Foxtons Share Price (FOXT)

Sales ticking along quite nicely and inventory Same rules apply at Winkies and it does look sas if 60p will be jumped e very shortly

Property minmow Fletcher King reported today, a small outfit in the commercial property sector with some encouarging news of increased activity

SP responded according;y

." Revenue for the year is now expected to be materially higher than management expectations, with a corresponding increase in profitability."

Overall, it now expects to report profit before taxation for the year ended 30 April 2024 that is likely to be in the range of two to three times higher than last year."

No doubt questions will be asked about the ongoing takeover talks of the company and will no doubt over shadow the exciting prospects of the company as we head into another busy Summer season in the property rental market.

Could we see more market game play today ahead of the weekend, more than likely !!!

I like this part of the article ( thanks for sharing) Over 2 years if a bidder doesn't snatch it this could be around 110-120 minimum as we see earnings per share rise and the multiple staying similar to todays Good share to keep this one . the quick take out will be good from a personal annualised return for sure but dont' mind holding either

Broker’s View – Price Objective 88p

Analyst Greg Poulton at Singer Capital Markets rates the group’s shares as a Buy, with a Price Objective of 88p.

He is now estimating current year revenues of £158.3m, £17.0m profits, 4.0p earnings and a 1.10p dividend per share.

Over the next two years to end 2026 he sees revenues rising to £179.6m, £25.2m profits, 5.9p earnings and a 1.50p per share dividend.

Https://ukinvestormagazine.co.uk/foxtons-group-is-rothschilds-looking-for-a-buyer/

The sector in general had a good Friday , Foxtons did quite well but it wasn't an isolated stock to go up in the sector .

Think the sector especially in London is starting to pick up . Good article in the weekend press on how flats are starting to outperform as office workers are returning to the office . Foxtons rents out 1000s of flats in London and demand here is huge .