market really dislikes the results it seems but recovered a bit from early low point |
I did think this. It’s up almost 10% in 5 days?! I wonder if it’s the buyback. Whilst a small tranche of £110m max - there was a pretty small window for it - it lapses 12 Jan I think. Or someone knows something we don’t….! |
bloody hell - its flying. |
Thanks ff. Maybe next time. |
The quarterly rebalance supposedly happens tomorrow…albeit I note there was an announcement on the 12th and FERG wasn’t there. Hmm! |
Seen a comment that S&P likely to admit ferg this month. Can anyone add to this please? |
Ferguson PLC said Friday that it is starting a share buyback of 375 million pounds ($459.8 million) in continuation of its $2 billion repurchase program.
The plumbing and heating products distributor has entered into an arrangement with its brokers for the buyback starting June 24 and ending no later than Oct. 10.
The purpose of the program is to reduce the capital of the company, and any shares repurchased will be transferred into treasury.
Ferguson said that it expects to request a further share-buyback authorization at the annual meeting to be held in November or December to continue the program.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT
(END) Dow Jones Newswires
June 24, 2022 02:34 ET (06:34 GMT) |
Good set of 9month results on 14 June, Revenue up 26.9% and adj diluted EPS up 57.9%. Plus, they have increased their full year guidance to an adjusted operating profit of $2.85bn to $2.95bn at the low end of the range that would be a 35.8% increase on 2021.
AlphaValue though threw some caution on the shares today with a note that suggests inflationary headwinds, that may dent consumer demand; to apollocreed1's point above. |
Back in@ 95US launch just now |
@the white house - I agree, but I'm slightly concerned with the rising inflation in building costs and the US housing market slowdown. Nevertheless, relative to similar companies in the US, Ferguson is still undervalued. |
Buybacks & US major listing finalised one way bet til May 12Added |
EezyMunny do you know which brokers will trade TI1? Hargreaves aren't interested. Slump in FERG/TR1 says buying opportunity to me. |
 Ferguson comprises departments distributing plumbing and heating products to professional contractors. The Company's segments include USA and Canada. It serves the repair, maintenance and improvement (RMI) markets, and construction market. The Company's USA business units include Residential Showrooms, eBusiness, Heating, Ventilation and Air Conditioning (HVAC), Fire and Fabrication, Waterworks and Industrial. The Canada segment operates as a wholesale distributor of plumbing, heating, ventilation and air conditioning, refrigeration, waterworks, fire protection, pipes, valves and fittings and industrial products. These plausible initiatives enabled the firm to have a diversified funding structure, leading to multiple sources of income and thereby forcing up revenue by 29%, Given the revenue hike, operating profit simultaneously rallied to £1,294m in 2021 from £769m in 2020. Subsequently, the group achieved a robust balance sheet and has capacity for further investment, since the firm is able to fund its operations, investing and financing activities effectively while attracting a wide variety of stakeholders. Consequently, it implies that Ferguson PLC is planning to optimise capital received from shareholders and retain profits to invest and achieve organic growth. This evidence is supported by the EV/EBITDA of 13.09, indicating that the firm has an attractive intrinsic value while offering a robust dividend yield of 2%. |
Plumbing new heights ...
GLA
🎅🎅🎅🎅 |
"Ferguson: Building on success across Atlantic"
GLA 😎 |
Seems to be overbought currently
GLA 😎 |
Why the drop at opening? Tree shake!! |
The best performing share I own. owned since Wolseley days.
Problem is I own far too few
Always waiting for the pullback that never comes. |
Yes, no stamp duty - on account of it being a US company in all but name.
I've seen worse charts...
:-) |
imastu ,
no SD ? interesting and reason I mainly trade CFDs nowadays although I still have share account with HL . FERG is not a bad one to hold or trade with no SD which is rare . Good luck with FERG if you are still holding.
TI1 has a lovely chart too Eezymunny but not in FTSE 250 and hence much higher commission with
IG for CFDs ! |
Good update today but the real value in Trian (TI1) one would think. Sat at a big discount to it's FERG holding and now embarked on a big buyback. |
Ferguson PLC said Tuesday that pretax profit rose 18% in the first half of fiscal 2021, and it declared a special dividend after unloading its remaining U.K. business.
The London-listed, U.S.-focused plumbing-and-heating group made a pretax profit for the six months ended Jan. 31 of $739 million, compared with $628 million a year earlier.
Revenue rose to $10.31 billion from $9.89 billion, and trading profit--one of the company's preferred metrics, which strips out exceptional items and amortization of acquired intangible assets--increased to $875 million from $781 million.
The board declared an interim dividend of 72.9 cents a share, having suspended last year's interim payment until the final dividend. Following the 308 million pound ($428.2 million) sale in early 2021 of its U.K. Wolseley business, the board also declared a special dividend of 180 cents a share.
The company said it has performed well since the beginning of the third quarter, and while the second half outlook is uncertain it expects to generate above-market revenue growth. This is expected to be partially offset by increasing supply chain pressures, transportation costs and reversal of temporary cost-cutting actions, though overall the company is well-positioned, Chief Executive Kevin Murphy said. |
Funny though - FTSE 100 share, no stamp duty, with that chart - and thread is emptier than (fill in your choice)'s trophy cabinet... |
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