Watkin Jones Share Discussion Threads

[quepassa] 22/5/2018 10:12

Today. Following WJG's results:

Equity Development put out a (non-independent) Valuation of 230p per share.

Peel Hunt issue Broker Note with a REITERATE BUY recommendation and INCREASE their PRICE TARGET (from 230p) to 240p.


Whilst I applaud and concur with their bullishness, personally I think that they have both SIGNIFICANTLY UNDERVALUED the share price potential of WJG.


It is clear that WJG are now rightly and wholeheartedly embracing BTR .

Combined with an ongoing and surging demand for modernised and incremental student accommodation, this dual-headed strategy will jointly put a rocket under this company and its share price.


I personally see the share price touching 300p within 6-12 months and significantly higher (400-500p) within 24-36 months.

Well done to WJG on another cracking set of results and thanks for a hefty increase in dividend.

The very positive Outlook is music to my ears.


ALL IMO. DYOR.
QP

[its the oxman] 22/5/2018 10:09

Positive outlook, good results, surprised these aren't in positive territory.

[rivaldo] 22/5/2018 10:00

Peel Hunt have increased their price target to 240p (from 230p) and say Buy:

[3rd eye] 22/5/2018 09:34

WJG Watkin Jones....................Broker Note.

hxxps://www.equitydevelopment.co.uk/edreader/?ltkn=[ID]&d=%3D%3DwMyQjM …

[edmonda] 22/5/2018 09:26

Speed writing - full ED note and updated valuation freely available here:

[jonwig] 22/5/2018 09:05

Equity Development have already issued a research note: "Onwards and Upwards". TP 230p.

They can't have written all 13 pages in the last two hours!

[santangello] 22/5/2018 08:14

All reads tidy and promising.The 12.3% dividend hike is great news for income seekers to boot !

[jonwig] 22/5/2018 08:07

From the BTR section:

Following an initial marketing exercise for the Group's scheme in Sutton, keen expressions of interest have been received from several parties. However, it has not yet been possible to progress this interest further pending a satisfactory conclusion to discussions with the Greater London Authority and the London Borough of Sutton as to the level of affordable housing provision for the scheme. The Sutton scheme is one of the first to be negotiated in London since the Affordable Housing and Viability Supplementary Planning Guidance was issued by the Mayor of London in August 2017 and this is providing some initial practical application difficulties which have yet to be resolved.

It looks as though this scheme was granted planning permission before 31 March 2017, so the Mayor's directive was issued after plans and budget. From what I can see, their BTR properties are pretty well-appointed and it might be too late to change specifications.

[rivaldo] 22/5/2018 07:42

Looks good to me, with H1 basic EPS up 12% to 7.53p - and the cash pile up to over £38m - plus much confidence in the outlook.

The creation of the new vehicle - with possibly a separate listing - to acquire the BTR properties is intriguing and may excite the market.

[hawaly] 22/5/2018 07:38

Half Year Results

[adelwire2] 21/5/2018 08:07

Nice start

[santangello] 20/5/2018 08:48

Nice Bullish mention here :



Double nice for me (and notable others here), holding both gems WJG and (the uptrending fast) XLM :)

[hawaly] 19/5/2018 10:53

Outsider to run 200-year-old family business

[cordwainer] 18/5/2018 15:49

Wondering if R.Simpson will end up bringing a change of strategy with him such as more property management, land ownership etc ? I like the current lower-risk approach.

[2vdm] 18/5/2018 13:07

I'm a bit surprised that the share price has stayed a little higher, given both RNSs this morning. Hopefully we will get more solid news in a couple of weeks and get well above the 200p mark

[alphabeta4] 18/5/2018 11:08

I find it sometimes nice to see how the leaving company reports the directorate change to help get a full picture. It looks like he has a restriction on how quick can leave hence the January start date. I also note that Unite has quadrupled their share price in the 6 years he has been in his most recent post.

[melody9999] 18/5/2018 08:29

great news.topped up this morning at 208p.

[jockthescot] 18/5/2018 08:08

Agree. First class appointment. I’ve met him and he’s a well respected class act.

[quepassa] 18/5/2018 08:07

1456 refers....


Looks like a fantastic hire.

Great experience in the same sector.

Ex-Unite, new CEO Richard Simpson fits the bill perfectly.

Whilst sad to see MWJ leave, this new hire is excellent news for the prospects of the Company and the share price.

Well done to The Board for attracting such a top-notch new CEO.



Onwards and upwards.


And what a stunning BTR scheme announced today with M&G.


ALL IMO. DYOR.
QP

[2vdm] 18/5/2018 07:57

Excellent news and well done to WJG for getting such an experienced man to take over as CEO. I agree with other comments here that it is reassuring that MWJ will help with an orderly transition. Also excellent news re the 68.5m buil contract.

[tightfist] 18/5/2018 07:29

The CEO news release is equally welcome. The new appointee is a very relevant and experienced industry (ex-Unite) player. A carefully-worded announcement too which reflects well the concerns about MW-J standing aside.

[glaws2] 18/5/2018 07:20

The second bit of news is very reassuring given the concerns that they were taking the development risk on the bulk of their BTR work.

[rivaldo] 18/5/2018 07:16

Two pieces of good news today....

- the new CEO is an impressive appointment from the Unite Group. Good to see MWJ working closely with him for the foreseeable future
- and there's a new, large high spec BTR scheme to be built in Reading, importantly to be development funded by large partners to the tune of £68.5m. And it will start construction immediately.

The tone of the BTR update indicates more opportunities coming soon in a similar vein.

[jonwig] 16/5/2018 16:15

@ Clausentum - I have H1 pencilled in for next Tuesday, 22nd.

[clausentum] 16/5/2018 16:03

H1 results were 1st June last year, so I am looking forward to some more good news in a couple of weeks!