Wincanton Share Discussion Threads

[sphere25] 23/7/2020 11:17

425k just gone through at 185p. Should help to clear out the sellers mentioned yesterday at this level. There are only 124.5m shares in this company and volume is usually tiny in this company so a significant chunk.

Holding for the longer term on this one.

[volvo] 22/7/2020 19:49

FWIW...spoke to investor relations at Win today, they are super chipper at this share price and said 275-300p is more realistic unless we have further lockdowns etc which seems unlikely. Please dyor.

[jeff h] 22/7/2020 14:11

I will be happy with WIN selling off 1/2 the Ocado rating!!

[rivaldo] 22/7/2020 13:43

Comment from Liberum - they've raised their forecast substantially to £22m PBT, and anticipate those forecasts rising to around £30m PBT....



"Broker Liberum said Bloomberg has consensus expectations at £18.7 for annual underlying pre-tax profit, while it expects £22m.

"We anticipate consensus estimates rising, although perhaps not to beyond £30m profit before tax given potential concerns about further Covid-19 impacts later in the year."

[volvo] 22/7/2020 11:42

seller gone, we are off

[sphere25] 22/7/2020 11:16

"..current net debt remains significantly below the prior year position, primarily due to the deferral of payments."

This stock always had a lower rating due to the debt and pension deficit. Both had improved dramatically in recent times and it clearly allowed the stock to re-rate up to a high of £3.

Net debt at the prelims was £10.1m. Looking at previous statements, net debt was £19.3m as at 31st March 2019 and they mention being below the prior year position but excluding deferral of payments.

I guess much (on top of the outlook of course) of the re-rating then boils down to how large those deferrals are. Nonetheless, stock has been clobbered and the resilient nature of trading should have warranted a re-rating higher imo. Alot of stocks bounced around 50% mark off the lows regardless of fundamentals.

With the already derisory rating, we now have upgrades too which makes the risk balanced even more to the upside.

This stock is loitering at lows when others with nowhere near this level of performance have moved higher. Many have had the need to raise equity too and not many have upgraded forecasts either.

The market continues to hold a bearish stance with sellers in size currently at 184 and 185 but the rating here does look too cautious.

All imo

DYOR

[s34icknote] 22/7/2020 10:28

Hi net . You buying back in ?Drifted back again from owning high .Do wonder if an ii is selling ? But haven't seen any big trades yet ?Or does this just drift on lack of buying ?Either way wincanton will be here for a long time . And with little debt can afford the div again !!!!Sicknote

[petewy] 22/7/2020 10:24

I'm back in. As yet no IS sellers but I still don't share the optimism 185p is Ok for me if the divi comes back. This a great share it's the markets that are holding it back.

[volvo] 22/7/2020 10:22

Its a buy on that statement today alone, happy at 184p, first target 220p.

The combination of our strong new business performance, early cost intervention measures and the recovering economy mean that we expect our full-year underlying profit before tax to be SIGNIFICANTLY ahead of current market forecasts and not less than GBP30m

[edmundshaw] 22/7/2020 10:03

Hi rivaldo. Good to see you here. Good timing on your part!

[netcurtains] 22/7/2020 09:29

Very will timed s34icknote ...
Shows one good rule of investing is keep a very good eye on financial calendar.

[rivaldo] 22/7/2020 09:23

I've joined you lot here this morning. Good to see a number of familiar and respected investors already in.

WIN looks like a bargain at this price, with a very rosy outlook indeed.

Liberum have reiterated their Buy and 320p price target:

[paulof2] 22/7/2020 08:55

Great update here.

[edmundshaw] 22/7/2020 08:33

I'd guess underlying EPS 25p for the full year, but I suppose it could be better - barring a second wave. Even with a second wave, it will only affect this year, not future years, WIN is not under threat of extinction unlike some other businesses with depressed prices.

I should mention I am not unbiased. I have an overweight position here...

[mikedon1946] 22/7/2020 08:31

Divi should return soon!

More success round the corner, once the governments money goes into construction, Wincanton are there to surge ahead

Decisive management, great results through this crisis

[edmundshaw] 22/7/2020 08:30

I really don't understand the price here. Already the company is predicting a FY profit at least 2/3rds of last year's (assuing no second wave) and we are not 4 months into that year! Given the price was averaging 250p and, after Brexit and some excellent progress, went up over 300p, the very effective management and the new contracts, I cannot understand why we are still under £2.

[s34icknote] 22/7/2020 08:28

What do we think is the forecast eps ?Sicknote

[s34icknote] 22/7/2020 08:27

That was sheer luck !Sicknote

[molatovkid] 22/7/2020 08:18

Been busy moving my stash around and loading up with these.

Should be good to return to £3 regions.

[jeff h] 22/7/2020 08:09

Numis was only forecasting £15.5m profit so a near expected forecast doubling of profit expectations for this year and share price responding accordingly.

[qs99] 22/7/2020 08:01

good timing sicknote....great RNS

[s34icknote] 21/7/2020 16:43

Topped upSicknote

[mikedon1946] 20/7/2020 16:23

It defies logic that the share price of a British firm that is consistently being successful, does not rise, and rise substantially.

Other firms are reporting failure, Wincanton is reporting success, more good news with the AGM on Wednesday