This seems a bit odd - can anyone shed light on this?
Dixons have no trades showing on DXNS has the epic changed or something?
Cheers for any input
:>)

Dixons Interims: Initial broker reaction
17th December 2013, 14:37

Half-year results from electrical retailer Dixons Retail [LON:DXNS], published today, appear to have been well received by analysts but less so by the market, given the shares were down by nearly 5 per cent by mid-afternoon.

Investec reiterated its ‘buy’ recommendation, nudging its price target up slightly to 62 pence per share (from 60 pence), and said that “Dixons is more than a ‘tab-tastic’ Christmas play”.

Cantor Fitzgerald also repeated its ‘buy’ stock rating and increased its price target to 60 pence per share from 50 pence.

The broker has also increased its pre-tax profit forecast for 2014 to £155 million (previously £150 million) and its earnings per share estimate to 2.84 pence (from 2.75 pence).

Meanwhile, Prime Markets has put out a ‘buy’ call and set a 55 pence per share 4 week target.

The broker said: “CEO Sebastian James has rightly sounded a note of caution over the uncertain outlook, but with his company sitting on a net cash pile of GBP55m compared to a GBP21m debt last year, and with a further GBP45m of cost reductions targeted, we believe Dixons shares still offer substantial upside.”

In terms of the broader market opinion, Broker Forecasts consensus data shows that nearly two-thirds of brokers rate the shares as an ‘add’ or better, while the remainder rate them as a ‘neutral’ or ‘hold’.

At 2:34pm: Dixons Retail share price was down 2.48 pence at 48.82 pence.

HL VIEW.............

Post H1 comments:

"Dixons has already come a long way since the depths of recent years and we believe today's update is further confirmation that the company remains on track to deliver a full recovery.

A swing to underlying profit and a net cash position was achieved through a combination of a focus on costs, the previously announced disposal of its troubled units and a strong sales performance within most of Northern Europe, most notably its key UK and Ireland market. In addition, the removal of the strategic distractions in the form of PIXmania and Electroworld will enable further concentration on growing within a highly competitive sector. Less positively, the absence of a dividend remains a concern within the current interest rate environment, whilst margins remain under pressure as Dixons continues to sharpen its product pricing.

Overall, the recovery has been rewarded with a strong share price performance of late, having risen 87% over the last year, as compared to a 26% jump in the wider FTSE250. Even so, the current price of around 50p (as of 17Dec2013) probably needs to be put in context of the share price high of over 220p in October 2006 and, indeed, the low of 9.5p in December 2008. The market consensus of the shares as a strong buy is, we believe, likely to remain intact as the company still shows signs of further positive prospects."

nk

Numis Hold 49.07 48.73 48.00 48.00 Reiterates

Barclays Capital Overweight 49.05 48.73 62.00 62.00 Reiterates

Nomura Buy 49.62p 60.00p 60.00p Reiteration

Hi SK. Having been shopping in PC World this week I agree with the brokers that the benefits of market share are growing. At below 50p there seems to be plenty of upside in the price both short and long term.
Bought 10,000 at 48.95

I've also added a few more this week - first purchase in April - so happy to hold/add.

Completion of disposal of Pixmania

Dixons Retail plc, Europe's leading specialist multi-channel electrical retailing and services companies, today announces that it has completed the disposal of PIXmania S.A.S to mutares A.G., a German listed industrial holding company.

PIXmania is a European pure-play e-tailer, based in France. The transaction, first announced in September, saw Dixons provide approximately €69 million (c£58.1m) of cash, which has been ring-fenced to support mutares' robust business plan to build on PIXmania's pure ecommerce operations and for the ongoing funding of the business.

Barclays Capital Overweight 49.86 49.82 62.00 62.00 Reiterates

Trading Statement

Dixons Retail plc, one of Europe's leading specialist multi-channel electrical retailing and services companies, today announces trading for the period from 1 November 2013 to 4 January 2014.

· The Group delivered a second consecutive year of strong growth over the important Christmas period.
· UK & Ireland like for likes up 5% with further market share gains and a particularly strong post Christmas sale period.
· Well-established multichannel offering with internet-led sales growing by 23%
· Northern Europe like for likes up 2%, trading ahead of its competitors.
· Total sales growth in Greece of +3% driven by our successful wholesale business, with retail like for likes down 8%.
· Group gross margins down 0.5%.
· Completion of the sale of Pixmania confirmed on 31 December 2013, delivering the most significant of the three disposals that streamline the Group.

Investec Buy 48.82 50.40 62.00 - Reiterates

Deutsche Bank Buy 0.00 60.00 60.00 Reiterates

Citigroup Buy 47.11 47.11 60.00 60.00 Reiterates

I think there should be money made here. One of my favourite recovering 'Dogs'.

Yet the sp has been weak over the last couple of days and again so far today. No news out.
2517

Exane BNP Paribas Neutral 44.99 45.65 50.00 53.00 Retains

Cheers skinny I see Beaufort has a 'hold' for DXNS. It looks like the best entry point for a while.
2517

I am hoping that the price does not drop below 200 EMA at 42.

Barclays,Analysts Christodoulos Chaviaras and Claire Huff put a 65p target on Dixons,

Analysts Christodoulos Chaviaras and Claire Huff put a 65p target on Dixons, and said that investors had probably overestimated the threat that AO posed to its business. They said:

Dixons' presentation addresses a number of investors' concerns about the company's market share and marketing position versus AO.com which has attracted a lot of interest recently. Clearly we cannot fully endorse the estimates coming from either Dixons' or OC&C's (commissioned by AO) reports as we cannot verify the data ourselves but in our view the noise caused by AO's intention to float and the associated negative impact on Dixons' share price is overdone. Our analysis shows that Dixons' and AO's prices are similar while Dixons' service levels have been rapidly improving to a very competitive level. In our estimates Dixons gained circa one-third of Comet's lost sales meaning that it has been able to accelerate its market share gains in the white goods market and certainly didn't lose market share due to AO's sales growth. Some sensible checks we did on the facts presented by both Dixons and AO lead to an overall picture which is not very dissimilar to how the two retailers presented it. We do not dismiss AO as a credible competitor in the major domestic appliances [MDA] market and Dixons shouldn't do either, in our view, but we have yet to see any evidence of AO impeding Dixons' growth. The five main points Dixons management highlights in its presentation 1. Dixons is the market leader in UK and Ireland MDA while its market share online is very close to AO's market share. 2. Dixons' MDA online sales have been growing at a faster pace than AO's in the last 3.75 years hence Dixons has actually gained more market share than AO contrary to the bears' beliefs that they have been losing share. 3. Dixons is cheaper than AO in terms of prices and services provided. 4. The strong feedback from Dixons' customers is not very dissimilar to AO's although the two have chosen different sources to draw customer feedback from. 5. Dixons' brand awareness is much higher than AO's and hence customer acquisition costs are lower. In general Dixons claims that its multichannel model is more profitable than a pure online model.

Statement regarding possible merger

Dixons Retail plc ("Dixons") and Carphone Warehouse plc ("Carphone Warehouse")
Statement regarding possible merger of Dixons and Carphone Warehouse
The Boards of Dixons and Carphone Warehouse note the recent speculation and confirm that the two companies are in preliminary discussions regarding a possible merger of Dixons and Carphone Warehouse.
These discussions are at a very preliminary stage and there can be no certainty that a transaction will be forthcoming.
No decision has been reached regarding the structuring of any such merger. Accordingly until further notice, for the purposes of the Code, both Dixons and Carphone Warehouse will be treated as offeree companies.
Consequently, as required by Rule 2.6(a) of the Code each of Dixons and Carphone Warehouse are required, by not later than 5.00 p.m. on 24 March 2014, to either announce a firm intention to make an offer for Carphone Warehouse or Dixons (as appropriate) in accordance with Rule 2.7 of the Code or announce that it does not intend to make such an offer, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. Either deadline may be extended with the consent of the Panel in accordance with Rule 2.6(c) of the Code.
A copy of this announcement will be available at www.dixonsretail.com and www.cpwplc.com by no later than 12 noon (London time) on 25 February 2014.

The content of the websites referred to in this announcement is not incorporated into and does not form part of this announcement.