We have increased our FY16 earnings forecast by 6% to reflect a strong Q416 for both residential and contract flooring businesses. Further to today’s upgrade, the shares now trade on a FY16 PE of 12.7x and a total yield of 7.5% as we now anticipate the special dividend will be triggered. Headlam shares have moved sideways over the past 18 months despite meaningful earnings growth implying a steady de-rating. Recent management changes will allow a fresh look at efficiencies in the busine
19 Jan 2017
Trading update; FY16 earnings forecast +6%
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Trading update; FY16 earnings forecast +6%
Headlam Group plc (HEAD:LON) | 172 0 0.0% | Mkt Cap: 139.3m
- Published:
19 Jan 2017 -
Author:
Arden Partners Research Team -
Pages:
4
We have increased our FY16 earnings forecast by 6% to reflect a strong Q416 for both residential and contract flooring businesses. Further to today’s upgrade, the shares now trade on a FY16 PE of 12.7x and a total yield of 7.5% as we now anticipate the special dividend will be triggered. Headlam shares have moved sideways over the past 18 months despite meaningful earnings growth implying a steady de-rating. Recent management changes will allow a fresh look at efficiencies in the busine