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WJG Watkin Jones Plc

40.70
-0.70 (-1.69%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Watkin Jones Plc LSE:WJG London Ordinary Share GB00BD6RF223 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.70 -1.69% 40.70 40.35 40.80 43.00 40.30 43.00 1,129,530 16:35:06
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Operative Builders 413.24M -32.55M -0.1269 -3.22 104.63M
Watkin Jones Plc is listed in the Operative Builders sector of the London Stock Exchange with ticker WJG. The last closing price for Watkin Jones was 41.40p. Over the last year, Watkin Jones shares have traded in a share price range of 30.00p to 101.00p.

Watkin Jones currently has 256,441,253 shares in issue. The market capitalisation of Watkin Jones is £104.63 million. Watkin Jones has a price to earnings ratio (PE ratio) of -3.22.

Watkin Jones Share Discussion Threads

Showing 126 to 146 of 3875 messages
Chat Pages: Latest  11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
10/6/2016
07:04
MartinProbably worth calling the company to get clarification?Carmensfella holds this so I wonder if long term it can be a Crawshaw.
invisage
10/6/2016
06:54
P.S. Looks like a very good long term hold to me.
shanklin
10/6/2016
06:54
Invisage

Yes, I am aware they have other strings to their bow albeit I only really looked at the part of the presentation you highlighted.

Hence me wondering why they have so singularly linked "target income" to "beds contracted". I guess (because they don't explicitly state this) that this only relates to the student accommodation part of their business. And they are not making such specific predictions elsewhere?

I guess we will need a broker report to extrapolate widgets, in multiple business strands, into sales and profitability going forward.

Thank you again for the link which I will look at in more detail later today.

Cheers, Martin

shanklin
10/6/2016
06:36
MartinRead their presentation. They are targeting more than student accommodation, it is their recurring income from the managed property business that I like.It will help pay that 6% dividend yield.Also good growth is their residential business.
invisage
10/6/2016
06:25
Invisage

Thank you for the link

It would be quite helpful to know what income is being targeted going forward and I have no idea whether "beds contracted" is the best/only operational measure of this. Is the group purely looking at student accommodation going forward.

Thoughts welcome as I am not too bothered how many widgets WJG make each year unless that is the best and only operational predictor of future growth in revenue and earnings.

Cheers, Martin

shanklin
10/6/2016
06:22
A nice plug for WJG in today's Tempus column in the Times:



"And finally . . .

Without taking away from the achievements of those operating in the sector, it has been difficult not to make money out of providing student accommodation in recent years. The university population has been growing, not least students from overseas. Watkin Jones, which has provided 28,000 beds across 88 sites, arrived on AIM in March and the shares are comfortably ahead of the £1 float price. Confident half-way figures show that the vast majority of beds in the pipeline have already been sold."

rivaldo
10/6/2016
05:31
Thanks jonwig & Ben
glaws2
09/6/2016
19:18
Interesting presentation following results today :

hxxp://www.watkinjonesplc.com/~/media/files/w/watkin-jones/investor-docs/results-and-presentations/interim-results-presentation-for-the-six-month-period-ending-31-march-2016.pdf

Some points to note

- Interesting to read the following :

• FY16 - target income 100% contracted. 8,310 beds contracted
• FY17 - target income 96% contracted. 12,663 beds contracted
• FY18 - target income 87% contracted. 16,660 beds contracted
• FY19 - target income 79% contracted. 16,913 beds contracted
• FY20 - target income 70% contracted. 17,924 beds contracted

They grew student accommodation profits by 26% in 1H and 150% increase in Residential revenue.

Gross margin on Fresh Student living is 86% and the number of beds will more than double by 2020 from apporx 8000 to 18000m gross profit was £300k from 1 month so that is £3.6m per year or £7.2m+ by 2020.


Slide 14 is interesting showing the end to end model of their student business.

invisage
09/6/2016
18:46
Loads of jobs advertised on their website :

hxxp://www.watkinjones.com/careers/latest-vacancies/

invisage
09/6/2016
15:50
Growing income stream from management of let properties also...
ben12358
09/6/2016
15:28
Just remembered- they are moving into the rented housing sector also...
ben12358
09/6/2016
15:26
Glaws- if you hold the view alot of the student halls of residence were built in the 60s and 70s it's probable alot of them will be unfit for purpose now and so will need demolishing and rebuilding. That was my thought with this one, anyway....
ben12358
09/6/2016
15:16
Glaws - operators are paying ever higher prices for new student accommodation. For example, Empiric has just bought a property (not quite new-build) for £140,000 per bed. A year ago, prices averaged below £100,000 per bed.

There's strong competition for the secure income these properties generate. Some smaller operators won't want to do their own management (hence "Fresh") and as you say PRS looks here to stay - for a good while, anyway.

jonwig
09/6/2016
14:30
Perhaps I have got the wrong end of the stick but I'm struggling to see where the growth will come in 2017 in their main revenue stream of student accommodation development. For FY2016 they are scheduled to deliver 3500 beds - but for FY2017 this drops to 3000 before returning to marginal growth of ~3600 in FY2018.

I appreciate that there will be growth from the Fresh and PRS segments.

Any views ?

glaws2
09/6/2016
13:24
We're not far off this year end of 30th September - it's only 4 months away. Others have mooted that WJG may beat this year's forecasts given today's numbers.

Meanwhile, the market will start to look to next year's forecast of 13.4p EPS. Even a P/E of 10 would give decent upside from here.

But the forecast dividend for next year is a whopping 6.28p, so this will encourage income funds to buy in too. It's possible to see say 145p-150p on that basis imo without any upgrades or earnings-enhancing contracts adding fuel to the fire.

rivaldo
09/6/2016
12:03
Tempted.Just be nice to get a feel as to H2 weighting/seasonality. Had a look at UTG but FY is calender year, taken a look at TEF (also adopting forward funding model) and March-Sept is about double the eps, trouble is they are a pure house builder.Don't generally go by what house brokers/Nomad's say (Zeus and Peel Hunt). If eps is 12p then with a PE of 10, not much potential here........but then again!.Thoughts? (Naturally no advice taken, Dyor, etc etc).DD
discodave4
09/6/2016
08:36
Joined you guys here. Looking good. Should get further coverage from tip sheets etc post results so would expect more buying on the back of this.
invisage
09/6/2016
08:33
Results all good. Expecting further steady progress once market steadies / Brexit is out other way.
its the oxman
09/6/2016
08:28
Alpha - thanks, but I was thinking of the weather as I gather they take phase payments rather than a single end payment. Though there's certainly going to be a push for delivery to the owner by September. Two factors, then.

Incidentally, there's a huge volume of buying this morning, within the quoted spread.

jonwig
09/6/2016
07:57
jonwig 9 Jun'16 - 07:22 - 95 of 103 0 0

I can't find an explicit statement anywhere which confirms seasonality (ie. H2 stronger than H1, for obvious reasons).

I would suspect this is due to the end of the second half corresponding with the start of the academic year. Some customers are going to want to have their blocks built to coincide with this to save them sat idle. As you mention it can be seen in last year's figures.

alphabeta4
09/6/2016
07:51
Peel Hunt says BUY with 130p target.
someuwin
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