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

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Share Price:
Down 554.80p
Change Today:
-0.20p
Market Cap:
5,552m
Sector:
General Retailers

Berenberg initiates coverage on B&M at 'buy'

By Iain Gilbert

Date: Tuesday 16 Mar 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg initiated coverage on discount retailer B&M at 'buy' on Tuesday, stating that the group had been and appeared set to remain a "Covid-19 beneficiary".
Berenberg said it believes B&M will be a post-Covid-19 winner, offering one of the strongest top-line growth and return on invested capital profiles in European retail, while its cash-generative business should also support additional capital returns.

"We believe the recent share price pullback has provided an attractive entry point into a structural winner," said Berenberg, which issued the stock with a 600.0p target price.

On the German bank's estimates, B&M trades on a 15.6x 2022 price-to-earnings ratio, something it branded "a justified premium to UK and European retail peers" given its superior ROIC and scope for additional capital returns.

Berenberg also stated market share and customer gains would support B&M's growth step-up, with consensus estimates expecting the group to deliver roughly 21% like-for-like growth in 2021.

The analysts acknowledged this creates "a challenging comparable", but they also believe the growth step-up can be sustained, supported by four growth drivers - the outperformance of the value retail market, market share gains from underperforming value retail peers, incremental customer gains and space growth providing roughly 5-6% growth per annum.

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BME Market Data

Currency UK Pounds
Price 554.80p
Change Today -0.20p
52 Week High 601.00p
52 Week Low 335.90p
Volume 1,807,125
Shares Issued 1,000.82m
Market Cap 5,552m
Beta 0.01

Performance Indicators

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Income
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Growth
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P/E
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Dividend Yield
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EPS Growth
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Operating Margin
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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 13-May-2021

Time Volume / Share Price
16:36 1,119 @ 554.80p
16:35 893,350 @ 554.80p
16:29 572 @ 552.40p
16:29 257 @ 552.40p
16:29 462 @ 552.40p

BME Key Personnel

CEO Simon Arora
Chair Peter Bamford