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RYCEY

Rolls-Royce

$8.16

-0.225 (-2.68%)

12:18
01/16/17
01/16
12:18
01/16/17
12:18

Rolls-Royce reaches bribery settlements, sees FY16 profit ahead of expectations

Rolls-Royce announced it has in principle reached a deferred prosecution agreement with the U.K. Serious Fraud Office, which was the subject of a preliminary court ruling Monday. In addition, Rolls-Royce has also reached a DPA with the U.S. Department of Justice and a leniency agreement with Brazil's Ministerio Publico Federal. "These agreements relate to bribery and corruption involving intermediaries in a number of overseas markets, concerns about which the company passed to the SFO from 2012 onwards. These are voluntary agreements which result in the suspension of a prosecution provided that the company fulfils certain requirements, including the payment of a financial penalty," the company noted. In total, the agreements would result in the payment of approximately GBP 671M. Rolls-Royce has agreed to make payments to the DOJ totalling $169.9M and to the MPF totalling $25.6M. Under the terms of the DPA with the SFO, Rolls-Royce will pay GBP 497.3M plus interest under a schedule lasting up to five years. Total payments by Rolls-Royce in the first year of all three agreements would be GBP 293M. Rolls-Royce will report full year results on February 14 and an "appropriate update on the implications of these agreements" will be provided at that time. The company added that "early indications are that the Group has had a good finish to the year with both profit and, in particular, cash expected to be ahead of expectations." Reference Link

RYCEY Rolls-Royce
$8.16

-0.225 (-2.68%)

03/10/16
GSCO
03/10/16
DOWNGRADE
GSCO
Neutral
Rolls-Royce downgraded to Neutral from Buy at Goldman
Goldman Sachs analyst Chris Hallam downgraded Rolls-Royce to Neutral citing valuation.
04/04/16
FBCO
04/04/16
DOWNGRADE
FBCO
Underperform
Rolls-Royce downgraded to Underperform from Neutral at Credit Suisse
04/04/16
04/04/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. J.M. Smucker (SJM) downgraded to Sell at Goldman by analyst Jason English, who believes Smucker's faces a negative estimate revision cycle due to fundamental challenges in its core and recently acquired businesses. English said coffee costs have turned and expects SJM's favorable cost spread to turn negative in 2017 and recent distribution gains in both coffee and pet will begin to be lapped. 2. Allegheny Technologies (ATI) downgraded to Underperform at Cowen due to the firm's belief that the company's long-term outlook is encumbered by likely negative near-term free cash flow and earnings. 3. Consolidated Communications (CNSL) downgraded to Underperform at DA Davidson citing valuation. 4. Smith & Wesson (SWHC) downgraded to Hold, Market Perform and Neutral at BB&T, Cowen, and CL King. Cowen analyst Cai von Rumohr cited slowing March NICS data and share performance year-to-date. The analyst said sequential declines of 13.2% and 8.0% for handguns and long guns, respectively, were the weakest of the past decade and well below ten year averages for hand guns and long guns. 5. Rolls-Royce (RYCEY) downgraded to Underperform from Neutral at Credit Suisse. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.
08/10/16
MSCO
08/10/16
UPGRADE
MSCO
Equal Weight
Rolls-Royce upgraded to Equal Weight from Underweight at Morgan Stanley

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