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Berenberg has reiterated its 'buy' rating on Dunelm after the homewares retailer's strong annual results this week, saying that its market outperformance should continue.
The broker raised its target price from 1,340p to 1,370p after the results, which showed a 5.5% rise in sales to £1.64bn while earnings per share fell 8.6% to 75p - considerably better than a lot of the wider sector.
Think the shares have been marked down in the end of season sale!
Is there a pattern of late of SP falls on results day and a climb the day after ? Time will tell
Expecting 5% rise today as a consequence.
Just learned that DNLM's final results will be on Wednesday 20 September. Fingers and toes crossed, let's hope that it will be good. GLA
According to DividendMax, DNLM should have announced the final dividend on September 13, but they didn't. Maybe tomorrow, perhaps? Last year was 26p. I am expecting 30p this time.
Deutsch Bank today cuts DNLM price target from £13.13 to £13.10! Why bother?
Yes SP up
....but is it good enough to push the SP back up?
Mike
Thanks for your response
NikLol
Niklol,
You ask:-
"Please may I ask where one finds these brokers views so quickly?"
A quick way is just to press the "DNLM Share News" icon near the top of the page, and read the new media articles.
What you won't get from those, though, is the broker's / analyst's detailed analysis leading to their recommendation - you'd have to pay for that.
What needs to be borne in mind though, is the context of the current share price in relation to their "target price". If their recommendation was "Sell" with a target price of £10, and the current market price was only £6, I might give serious consideration to buying!
I hope that helps, and sorry if I'm just stating the obvious.
Mike.
Wish I understood.
Was this today?
Please may I ask where one finds these brokers views so quickly?
Thanks
RBC cuts Dunelm to 'underperform' ('sector perform') - price target 1,000 (1,300) pence
Looking at Stocko, it seems to be fairly priced at the moment.. Growth is steady and has slowed, and the move into furniture will provide new revenue streams in future. I’m confident that they will execute this conservatively to ensure no stranded inventory or loss in margins.
A well run company, with a circa 5% divvy (good history of specials) and potential to see a re-rating in the future.
Deutsche Bank says "buy". Target price is only 1313p. Current sp is already 1146, just 15% upside, what a joke!
20 April 2023
Dunelm Group plc
Third quarter trading update
Strong trading with expectations unchanged
That was a decent day today.bis that dividends being reinvested or something else ? 2.34% up
Payment 11th April.
Peel Hunt today has stated they see more upside than downside risk. Also that Dunelm's first half profit was stronger than expected & their medium-term growth prospects remain compelling. BUY with a target of £13-75.
Now I say also buy for their 15p dividend plus their special dividend of 40p too. Both are going ex div on 17th March.
Reuters) - British homeware retailer Dunelm Group Plc (LON:DNLM) reported a lower half-year profit on Wednesday as inflationary pressures and a cost-of-living crisis in the UK hurt its margins.
Still, the company declared a special dividend of 40 pence per share after sales in the six-month period ended Dec. 31 rose 5%.
Households in Britain will likley tighten their belts this year as prices of everything continue to rise, leaving customers to shift in what they buy and where they buy from.
Dunelm, which runs more than 179 stores across the UK and a digital platform, still expects its full-year profit to beat market forecast of 176 million pounds ($213.07 million), but warned that the consumer outlook remains unpredictable.
"While forecasts remain unchanged given consumer uncertainty, we see more upside than downside risk," analysts at Peel Hunt said in a note.
Gross margin for the period was down by 170 basis points.
The company, which sells furnishings ranging from cushions and bedding to kitchen equipment, said profit before tax was down about 17% for the half year at 117.4 million pounds from year-ago levels.
Hopefully!
RNS and special divi should lift sp today and beyond imv.
'' Analysts at Berenberg raised their target price on retailer Dunelm from 1,130.0p to 1,240.0p on Tuesday, stating the group's numbers "increasingly well underpinned".
"We believe that Dunelm can continue to provide additional shareholder returns, underpinning a total dividend yield of 6.5%. While not our base-case forecast, we believe a special dividend could be declared as early as H1 results on 15 February," concluded Berenberg.''
'UK retail sales fell unexpectedly last month, capping the worst year on record after a cost-of-living squeeze and strikes rattled the industry.
The volume of goods purchased in shops and online dropped 1% in December after a decline of 0.5% the month before, the Office for National Statistics said Friday. Economists had expected a gain of 0.5%.'
This just highlights how good Dunelm are in growing their income with such a backdrop.
(Sharecast News) - Homewares retailer Dunelm said it expected annual profits to be above expectations as consumers sought value for money amid the cost of living crisis.
The company on Thursday said second-quarter sales were up 18% year on year, with customers flocking to buy items such as heated indoor airers to mitigate soaring energy costs.
Pre-tax profits are now forecast to be above a current company-compiled consensus average of analysts' expectations of £172m, with a range of £131m-186m.
"We saw growth both in stores and online, with digital sales making up 35% of total sales in the quarter, 2ppts higher than the same period last year. Digital sales growth was particularly strong in the late Autumn and run-up to Christmas," the company said.