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Delayed Quote. Delayed London Stock Exchange - 03/31 07:06:28 am
75.615 GBp   -2.37%
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Analysis summary4-Traders Strategies 

Debenhams : The GBp 80.7 support area is tested

03/15/2013 | 04:31am
Opinion : Bullish above GBp 80.7
Target price : GBp 90.5
Stop loss: GBp 78.1
Department Stores

The GBp 80.7 support area, currently tested, might facilitate a technical rebound. The company’s fundamentals could validate this scenario.

From a fundamental viewpoint, Debenhams is undervalued in terms of enterprise value. Based on the current price, its market capitalization, minus its net debt, represents 0.54 times its revenues. The PER ratio is only 8.36 and 7.94 times the two next years earnings.

The security follows a downward trend in the short and mid term. However, the selling pressure could run out of steam soon. Indeed, while the stock shows an oversold condition on a couple of technical indicators, the bullish trend line and the 100-week moving average should provoke a reversal towards the GBp 90.5 short term resistance.

So as to make the most of a potential technical rebound of Debenhams, it seems opportune to take a long position at the current price. The first objective will be set at GBp 90.5. Once this resistance crossed the security could reach the GBp 96.2 resistance. Investors should not insist under GBp 80.7 and are better to place a stop loss order under this threshold.

Debenhams : Debenhams : The GBp 80.7 support area is tested

© 2013

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Financial Ratios

Size 2015e 2016e
Capitalization 950 M GBP -
Entreprise Value (EV) 1 282 M GBP 1 252 M GBP
Valuation 2015e 2016e
PER (Price / EPS) 10,6x 10,0x
Capitalization / Revenue 0,33x 0,32x
EV / Revenue 0,45x 0,42x
EV / EBITDA 5,37x 5,04x
Yield (DPS / Price) 4,40% 4,55%
Price to book (Price / BVPS) 1,18x 1,11x
Profitability 2015e 2016e
Operating Margin (EBIT / Sales) 4,61% 4,70%
operating Leverage (Delta EBIT / Delta Sales) 0,13x 1,72x
Net Margin (Net Profit / Revenue) 3,17% 3,23%
ROA (Net Profit / Asset) 4,50% 4,57%
ROE (Net Profit / Equities) 11,1% 11,1%
Rate of Dividend 46,7% 45,5%
Balance Sheet Analysis 2015e 2016e
CAPEX / Sales   4,45% 4,32%
Cash Flow / Sales (Taux d'autofinancement) 11,8% 15,0%
Capital Intensity (Assets / Sales) 0,70x 0,71x
Financial Leverage (Net Debt / EBITDA) 1,39x 1,21x
Income Statement Evolution
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EPS Revisions
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