Northern supermarket chain Wm Morrison was founded in Yorkshire at the end of the 19th century, and in 1967 became a listed company. After acquiring rival Safeway, Morrison became the fourth largest supermarket chain in the UK but struggled to integrate the stores.
Morrison (Wm) Supermarkets Plc Ord 10P is listed on the London Stock Exchange trading with ticker code MRW.L, and is part of the Household Utilities sector. It has a market capitalisation of £561,158m, with approximately 2,368m shares in issue. Over the last year, Morrison (Wm) Supermarkets Plc share price has been traded in a range of 3.51, hitting a high of 22.31, and a low of 18.80.
Morrison (Wm) Supermarkets Plc, officially known as Morrison (Wm) Supermarkets Plc Ord 10P was formed in January of 1940, making the company seventy nine years old. The company filed its latest accounts on 31st January 2015, showing a turnover of approximately 16.82 billion GBX with gross profits of 761.00 million, or 0.3213 per issued share, and a pre-tax profit margin of -4.71%. Morrison (Wm) Supermarkets Plc currently has 8 directors, and has had 26 previous directors over the last 79 years. In the last set of accounts produced by Pricewaterhousecoopers Llp, the company showed 1.97 billion paid in salaries to the 119,778 staff (average wage of 16 thousand), with the directors receiving an average 534 thousand each. In the accounts filed in 2015, the company paid 308000000 in dividends, or 0.1301 per share. These accounts also showed Morrison (Wm) Supermarkets Plc to have a net worth of 3.07 billion, with 241.00 million held in cash.
Morrison (Wm) Supermarkets Plc is in the Household Utilities sector.
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|Shares in Issue||2,368m|
|52 Week High||22.31|
|52 Week Low||18.80|
WM Morrisons Supermarkets is a Hold at the current level as after going through its share of correction, it seems that now the stock is ready to take off. The stock finished trading on the London Stock exchange at 235p a share on 26th September, up by 0.26% compared to the previous close. The stock confirmed the head and shoulders pattern, a few days back as it had broken the neckline at 242p and has come down up to the low of 228p respectively. However, it seems that the stock is done with its correction and has been consolidated as well. It has also breached the downward trend line and has been going up. The immediate support and resistance for the stock is at 231p and 240p respectively. In the last trading session, the stock has had made a spinning top doji candlestick pattern which indicates indecisiveness amongst the traders and investors. (Read more)
WM Morrisons Supermarkets Plc. is a compelling ‘Buy’ at the current levels as the stock promises huge upside at the current level. In terms of valuation or fundamental analysis, the stock seems slightly underpriced at the current level and has a potential to promise lucrative returns to the investors. The stock finished trading on the London Stock exchange at 239.6p a share on 15th March, up by 1.96% compared to previous close. The stock has been in uptrend since last 3 days and it seems that the stock shall continue rising on the coming days as well. Therefore, traders or investors can initiate fresh longs at the current level for the lucrative returns. Currently, the stock has been trading above its 100 day moving average (DMA) and below 20 DMA and 50 DMA of 232p, 241p and 243p respectively. In terms of charting techniques or technical analysis, we see the stock heading towards 250p very soon. The stock might face resistance at its 20 DMA and 50 DMA respectively and the support is at 232p. However, in case the stock breaches the moving averages resistance then it may go post 250p as well. Therefore, traders need to keep a close eye at the respective levels and accordingly should hedge their positions. (Read more)
WM Morrison Supermarkets is a ‘Hold’ at the current levels as the stock has shown a spectacular rally in the last few trading sessions. The company announced its half yearly 2016 results a few days back on 15th September, and the investors cheered the results on the street as the stock rallied by over 4% the same day and is still rising. (Read more)