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I’m no expert, but I think it was something to do with the strong run up prior to results.
The general consensus prior to results was really positive, and the SP followed than enthusiasm.
I see the SP hit £5.80 before today’s drop, I don’t know what the volumes looked like but possibly significant selling to take profit?
Pull back to the 1 month view and I like the direction and momentum.
FTSE went on massive run and we’re up 0.5% after a brilliant trading update and consistent re rates - just don’t get it?
UBS RAISES REDROW PRICE TARGET TO 885 (750) PENCE - 'BUY
When depression swaps to world wide optimism from the spring, this will soar. Down today on Persimmon news as someone points out below.
All looking good for the next 5 years, as long as the global economy doesn't fall down a rabbit hole.
Beggars belief that the share price is down this morning when analysts expectations have been beaten. Good job I'm not here for one day gains.
Built up a decent holding over the last few months. Have made money here in the past as it seems Redrow tends to be oversold when the market goes "risk off". Looking at the long term history of returns, they are actually quite resilient. Of course there are short term hits from time to time but its the long term that matters when you are using a fundamental discounted cash flow valuation. The long term is even more important now that interest rates are so low so discount factors should be reduced.
41p EPS in just 6 months. 6p divi for H1 alone. Makes 560p share price look absurd.
My only concerns are
(i) recent reliance on help to buy which is ending - but Redrow was successful before help to buy and there is a long term shortage of housing stock so this should be one of those "short term hits" if it is a hit.
(ii) strategy to stop developing in London. Sure we are finding success outside London so it makes sense to capitalise on that, but I would have preferred them to aim higher and try to do both.
BARCLAYS RAISES REDROW PRICE TARGET TO 700 (645) PENCE - 'OVERWEIGHT'
Just bought another £8k - solid investment at this price imv.
Great results always end up with folk taking a quick profit. Do not fear the results speak for themselves. This will bounce back over the next week as folk realise what a divi paying bargain it is. I just topped up with another £10K as longer term we all know 700p will not be too far away.
Good luck and stay safe folks.
Read Persimmon statement - thats whats hitting HB pricing
I know it’s early but I thought this would be flying after that rns... the market is so irrational these days (or even more so)
Correction Divi is 6p......Ex div day 26th Feb to be paid 6th April
Rex.........Divi 6p, ex divi day 25th Feb to be paid in April.
I really like the ethos behind this business. Can any see when the dividend is paid? I don’t suppose they also give us the one we missed?!
Plenty of cash and dividend reinstated
great rns
They are some solid results!
Hi folks
What are we expecting out on Wednesday please?
I was only expecting Barrett results out on Thursday this week?
Thanks
Fingers crossed no little problems come out of the woodwork, I’d enjoy seeing RDW fly tomorrow ??
Hi MarquessR,
Ulvr was down due to restructuring plans and gsk because of spinning off consumer division and doubts about dividend!
The general sentiment on this board seems to be positive. High probability of dividend being re-instated and enthusiastic buying/ordering so far this year.
There is the possibility that this latest lockdown has impacted sales, similar effects demonstrated by other stocks that posted FY results last week (ULVR / GSK) and the markets did not treat them kindly. That being said, i'm guessing the Christmas / New Year period is normally a quiet one for house builders, so hopefully any impact will be limited by the time of year.
I think it will be interesting to see what 2021 brings, eyes on the budget in March, what steps will be taken to start repaying the COVID debt. That being said, the lockdown effect will probably continue to drive people to desire their own space, increased house prices, even if further growth stagnates, is likely to restrict the number of people who can buy without the assistance of a help to buy scheme.
Based on possible strong SP growth from positive results, I am strongly considering my exit position.
This is not advice, just the opinion of a stranger on the internet. Do your own research.
Hi everyone,
What do you think will be in the results,will there be any warnings about negative points like the impact of pandemic on the impending yearlies like with psn on 13th january that could push the sp down as with psn?
Thanks
"Results due on 10 February will be solid and the dividend will be reinstated, the bank said. JP Morgan predicted revenue up 21% to £1.05bn, pretax profit of £170m and a gross margin of almost 21%."
Redrow and Barratt prices were neck and neck at the beginning of 2020 and their results for the year ending June 2020 were very similar. In the current year rdw is likelt to produce higher earnings per share than bdev imo. Redrows shares are likely to catch up or even overtake Barratt share price shortly imo.
The company underperformed its peers in 2020 and so far in 2021 leaving it trading at a 30% discount by price to tangible net asset value, JP Morgan said. This is despite a return profile similar to the rest of the sector.
Results due on 10 February will be solid and the dividend will be reinstated, the bank said. JP Morgan predicted revenue up 21% to £1.05bn, pretax profit of £170m and a gross margin of almost 21%.
JP Morgan analyst Rajesh Patki forecast an interim dividend of 5p a share. He kept his ‘overweight’ rating on the shares with a price target of 600p – 12% more than the price before Patki published his note.
“We expect H1 results on Feb 10 to be a positive catalyst (solid results with reinstatement of dividend), resulting in narrowing gap vs. the sector,” Patki wrote in the note to clients.