Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on BARRATT DEVELOPMENTS PLC. We currently have 10 research reports from 2 professional analysts.
|22Feb17 12:34||RNS||Holding(s) in Company|
|22Feb17 07:00||RNS||Half-year Report|
|08Feb17 16:11||RNS||Holding(s) in Company|
|01Feb17 10:05||RNS||Total Voting Rights|
|23Jan17 09:40||RNS||Block listing Interim Review|
|19Jan17 15:57||RNS||Board Change|
|19Jan17 15:26||RNS||Holding(s) in Company|
Frequency of research reports
Research reports on
BARRATT DEVELOPMENTS PLC
BARRATT DEVELOPMENTS PLC
23 Feb 17
The Dow Jones notched up its 9th consecutive all-time high last night, buoyed by Du Pont shares spiking on the news that it is likely to win conditional approval for its proposed US$130bn merger with Dow Chemicals. By comparison the S&P 500 and NASDAQ closed with fractional losses, as Fed Minutes appeared to keep the expectation of a hike at the next two-day FOMC meeting stating on 15th March alive, while slipping commodity prices also saw mining stocks under pressure. Asia was weaker across the board, although a range-bound the Nikkei recovered most of its early losses after the Yen weakened against the US$ following the BOJ's Kiuchi voicing concern over Trump's reflationary and growth programmes; the region's other principal bourses fell more convincingly albeit on relatively light volumes. London continued to be dominated by individual corporate stories, with stronger than expected earnings reports emerging from Lloyds Banking Group (LLOY.L), Barratt Developments (BDEV.L)and UBM (UBM.L) keeping the main indices pointing upward, while Unilever (ULVR.L) also spiked higher as its management responded to a view that it is 'not a case of if, but when' Heinz will return with a second merger proposal by increasing its guidance for margin growth and promising to capture value for shareholders more quickly. Traders also warmed to the second estimate of UK GDP from the ONS showing that growth advanced 0.7% sequentially in the fourth quarter, slightly faster than the 0.6% growth estimated on January 26th and higher than level achieved in the third quarter. Indeed, firm consumer sentiment, continuing low interest rates and a weak pound are now suggesting consensus expectations of just 1.4% for 2017 could now be slightly too low, although a beady eye is still being kept on the inflationary effects of higher input costs. Other than the CBI Distributive Trades Survey for February and CML Mortgage lending numbers, there is little significant macro news due from the UK today, although a large batch of US data, ranging from Initial Jobless, Housing Prices and the Chicago Fed National activity Index, will be accompanied by a speech from the Fed's Dennis Lockhart. A large number of UK corporates are due to release earnings or trading updates this morning, including Barclays (BARC.L), BAT (BATS.L), Centrica (CNA.L), Glencore (GLEN.L), Howdens (HWDN.L) and RSA Insurance (RSA.L). With most portfolio managers already having positioned themselves ahead of the President's next major announcement, which is expected to come with next Tuesday's State of the Union Address, London is seen opening quietly unless that emerges any significant surprises from scheduled corporate releases, leaving the FTSE-100 between flat and 5 points firmer in early trade.
17 Nov 16
"The Fed's Patrick Harker yesterday spelt out just how complex policy on interest rates has now become. Janet Yellen's own testimony this afternoon, which is seen as key to December's FOMC decision, will have to grapple with all the new uncertainties injected by the President-elect, ranging from regressive tax cuts, booming infrastructure spending, financial deregulation and cuts in federal spending. No easy task, even if the markets appear more convinced than ever that the first hike since 2006 will be delivered next month and that this will be the first of a series of such moves over the subsequent 18 or so months as inflation climbs. The recent phase of asset repricing, nevertheless, took a breather yesterday, with all principal markets making only fractional movements. The Dow Jones broke its record run to drift into the red as financials retrenched, while momentum in technology stocks meant the NASDAQ still managed to close modestly up. Asia also put in just marginal movements across the board, as oil prices went lower on weekly data detailing a large rise in inventories, while the Bank of Japan surprised traders with its plans to buy unlimited JGBs at fixed rates in its latest daily market operation. The latter, of course, being seen as it effort to ensure domestic rates do not find themselves shackled to the US T-bill's upward movements. Today, the UK is due to release retail sales figures while the CML provides mortgage lending data; Eurozone inflation numbers are also expected this morning. Clearly the principal event of the day, however, will be Janet Yellen's Testimony on Capitol Hill which is due to commence at 10:00hrs EST and likely overshadow speeches also due from the Fed's William Dudley and Lael Brainard; the US is due to release inflation, weekly jobless claims and export statistics this afternoon as well. Another busy day for UK corporates, with earnings or trading updates scheduled from the likes of CRH (CRH.L), Great Portland Estates (GPOR.L), Johnson Matthey (JMAT.L), Kier Group (KIER.L), Premier Oil (PMO.L), Royal Mail (RMG.L), Shanks (SKS.L), Ted Baker (TED.L), TT Electronics (TTG.L) and Watkin Jones (WJG.L). The FTSE-100 is expected to open virtually unchanged." - Barry Gibb, Research Analyst
The Slide Rule
12 Jan 17
What is The Slide Rule? The Slide Rule has been designed to dramatically simplify the identification of the best companies in the UK small/mid-cap sector by making a quantitative assessment of the relative potential of each company. At its core, The Slide Rule aims to identify those companies that create genuine shareholder value through strong returns on capital and solid growth, but also present a value opportunity with the potential tailwind of earnings momentum. Companies are assessed within a Quality, Value, Growth and Momentum (QVGM) framework.
Root & branch review – early margin positive
23 Feb 17
Unilever (ULVR LN, HOLD, T/P 3800p) announced yesterday that it will publish the findings of a root and branch review in April 2017. This is stated as being a result of the recent approach made to them by KraftHeinz (KHC US, N/RO), an offer which quickly lapsed.
A compelling global brand roll-out story
22 Feb 17
We believe that SuperGroup remains one of the most undervalued global brand roll-out stories within the UK retail sector. The stock trades at c20% discount to its UK peers on a 1YF EV/EBITDA basis despite best-in-class revenue growth and profit margins. SuperGroup operates a leading multi-channel proposition, has strong sales momentum across each channel and forecast risk remains on the upside. We initiate coverage on the shares with a buy recommendation and price target of 1898p, implying upside of 27.8% over the prevailing market price.
High single digit EPS growth remains on track
17 Feb 17
BAT (BATS LN, HOLD, T/P 5300p) announce their preliminary 2016 results on Thursday 23rd February. We forecast revenue to increase 13% to £14.8bn, in line with Bloomberg consensus, and adjusted diluted EPS to continue its positive momentum to 249p (232p FY2015). Analyst consensus is 246p.
Despite offer lapse, Unilever remains under pressure
20 Feb 17
Unilever (ULVR LN, HOLD, T/P 3800p) announced yesterday that it is no longer subject to a £40 per share offer from KraftHeinz, which valued Unilever at 14x EV/EBITDA and a 24x P/E ratio. The announcement was made jointly with Kraft Heinz. While the offer lapse will probably prompt Unilever’s shares to open lower – they rose 13.3% on Friday – longer term changes may be more positive.