文章核心观点 - 英美烟草公司(British American Tobacco)最近回购了15万股股票,平均价格约为32美元[1] - 公司回购股票是为了向市场或股东传递信号,可以提高每股收益(EPS)[2] - 英美烟草股价近10年下跌近50%,远低于标普500指数的涨幅[4] - 英美烟草的业绩表现不佳主要是由于其股价估值过高,需要经历多年的调整[6][7][9] 行业和公司总结 行业概况 - 吸烟率长期下降,英美烟草2017年销量为7560亿支,2023年下降至5550亿支,未来仍将继续下降[7] - 为应对销量下降,公司提高价格并销售新型烟草产品如口嚼烟和电子烟,但难以被视为高成长业务[8] 公司表现 - 英美烟草股价从2018年初的24倍市盈率大幅下跌,目前仅为6-7倍[9][10] - 公司目前股息率高达9.6%,且派息率仅50%,股息支付有保障[11] - 未来公司预计每年收益增长4%,加上高股息,总回报率可达13-14%,有望超越大盘[10][12] - 公司计划通过2025年底回购股票来减少股本[5]

The stocks of iconic brands are en masse. However, the informational asymmetry linked to the financial markets means that few are undervalued. Considering the above, I embarked on a quest to find three undervalued stocks from iconic brands with high dividend yields. Stocks with low price-to-earnings ratios and high dividend yields often trigger value traps. As such, I ensured a robust screening methodology was applied. Methodologically, my screening process emphasized fundamental attributes, valuation multi ...

文章核心观点 - 英美烟草公司(British American Tobacco)正试图通过提高价格来抵消香烟销量下降的趋势,同时也在努力发展电子烟等新业务来替代传统香烟业务[2][3][6][7] - 但是公司的香烟业务仍然占据主导地位,新业务发展进度缓慢,存在较大风险[8][9] - 如果公司不能及时转型成功,未来前景将非常严峻,高额股息也难以维持[9][11] 公司概况 - 英美烟草公司是一家大型烟草公司,主要业务为生产和销售香烟等传统烟草产品[2][3] - 公司正试图通过提高价格来抵消香烟销量下降的趋势[6] - 公司正在发展电子烟、烟草薄片等新型烟草产品,但这些新业务目前仅占总收入的12%左右[8] 行业趋势 - 长期来看,吸烟人群呈下降趋势,这导致英美烟草公司的香烟销量在2018-2023年间下降了21%[4][5] - 如果未来5年内销量再下降20%,公司的香烟产量将从2018年的700亿支降至445亿支,这意味着公司的现金奶牛业务正在逐步衰落[5] 公司转型进度 - 公司正在努力发展电子烟、烟草薄片等新型烟草产品,试图减少对传统香烟业务的依赖[8] - 但新业务发展进度较慢,仍然无法取代公司主要利润来源的香烟业务[8][9] - 如果公司不能及时完成业务转型,未来前景将非常严峻,高额股息也难以维持[9][11]

MicroStockHub The current interest rate environment has imposed a downward pressure on asset valuations across the board. This is a quite mathematical consequence, where higher risk-free rate increases the discount rate, which, in turn, decreases the result that stems from discounted future cash flows. This dynamic has strongly played out for duration heavy asset classes such as fixed income, real estate and equities that exhibit relatively fixed income streams (e.g., that are backed by long contracts that ...

Loading... Loading... British American Tobacco PLC BTI stock is turning heads on Wall Street with a classic bullish signal approaching: the Golden Cross. This technical pattern, where the 50-day simple moving average (SMA) rockets past the 200-day SMA, often heralds a strong upward trend. But that’s just the beginning of the company’s bullish bonanza. ...

With Phillip Morris International unable to meet consumer demand for its nicotine pouches, expect British American Tobacco's rival product to gain market share. There have been news reports in recent weeks about a Zyn shortage across the United States. Phillip Morris International has been unable to keep up with demand for the popular nicotine pouches as consumers increasingly look for alternatives to smoking cigarettes. The Zyn brand holds a dominant position in the nascent nicotine pouch category, with an ...

marchmeena29 Early this year I issued an article on British American Tobacco (NYSE:BTI) arguing that the multiple is so low that it provides an inherent safety in terms of keeping the downside risk limited. Plus, the argument was that so depressed multiple warrants a very enticing entry point for investors to capture high yielding dividend streams. In addition, looking at the underlying business profile it was clear that the business is at a much safer position than what could be implied by the multiple (i. ...

High-yield dividend stocks always present a difficult framework for investors. Here’s the reality. If you’re simply looking for robust passive income, you could filter your security screeners to uncover the greatest yields. Then, you could call it a day. However, deep down, you know it’s not that easy. Nothing of worth usually is – otherwise, everyone would do it. Yes, high-yield dividend stocks are plentiful. But if you only focus on the yield and not on other metrics such as sustainability, you could end ...

MiMaLeFi/iStock via Getty Images When I last covered British American Tobacco (NYSE:BTI) the major tobacco player had just recently announced a substantial write-down in some of its businesses leading to a fairly steep decline in the share price. Since then, the share price has only improved marginally and remains quite low as concerns remain over the future of tobacco and the persistent decline in volumes in its traditional cigarette business. However, BTI has continued to see strong growth in its new gene ...

There is a changing regulatory landscape for the burgeoning U.S. nicotine market. New nicotine products have taken the United States by storm in the last decade. These include e-vapor devices (vapes) and nicotine pouches. Traditional tobacco companies have invested and acquired start-ups in the space with mixed success. In recent years, the vaping sector has been disrupted by disposable devices, mainly from foreign countries. Even though these products are not approved by the U.S. government and are technic ...