m. Friday in London, bringing the year’s drop to more than 60% and reducing the manufacturer’s market value to around 5.1 billion pounds.About half of Rolls-Royce’s revenue comes from its civil aerospace business, according to data compiled by Bloomberg. The grim outlook for industry led S&P Global Ratings to downgrade Rolls-Royce’s credit rating to junk at the end of May, a move which can raise a company’s borrowing costs and lock out certain lenders.The company had 7.4 billion pounds of available liquidity as of June, including 300 million pounds from the U.K.’s Covid Corporate Financing Facility and a 1.9 billion-pound revolving credit facility.Still, its cash receipts for the first half are likely to be significantly lower than normal, as the engine flying hours that traditionally bring in maintenance revenue dropped because of the pandemic.Covid FinancingsRolls-Royce would join discount carrier EasyJet Plc, publisher Informa Plc and online grocer Ocado Group Plc in seeking to sell new stock during the crisis. London-listed companies have raised $18.1 billion in follow-on equity offerings this year, according to data compiled by Bloomberg.Companies are also ripping out costs to cut cash outflows. Rolls-Royce said last month it planned to eliminate 3,000 jobs in the U.K. this year, the first wave of cuts that could ultimately see the company emerge from the downturn a much smaller business.They’re part of the 9,000 global reductions the company announced in May, when it became clear how the Covid-19 crisis is undermining demand for new aircraft.In all, European aerospace manufacturers have set plans to eliminate some 33,000 jobs since the pandemic hit, based on a Bloomberg tally.Manufacturing HealthU.K. manufacturers have raised the alarm about the health of industry. The Make UK trade body warned on Friday that more permanent jobs are at risk after a furlough plan ends in October. JPMorgan Chase & Co. said in May that Rolls-Royce would need to “significantly reinforce” its balance sheet in the coming months. The company is likely to take action after announcing its first-half results and could consider options including material disposals or equity issuance, analysts led by David Perry wrote in a May 18 research report.(Updates with manufacturing group warning in second-to-last paragraph; updates shares. An earlier version of this story corrected the amount of the 1.9 billion-pound credit line)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.
- Stockopedia
Analysts upbeat on the outlook for Rolls-royce Holdings
The Rolls-royce Holdings (LON:RR.) share price has risen by 6.99% over the past month and it’s currently trading at 298.1. For investors considering whether to...
- Yahoo Finance UK
Coronavirus: EasyJet raises £419m in battle to survive crisis
The budget airline has already announced around 4,500 job cuts, but resumed flights in mid-June.
- Yahoo Finance UK
Coronavirus: Airport luggage firm Swissport slashes 4,500 jobs in UK
Baggage handler Swissport had warned the government's 14-day travel quarantine and reduced furlough grants would lead to job cuts.
- Yahoo Finance UK
Coronavirus: Scotland to launch working group to save jobs at Rolls-Royce plant
The aerospace giant, hit hard by the COVID-19 outbreak earlier said 700 jobs at its Scottish plant were at risk.
- Stockopedia
Upbeat broker recommendations for Rolls-royce Holdings
The Rolls-royce Holdings (LON:RR.) share price has risen by 21.2% over the past month and it’s currently trading at 392. For investors considering whether to b...
- Fool.co.uk
Is the Rolls-Royce share price too cheap to ignore?
The Rolls-Royce share price has plunged in 2020. But the company is still a world-leading engineering group, which should help its recovery. The post Is the Rolls-Royce share price too cheap to ignore? appeared first on The Motley Fool UK.
- Yahoo Finance UK
Coronavirus: Rolls-Royce job cuts a 'body blow' to town where turbojets born
Exclusive: Yahoo Finance UK spoke to Rolls-Royce workers in a Lancashire town where a third of staff face redundancy.
- Fool.co.uk
The Rolls-Royce share price has fallen below 300p. Here’s what I’d do now
Rolls-Royce shares have plunged dramatically. Are they a bargain or a value trap? Anna Sokolidou tries to find out.The post The Rolls-Royce share price has fallen below 300p. Here’s what I’d do now appeared first on The Motley Fool UK.
- Fool.co.uk
FTSE 100 stock in focus: is the Rolls-Royce share price a good buy?
The Rolls-Royce share price has been fluctuating as the FTSE 100 (INDEXFTSE:UKX) enjoys a lockdown-easing boost. Is the aerospace engine maker a buy? The post FTSE 100 stock in focus: is the Rolls-Royce share price a good buy? appeared first on The Motley Fool UK.
- Yahoo Finance UK
Coronavirus: Rolls-Royce’s credit rating graded as 'junk' for first time in 20 years
Rolls-Royce lost its investment-grade rating after 20 years, as demand drops during coronavirus pandemic.
- Yahoo Finance UK
FTSE 100 falls 2.5% on US-China tensions and industrial woes
US President Donald Trump will hold a press conference on China later today, with fears he will declare Hong Kong no longer legally independent from China.
- Yahoo Finance UK
Coronavirus: Rolls-Royce demands supplier price cuts up to 15%
Rolls-Royce wrote to some of its 700 suppliers asking for price cuts, just days before axing 9,000 jobs.
- Investing.com
COVID-19: Live Updates for Monday, May 25
Rolling updates on the latest developments and headlines from around the world on the COVID-19 pandemic.
- Yahoo Finance UK
What to watch: Experian tops the FTSE, M&S profit falls, and inflations crashes
A daily overview of the top business, market, and economic stories to watch in the UK, Europe, and abroad.
- Yahoo Finance UK
Coronavirus: Rolls-Royce to cut at least 9,000 jobs
The cuts are forecasted to save the company £700m, helping it towards its overall aim to save £1.3bn annually.
- Investing.com
Morgan Stanley Sticks to Their Hold Rating for Rolls-Royce Holdings plc
Morgan Stanley (NYSE:MS) analyst Andrew Humphrey maintained a Hold rating on Rolls-Royce (OTC:RYCEY) Holdings plc on Sunday, setting a price target of £4.6, which is approximately 24.32% above the present share price of $3.7.
- Reuters - UK Focus
Former Garuda Indonesia CEO jailed for eight years for bribery
An Indonesian court on Friday jailed Emirsyah Satar, a former chief executive of Garuda Indonesia, for bribery and money laundering related to procurement of planes and engines from Airbus and Rolls-Royce, his laywer said. Satar's lawyer Luhut Pangaribuan said his client had been given an eight-year sentence and fined S$2 million ($1.4 million) by the country's corruption court. Indonesia’s Corruption Eradication Commission (KPK) had indicted Satar, CEO of Garuda from 2005 to 2014, over payments from a businessman via a third party for the procurement by Garuda Indonesia of Roll-Royce Trent 700 engines and Airbus A320 and A330 planes.
- Yahoo Finance UK
Coronavirus: Rolls-Royce furloughs 4,000 staff as job cuts loom
Company is reportedly planning to cut up to 8,000 jobs as demand for its airplane engines collapses.
- Reuters
Rolls-Royce signals job cuts as lowers engine output forecast
A source close to Rolls-Royce, one Britain's best known industrial names and one of the world's main producers of jet engines for airliners, told Reuters last week that it was looking at cutting up to 15% of its 52,000 strong workforce. "We have promised to give our people further details of the impact of the current situation on the size of our workforce before the end of this month and will consult with affected employees in due course," Rolls-Royce said. Shares in Rolls-Royce, which said in a statement it had furloughed 4,000 staff in Britain, were down as much as 3.6% at 283 pence in early trading.
- Reuters - UK Focus
UK will only consider support for individual aero firms as a last resort - minister
British aerospace and aviation firms must look at existing government schemes and self-help measures before individual packages for companies are considered, housing minister Robert Jenrick said on Wednesday. "We've said before that we're willing to consider situations where we would support individual firms, but obviously only when they've worked through the existing government schemes and other ways in which they might be able to raise finance commercially, or through existing shareholders."
- Reuters - UK Focus
LIVE MARKETS-Cars ratings improving, but shares down
You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. "While the ramp-up of vehicle production in Europe will be gradual, it is credit positive for automakers and an important first step in the sector's eventual recovery," Moody's says. The coronavirus-induced shutdown meant European companies missed to produce about 2.2 million cars, according to the European Automobile Manufacturers Association.
- Yahoo Finance UK
Coronavirus: Firms warned on 'knee-jerk' lay-offs as Rolls-Royce job fears grow
The Unite union urged firms including Rolls-Royce to 'hold firm' by keeping on staff despite the coronavirus crisis crippling manufacturers.
- Reuters - UK Focus
LIVE MARKETS-Opening Snapshot: Pressure on Thyssenkrupp and Rolls Royce
You can share your thoughts with Thyagaraju Adinarayan (thyagaraju.adinarayan@thomsonreuters.com), Joice Alves (joice.alves@thomsonreuters.com) and Julien Ponthus (julien.ponthus@thomsonreuters.com) in London and Stefano Rebaudo (stefano.rebaudo@thomsonreuters.com) in Milan. European bourses match falls in Asia after a long weekend, as a new U.S.-China spat worries that the economy could come under renewed pressure for possible trade-war hostilities. Sentiment soured again after hoping for a relief due to easing of coronavirus outbreak induced lockdowns.
