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Wolseley Share Discussion Threads
Showing 2076 to 2097 of 2100 messages
|A pretty encouraging set of results - which the market looks like its cottoning on to.|
|From todays RNS:-
"After a low point in November, like-for-like revenue growth over the subsequent three month period to 29 February 2016 improved to 3.2 per cent for the Group and 5.7 per cent in the USA"|
|A quiet board.... In a sort of down trend since August?... What's going on?|
|Yes competition - that's totally new!|
|WELCOME TO WOLSELEY _ ACTIVE INVESTORS CLUB (WOS)|
|WOLSELEY _ ACTIVE INVESTORS CLUB (WOS)|
|So why the hammering today on those seemingly good results?|
|Never ever take the slightest notice of them either way even if you live another 100 years, they are complete and utter rubbish designed to keep third rate failed bean counters in jobs .|
|and what might those broker targets tell us ...ummm... about brokers and broker targets...
|Goldman Sachs Wolseley PLC 09/09/2015
4,690.00 5,305.00 4,196.00
|Upgraded by Citi this morning
New TP 4725.|
|Ashtead Group and Wolseley are both gaining on the back of the rising US dollar|
|Builders and plumbers merchant Wolseley said it is on track for the full year after a double-digit increase in underlying profits in the first half, helped by record trading margins in the States and strong growth in e-commerce.
Adjusted trading profits rose 11.1% year-on-year to £390m in the six months to 31 January.
However, reported pre-tax profit sank 67% to £103m after a £245m impairment relating to acquired intangibles in the Nordics arising from the acquisition of DT Group back in 2006.
Group revenues rose 8.9% to £6.44bn, up 10.3% at constant exchange rates and 7.8% higher on a like-for-like (LFL) basis. LFL sales from the USA, its largest division with half-year sales of £3.91bn, were up 11.7%.
Meanwhile, e-commerce now accounts for 13% of group revenues at £811m.
Chief executive Ian Meakins said Wolseley delivered a "good trading performance" and the ongoing trading margin improved by 20 basis points to 6.1%.
"This was driven by the USA where all of our businesses strongly outperformed their markets and we achieved a record 7.9% trading margin," he said.
LFL revenue growth rates across the rest of the group also improved which the company said was driven by targeted investment in sales and marketing.
The company raised its interim dividend by 10% to 30.25p per share.
However, looking ahead the company expects group LFL growth to moderate to "about 6%", though constant-currency trading profits for the full year should be in line with analysts' expectations|
|Shares in Wolseley were retreating on Tuesday after solid gains the previous day, though analysts at UBS hiked their target price for the stock and gave a positive outlook ahead of the plumbers and builders merchant's interim results next week.
The bank lifted its target for the shares from 3,980p to 4,500p and retained a 'buy' rating, saying it expects Wolseley to report "solid" growth in the States when it reports on its half year on 24 March.
Like-for-like (LFL) sales are expected to have grown by 6.5% in the six months to 31 January, though UBS noted that the reported figure could be higher if the struggling French business is re-classified as a discontinued operations.
The US business, which accounts for around three-quarters of group earnings, is forecast to have increased LFL sales by 12.5% in the second quarter alone, after 12.4% growth in the first. UBS said: "Peer reporting suggests there is risk to the upside considering a relatively easy comparison basis from the prior year."
Trading profits are estimated to rise by 14% to £401m for the first half, with earnings per share up 15% at 105p.
UBS said: "Going forward, we expect more of the same: a focus on enhancing organic growth, small bolt on M&A and cash returns to shareholders. The US comps will undoubtedly get tougher and holding double digit growth will be more challenging, but we believe high single digit sales growth remains achievable into [financial years ending 2016 and 2017]."
With the shares trading at 16.1 and 14.1 times 2015 and 2016 calendar year earnings respectively, the broker admitted that the valuation is no longer depressed but still remains "attractive" compared with its peers.|
|Looks like it's heading to 3800 looking at the chart, possibly even lower depending on that main market (3400-3700).|
|WARWICKSHIRE plumbing and heating giant, Wolseley, has acquired a substantial stake in a Coventry-based online bathroom retailer in an undisclosed deal.BathEmpire.com was founded in 2009 by entrepreneur Chris Li, a former finalist in TheBusinessDesk.com’s West Midlands Business Masters awards.Leamington-based Wolseley has not disclosed the full amount of its involvement but in a statement to the London Stock Exchange it said it had an option to acquire the outstanding stake in the business at a future date|
|Buy recommendation in Investors Chronicle = kiss of death|
|This was extracted from news today.....heating- and plumbing-products maker Wolseley PLC , up 1.8%, following an upgrade to buy from hold at Berenberg, which said the downward revision in consensus earnings estimates over the last 18 months is now over.
The next earnings upgrade cycle "will be driven by upside risk to Wolseley's U.S. business, where the group can sustainably grow market share. Complemented by underlying market recovery in U.S., residential and non-residential construction, Wolseley is an attractive proposition," said analysts Michael Watts and Robert Muir.|