San_Jaime
12 Nov 2019
WJG : Pre-Close Trading Statement Hi Ripley, are you in here, I just added a few more at 213p, as now consider this currently undervalued. Did you top up here yesterday when there was the big family sell off for 210p - causing the significant drop to around that price ? I was a bit slow to react. SJ
Ripley94
14 Aug 2019
WJG : Pre-Close Trading Statement WJG… A Woodford share Edmond Jackson on this site liked yesterday. Gap down this morning to 211p early,before puling back to 216p. Bit like unite .
EdinburghInvestor
31 Oct 2018
WJG : Pre-Close Trading Statement Yes great set of results and pleasing to see a strong pipeline in place and visibility over future earnings - ticks all my boxes for a long term investment here. It has certainly out-performed any early morning gains across the FTSE… What happens in the market over the forthcoming months is anyone’s guess… I have been slowly increasing my cash holding and getting out of some investments. Without the Brexit backdrop / noise WJ would be flying… Great company, and been a great investment thus far.
Bowman
31 Oct 2018
WJG : Pre-Close Trading Statement The latest Trading Statement [click to view] did not appear to be too bad and the market seems to also think it is reasonable, although I am unsure if this mornings’s rise is the result of the Statement or just a reflection of the more positive tone on the markets in general. At least the sp has been ignoring the recent gyrations of the FTSE and has maintained a more sideways trajectory. Hopefully the forthcoming results will reignite a more upward movement, but this will depend on how the markets are viewing the more general effect of our leaving the eu at the time they are released.
Bowman
10 Oct 2018
Watkin Jones - strong operational progress @EdinburghInvestor, WJG was at about 113 at the beginning of 2017 and went over 200 on August 15th 2017, where it remained from 1st September to the end of 2017, having hit its 246 peak at the beginning of November. So yes it only spent 37% of 2017 above 200 so I would agree that a large proportion of the time it was below 200. In comparison, so far in 2018 it has spent 56% of the time above 200. I did not say that the price movement was a result of a low listing price, I said it could have been a factor behind the rise in 2017. Over the years I have seen many newly listed shares that climb substantially in the first one to two yeatrs after listing, only to fall back subsequently. WJG, according to my data, is in the Household Goods and Home Construction sector. Other shares in this sector are Telford Homes, Redrow, Crest Nicholson, Bellway, Barrett Developments to name a few which are, as far as I know, classed as housebuilders. Hence my reference to sectorial effects. The fundamental data appear to be quite good, as does its business model, however, these have not stopped the share price from going sideways for a large portion of 2018. They also did not prevent the very large share price drop between November and April. I think that there are other external factors that are having more effect on the share price than the fundamental data, and these factors will probably stay in place for the next 12 months or so. A good set of results should at least help to offset some of the market negativity, and it is possible (probable?) that we will stay in the 190 to 220 range. As you suggest, lets visit the situation later in the year and see how we have fared.
EdinburghInvestor
10 Oct 2018
Watkin Jones - strong operational progress The share price was below 200p for most of 2017. Would have to disagree with the price movement being a correction of a low listing - interim results every half year show improved profitability metrics - on a multiple valuation basis the company is worth more than when it listed year on year. The same argument could no doubt be applied to DCF analysis given the pipeline of projects. Housebuilders is an entirely different sector and market dynamics… I haven’t and won’t touch housebuilders. Volumes are too low. The only connection between the two is a few bricks. Let’s touch base early November and see where we are!
Bowman
09 Oct 2018
Watkin Jones - strong operational progress Yes, we are looking at the same share. I do not dispute that the SP is well up on the listing price, but this was achieved in 2017. One could argue that the listing price was actually too low and the subsequent price movement was just correcting this. This year’s price movement hardly shows belief in the Company. As I said in my last post there are similarities with the price movement of other housebuilding Companies, which implies that there is a sectorial affect. I am expecting a solid set of results, but am not expecting a massive change in the SP. The PEG that I watch is over 2 which is quite high. The criteria I look at are supportive but flag this as a hold rather than a buy.
EdinburghInvestor
09 Oct 2018
Watkin Jones - strong operational progress Are we talking about the same company? The share price trajectory since listing has seen a 100% gain in 2 years. There has been more than two sets of results – interim results continue to show the aforementioned trajectory and momentum. Perhaps you are just reading the year end report – no doubt made for good reading though! The slump you refer to is underpinned by market noise, Brexit concerns across board, a new CEO… It is still sitting at over a 100% gain since listing. Look at the bigger picture. Comparing a company student accommodation builder to a house builder? You are comparing apples with oranges. A key driver for housebuilders is volume of residential transactions. The market dynamics and drivers for a company building purpose built student accommodation are entirely different.
Bowman
05 Oct 2018
Watkin Jones - strong operational progress The fundamentals all seem fine and appear to bode well, but what is the use of good fundamentals unless they translate in a positive share price trajectory. WJG is a relative newcomer to the markets and we only have two sets of results on which to judge it; this is hardly a long track record. As I mentioned before we have seen a 30% slump in the share price, and although there has been some recovery we are still down on the level from 12 months ago. There have been some sharp movements over the past year and most have been negative, with the recovery taking time, and the new highs have been lower each time. We need to better 220 to break this downward peak trend. At best we now seem to be in an overall sideways trend. If I compare WJG share price movements with those of other housebuilders, then there are some similarities, so I suspect WJG has just suffered from market sentiment to the sector, rather than anything WJG specific. Let us hope this sentiment changes soon and we can achieve a re-rating.
EdinburghInvestor
05 Oct 2018
Watkin Jones - strong operational progress Good insight. Whilst there is a dip in share price, I put that largely down to market noise and sentiment. The key is in the financial detail here. Quarter on quarter revenue growth, year on year uplift in revenue… momentum! Underlying operating profit is robust, and the latest market insight bodes well in terms of cash generation. It’s cash conversion will be further enhanced. It’s Balance Sheet is looking stronger. Likewise been tempted to sell and realise my profit but this is probably the most exciting company in my current portfolio. Will be riding on it’s coat tails for the foreseeable future. It’s interim results where hugely impressive… Can’t see that changing much in H2. Sitting tight for the end of October.
Bowman
05 Oct 2018
Watkin Jones - strong operational progress It is good to see WJG moving back up again, although we are still down on the year. The sp moved sideways since July despite some good news being reported. The 240 targets are still lower than the 250 peak last year. It would certainly be good if we could repeat the 2017 trajectory. It should not be forgotten that we saw an almost 30% drop in the sp from its peak, and we are still 14% below the peak. I have held these for just over 18 months and am up 38% excluding dividends as of yesterday, although that gain was all made in 2017, and I am back to where I was about a year ago. I have kept faith with WJG, despite it being recently in an area where I would normally have sold out. I hope that the trading update due soon will show that this faith was well placed, otherwise I might well convert my current paper gain into an actual gain. wjg.png2880x1748 205 KB
EdinburghInvestor
05 Oct 2018
Watkin Jones - strong operational progress Good summary of recent activity at WJ recently: investorschronicle.co.uk – 4 Oct 18 Watkin Jones offers robust visibility The specialist in purpose-built student accommodation and private rented sector housing has a robust forward sold development pipeline With the final results due 31 Oct this is looking really promising… Share price is reacting favorably. Broker forecasts have the Group at 240p.
EdinburghInvestor
04 Oct 2018
Closed at 202.5p today. Very cheap! How are those charts looking today?! Must be giving you a sore neck with that upward trajectory! 208p… Sitting very nicely with year end results due 31 Oct. This will be a good month. Hope you still have some exposure and didn’t sell out.
EdinburghInvestor
07 Aug 2018
Closed at 202.5p today. Very cheap! Have you looked into why is the SP was retracting marginally in your graph? Because the colorful line said so? Do a bit of digging behind the decline of late on their SP and the pedestrian growth in recent weeks. You might see a recurring theme across some markets. Technicians Vs fundamentalists… Place your bets! Don’t worry, your colorful charts will be on an upward trajectory once the year end results are announced. The valuation metrics for this company tell you all you need to know. Add that to the quarter on quarter momentum this company displays and the underlying demographics - roll on October!
Bowman
01 Aug 2018
Closed at 202.5p today. Very cheap! MONKEYSO: What’s not to like! Currently I might suggest the falling SP, and especially the falling MA’s. However, hopefully we are looking at a bottoming trend, rather than a pause before a larger fall. If it was cheap @ 202.5p then it is even cheaper @ 195.2p
