Wickes Share Discussion Threads

[philanderer] 30/8/2023 08:37

Read across this morning..

(Sharecast News) - JPMorgan Cazenove trimmed its price target on shares of B&Q owner Kingfisher on Wednesday and placed them on 'negative catalyst watch' ahead of first-half results next month

[disc0dave45] 21/8/2023 13:35

Other sites I've just looked at do however indicate that eps FY24 will be circa 15.8p which looks better.Anybody got house broker forecasts?

[disc0dave45] 21/8/2023 13:28

Given they won't be capitalising dev spend on IT, I make 13.5p eps for this year (PE 9.7x). Stocko has a 36% reduction in eps for FY24, so possibly only 8.6p eps giving a PE of 15.2x which given the macros seems about right to me, am I missing something?.

[philanderer] 21/8/2023 11:27

Maybe sentiment hit by CRST profit warning ?

[philanderer] 11/8/2023 14:15

WIX the only blue one out of my twenty seven today.

[philanderer] 09/8/2023 14:05

Called in my local Wickes yesterday for some wood and a roll of felt . Very busy.

Could be with the housing market stalling people are once again returning to DIY home improvements ?

[dudishes] 05/8/2023 17:21

jubberjim,

In answer to your question yes.

RNS's 28/7 & 4/8 refer.

[jubberjim] 04/8/2023 17:16

Has anyone been monitoring the buy backs

Chickensh t

Left my sell at 140

Dic sh t market very few players even less interest will avoid in future

Mind much like rest of market

Nice dividend but very little interest

By the way pulled my offer will wait and hit

Good luck

[dudishes] 04/8/2023 14:26

Cheers Waldron.

Excluding the divi, we are almost break even!

[philanderer] 04/8/2023 13:35

Good run over the last couple of weeks .

[waldron] 04/8/2023 10:03

Wickes maintains full year outlook as DIY trend improves

By
Georgia Wright -
July 25, 2023


Wickes sees its half year profits exceed expectations after it benefited from a boom in Brits looking to improve their homes during Covid-19.

Wickes has posted an improved second-quarter performance with like-for-like sales up 3% compared with a 1.8% fall for the first quarter, as it maintained its full-year guidance.

The home-improvement retailer also has launched a £25m share buyback programme to return “surplus cash” to shareholders, based on its strong balance sheet and business performance.

Chief executive David Wood said its strong performance was “underpinned by further momentum in Trade, as local traders continue to turn to Wickes to save them time and money, an improving trend in DIY, and a good performance in Do-It-For-Me.”


Core life-for-likes sales were ahead by 2.3% in the second quarter, with categories such as decorative and construction performing well and outdoor projects benefiting from a normalisation of weather patterns.

The business said click and collect sales also “performed particularly well”, growing by 5.6%, reflecting the service improvements made to its proposition.

Wood added: “As we continue to make progress across our strategic growth drivers, we are confident in the Group’s prospects for both the remainder of this year and the longer term.”

Earlier this month the retailer faced a boycott after its chief operating officer Fraser Longden said shoppers with trans-critical views are “bigots” who “are not welcome in our stores”.

Speaking at Pink News’ Trans Summit, Fraser Longden said: “I don’t think I’m ever going to change some of the bigots out there’s minds, I’m never going to win that argument with them.”

He claimed most of the population was “sort of slightly ignorant but mostly kind” when responding to a question on last year’s attempt of a boycott by campaigners surrounding Wickes’ Brighton Pride float.

Longden’s comments caused an angry backlash online, with #boycottWickes trending on Twitter.


Retail Gazette‘s free daily email newsletter

[ccnp] 04/8/2023 09:24

Buybacks rank just behind publishing 'a history of the company' as meaning the management has got f all idea what to do and needs replacing.

[waldron] 04/8/2023 09:03

I see mention was made of BUYBACKS

I AM NOT A FAN AS FEEL THEY ONLY GIVE TEMPORARY SUPPORT TO THE SHARE PRICE

[waldron] 04/8/2023 08:39

Cboe Europe - 04:34:56 2023-08-04 am EDT


136.85 GBX -0.11%

needs to break resistance so as to allow a trend up

[waldron] 04/8/2023 08:05

Analysts' Consensus

Mean consensus
BUY


Number of Analysts
7


Last Close Price
1.370GBP


Average target price
1.971GBP
Spread / Average Target
+43.90%


High Price Target
3.600GBP
Spread / Highest target
+162.77%



Low Price Target
1.400GBP
Spread / Lowest Target
+2.19%

[waldron] 04/8/2023 07:35

I see iterim divi due


Declaration date 14 Sep 2023 (Thu)

Ex-div date 28 Sep 2023 (Thu)

Pay date 03 Nov 2023 (Fri)

[waldron] 04/8/2023 07:23

Upcoming events on Wickes Group plc

2023-September-14 Q2 2023 Earnings Release (Projected)

[waldron] 04/8/2023 07:19

It seems that most analysts think the only way is up and that be substantially apparently

[dudishes] 04/8/2023 07:09

G'day,

Bought @142, mainly for retained divi (suspect forced/persuaded).

Divi somewhat defeats my posn behind the current price.

I don't follow forecasters, do my own research.

My target would be 175ish before ye.

Covid kicked them, but I see recovery.

Good luck

[jubberjim] 04/8/2023 05:23

Just about breaking even with these but am little concerned by the drop off in profits mentioned by the likes of marshalls and other builders merchants suppliers
Hopefully the WOKE narrative peddled by the "Right On" director is given no countenance but reading that bud light sales took a hit in the states gives me additional cause for concern.

Will stay in for now but ex dividend don t have that same confidence from earlier.

[philanderer] 26/7/2023 13:26

Liberum: Expect more buybacks from strengthening Wickes


Trading has improved at Wickes (WIX) and Liberum says share buybacks are now going to be a ‘recurring theme’.

Analyst Wayne Brown reiterated his ‘buy’ recommendation and target price of 360p on the Citywire Elite Companies + rated stock, which jumped 6.6%, or 8.4p, to 135.4p yesterday.

He said trading in the second quarter has ‘improved in the core business, inflation is lower and do-it-for-me remains steady’ although DIY is negative but improving.

‘That’s a pretty good outturn having delivered marginally positive like-for-like sales after a tougher first quarter,’ said Brown.

‘But all focus should be on cashflow and the updated capital allocation policy. Share buybacks are now going to be a recurring theme – over and above a £50m year-end net cash position. Dividend per share is being held at 10.9p for now, but a target range of 1.5-2.5x cover provides clarity.’

Brown said that if ‘one wanted a sign of confidence, there it is’.

‘Overall, a good update and the valuation looks very compelling,’ he concluded.


citywire.com

[creditcrunchies] 25/7/2023 17:33

Paul on stocko gives this a thumbs up well placed when conditions improve he said loose lips just needs to stfu in future

[philanderer] 25/7/2023 09:04

Strong update. Happy to hold.