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r1234
''it should be 4.05p after 15/19 consolidation.''
no it shouldn't - the policy is to pay out 35% of the previous years total dividend
As I’ve thought for a long time, very undervalued compared to its peers, when you think about the £7billion valuation of Morrisons? The SP must be in line for a big re rate on would have thought? Adyor!
Bottom line: Looking forward, the group said that it will aim to generate GBP1.4 billion-GBP1.8 billion of retail free cash flow annually and grow the dividend each year, targeting a pay-out of around 50% of earnings. Capital expenditure will remain between GBP0.9 billion and GBP1.2 billion.
nice,
GBX 264.38
4.50%
+11.38 Today
No change in dividend. To remain the same as last year it should be 4.05p after 15/19 consolidation.
A strong first half leading to an upgrade in full year profit expectations:
DT I know it’s showing now, but I check every morning the London Stock Exchange (see link below) . Home page - News and Prices - RNS News
https://www.londonstockexchange.com/news-article/TSCO/interim-results-2021-22/15162463
They are out though just not on here. Dividend of 3.2p. Share buyback of £500m. Looking ahead to paying out 50% of future earnings. Hope that helps until you get to read. Rgds
RNS as it is obligated to be was available on the London Stock Exchange's website at 7.00 a.m. I would say very encouraging, but as always I disagree with share buybacks. Shows a lack of ambition.
Thought we were issuing 1/2yr today? Has someone forgot to press the button to release the RNS?
Millcottage, Yes a very good forecast and if we get the +10% re-rate then the £ 3 mark is within reach soon.
Hopefully tomorrow will trigger an upwards trend to 300p.
For Tesco's first half results, UBS analyst Sreedhar Mahamkali expects the grocer to report industry-beating sales.
To back up his forecast, he pointed to proprietary UBS data according to which Tesco's net promoter score was at its best ever level, as ALDI/LIDL "continue to deteriorate".
Indeed, Tesco enjoyed "strong" price perception, had demonstrated the "best" customer experience and overall industry growth remained robust.
He was also anticipating that management would provide "clarity" around the company's free cash flow and shareholder returns.
"With upgrades and clarity around investment thesis to emerge, we expect the shares to re-rate from here and reverse the YTD underperformance (+10% YTD vs. c20% for the sector ex MRW)," the analyst judged.
His estimate was for six-month earnings before interest and taxes of £1.35bn at Tesco.
lti > Indeed needs to break through resistance @ 267
on the move
Gaz > Yep simple maths the smaller the pot the bigger the div payout
Share buy backs indicate a couple of things in my opinion;
- Company has lost direction and rather using capital to invest in growth areas is basically banking the cash instead.
Bit like granny giving you £10K to invest in a small business and you buy government bonds instead.
- Company has the ability to borrow money at low rates due to credit rating and expects to be paying high dividends.
Aka Dividend per share = 4% …borrowing money to buy back shares and avoid paying dividends on them is say 1%.
So expected buy back to be announced as part of the half year results on wed surely a big step towards returning value to shareholders any options please?
Millcottage agree on the whole UK Plc are currently On Sale wrt Tesco SP it's well overdue a rerating following the take-aways of both ASDA and Morrisons the sector is ripe for takeovers
London – 21 September 2021 – A shift away from publicly traded companies and towards private equity as a central driver of the UK economy has been accelerated by pent-up demand and low interest rates. With an increase of 39% in closures of mid-market private equity deals alone in the first half of 2021 compared to 2020, we are currently enjoying a buyers’ market. Here HULT Private Capital examines this good news for private equity investors in greater depth.
What are the numbers?
Across the private equity market, we are seeing renewed confidence amongst investors. During the first quarter of 2021, closed private equity deals in Britain reached a five-year high compared to previous Q1s. H1 saw 785 deals completed with a total value of £73.7 billion, impressive figures last seen in 2017. This marks a 61 % growth in volume and 48 % increase in value of the transactions completed in H1 2020.
Contrasting these figures with the EU which saw just 14 % growth, it is clear that the UK holds considerable potential for investors looking to expand their holdings in the private equity market.
What is driving the expansion?
One of the key forces behind the flurry in the market is the revival of deals that were paused during the first half of 2020 as the pandemic took hold. With investors now returning to the field keen to lay down cash, the private equity market has been reinvigorated.
Compounding this, the UK’s relatively cheap equities are encouraging buyers to spend. The mass withdrawal of investors from UK equity income funds following the 2016 Brexit vote made the UK stock market appear enticingly cheap compared to the EU and US. Those now keen to invest are enjoying the appealing opportunities this presents.
Low interest rates are also pushing investors towards private equity in search of higher yields, including via buyout firms like HULT Private Capital who are offering attractive returns. Moreover, low interest rates on borrowed funds means the private equity model is more accessible than ever. This facilitates new entrants to the market as well as encouraging those eager to use leverage to generate better returns.
In short, investors are recognising the significant opportunities currently presented by the private equity market and are excited by the potential for generous returns implied by the UK’s low prices and interest rates amidst its nascent post-pandemic economic revival. No doubt investors will take advantage of this buyers’ market sooner rather than later.
Private equity funds are sitting on hundreds of billions at the moment where Covid-19 market turmoil has muted them.
Now things are calming down , markets starting to stabilise and companies returning to business as normal expect to see a flurry of buy outs.
Tesco is well within range for a buy out.
I'll take opinions and advice from people with more knowledge than you.....£20 billion is a drop in the ocean to some investment funds. Takeovers happen to companies with valuations 10 times greater than Tesco's, do some research my friend!
Yet another buying opportunity arises in the 240’s?
The chance of a Tesco buyout is as likely as its SP reaching 350p !!
You are completely wrong.
The slight pull back does not detract from the fact that Morrison’s is being valued at £7 billion, Tesco is a much larger organisation that is trading at a massive discount to its peers. If the Tesco SP doesn’t increase to a more realistic level in the coming months I agree with others that private equity firms will start taking an interest very soon. Aimho adyor!
Nope.
SP diving over last week and now sun 250p