Wynnstay Share Discussion Threads

[zangdook] 28/10/2020 08:52

With fingers crossed and touching lots of wood, I don't think this wobble is going to turn into a collapse like March. But then I still haven't understood why everything continued as normal from January to March and suddenly collapsed, so my opinion may not be worth a lot.

[creditcrunchies] 28/10/2020 08:41

last time when the FTSE crashed it went to 200p but it's holding quite well at the moment it depends when people start throwing in the towel on the other stocks in profit to shore up their portfolios

[creditcrunchies] 21/10/2020 12:20

possibly worth waiting for 250 again in time for the Jan 2021 dividend announcement

[podgyted] 26/8/2020 17:18

Decided it'll do the same as a few months back and sold to await the 200's - probably wrong as normal.

[bench2] 26/8/2020 17:07

5% pullback after the 40% rise from 250p to 350p . A 10% pullback will take us to 315p , and at 300p we would still be in an uptrend .

[bench2] 18/8/2020 16:24

Wow back to old late May 350p high

[bench2] 05/8/2020 14:35

329p bid with almost daily announcements of institutions crossing the threshold as they continue to accumulate . Who said value was dead ?

[zoolook] 21/7/2020 12:17

Where’s Pugugly?

[bench2] 21/7/2020 12:12

Still creeping better , 325p bid , approaching the late April peak , I am tempted to shave a few more off my holding

[podgyted] 15/7/2020 14:01

Detailed positive article in Stocko today on WYN. Roland Head bought it for his fantasy SIF portfolio and his own real one.

Published at 10:32 - might have created the rise today.

[games] 15/7/2020 07:48

From carr trading update.

The Agriculture division is currently trading ahead of the Board's expectations. In the UK, farmers are maintaining normal livestock operations and a marginally higher demand for feeds, supplements and fuels has enhanced revenues.

[elsa7878] 02/7/2020 11:59

Could sell 30,000 at 300 when it was 295/305 spread, so clearly a buyer around.
Rain helping farmers too.

[bench2] 02/7/2020 11:55

Buyers having to pay 305p for stock today ... a tight quote as 300p bid if you are a seller .

[elsa7878] 01/7/2020 15:51

Net assets 480p, shareprice 300p. Crazy.

[bench2] 01/7/2020 12:33

A move through 300p on decent volume in a dull market will set deep value pulses racing . Outside the ISA I switched some NWF into WYN for the wife yesterday paying 295p for WYN and selling NWF at 192p , I will report back in 6 months time whether this was sensible .

[bench2] 29/6/2020 21:46

Edging up nicely , I let a smidgen go at 283p today , mainly the stock I paid 250p for on 17 June .

[mw8156] 24/6/2020 14:28

surprised to hear Paul Scott is positive-he has always criticised these Carr, nwf, wynn for being huge turnover low margin businesses..busy fools etc

[cjohn] 24/6/2020 14:17

PS Very good figures from WYN. Still trading at close to two thirds tangible book value.

The macro picture IS important. Of course, there could be a serious second wave in the UK, US etc - or not. The correct response to uncertainty is to insist on downside protection for any share; snap up cheap assets and sell expensive ones.

No one can seriously argue that WYN is "expensive". On various leading indicators of value, it's cheap to very cheap.

Plus the business has so far been more resilient than most to COVID disruption.

[cjohn] 24/6/2020 14:16

Thorpematt: "IFRS16. I hate IFRS16 it's stupid."

The best thing about IFRS16 is that it makes lease liabilities much more visible. I think for some retailers adding the lease figures to debt could act aa a useful warning to potential investors. The real level of liabilities -and risk - is more in your face.

The negative is that it gives an (initially) misleading impression about debt. But really you just subtract the lease figures to get the "bank" debt. No more than a slight nuisance, surely?

[itsnotmeitsy0u] 24/6/2020 14:02

Well out at 270p - was only in for a short trade.10% in a few days...gla

[freemo7] 24/6/2020 13:06

Positive little write up from Paul Scott on Stockopedia (Sorry, I won't be posting it)

[thorpematt] 24/6/2020 09:41

Remarkably stable set of figures.
Clearly disruption to the business, but no noticeable disruption to the top and bottom lines (to end of April at least). The lack of furlough is an indicator of course.

Underlying commparisons
Non-recurring items are small. We're back to Graham though, (warning paraphrase about to occur): "exceptionals aren't exceptional if they keep on happenning".

IFRS16
I hate IFRS16 it's stupid. As the above however there is nothing to see here.

BREXIT
I noted yesterday that the EU were moaning that UK farmers could get subsidies not open to their own (and that it was a negotiating stumbling block). I have an answer for them...but it shouldn't be printed here.

Outlook is not very positve.
Which it hasn't been for a while - and thus we have to judge on the lower end of expectations. On the eplus side this business is clearly one of the most-resilient on the index through COIVD and to be able to produce results like these and pay a high divi speaks volumes. In brighter cpnditions, additional upside could follow.

Trades
I noted for the 2 days prior to results that nearly all executions were on the high side of the spread. I was able to buy at an average of 249, others bought a little lower but yesterday theses were all buy side trades.

Valuation
I am now a little more convinced that WYN has a small growth profile in underlying earnings - although it's steady and affected by uncertainties outside of their control (weather). As such a high PER might not be aproporiate. Having said that such resiliance in earnings and a secure divi when most of the index has cut, has to have a premium. I Cannot see why this would not re-rate to pre COVID levels in the near-term.

One note on the BB
It's started to get a little busy. Not all of the posters are adding value though. The filter button is possibly the best feature of ADVFN.