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Sorry to burst your bubble sharetrooper, but you are wrong. UK properties are not coming down anytime soon. There is a structural deficit of houses in the UK with demand increasing faster than supply can keep up. This coupled together with rising real incomes and the fact that interest rates will remain lower for longer will only ensure house prices continue to rise as already widely foretasted, and those buying into builders at these levels will be handsomely rewarded over the coming months and years. Buy now before you regret it!
dont mess about asking WTF get out now and sit in cash! BTW sell your home NOW and sit in cash! Cash will be king of the castle 2016-2017
dont mess about asking WTF get out now and sit in cash! BTW sell your home NOW and sit in cash! Cash will be king of the castle 2016-2017
coming get OUT NOW! please dont make me shout again but the fact is there is a property bubble of gargantuan proportions and the only ones who believe it are those that dont own a home dont want to own a home and will never own a home! Thats the perfect recipe for a crash!!!!
I think many analysts have lost confidence in bvs BoD and only sparkling actual financials and strong forward guidance will change that. Until then they carry the underperform tag, sadly.
It appears that Bovis continues to be hit hard with any falls with in this sector. We are now looking at a PE c9 ( very undemanding) with an excellent dividend that beats the income of any thing on the high Street. The only product that can beat this share for income out side the sector is" Junk Bonds" which one does not go near. I am sure that income funds will soon realise the excellent potential for their sector. Bovis is oversold, just look at the shares traded today compared to other builders which, unfortunately, is becoming the norm. The stock market is presently pessimistic which is becoming a gold mine for the "shorters" and, until oil steadies and China becomes reassuring the share movements we are seeing will be the every day picture
Is going on here?!
Margins and ROCE improved with more to come - this stock looks best pick in housebuilders IMO. Apologies to Dako for earlier post, jpmorgan did indeed keep 'Overweight' not 'Underweight'.
expect a decent dividend on the back of those results ... all bodes well for 1200+ in 12-18 months ... on a sector average valuation would be there already
A good update for a change! Managed to buy some more at £9.15 yesterday too, was a strange drop!
Cuts from 1300 to 1200 but remains OVERWEIGHT; Morgan still pushing Bovis. Does not explain the large instant drop around 0830 unless a RNS comes out after the Market closes.
Might be due to broker : Jpmorgan reduced target to 1200 from 1300 keeping underweight. But lets face it, last novembers rns about margins and planning delays resulted in 9% drop which is enough to make anyone wary of tomorrow's rns.
The SP was dropping in line with the rest of the buIlders when around 0830 it suddenly dropped 40 points to 903. The Market SP fall this morning was like the Nov trading update reaction regarding margins. Has someone seen something as the full year trading update is due tomorrow or did a fund put a large sell instruction in? If this SP is maintained with the results expected, BVS will have a PE under 10 (very undemanding)and a book value c1.3 which makes this builder very undervalued for the sector.
The trading update last Nov was positive except for the comment regarding the margins which upset the market. Overall, in my opinion, the report should be good with this coming year having further properties for sale at the higher margins which were delayed this year by the planning offices.
Any thoughts whether this will be positive or negative? SP going in right direction today.
Excellent SP movement today. I wonder if they will try and rectify nov update with the Jan report?
More buys than sells, if classification right, but 3% off. More games...
what is going on .. more up and down that a tarts draws !
I wonder which fund is selling this house builder today? Another bit of City knowledge before PI's
Another (NED) Director buy! Interesting.. not very large but bodes well none the less. Normal Directors obviously in a closed dealing period right now.. Sain- still think think the market is waiting to see evidence of Ritchie's ability to better manage the business before this can really take off- his poor management is holding it back temporarily. Current forecasted NAV for the period ending Dec 2015 is 725p, so we are currently trading on a multiple of just 1.34 times, well below the sector average but a fairish valuation until Ritchie proves he can deliver improvements in ROCE and margins - hopefully see some evidence at the half year 2016. Planning delays should have ultimately been better managed, all builders have them as we know but some pull in higher margined units from elsewhere. Not impressed with Ritchie, but still like the strategy here and happy to hold tight and collect the 4% yield for the next few years at which point I fully expect the trading discount to sector peers NAV to have been eliminated.
.. or bank profits to window address 2015 fund performance ahead of possible declines when the Fed increases rates next week? Keep cash, buy back in January I hope!!
It appears that heavy selling of a house builder a day seems to be happening. Yesterday was Crest today BVS. I wonder which fund has decided to reduce their holding in the sector?
Fair play to you -you have been bang on the money here. Hows the team faring?
Good to see the dividend was reinvested right down at the rock bottom price of £8.72.
by Daniel Grote on Nov 30, 2015 at 05:00 Citywire Bovis a bargain after share price falls Jefferies believes shares in Bovis Homes (BVS) could be a bargain, following a 7.4% slump after 19 November’s trading update Analyst Anthony Codling retained his ‘buy’ rating on the stock and £13.98 target price on the shares, which were trading at 923.5p on Friday. ‘Bovis is one of the few growth stocks in the UK-listed house building sector; we estimate that volumes will grow by c.25% and profits by around 65% in the three years ending 2017,’ he said. ‘The group is focused on the higher-growth housing markets in the south of the UK, with limited exposure to the more volatile London market. Valuation lags the sector by around 33% on a [price-to-book] basis, which in our view, provides an attractive entry point for a stock supplying a market with a fundamental supply and demand imbalance. Codling added that Bovis’ share price volatility was at odds with the ‘glacial’ pace of the UK housing market. ‘When Bovis updated the markets last Thursday, we were not building enough houses. Today, we are not building enough houses, and we suspect that next week, next year and no doubt in the next parliament, we will not be building enough houses.’