Howden Joinery Share Discussion Threads

[interceptor2] 08/1/2015 11:02

Thanks for all the broker notes CR, much appreciated.

HWDN are a quality company imv, and from my own experiences with their clients, the customer service is of the highest quality. Delivering on customer service rather than talking about it, is so important for any company, and HWDN certainly score well.

I like the look of the chart, it looks like it's returned to the uptrend they enjoyed from 2012, after a breather and consolidation during 2014.


free stock charts from uk.advfn.com

[cockneyrebel] 08/1/2015 10:44

Numis:

LONDON (Alliance News) - Numis has upgraded its forecasts and price target on Howden Joinery Group, after the company said it expects its 2014 pretax profit to come in ahead of market expectations.
"We upgraded estimates on Howden three times in 2014 prior to this surprise year end update, and believe this latest upgrade is further evidence that the company is seeing the benefits of an improving underlying market which complements the business model which continues to drive self-generated sales and margin growth," says Numis analyst Howard Seymour.
The analyst believes that the company's momentum can be maintained in 2015 given that Howden is one of the most operationally geared stocks in Numis' merchanting coverage, which could increase the likelihood of surplus cash return this year.
Numis pushes up its financial year 2014 pretax profit estimate to GBP185 million from GBP175 million, and its fiscal 2015 pretax profit estimate to GBP213 million from GBP202 million.
The broker raises its price target on the company to 465.00 pence from 385.00p, maintaining its Add rating

[cockneyrebel] 08/1/2015 10:35

N+1 Singer out with a Buy rec

CR

[dlku] 08/1/2015 10:15

hope they are not cutting corners on H&S

[cockneyrebel] 08/1/2015 10:03

Peel Hunt:

"We continue to expect the group to announce either a big step up in dividends or some chunks of capital returns."

CR

[cockneyrebel] 08/1/2015 09:59

"PBT +5%/+4% 2014E/2015E. We have increased our adjusted PBT
estimates by 5% (from £177 to £185 million) in 2014E and by 4% (from
£194 to £201 million) in 2015E. Market conditions are unchanged and
our concerns that Howdens’ very strong P11 (October 2014) may have
pulled sales forward from November/December have proven groundless."

JPM are forecasting £186m net cash for year end :-)

CR

[cockneyrebel] 08/1/2015 09:57

From JP Morgan:

Belgium – a new territory for Howdens. Gross margin has been robust –
we forecast 63.4% for 2014E (2013: 61.7%).

Belgium looks like it could be a great market going forward imo.

CR

[cockneyrebel] 08/1/2015 09:49

Sales rose 8% last year, will be up 12% this year - great momentum imo.

CR

[cockneyrebel] 08/1/2015 09:45

JP Morgan overweight and 470p target is just a starter imo - further upgrades at the results imo.

Wait till all the broker notes get around today after they've been filled in by the co imo.

Investors going to be focussed the results date in Feb here out imo - which can only support the price over the next month imo.

CR

[interceptor2] 08/1/2015 09:10

Fine trading update as expected and they look good value on fundamentals, technical's look strong also, good chance of holding today's breakout on the back of the ahead trading update.

Longandshort, I agree about their "incredible reputation with their customers" over Christmas we stayed with family members who had just had a Howden kitchen fitted in the previous week, the units arrived pre cut and fitted perfectly. They couldn't have been more pleased, and are likely to be long term customers now.

[aishah] 08/1/2015 08:57

JP MOrgan OVERWEIGHT - ups tp to 470p
#64 - you could have had them under £3 last summer!

[brahmsnliszt] 08/1/2015 08:46

Onwards and upwards.

[cockneyrebel] 08/1/2015 08:35

agree thelongand.........

the PEG is below 0.5 - way too cheap.

Big divi hike in H1 - could be a big divi rise in H2 too imo.

£160m net cash - not short of a few bob to do a special divi if they fancied it imo.

And would make a great target for the likes of TPK imo.

CR

[thelongandtheshortandthetall] 08/1/2015 08:30

IMO
the market doesn't appreciate that it takes 7 years for each new depot to reach full sales.
So even if they stopped the depot roll out the sales would continue to increase.
I have a feeling that Howdens will increase it's product offer in the looonngg term. It is a trusted brand to 300,000 account holders. And should they match the prices from competition but leave them in the dust when it comes to availability I think Howdens will do very well indeed!!

Electrical, Plumbing, drainage., tools, tool hire.

Howdens have an incredible reputation with their customers, Small local builders and the small local builder is not going to be replaced by taylor wimpey when all you need is an extension and a new kitchen.

It is in further product ranges that I see Howdens future.

I don't know about everyone else but I would rather see a share price of £3 before £5

[tiger20] 08/1/2015 08:18

Well done CR

Travis Perkins Builders Merchants up 3.2% benefiting on HWDN results

Polypipe to follow there results 20th Jan

[cockneyrebel] 08/1/2015 08:15

A strong run to the results in Feb now imo - and broker upgrades.

Punters will want to be in ahead of the results imo.

There was a clue when they said the next 'scheduled' update is in Feb at the last trading update - a hint that they would make an unscheduled one if things are ahead.

100% earnings growth in 3 years - PEG way too low imo.

Well worth a fiver in my book un current expectations.

All imo/dyor etc

CR

[scrabble1975] 08/1/2015 08:13

Great pickings CR ;)

[jamespeach] 08/1/2015 08:07

Thanks for the tip on HWDN cr.

[bigbigdave] 08/1/2015 08:06

Splendid stuff, chart breakout too :o)

[thelongandtheshortandthetall] 08/1/2015 07:58

Lovely Jubly

no complaints from me.

[cockneyrebel] 08/1/2015 07:17

A rather lovely trading update, will beat forecasts - margins seem to be rising nicely too :-)

CR

[tjbird] 07/1/2015 15:43

Probably election jitters. housing-market-faces-pre-election-slowdown-according-latest-knight-frank-research/

[aishah] 07/1/2015 15:27

Having difficulty holding onto £4+. Maybe a seller about. Low fuel price should give them a boost too.

[cockneyrebel] 07/1/2015 12:00

By Ed Ballard

LONDON--U.K. housebuilders could benefit from supermarket price wars and the plunging price of oil as potential buyers find it easier to save the money for a new home, the boss of Persimmon PLC (PSN.LN) said Wednesday.
"The economy still has some way to go so we are cautious, but the reduction in oil prices and the competition between supermarkets are interesting factors," said Jeff Fairburn, chief executive officer of Persimmon, the U.K.'s largest builder by market value.
"Both of those could lead to consumers having more disposable income, which is good from our perspective," he said in an interview.
U.K. supermarkets, led by Tesco PLC (TSCO.LN), are slashing prices to compete with budget rivals. Meanwhile, with the price of a barrel of Brent crude below $50 for the first time since 2009, U.K. finance minister George Osborne on Tuesday called on utilities and fuel retailers to pass on lower prices to consumers.
These factors, combined with increasing mortgage availability and government incentives for first-time buyers, will help balance the uncertainty caused by May's general election, Mr. Fairburn said.
"All the parties recognise that we need more houses, so that's positive, but the detail is still to be determined," Mr. Fairburn said. "There will be debates in the run-up to the election which can cause people to be a little more cautious," he added.
Getting started on new sites will also take longer as planning officials wary about potential regulatory changes "sit on their hands" before giving projects the go-ahead, he added.
In a trading statement earlier Wednesday, Persimmon said it sold 17% more homes last year than in 2013, while revenue rose 23% to 2.6 billion pounds ($3.94 billion).
Shares gained 0.4% to trade six pence higher at 1,534 pence at 1108 GMT, slightly lagging the FTSE 100 index, up 1%.

[totally banjo] 06/1/2015 16:31

We will see.