Redrow Share Discussion Threads

[p@] 22/7/2008 09:48

Must admit they are staying up well,looks like there is a chance of a bid.

rolv- just pray they don't rent them out.

[rolvenden] 22/7/2008 09:44

Unfortunately, REDROW have many unsold flats in our Marina,despite big discounts. Unless they reduce them further, they will never sell in this market.They are still about 20k-30k above current market price!!

[p@] 22/7/2008 09:31

Sold out this morning ,where can i find out about these bid rumours?

[wapper] 21/7/2008 12:02

Bid coming ? Rumour VC's circling.

[qazwsx123] 09/7/2008 11:06

Come on big mama, one more push for daddy and my spread bet will take me over £5000 profit in 24 hours. Irritated if I have to settle for some paltry amount like £4326 profit for a 24 hour investment.

[qazwsx123] 09/7/2008 10:51

Come on big mama, up we go again.

[qazwsx123] 09/7/2008 10:45

Moving up again.

[qazwsx123] 09/7/2008 09:37

Nice return on my purchase yesterday. Looking for more gains this week.

[marknicho] 08/7/2008 12:22

Rumours do abound don't they? :)

[yanny2] 07/7/2008 20:21

is the divdend still to be paid on this share

[ibuyland] 03/7/2008 08:25

Rumour is Steve Morgan might be looking to buy the company back.

[crosswire] 03/7/2008 06:43

Thursday July 3

TRADING STATEMENTS
Redrow

Tuesday July 8

TRADING STATEMENTS
Persimmon Homes
ECONOMICS
CML's UK May mortgage lending (0930 BST)
UK govt May house price figures (0930 BST)

Thursday July 10

TRADING STATEMENTS
Barratt Developments
ECONOMICS
BoE rate decision (1200 BST)

Tuesday July 15

ECONOMICS
UK RICS June housing market survey (0001 BST)

[zagrem] 02/7/2008 23:44

Widespread asset sale i would think, unless suitor emerges.

[roryb] 02/7/2008 23:32

Why do you think that marknicho, is that official. I thought it was just a rumour.

[marknicho] 02/7/2008 21:04

I think their trading statement is delayed until next week.

[liam1om] 02/7/2008 18:47

Are the results definetly out tomorrow, I've heard that they could be delayed untill next week??

[marknicho] 01/7/2008 10:32

Redrow announced 'consultations' to staff yesterday at their year end and the closure of the North West and Southern office with sites being transferred to other regions to manage.

Watch this space but rumours abound that something may be in the offing with a significant individual post-year end results.

[crosswire] 26/6/2008 10:54

Investors Should Avoid U.K. Homebuilders, Credit Suisse Says

By Tim Barwell

June 26 (Bloomberg) -- Investors should avoid U.K. homebuilders, as the industry still faces ``considerable'' risks and the recent drop in share prices is ``more than'' justified, according to analysts at Credit Suisse Group AG.

House prices will fall 10 percent this year, with the volume of homes built down 30 percent, and in 2009 prices and volumes will both fall 10 percent after ``continued appalling mortgage approvals data,'' analysts including Harry Goad said in a note today.

U.K. mortgage approvals fell 56 percent to the lowest since at least 1997 in May, according to the London-based British Bankers' Association. Britain's house builders have fallen on investor concern that some may be forced to write down the value of their land, carry out discounted rights offerings and swap debt for equity to cope with a deepening housing slump. Some may also breach banking covenants as earnings dry up, according to analysts.

If past trends are repeated, the Credit Suisse analysts said, land prices will fall about 50 percent, causing the net asset value of Barratt Developments Plc, the U.K. builder whose shares have fallen 84 percent this year, to decline 64 percent, and Taylor Wimpey Plc's net asset value to decrease by 46 percent.

The broker slashed its 12-month price target for Barratt to 100 pence from 300 pence. Taylor Wimpey had its target cut to 70 pence from 145 pence, and Persimmon Plc, the largest U.K. homebuilder by market value, saw its target reduced to 270 pence from 450 pence.

Loan conditions could be breached, raising the chances that companies will need to raise new equity, diluting the current earnings base, the analysts said.

Barratt shares dropped 4.2 percent to 68.25 pence at 9:14 a.m. in London. Persimmon dropped 3.1 percent to 328.5 pence, while Taylor Wimpey added 0.9 percent to 57 pence.

-- Editor: Jim Silver, Andrew Noel.

To contact the reporter on this story: Tim Barwell in London on [e-mail]

Last Updated: June 26, 2008 04:17 EDT

[the troll] 19/6/2008 17:02

because Citigroup have issued a buy recommendation today with a £ 2.65 target price ( see post 48 ) & every buy/sell broker's note that's published seems to be get unquestioning attention just now ( well, for 1 day anyway ). however, the fact Tosca has ammassed a near 20 % stake & there's been talk of an approach by Bellway suggests to me there could be safer shorts out there ? No advice intended.

[sandbank] 19/6/2008 15:50

TUFFBET: Funny you should mention it- but I was going to put a rather predictable short on Redrow this morning after Goldman Sachs nominated Redrow as a sell. Their analyst Eshan Toorabally said Redrow was one of his "key sell ideas".

I was distracted by other things and never got around to placing the trade- thank goodness! ...But it's hard to understand why people are buying today. It feels like a repeat of what happened to BDEV a few days back.

[judge jury] 19/6/2008 08:25

BROKERWATCH Redrow upgraded to 'buy' at Citigroup, Bovis Homes lifted to 'hold'
19 June 2008
AFX UK Focus

LONDON (Thomson Financial) - Citigroup has upgraded Redrow Plc. to 'buy' from 'sell', and Bovis Homes Group Plc. to 'hold' from 'sell', in a review of the UK housebuilders in which the broker said the near-term looks ugly, but there are opportunities for longer-term investors, according to market sources.

On Redrow, the broker said it is upgrading its recommendation given the recent shares price sell off and cash generation potential.

The broker said it has cut its EPS estimates for 2009 and 2010 by 77.5 percent and 95.5 percent, respectively, to reflect the weaker UK housing market, while keeping its 265 pence target price.

Turning to Bovis Homes, the broker said it has lifted its rating to reflect the recent share price fall and relatively strong balance sheet.

The broker said it has cut its EPS forecasts for 2008, 2009 and 2010 by 39.2 percent, 86.6 percent, and 69.9 percent, respectively, again to reflect the weaker UK housing market.

It is keeping its 480 pence target price on the company.

'There is little avoiding how bleak things look', said Citigroup, pointing to plummeting house prices, a mortgage market which continues to cripple would-be borrowers, and persisting inflation concerns.

The broker said it is therefore lowering its assumptions to a 20 percent drop in prices and an almost 50 percent fall in volumes by the end of 2009, leading to about 70 percent cuts to its forecasts -- 90 percent lower than it was 12 months ago.

The impact of this is to put severe pressure on balance sheets and, as has been seen by recent market jitters, on covenants, said the broker, noting that how the banks react to this will prove key.

Citigroup said its work suggests that a 30 percent plus fall in house prices is being priced in, which essentially implies that there is little or no value to land.

The broker said that should this be the case, it thinks long-term investors will be circling.

The broker said it believes the market may be underplaying the sector's cash flow, and given the earnings volatility, it shifts its valuation focus to its Discounted Liquidation Values, which are in essence mini DCFs.

At break even, the sector should still generate cash over the next few years, and the analysis leaves the stocks looking attractive at current levels, said the broker.

[e-mail]

[sofa spud] 18/6/2008 17:07

Redrow seems to have found a role model.......... Barratts!

[ibuyland] 11/6/2008 23:14

Barratts releeased a statement at 3.30

[hi roller] 11/6/2008 22:27

tuffbet
same jump happnd at 3.30 with Bellway, Bovis and Persimmon,somebody Knows!