Financial Trading Blog
Stock of the day 29/12/2014 – Next PLC
In an up-and-down year for rivals ASOS and Marks & Spencer, Next has had a consistently strong year. Its lowest price happened on 2014’s first day of trading, at £54.62. Since then the company has maintained its higher share prices, culminating in a year high of £72.70 in early September. Next couldn’t hold onto this price, but it has still remained way above its yearly open, currently trading at around £65 per share.
Next’s half year results, released in September, saw a 3.85% fall to £69.40, followed by another fall at the end of that month. However, Next quickly stabilised, and has shown no sign of significantly losing the gains it has made this year. As the year comes to a close, the company is looking at its 6th straight year of double digit earnings growth forecasts, reflecting its stable position in a sector that’s sales were hit by an ‘unseasonably warm’ autumn. This caused Next to issue a profit warning; yet Next managed to weather (pun intended) the effects of this sun-based-slump, outperforming its brick-and-mortar, and online, competitors on the stock markets.
Despite this consistently strong performance, analysts gave the stock a consensus rating of ‘hold’ last week, perhaps due to lingering effects of the autumn sales contraction. It remains to be seen the full effects of this weather-warning. Regardless, Next can be happy with its strong market performance, and ready itself for the New Year.
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