Share Name Share Symbol Market Type Share ISIN Share Description
Mj Gleeson Plc LSE:GLE London Ordinary Share GB00BRKD9Z53 ORD 2P
  Price Change % Change Share Price Shares Traded Last Trade
  -8.00 -1.85% 425.00 210,378 09:35:11
Bid Price Offer Price High Price Low Price Open Price
421.00 429.00 431.00 425.00 430.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Construction & Materials 288.58 41.71 58.16 7.3 248
Last Trade Time Trade Type Trade Size Trade Price Currency
10:48:54 O 424 423.808 GBX

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Date Time Title Posts
02/2/202314:28*** MJ Gleeson Group ***563
10/8/201109:22Gleeson Group63
26/11/200717:14Gleeson interims !62

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Posted at 03/2/2023 08:20 by Mj Gleeson Daily Update
Mj Gleeson Plc is listed in the Construction & Materials sector of the London Stock Exchange with ticker GLE. The last closing price for Mj Gleeson was 433p.
Mj Gleeson Plc has a 4 week average price of 354p and a 12 week average price of 331p.
The 1 year high share price is 760p while the 1 year low share price is currently 331p.
There are currently 58,306,337 shares in issue and the average daily traded volume is 217,568 shares. The market capitalisation of Mj Gleeson Plc is £247,801,932.25.
Posted at 17/1/2023 12:28 by disc0dave45
MJ Gleeson (GLE) is facing a tough market in the short-term, but despite cutting its earnings prediction Berenberg still believes the developer has medium-term potential.Analyst Harry Goad retained his 'buy' recommendation and target price of 470p on the stock, which edged 0.7% higher to 414p yesterday.Following a first-half 2023 trading update from the group, which reported home sales were down 4% year-on-year and the order book had fallen 48%, Goad cut his earnings per share forecast by 5%.'We reiterate our medium-term positive view, which stems from the group's strategic positioning as a provider of lower-cost, but good quality, housing,' he said.'While MJ Gleeson will experience a drop in volumes this year as a result of market headwinds, we continue to believe that it is well positioned to win market share and outgrow the underlying market over the medium term.'
Posted at 13/1/2023 08:55 by gargoyle2
Grim reading, but so is the share price chart recently. All in the price already imo. Liberum have reitersated 560p target today, Singer 588.
Posted at 03/1/2023 09:44 by hugepants
Topped up here. Share price pretty much flat whereas the other housebuilders are up 4% this morning. I hope this can claw back some of the 56% drop last year. It's on a 25% discount to NAV but that was at end of June. Should be more now?
Posted at 18/11/2022 13:43 by shrout
Paul Scott's current favourite stock. Not sure how much of a recommendation that is..

Also quite a divergence going on between the lows on the relative strength and price charts.. ie higher lows on RS while share price continues to tumble. Could suggest a change of trend is in the offing.. but who knows?

(Edit - I like Paul Scott btw. Just didn't want anybody to think just because it's his favourite stock atm it will necessarily do well from here on in).

Posted at 18/11/2022 10:08 by ghhghh

You are being unfair! The turmoil post mini budget was unprecedented and caught everyone with their trousers down

The others have recovered because they had about double the exchanged forward sales. But only gives them more breathing room and time to adjust

Hence Gleeson (with 30% forward sales) are first in line to suffer the full impact of slowdown.

The issues are

Can they survive without write downs (altho in the price)? Peel Hunt say yes and should maintain +ve net cash. EPS cut by 30% but again, in the price.

How much business can they poach from the bigger players? They have always claimed that they are best placed/most defensive for this reason. We will find out now!

Finally, just how much bad news is in the price. Since the post budget lows other HB's are up 20% and Gleeson down 20%. This is crazy. Either Gleeson far too cheap or they are over bought.

Finally what's spooked the markets is the drop to .26 site sales but Gleeson the most up to date and the other HB's have quoted average from pre post budget, hence misleadingly high.

Gleeson must be a takeover target down here. It's also the only HB the Govt will try to support

Posted at 18/11/2022 07:27 by aishah
"The average selling price on new reservations since the start of the financial year was GBP186,500, an underlying 9.0% higher than the same period last year. Despite these higher prices, our homes remain attractive to first time buyers and a couple on the National Living Wage can still afford to buy a Gleeson home on any one of our development sites. Furthermore, we are now seeing interest from customers who might previously have considered a more expensive property built by another developer but who, in the current environment, are attracted by Gleeson's more affordable price points."

After yesterday's autumn statement lots more will lean towards an affordable GLE home as NLW rises to £10.40.
A bigger player could pounce here imo.

Posted at 28/10/2022 15:53 by disc0dave45
"Seven years ago NAV per share was 254p, now 487p"Seven years ago the shares were trading well in excess of NAV, a premium of 42% to 236%. Now the share price is trading at a 23% discount to NAV......undervalued by some margin IMO.
Posted at 28/10/2022 09:32 by ghhghh
I'm very heavily into HB's.

Gleeson trading at a 7 year low.


Seven years ago NAV per share was 254p, now 487p

Net cash was c.£10m, now £34m

PBT was £17.3m, now £55.5m

Worth looking at the Going Concern statements, some HB's have modelled the GFC (20% price fall, 50% volume fall) without problems. TW have said they have stress tested 20% price/30% volume and can still pay a dividend.

Gleeson's GC is the weakest, modelling 5% price, 20% volumes and extra over budget additional 10% inflation plus delay on land sales.

They probably believe that 5% price fall is conservative since they are so much cheaper than any competitors.

Posted at 20/9/2022 18:33 by disc0dave45
Liberum on GLEThe market is wrong not to set MJ Gleeson (GLE) apart from its housebuilding and regeneration peers, according to Liberum.Analyst Charlie Campbell retained his 'buy' recommendation and target price of 830p on the stock, which fell 2.7% to close at 477p on Friday.The group reported full-year earnings per share grew 34%, as it sold 10% more homes at 15% higher prices.'Demand for its low-cost homes remains robust and this will continue as its homes are 40% cheaper than peers and it is cheaper to buy than to rent,' said Campbell.'We nudge up 2023 estimates and expect profit growth as outlets increase and demand holds up.'He said this made the market 'wrong not to differentiate MJ Gleeson' from its peers 'as demand will hold up better at low price points, especially in the north where affordability is much less stretched'.'We see over 80% total shareholder return upside to our target price,' he said.
Posted at 15/9/2022 13:41 by kalai1
MJ Gleeson plc posted FY results for the year ended 30th June 2022. The numbers reflect strong underlying demand for high quality, affordable housing, the Group achieved its medium-term strategic objective of delivering 2,000 homes pa. Gleeson Homes sold 2000 units, a 10.4% increase on FY21, with average selling price up 14.7%. Group revenues were up 29.4% to £373.4m, PBT was up 33.1% to £55.5m and EPS was up 34.2% to 78.1p. Valuation is attractive with forward PE ratio at 6.4x, the business is also reasonably high quality. Main clouds for the investment case are the weakening macro environment and lack of share price momentum. GLE is a solid, profitable homebuilder at an attractive valuation and is certainly worth monitoring, but there is no immediate rush to buy...

...from WealthOracle


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