Research, Charts & Company Announcements
Research Tree provides access to ongoing research coverage, media content and regulatory news on M WINKWORTH PLC. We currently have 9 research reports from 3 professional analysts.
|24Jan17 07:00||RNS||Director/PDMR Shareholding|
|10Nov16 03:19||RNS||Dividend Declaration|
|10Nov16 03:16||RNS||Trading Update|
|17Oct16 12:51||RNS||Appointment of Chief Financial Officer|
|28Sep16 07:00||RNS||Board Change|
|26Sep16 08:14||RNS||Issue of Share Options|
|13Sep16 07:00||RNS||Half-year Report|
Frequency of research reports
Research reports on
M WINKWORTH PLC
M WINKWORTH PLC
Chill for agents, spring in housing volumes
24 Nov 16
Yesterday’s Autumn Statement appears to be: good for 'alternative' housing providers, UK-focused contractors and materials producers; potentially problematic for mainstream housebuilders; and bad news especially for lettings-dominated agents. Chancellor Philip Hammond’s key spending measures included an additional £3.7bn funding to boost new housing volumes and £1.1bn for roads. Shares in estate agents, however, have fallen in response to the threat to ban them from charging fees to tenants.
London slowdown signalled
11 Nov 16
London and Home Counties estate agent Winkworth yesterday indicated that, due to slower than anticipated autumn trading, full year revenues and profits for 2016 would be “moderately below” market expectations. We have cut our EPS estimate for 2016 by 10% and a possibly conservative 21% for 2017, but have raised our dividend forecasts to reflect a higher pay-out than we had projected. We do not see the softer market as being a surprise and maintain our positive stance on the franchising group’s defensive growth strategy
13 Sep 16
We believe Winkworth is a more defensive investment than its rating implies, reflecting a perceived slowdown in London housing. Its franchised operation, with lower fixed costs, and continued growth into lettings and management should bolster it against possible sales volumes declines, and yet it trades at a steep discount to some peers. We believe threats to traditional firms from ‘virtual agents’ are overstated and the 181 year old firm can adapt to the challenge. We initiate with a Buy recommendation and target prices of 153p.
Market non-recovery confirmed
03 Dec 15
Challenging market conditions, especially in central London property, should not have come as any surprise. Management confidence in its franchise is emphasised by continued investment, and the tone of its commentary indicates that it expects payback in 2016. Growing franchise enquiries may give some company-specific support. Confirmation of these conditions means we have cut 2015 earnings estimates by 7%.
Revenue growth despite challenging market
14 Sep 15
Winkworth’s revenue grew 3% H115 on H114 despite challenging markets and unlike some London-based peers that have reported falls. Rental income continued to grow, offsetting pressure on revenue from house sales. Company-specific growth also came from the centralised services including the international desk. Management notes low mortgage rates, improved post-election sentiment and wage increases underpinning a much improved market outlook in H215.
Making Mobiles Better
17 Jan 17
Mobile phones are increasingly the key connection for the modern world. This means that the performance of mobile phones, and their networks, is going to become more critical for all the apps and businesses that rely on them. New technologies such as VR, AR, and AV will need better, more reliable connections to really move into the mainstream. In this thematic piece we attempt to identify some of the most important issues facing mobile phone networks and their users, and start to identify solutions and enablers that will solve these problems and create value by doing so.
N+1 Singer - Morning Song 19-01-2017
19 Jan 17
ACTUAL EXPERIENCE PLC (ACT LN) | BAGIR GRP LTD (BAGR LN) | BIOQUELL (BQE LN) | BROWN(N.)GROUP (BWNG LN) | CARADOR INCOME FUND PLC (CIFU LN) | HALFORDS GROUP (HFD LN) | NCC GROUP (NCC LN) | ST IVES PLC (SIV LN) | SUMMIT THERAPEUTICS PLC (SUMM LN) | WILMINGTON PLC (WIL LN)
Small Cap Breakfast
19 Jan 17
SuperAwesome — The London based specialist in e-compliance is considering an IPO in its home town according to City A.M. Eco (Atlantic) Oil & Gas—TSX-V listed oil and gas exploration has announced its intention to float on AIM. Assets in Guyana and Namibia. Proposed £2m-£3m fundraise. Diversified Gas & Oil—According to LSE website first day of trading on AIM now expected for 30 January
N+1 Singer - Best Ideas 2017 - Top picks
04 Jan 17
Today we publish our Best Ideas for 2017 - 12 stocks that we believe have excellent prospects in the current year together with a detailed discussion of what we see as the key sector and market themes for 2017. Our top picks are Cineworld, Elementis, Herald Investment Trust, Hill & Smith, IQE, MySale, Redde, ReNeuron, RhythmOne, SDL, Servelec and Severfield.
N+1 Singer - Harwood Wealth - FY16 EBITDA 11% ahead, positive strategic progress
24 Jan 17
Harwood Wealth (“HW”) has delivered final results which showed EBITDA 11% ahead of our forecasts and successful execution of the consolidation strategy with 17 acquisitions in FY16 using IPO proceeds. The board has declared a maiden final dividend of 2p (payable in May) from cash generation. £10.5m net cash leaves the business well positioned to continue to pursue acquisition opportunities. Based on previous multiples paid, we estimate HW has cash resources to materially increase EBITDA complemented by organic growth. HW reports a positive start to FY17e.
N+1 Singer - Northern lights - Shining prospects for 2017
16 Jan 17
As the birthplace of Stephenson, Armstrong and Swan, the North East of England has a proud history of industrial and technological innovation. Despite local economic challenges, the region’s industrial heritage lives on through continuing success in high end engineering and technology. The recent takeovers of private equity backed SMD (subsea robotics) and Nomad Digital (wi-fi on the railways) are testament to this. The North East has also emerged as a leader in genetics and genomics with an enviable life sciences and healthcare infrastructure. Against this backdrop, we expect the region to continue to throw up attractive IPO candidates to build on the six new listings in the past three years. We expect 2017 to be far kinder to the existing portfolio of North East plcs than 2016 (a year to forget) with recent management changes one important theme for the new year. Our top picks are Hargreaves Services, Quantum Pharma and Zytronic (all N+1 Singer Corporate clients) and we are Buyers of Northgate and Grainger.