BAE Systems PLC

BAE Systems is a defense, aerospace and security solutions provider. Co. supplies defense equipment, electronics and services, and cyber, intelligence and security solutions for governments and commercial markets. Co.'s offerings include the: manufacture of Typhoon assemblies for European partner nations and other export customers; design and manufacture of sub-assemblies in the U.K. and provision of equipment in the U.S.; development of future air system capabilities, including unmanned air systems; maintenance, support and training for Typhoon aircraft in service with the U.K. and Saudi Arabian air forces; and design, manufacture and support of defense and commercial avionics equipment.
  • TickerBA.
  • ISINGB0002634946
  • ExchangeLondon Stock Exchange
  • SectorAerospace & Defense
  • CountryUnited Kingdom

Analysts

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/03/2020

Our new production scenario (-12%, of which -32% of H1) prompts us to a further marked downward revision to our estimates (~-60% since January, -40% vs 2020 consensus estimates). Whilst valuations might now suggest that a large portion is already factored in, despite the recent rebound, visibility remains too low for us to be more constructive and we maintain our strict stock picking strategy. Michelin, Volkswagen, Peugeot and Plastic Omnium remain our preferred stocks whilst we are s...

Antoine Boivin-Champeaux ...
  • Yan Derocles

BAE Systems : Dividend payment postponed but situation under control

>Postponement of final dividend payment of 13.8p - In a trading statement, the company has just provided some new information: The payment of the dividend of 13.8p per share announced at the publication of the results has been postponed. BAE Systems indicated that it is still intending to pay a dividend and that it would provide an update on 30 July to factor in the duration and magnitude of the crisis. In Q1, the pandemic’s consequences were negligible, wit...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/04/2020

Notre nouveau scénario de production (-12% dont -32% au S1) nous conduit à réduire encore fortement nos estimations (~-60% depuis janvier) qui se situent ~40% sous le consensus (2020). Si les valorisations peuvent désormais laisser espérer qu’une partie est déjà intégrée malgré le rebond récent, la visibilité manque encore pour devenir plus constructif et nous maintenons notre stratégie de stock picking. Michelin, VW, Peugeot et Plastic Omnium restent nos valeurs préférées alors que n...

Antoine Boivin-Champeaux ...
  • Yan Derocles

BAE Systems : Paiement du dividende repoussé mais une situation maitrisée

>Report du paiement du dividende final de 13.8p - Dans un trading statement, la société vient juste d’apporter quelques éléments : le paiement du dividende de 13.8p par titre annoncé lors de la publication des résultats est reporté. BAE Systems indique avoir toujours l’intention de verser un dividende et qu’un update aura lieu le 30 juillet pour prendre en compte la durée et l’ampleur de la crise ; sur le T1, les conséquences de la pandémie ont été négligeab...

Alain William ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Emira Sagaama
  • Fatma Ayachi
  • Jean-François Granjon
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas Thorez
  • Olfa Taamallah
  • Oussema Denguir
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 04/01/2020

We simulated the impact of COVID-19 on companies in our universe of coverage from an operating viewpoint. Setting target prices is a risky business amid uncertainty and very rapid movements in the financial markets, reacting more to political/sanitary news flow than to corporate disclosures. However, we tried to include the increase in the perceived risk premium and the change in aggregates in our valuations. As the current crisis is set to have radically different impacts on the twen...

Valérie GASTALDY

Short term view - BAE SYSTEMS : The movement goes on.

The background trend is clearly bearish. The movement goes on. The next target is at 494.75 p, then 471.71 p. Passing 546.40 p would question the continuation of the fall.

Valérie GASTALDY

Analyse court terme - BAE SYSTEMS : Le mouvement se poursuit.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 494,75 p, puis 471,71 p. Le franchissement de 546,40 p remettrait en cause la suite de la baisse.

Valérie GASTALDY

Analyse court terme - BAE SYSTEMS : La tendance de fond est clairement orientée à la baisse.

La tendance de fond est clairement orientée à la baisse. Le mouvement se poursuit. Le prochain objectif est à 494,75 p, puis 471,71 p. Le franchissement de 546,40 p remettrait en cause la suite de la baisse.

Valérie GASTALDY

Short term view - BAE SYSTEMS : The background trend is clearly bearish.

The background trend is clearly bearish. The movement goes on. The next target is at 494.75 p, then 471.71 p. Passing 546.40 p would question the continuation of the fall.

Valérie GASTALDY

Analyse moyen terme - BAE SYSTEMS : Les cours baissent.

La tendance est incertaine. Les cours baissent, et il y a une possibilité d'accélération baissière. Une nouvelle tendance baissière tente de démarrer.

1 director sold

A director at BAE Systems sold 125,000 shares at 573p and the significance rating of the trade was 83/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board member...

Antoine Boivin-Champeaux ...
  • Yan Derocles

BAE Systems : Dividend payment postponed but situation under control

>Postponement of final dividend payment of 13.8p - In a trading statement, the company has just provided some new information: The payment of the dividend of 13.8p per share announced at the publication of the results has been postponed. BAE Systems indicated that it is still intending to pay a dividend and that it would provide an update on 30 July to factor in the duration and magnitude of the crisis. In Q1, the pandemic’s consequences were negligible, wit...

Antoine Boivin-Champeaux ...
  • Yan Derocles

BAE Systems : Paiement du dividende repoussé mais une situation maitrisée

>Report du paiement du dividende final de 13.8p - Dans un trading statement, la société vient juste d’apporter quelques éléments : le paiement du dividende de 13.8p par titre annoncé lors de la publication des résultats est reporté. BAE Systems indique avoir toujours l’intention de verser un dividende et qu’un update aura lieu le 30 juillet pour prendre en compte la durée et l’ampleur de la crise ; sur le T1, les conséquences de la pandémie ont été négligeab...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

ODDO : Pushing back of the timing for an upturn in traffic – what impact for our coverage?

>Our scenario for an upturn in traffic in June-July is still plausible… - Our scenario of a 23% decline in global air traffic in 2020 is based on an upturn in volumes as of June-July. In order to respect this inflection point, two questions must be addressed i.e.: 1/ the duration of confinement and 2/ the exit scenario pending market approval for a vaccine becoming commercially available, the only solution to stemming the spread of the coronavirus epidemic (12-24 mont...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

ODDO : Décalage du timing de redressement du trafic – Quel impact pour notre couverture?

>Notre scenario de redressement du trafic en juin-juillet est toujours crédible… - Notre scénario de recul du trafic aérien mondial de 23% en 2020 se base sur un redressement notable des volumes à partir de juin-juillet. Afin de respecter ce point d’inflexion, il est cependant nécessaire d’adresser deux questions à savoir : 1/ la durée du confinement et 2/ le scénario de sortie en attendant la mise sur le marché de vaccins, seuls capables d’endiguer la propagation de ...

Fatma Ayachi ...
  • Olfa Taamallah
  • Yan Derocles

ODDO : COVID-19: our travel guide through the current clouds

Air transport and the civil aerospace sector are bearing the full brunt of the COVID-19 crisis and we believe that current prices offer unprecedented opportunities on solid players. We prefer IAG and Ryanair, and also Airbus, which we upgrade to Buy. For its part, the defence sector looks relatively immune. - >Our scenario points to a fall in global air traffic of 23% in 2020 and a partial catch-up in 2021 at +15% - In just a few days, the outlook for air transport ha...

BAE Systems plc: Update to Key Rating Factors After Affirmation of BAE's Baa2 Rating

CORPORATES CREDIT OPINION 2 May 2017 Update RATINGS BAE SYSTEMS plc Domicile United Kingdom Long Term Rating Baa2 Type LT Issuer Rating Outlook Stable Please see the ratings section at the end of this report for more information. The ratings and outlook shown reflect information as of the publication date. Contacts Jeanine Arnold 49-69-70730-789 VP-Senior Analyst [email protected] Matthias

BAE SYSTEMS plc - December 2016 (LTM): Peer Snapshot

Peer Snapshot: BAE SYSTEMS plc - December 2016 (LTM) 5 April 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/03/2020

Our new production scenario (-12%, of which -32% of H1) prompts us to a further marked downward revision to our estimates (~-60% since January, -40% vs 2020 consensus estimates). Whilst valuations might now suggest that a large portion is already factored in, despite the recent rebound, visibility remains too low for us to be more constructive and we maintain our strict stock picking strategy. Michelin, Volkswagen, Peugeot and Plastic Omnium remain our preferred stocks whilst we are s...

Ahmed Ben Salem ...
  • Antoine Boivin-Champeaux
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Johanna Jourdain
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 03/04/2020

Notre nouveau scénario de production (-12% dont -32% au S1) nous conduit à réduire encore fortement nos estimations (~-60% depuis janvier) qui se situent ~40% sous le consensus (2020). Si les valorisations peuvent désormais laisser espérer qu’une partie est déjà intégrée malgré le rebond récent, la visibilité manque encore pour devenir plus constructif et nous maintenons notre stratégie de stock picking. Michelin, VW, Peugeot et Plastic Omnium restent nos valeurs préférées alors que n...

Alain William ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Emira Sagaama
  • Fatma Ayachi
  • Jean-François Granjon
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas Thorez
  • Olfa Taamallah
  • Oussema Denguir
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 04/01/2020

We simulated the impact of COVID-19 on companies in our universe of coverage from an operating viewpoint. Setting target prices is a risky business amid uncertainty and very rapid movements in the financial markets, reacting more to political/sanitary news flow than to corporate disclosures. However, we tried to include the increase in the perceived risk premium and the change in aggregates in our valuations. As the current crisis is set to have radically different impacts on the twen...

Alain William ...
  • Alexandre Iatrides
  • Benoit Valleaux
  • Emira Sagaama
  • Fatma Ayachi
  • Florent Laroche-Joubert
  • Jerôme Bodin
  • Olfa Taamallah
  • Roland Pfaender,MBA,CFA,CCRA
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/01/2020

We simulated the impact of COVID-19 on companies in our universe of coverage from an operating viewpoint. Setting target prices is a risky business amid uncertainty and very rapid movements in the financial markets, reacting more to political/sanitary news flow than to corporate disclosures. However, we tried to include the increase in the perceived risk premium and the change in aggregates in our valuations. As the current crisis is set to have radically different impacts on the twen...

Alain William ...
  • Aurelien Sivignon
  • Baptiste Lebacq
  • Emira Sagaama
  • Fatma Ayachi
  • Jean-François Granjon
  • Jeremy Garnier
  • Martial Descoutures
  • Nicolas Thorez
  • Olfa Taamallah
  • Oussema Denguir
  • Yan Derocles

ODDO BHF Small & MIDCAP MORNING NEWS - 01/04/2020

Nous avons simulé l’impact du COVID-19 sur les sociétés de notre coverage d’un point de vue opérationnel. La détermination d’objectifs de cours est plus hasardeuse dans ce contexte d’incertitude et de mouvements très rapides des marchés financiers, réagissant davantage à un newsfow politique/sanitaire qu’aux communications des sociétés. Nous avons toutefois intégré l’augmentation de la prime de risque perçue et la modification des agrégats dans nos valorisations. Cette crise ayant des...

Zhang Jun

BAE Systems plc

BAE SYSTEMS PLC. sees an upgrade to Slightly Positive due to a better fundamental star rating

The general evaluation of BAE SYSTEMS PLC. (GB), a company active in the Aerospace industry, has been upgraded by the independent financial analyst theScreener with the addition of a star. Its fundamental valuation now shows 2 out of 4 possible stars while its market behaviour can be considered as moderately risky. theScreener believes that the additional star(s) merits the upgrade of its general evaluation to Slightly Positive. As of the analysis date December 24, 2019, the closing price was GBp 578.80 and its potential was estimated at GBp 626.92.

Zhang Jun

BAE Systems plc

Zhang Jun

BAE Systems plc

Zhang Jun

BAE Systems plc

Expert Corporate Governance Service (ECGS)

Bae Systems - AGM 09 May 2019

Item 2: Approve the Remuneration Report The structure is weighted more towards rewarding long-term performance, but maximum long-term incentive pay and the maximum bonus opportunity are excessive.  The quantum for the year was also considered excessive. The company operates two long term incentive plans, one of which does not apply performance conditions, which does not meet best practice. Both the STI and LTI are heavily reliant on EPS.  Over-reliance on EPS could result in management making decisions to maximize profits for the short term, often at the expense of long term shareholder value...

Bae Systems PLC – Proxinvest Corporate Governance Rating ® : B

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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