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Prices & Quotes - UK Markets - B&M European Value Retail S.A. (DI) (BME)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 580.00p
Change Today:
7.20p
Market Cap:
5,805m
Sector:
General Retailers

BofA stays at 'buy' on BME European Value Retail, sees strong Q4

By Alexander Bueso

Date: Thursday 07 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Bank of America reiterated their 'buy' stance on shares of B&M European Value Retail arguing that the new lockdown in the UK should buoy the firm's sales.
The retailer posted a 21.1% jump in UK like-for-like sales for the 13 weeks ending on 26 December and BofA estimated that growth slowed to 17% in December.

Yet that stronger-than-expected performance for its fiscal third quarter led the company to narrow its guidance for full-year earnings before interest, taxes, depreciation and amortisation from 520-570m to 540-570m.

BofA did not thing that the upwardly revised guidance was a function of expectations for a "strong" fourth quarter.

The broker nevertheless revised up its estimates for B&M's 2021 financial year EBITDA from 532m to 554m, albeit leaving its projections for the outer years virtually unchanged.

For the fourth quarter of FY 2020, the analysts predicted double digit LFL sales growth in January and February before strong comparables for March began having an impact.

"The tough comps for FY22 could be seen as a concern, though we expect B&M to capitalise on a broader base of clients, gained during the pandemic," they added.

"We believe the company to retain new customers, build loyalty, and keep most of the sales built in 2020/21. We reiterate our Buy rating."

BofA left its 545.0p target price for the stock unchanged.

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BME Market Data

Currency UK Pounds
Price 580.00p
Change Today 7.20p
52 Week High 601.00p
52 Week Low 331.00p
Volume 1,100,353
Shares Issued 1,000.82m
Market Cap 5,805m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 9
Sell 0
Strong Sell 1
Total 19
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BME Dividends

  Latest Previous
  Special Interim
Ex-Div 14-Jan-21 19-Nov-20
Paid 29-Jan-21 04-Dec-20
Amount 20.00p 4.30p

Trades for 07-May-2021

Time Volume / Share Price
16:35 555,722 @ 580.00p
16:29 551 @ 579.80p
16:29 26 @ 579.80p
16:29 323 @ 579.60p
16:29 9 @ 579.60p

BME Key Personnel

CEO Simon Arora
Chair Peter Bamford