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Sharp axe is coming down
Pretty much as was expected, slight increase in dividend, lets see what the markets think...
I thought the trading update this morning was fairly solid. This is so undervalued. 1 billion in sales and 250m EBITA, this is not any old retailer this is Doc Martens!
RBC cuts Dr Martens to 'sector perform' (previously outperform) - price target 180p (previously 230p)
This share is up about 15% since the mid April trading update which was to my reading less than inspiring, but was obviously liked by the markets, its a pity this board is so quiet, It would be nice to get others ideas on how well they think the results might be.
Full year results are out on June 1st.
Don't think we will know about any potential dividend till then.
Any guess on next dividend date and amount…
We reached the 170p target rather quick from my comment last week. Think if markets stay good, that's the inflation narrative then this should target 1.90 ...
Barclays raises Dr Martens price target to 210 (195) pence - 'overweight'
Bank of America cuts Dr Martens price target to 210 (215) pence - 'buy'
Markets are forward looking and the main interest from the update will have been around future prospects. With the LA DC now under control and more favourable tailwinds in most markets this looks a good recovery prospect. The investor call was handled well and I sensed from the tone of the questioning that there we no red flags to drag this down. Whilst the first broker update has been lowered slightly it is still comfortably over the £2 mark.
Share price is up about 15% since last weeks trading update, which wasn't great, in fact I was pleased at the time the share price held firm after an initial spike down on opening and quick rebound.
Is there some good news coming???
Yesterdays rise was a welcome surprise to me too, after reading the RNS I thought we might be lucky to see the share price hold fast.
still paying a dividend of about 4.5% per annum, next Ex divi date is the 8th of June for next payment in mid August..
....given all the doom and gloom I have been reading about DM over the last few months - are they still paying a div?
Let’s see what the next round of broker recommendations bring.
I expect this to be back over £2 in the next 12 months.
Agree with mystic. SP has been a bit doom and gloom recently and while the RNS is not stratosphere breaking it does give hope at the end of the tunnel.
I think this will finish the day higher than where it started cos Mr Market is forward looking and wants to believe that inflation is falling, economy won't go into recession and company specific issues are resolvable, remember this was easy £2 before warehouse issues,,, will settle at 1.40-1.70 range imho
Don’t agree with the rudderless comment.
I’ve just been on the investor call - and have done many of these before. These 2 are well across their brief giving clear and concise answers and information to all the analyst questions.
I expect this to push on from here over the next few months now.
The RNS today whilst being somewhat disappointing does suggest that the distribution issues are being resolved albeit slowly and at a higher cost than expected, pleased to see the share price holding firm at the open.
Well missed it bidding 128 @ premarket. Got to stop being so tight
Its just dropped back into auction again buy surprisingly (to me anyway) price appears to be holding
The reason why the SP has hovered sideways for a bit after the last update was because Mr Market was trying to evaluate how much the shares were worth. seems to be a bit of a tussle going on but think the SP is at the right level now and could even see a slight increase relative to the issued forecast in today's update.
What a hames !
Re-entering on weakness, perhaps. Jury is out.
Here's hoping for a positive update but all the retailers inc JDSports are down today, mr market fretting about stuff, no FOMO with today SP fall so not sure, if bad perhaps priced in, else if better than expected could rocket, everything crossed, GLA
Share price up 5% this morning, I think the trading update might be pretty good..topped up a bit at 143p
Not long to go.
They suugested their best people working on a resolution so any glimmer of issues being resolved should see the SP start to recover.
Trading update on 14th April - hopefully problems solved and recovery starting near term.
Date Event Calendar downloads
14 April 2023 FY23 Q4 Update
01 June 2023 FY23 Full Year Results