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Share price looking for 800p soon as is now on the rise again after the afternoon pause
Taverham
RE: Master, any predictions on where this will level out?
I suspect by 850p should have a rest, the next move will depend on Brexit or UK PM outcome
I like the fundamentals of this company. I bought a few Ks worth today. :) A lot of room to expand. I missed out on the CEO debacle, but I'm glad the company is looking out for its shareholders.
From MIDDAY MARKET REPORT .......
"Elsewhere on the London Main Market, MJ Gleeson was up 5.4% after reporting continued demand for new homes in its most recently ended financial year, resulting in "record" performances of its Homes and Strategic Land divisions.
The Gleeson Homes division delivered its largest annual volume growth in the year to the end of June, selling 1,529 homes, a 25% increase compared with the previous year's total of 1,225 homes.The housebuilder said it is confident that the results for the financial year will be "comfortably" in line with expectations."
Master, any predictions on where this will level out?
786p +48p +6.50%
Improving share price as the "AT"s are more active due to higher volume 29K so far
2 months chart with volume
http://uk.advfn.com/p.php?pid=staticchart&s=L%5EGLE&width=600&height=210&p=2&t=1&dm=2&vol=1&cb=
The share price movement certainly UP reflect the update sentiment by the market
Can see the sentiment to this company and builders returning .
Another couple of days and results day
started very strong reaching again 760p and finishing at 740p higher than yesterday
Recent trend ahead of results on Thursday 4th
1 week chart
https://uk.advfn.com/p.php?pid=chartscreenshot&u=RANWoMON1%2Bk8qJM5RdyT5uU5xW52VWBYf2aasNIG2CQ%3D
"AT"s at 754 and 760p, gone over the Intraday high of last Friday
Already up from earlier cheap price and spread now 736 v 7.50p
GLE growth Expectations
https://tinyurl.com/y6742roj
Recent comment.........
The Motley Fool - Jun 28, 2019 09:36)
Singing the praises of homebuilders is something that’s being done to death, at least as far as this writer is concerned. They provide the perfect blend of big value and, in some cases, even bigger dividends. It’s why I own Barratt Developments (LON:BDEV) and Taylor Wimpey (LON:TW) and I’m considering loading up on some more.
Another brilliant builder that’s on my radar is MJ Gleeson (LSE: GLE), and particularly so with new trading details just around the corner on July 4.
The resignation of Jolyon Harrison as chief executive this month, prompted by a row over the size of his paypacket, has really shaken investors. The company’s share price has fallen by almost a fifth in June, a re-rating which suggests a gross overreaction by market makers.
For one, the small-cap is replacing Harrison with a safe pair of hands in former head of Keepmoat Homes, James Thomson, someone who will keep things afloat in the immediate term at least.
Secondly, Gleeson is not as dependent upon their ex-leader as it was during the company’s upscaling programme of a few years back. And thirdly, because of the UK’s gigantic shortage of new homes, the long-term profits outlook for the business remains a compelling one.
Sales are booming I’m fully expecting Gleeson to remind the market of this when it comes to releasing those fresh financials, something which could well prompt a heavy share price rebound. It certainly impressed last time out in February when it advised revenues boomed 53% in the six months to December, to £118.3m. That upswing was driven by a double-digit rise in unit sales and an increase in average selling prices.
I tipped Gleeson’s share price to jump in the run-up to those half-year numbers and I’m expecting nothing less this time around either. Indeed, the steady stream of positive updates from across the homebuilding sector reinforces my expectations that there’s been no change in those favourable trading conditions.
I’d buy today and never sell With or without its veteran chief executive, City analysts certainly don’t see Gleeson’s long record of chunky annual earnings growth being blown off course any time soon.
They’re anticipating an 11% bottom-line improvement for the year about to start (to June 2020), following on from another double-digit-percentage rise in the period that’s about to expire. And this means dividends are expected to keep rising too, resulting in a jumbo 5% yield for the forthcoming period.
Gleeson clearly isn’t a share for the here and now. Its efforts to turbocharge build rates puts it in the box seat to ride the homes shortage that’s driving newbuild sales. In my opinion, it’s a great share to buy today and hold for many years to come.
ahead of results on Thursday 4th
Everything is pointing to a good results considering the interims profits were UP by 62%
spread very good at the moment 722 v 728p and also share price, just above the lows and bouncing from support.
Strange to have sp lower than the bid ask! After hours action i guess. Somehow my buy order got filled at 698 in that big after hours UT trade shown as a sell. I reckon i got a bargain there, MJ is a divvy growth machine. I see a forward yield of 6% likely at that sp.
im sure they will be able to go forward with a new ceo, it could be Jolyon thats been selling his large holding causing this dip. Its now well oversold on the daily.
I just hope woodfood doesnt own this, i prob should have checked :-)
Price shown at 698. But, before close bid 726 offer 750 I would expect the open on Monday to be around this price.
I thought they were a bargain at £8 so imv they remain a better bargain after todays fall. I do not know why the fall occurred today - guess brpker down grade. Nevertheless , I believe UK builders are well placed and MJ Gleesons will do well in the short and medium term. I shall be buying more once I work out what to sell , i.e has worse prosepects - probably an aim stock. All IMO .GLA.
I personally would go very careful. Firm downward trend in place. I would wait to meet update or results before taking a position. IMHO.
what do you make of the sizeablef all today -8pc- i am not sure if its time to add or more falls?
Opportunity to buy more at 800p shouldn't be missed. Whilst higher than my original purchase last October this really is a steal. FY net profit should be above 40m and dividend atleast 35p ... so p/e around 10 and yield 8% and progressing smoothly to their 5yr plan target of 2000 homes in 2022. On top of that we have the land bank business in South, which could sell for an instant premium. This should rise progressively to over 10 quid by the time results are announced in Sept.
I personally would like to see Stefan as CEO. He has been doing a marvellous job in creating shareholder value over the past 5+ years. Hoping for another retrace today so I can keep buying chunks.
I do think this is a world class company. Also, glad they got rid of the greedy Jolyon.
Retiredbanker, I agree- not sure what the new ceo will be paid but the old ceo recieved sum equal to 10% of aftertax profits- so earnings should rise from the departure alone. Frankly more companies should crack down on excessive pay . Not surprising that a company where the chairman is a large shareholder actually understands this issue. Well done Dermot.
not os sure this is irrational ... maybe speculative shorting on the basis that an ex-CEO now has 2mm shares to sell so might as well try to manipulate the price downwards whilst a potentially large seller is in play.
I do think this will be going back up soon
Hi Taverham
None of my business (just watch Gleeson), but they found a new CEO remarkably quickly.
Tensions have probably been high for some time at top level.
BoL