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Redrow Share Price (RDW)

Share Price Information for Redrow (RDW)

Share Price: 437.00Bid: 436.30Ask: 437.00Change: 0.00 (0.00%)No Movement on Redrow
Spread: 0.70Spread as %: 0.16%Open: 430.40High: 437.00Low: 427.50Yesterday’s Close: 437.00

Redrow Plc Ord 10P

Redrow is listed in the UK 250, UK 350
Redrow is part of the Domestic Goods sector

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Currency Issue Country Shares in Issue Market Capitalisation Market Size
GBX GB 369.80m £1,616.03m 3,000

52 Week High 504.50 52 Week High Date 10-SEP-2015
52 Week Low 254.50 52 Week Low Date 16-JAN-2015

# Trades Vol. Sold Vol. Bought PE Ratio Earnings Dividend Yield
1,037 192,589 237,123 9.820 44.50 4.00 0.92

Trade Prc

Trade Type:
Automatic trade at the close price

Trade Type:
Automatic trade at the close price

Trade Type:
Uncrossing Trade

*Buys and Sells are calculated on the difference between the trade price and the current mid price. As such, they can occasionally be incorrect.

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Directors Deals for Redrow (RDW)
Trade DateActionNotifierPriceCurrencyAmountHolding
17-Sep-15Notification of Holding
Trade Notifier Information for Redrow
Graham Cope held the position of Company Secretary at Redrow at the time of this trade.
 Graham Cope
13-May-15Exercise of option
Trade Notifier Information for Redrow
Barbara Richmond held the position of Group Finance Director at Redrow at the time of this trade.
 Barbara Richmond
Trade Notifier Information for Redrow
Barbara Richmond held the position of Group Finance Director at Redrow at the time of this trade.
 Barbara Richmond
View more Redrow directors dealings >>

Date/TimeAuthorSubjectShare PriceOpinion
Thu 16:54Josh95Redrow valuation430.00Strong Buy
I find it strange many brokers only rate Redrow as a hold. By the year ending June 2016 Redrow is likely to have increased its Net Asset Value to 278 pence, and brokers have pencilled in EPS of c. 51p. These financial metrics easily support a share price valuation of £5.75 by June 2016. That would place Redrow on a price to book multiple of 2x, the average multiple for the sector across a business cycle. In addition this would place Redrow on a price earnings multiple of just 575/51 = 11.3 which would not be considered in the least bit stretched. Therefore I place a fair value of £5.75 on Redrow shares for 7 months time. This is a potential 34% gain. I was very impressed by Redrow's recent trading statement and accordingly I have increased my position again here over the past two days. I see no reason for brokers to rate Redrow down as a mere hold, compared with Bovis and Crest which the majority rate as buys.

By 2017 Redrow will have increased its NAV per share to 327p. Assuming a trading multiple of 2x, that would yield a realistic price target for June 2017 of 327*2 = £6.54. The EPS for that year is likely to be c. 58p, yielding a pe multiple based on this price target of 654/58 = 11.2 for the year which again is still a conservative trading multiple.

By 2018 Redrow will have increased the NAV per share to 380p. Assuming the sector norm 2* NAV a sensible share price target for June 2018 would be 3.80*2 = £7.60. For 2018 Redrows target is a minimum of 62p EPS, and from the LTIP incentive plan we know the BODS are likely to achieve EPS of between 62p and 74p. Brokers have pencilled in 66p, which on our £7.50 price target would put Redrow trading on a very conservative multiple of 760/66 = 11.5x.

I think this gives a conservative view into sensible price targets for Redrow. If we achieve £7.60 by June 2018 that will pencil in a capital gain of 77% from today's share price, so in view of the above Redrow looks a terrfific buy at todays prices. On the same basis Bovis Homes could potentially achieve a capital return of above 100% if the BODS get their act together! Using the same analysis Crest Nicholson appears to offer similar value to Redrow but with MUCH higher dividends pencilled in, probably why brokers love crest so much.
Thu 13:512227RE: still hard to understand431.00Strong Buy
Redrow is likely to have almost 10% more outlets this year and the sales rate per outlet per week is up 5% on last year. The Average Selling Price of private reservations is up 18% mainly driven by better quality outlets coming on stream to replace lower priced sites.
Redrow is likely to produce much better results than expected IMO.
Thu 12:222227Redrow Strikes Gold For Second Year430.00Strong Buy
Redrow Strikes Gold For Second Year at What House? Awards
Commercial Property
Chris McColgan , 26th November 2015

FOR the second consecutive year, Redrow Homes has been named ‘best large housebuilder’ at a national ceremony widely regarded as the ‘Oscars’ of house building.

The homebuilder scooped the Gold title at the glittering What House? Awards ceremony at London’s Grosvenor House hotel on Friday (November 20).

Judges said:

“In this category it is important to look behind the numbers; for what is key at the volume end of the market is not just what and how they are building, but what the big developers are doing to promote the need for more homes, putting their names and reputations out there.

“Redrow once again led the field with initiatives throughout its business, backed by quality products, both traditional and contemporary, across England and Wales. It is strengthening its commitment to sustainability, continues at the forefront of industry training, and is revolutionising its customer service.”

Having been founded in North Wales as a small civil engineering business by chairman Steve Morgan in 1974, Redrow now builds over 4,000 homes each year at more than 100 locations across England and Wales. The company posted record financial results earlier this year with a turnover in excess of £1 billion for the very first time.

Placing Redrow ahead of Berkeley Homes in second place, and Barratt and CALA jointly in third, judges added:

“Redrow’s marketing continues to evolve and embrace online technology. Indeed, its Redrow TV channel includes a host of videos, highlighting not just the developments, but the way Redrow staff engage with the communities in which they build, enjoy and deliver.

“As for the financial numbers, they are record-breaking, as the company heads into its fifth decade, pushing boundaries and constantly enterprising.”

The company also won the bronze award for ‘best landscape design’ for its Lucas Green development in Chorley, Lancashire, where a restored and now Grade II listed World War II pillbox and gun mounting has just been unveiled as part of the public open space.

Redrow’s Group chief executive John Tutte said:

“It’s fantastic to win the best large housebuilder award once, but extra special to win it for a second year on the run. We’re striving to be the best in an industry with very tough competition.

“Our philosophy is to build the homes our customer really want to live in, deliver exceptional customer service, create communities that will stand the test of time, and ensure our business is a sustainable one. Our aim to be the home builder of choice for our customers is strengthened by independent awards such as this.”

Presented by actor, author and comedian David Walliams, the 34th WhatHouse? Awards ceremony broke its o
Wed 13:082227Still Very Cheap436.90Strong Buy
Despite performing best in the sector by rising around 60% over the year,Redrow still trades on multiples of less than 10. This is too cheap for arguably the best housebuilder in the sector.
Tue 21:01Josh95RE: still hard to understand427.40Strong Buy
Redrow trades on a lower PE ratio than sector peers because it pays a negligible dividend. This is part of its overall strategy though, as monies are instead channeled into growth. Redrow has targeted a minimum of 62p EPS by 2018, and to do with it will need to continue to increase volumes quite substantially. This means further investment in the landbank which is currently only 3.9 years long at current volumes. Significant investment is thus required in the landbank and so low dividends are paid. Whilst the dividend is low, generally the pe multiple will remain low relative to the sector. The big dividend payers have the highest pe multiples, ie tw, psn etc. When redrow ups the dividend I would expect a higher rating on a pe. Although this being said, still looks cheap now as do many builders. strong buy at these levels.
20 Nov '15mikelove1953ps441.50No Opinion
Rather than high sales it is perhaps very low purchases

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Redrow Plc Ord 10P home pageWebsite: Redrow Plc Ord 10P
Website Description: Redrow - Redrow Homes - UK New Home Builders and Property Developers

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