Insists should have had enough time to digest the trading update and decide whether they are going to commit funds to BME. Generating the cash to invest from either sales of other assets or from new income may take a little longer.On the assumption that BME is worth the investment I would expect to see a stronger performance over the next couple of weeks to take us to at least 500p initially. |
17 July. Barclays cuts BME target from 615 to 600, overweight. |
Dunelm unaffected by container freight rates |
Oh dear ! For 30 mins yesterday the plan was going so well. Having spent the last 6 months watching BME and failing to fathom it's daily, even weekly, moves I thought maybe I thought I'd found a point where the trend should be clear. I should have known better.No disaster, and at least I got Tuesday very right. But on a daily basis the track of the BME share price remains an enigma to me.But with a price target of 690 I very happy to let my new core holding run, and let my additional day trade turn into a multi day trade in the hope that we will hit 500 in short order.Happy hunting guys. |
On my watchlist :-) |
Thanks for posting Phil |
B&M is a ‘clear buy’, says Peel Hunt
The ‘bloodbathR17; expected in the B&M European (BME) quarterly update has not emerged and Peel Hunt says there remains a ‘highly attractive equity story’.
Analyst Jonathan Pritchard retained his ‘buy’ recommendation and target price of 690p on the Citywire Elite Companies A-rated discount retailer, which rose 4.6%, to 467p on Tuesday after it reported a dip in sales in its first quarter.
Pritchard said that the result was ‘perfectly acceptable’ given the ‘exceptionally tough comparative’, and that new stores have started well, ‘ahead of management expectations in both sales and profit terms’.
‘The bears were expecting a bloodbath, but forecasts are set to remain largely unclipped,’ he said.
‘With the shares having had a torrid time of late, we expect them to do well short and long term: we see a highly attractive equity story here, and with special dividends likely to remain a feature, it is a clear “buy” to us.’
citywire.com |
Couldn't believe it. The share price dropped a few pence first thing. I had sold another share late yesterday afternoon so had a little cash and was able to pick up a few more of BME at 462.8. Hoping for a quick trade out later today. |
Looking at the chart over the last year it was a puzzle to me that the share price had been swinging in a slight downward trend. Why ? All the announcements had been positive, the business was being tightly run.Then came the drop of the last few weeks from 550 to 450. Weather and shipping costs seemed to be the main concerns. But we now know these did NOT actually impact the business adversely, instead the business was very profitable.Unless I'm missing something it seems to me that as a minimum the share price ought to get back to 550. Then because the business is actually growing the previous downtrend should turn to an uptrend thereafter.But even just getting back to 550 seems to me a very low risk return of 20%, maybe within a month. |
I bought in this morning.
Sensible I would say back. That chart is looking good! |
Was tempted to join the profit takers with some of my holding once they hit 470, but these could easily cruise to 500+ in the next few days and I reckoned there was more risk of missing out on further rises than successfully trading the dips. Greedy or sensible ? |
They have opened 19 ytd and are on track to open 45 by end of the year. All new stores are performing ahead of expectations. |
I think they said 20 new stores this year. |
On LinkedIn some of the managers post new store openings, always seems to be one a week somewhere |
I am listening to the phone call session and the summary is that Q1 was very profitable. They anticipated weather and didn't have to discount garden lines. The CEO sounds extremely confident. The business is run very scientifically and very tightly. It's all very impressive. |
I have fy eps at 40p and bought in on the bell this morning so i think we are on 11x, held off buying recently as i had concerns around freight costs. Nothing mentioned. Store roll out on track, comparatives ease in H2 and no flies in the ointment. |
I was expecting this to jump at least 10p on opening. What did it do ? It fell a few pence.Suits me, back in under 442. Now it seems to be getting some traction. I'm hoping to be in and out here with some small trades over the next few weeks if my expectation of a rerate back to 550 proves correct. |
Thanks Back |
PE is 12.2. |
Yes but what's the current PE here? |
Looks to be OK, revenue up, must presume margins maintained so profits increased.Big 1M buy just after close yesterday. What's that about ?Looks to me like we should be headed back towards 550. |
Well, they've done pretty good with seasonal |
Well, that's just stating the bleeding' obvious.With a business like BME and the way they run it it's all about like-for-like and in depth. Separating out the new stores from existing, UK from France, season with season.To be fair, the CEO did provide a lot of information at the last presentation. |
Good article in IC today, but gives a lot of concerns re like for like figures which they say need to be the focus in next week’s announcement |
We seem to be bottoming out, though 440 level doesn't appear to be historically significant.Shouldn't be long until we get a trading statement. |
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