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Thread: WM Morrison Supermarkets PLC (LON:MRW)

  1. #1
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    WM Morrison Supermarkets PLC (LON:MRW)

    Wm Morrison Supermarkets plc is a food retailer. The Company has approximately 500 stores, 130 M locals and an online home delivery service. It has a vertically integrated supply chain. The Company is mainly a provider of food and grocery and it sources and processes the fresh food that it sells though its own manufacturing facilities. It owns, operates and controls a greater proportion of its fresh food supply chain which enables customers to tailor their meat and fish to suit preferences and buy freshly baked goods. The Company is also operating in Birmingham, Manchester, North London, Sheffield and, Lincolnshire, apart from Warwickshire and Yorkshire. The Company operates seven regional distribution centres servicing its core supermarkets, and two convenience distribution centres.

    Official website: www.morrisons.co.uk

  2. #2

    MRW

    From my analysis I think this stock is showing selling strength.

    What do you all think?

  3. #3
    Here is some target prices from leading brokers (today price is 180)

    Broker Date Rating Previous
    assessment
    Latest
    assessment
    Assessment
    change
    Previous
    target
    Latest
    target
    Target
    change
    May 2015
    Barclays Capital 08/05 Reiterates Underweight Underweight 180.00p 180.00p
    Exane BNP Paribas 08/05 Reiterates Underperform Underperform 170.00p 170.00p
    JP Morgan Cazenove 08/05 Reiterates Neutral Neutral 225.00p 225.00p
    Shore Capital 07/05 Reiterates Buy Buy
    Cantor Fitzgerald 07/05 Reiterates Buy Buy 200.00p 200.00p
    Deutsche Bank 07/05 Reiterates Hold Hold 210.00p
    Jefferies International 01/05 Reiterates Buy Buy 230.00p 230.00p


    Also check outlook by Hargreaves Lansdown (May 7, 2015):

    Morrison's shares are "ex" a final dividend of 9.62p today, but have opened an additional 1-2% lower after their Q1 trading update, which showed the business treading water, with no improvements really visible, but no deterioration either. Details are scant and there is no significant strategic update from newly arrived CEO, David Potts.

    Highlights:

    • Total Sales (ex-fuel) were down 1.1% for the 13 weeks to May 3.
    • Like-for-like (LFL) sales were down 2.9% ex-fuel, or 6.6% including. This compares to -2.6% in the final quarter of last year, and -7.1% in the comparator quarter.
    • Online sales boosted the LFL number by 1.0%.
    • Store closures were greater than openings; net space fell by 50,000 ft² in the quarter.
    • Head Office restructuring costs of £30-£40m to be incurred this year.
    • Net debt fell by around £150m in the quarter, to £2.2bn.


    Items per basket have pretty much stabilised. Having been falling at an annual pace of 5.9% in Q1 of last year, the decline in the latest quarter was just 0.1%.
    But the number of transactions is still declining at a meaningful pace. In Q1 last year, the rate of decline was 3.6% p.a. and this slipped from -1.9% in Q4 to -3.2% in the latest period.

    Morrison is weeding out the weak performers in its range, with the number of lines stocked (SKUs) falling from 23,600 to 21,650. Promotional activity is also reducing, in favour of lower everyday prices. Year on year, the number of items on promotion has fallen in each of the last five quarters, with the last quarter seeing a decline of 4.3%, equivalent to a 210bp fall in the percentage of sales made from promotional lines.

    Outlook:
    Morrison are undertaking a full assessment of the business under new CEO David Potts, and the results of this will be released later in the year. In the meantime, the company has said that they expect profits to be weighted toward the second half of the year and that as described at the full year, the focus is to invest more for customers in order to build trading momentum, rather than achieve quick, but potentially short-lived financial benefits.

    More here http://www.hl.co.uk/shares/shares-se...share-research

  4. #4
    Quote Originally Posted by Michael View Post
    Here is some target prices from leading brokers (today price is 180)

    Broker Date Rating Previous
    assessment
    Latest
    assessment
    Assessment
    change
    Previous
    target
    Latest
    target
    Target
    change
    May 2015
    Barclays Capital 08/05 Reiterates Underweight Underweight 180.00p 180.00p
    Exane BNP Paribas 08/05 Reiterates Underperform Underperform 170.00p 170.00p
    JP Morgan Cazenove 08/05 Reiterates Neutral Neutral 225.00p 225.00p
    Shore Capital 07/05 Reiterates Buy Buy
    Cantor Fitzgerald 07/05 Reiterates Buy Buy 200.00p 200.00p
    Deutsche Bank 07/05 Reiterates Hold Hold 210.00p
    Jefferies International 01/05 Reiterates Buy Buy 230.00p 230.00p


    Also check outlook by Hargreaves Lansdown (May 7, 2015):

    More here http://www.hl.co.uk/shares/shares-se...share-research
    It is quite satisfactory an i am hoping it to raise a bit further than the present.

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