Wickes Share Discussion Threads

[philanderer] 27/3/2024 15:39

Calling it a day here. Small profit and a few nice dividends, can't complain.

Luck to holders

[wad collector] 26/3/2024 11:42

Still showing a healthy profit though divi only covered 1.1X but I also worry about the narrow margins in the sector; bit vulnerable. This yr was 4%.

[creditcrunchies] 22/3/2024 08:14

I remember Paul on stockopedia got a forward valuation of 240p on these on their previous earnings release I'll have to check out that report again

[philanderer] 20/3/2024 09:51

Liberum admits buying Wickes was the wrong call


Liberum has downgraded Wickes (WIX) as it admits buying the stock since the demerger was wrong.

Analyst Adam Tomlinson downgraded his recommendation from ‘buy’ to ‘hold’ but kept the target price of 165p in place on the Citywire Elite Companies plus-rated trade and DIY supplies retailer, which fell 1.8% to 147.3p on Tuesday.

There were ‘no surprises’ according to Tomlinson in the full-year 2023 results which was ‘a solid outcome’ and the acquisition of a small energy solution business was a ‘step in the right direction but profit margins are thin in the solar panels space’.

‘This deal together with the resumption of the share buyback are sensible uses of cash,’ said Tomlinson. ‘

‘On trading, it is tough and we expect a tough start to the year and with our bottom-of-the-range numbers, we leave these unchanged for now.’

Tomlinson said he prefers Victorian Plumbing in this space thanks to the ‘numerous catalysts’ on offer.

‘We have been buyers of Wickes since demerger and acknowledge this has been the wrong call,’ he said.

‘So until positive catalysts become visible, we cautiously move Wickes to a “hold” and recommend a switch to Victorian Plumbing, the leading bathroom specialist in the UK, where growth rates and margins are far superior.’


citywire.com

[philanderer] 20/3/2024 00:15

Panmure downgrades Wickes profit guidance due to cost pressures


Wickes Group PLC (LSE:WIX) “continues to demonstrate an ability to take market share in its Local Trade and DIY verticals”, but persistent cost pressures have forced analysts at Panmure Gordon to downwardly revise the home improvement retailer’s profit guidance for the year ahead.

Panmure now expects Wickes to finish with £43.6 million in profit before tax, down from prior guidance of £47 million.

It follows Wickes’ annual results call on Tuesday when the group posted flat revenues and a marginal increase in PBT.

Panmure’s forecasts, however, do not capture the proposed acquisition of Solar Fast announced today.

“Wickes now trades more in line with the non-food retail sector and offers a 7.3% dividend yield. We believe its operational gearing presents an opportunity to play consumer demand recovery over the course of the year,” said Panmure analysts.


proactiveinvestors.co.uk

[creditcrunchies] 19/3/2024 18:18

Results look good to me they've maintained the dividend, net profit margin up, large share buy back programme, strong cash position. Better than a lot of other UK companies in an awful economic climate

[philanderer] 19/3/2024 17:30

Big swing in the shareprice from the morning.

1.2 million shares traded , plenty of sales in the afternoon.

Disappointing day.

[philanderer] 19/3/2024 10:32

I thought the idea was to phase out gas boilers. In fact some new builds are not even having a gas main installed.

[this_is_me] 19/3/2024 07:45

Results steady as it goes which is good going in present circumstances. I can't comment about the acquisition.

[philanderer] 19/3/2024 00:16

Results tuesday morning.

[philanderer] 08/3/2024 17:51

Dog of the week in my portfolio.

[philanderer] 07/3/2024 12:23

Oh dear :-(

[albert35911] 05/3/2024 16:13

They will start buying back some more soon.

[philanderer] 05/3/2024 10:11

Read across from Travis Perkins sh1te results

[creditcrunchies] 01/3/2024 00:06

They did well with their share buy back programme average price of 135.5p with almost 10 million shares cancelled. They've still got another 12.5 million pounds left to buy back even more shares which is expected to commence soon after their results

[creditcrunchies] 01/3/2024 00:00

It says Tuesday 19th March on up and coming events

[philanderer] 26/2/2024 16:07

Results day last year was the back end of march.

[prokartace] 26/2/2024 15:56

167p would fill the gap created on 26/7/22 after the awful trading update. May be the level to take profits

[philanderer] 26/2/2024 15:29

Best one of my sorry looking lot today.

[this_is_me] 16/2/2024 16:46

Now above the critical 160p on the chart.

[philanderer] 01/2/2024 10:10

Talk of interest rate cuts now not until the summer.

[albert35911] 01/2/2024 08:37

Probably drop back 15p between now and next buy back.

[albert35911] 26/1/2024 11:06

Sp went up as well,that makes a change.

[philanderer] 26/1/2024 10:40

Nice surprise this morning :-)

[creditcrunchies] 26/1/2024 10:33

They used to have margins over 5% it's just recently they got thinner due to housing market slow down. Once that bounces back the margins should recover to the norm