Home
News
- 1 NXT stock price: the bulls are in an uptrend after taking the support of the 50-day EMA.
- 2 The company has recovered from the COVID pandemic as it resumed its dividends.
- 3 The MACD and RSI indicators suggest a bullish trend. Check the article below for a price prediction.
Next Plc (LON: NXT) is a listed company on the London Stock Exchange that owns and operates retail stores. It offers fashion accessories for men, women, and children, as well as homewares. This company has several business segments which include, NEXT Retail, NEXT Online, NEXT Finance, NEXT International Retail, NEXT Sourcing, Lipsy, and Property Management.
The recovery after the COVID-19 pandemic
The firm’s financial performance has been noteworthy in recent years, with consistent revenue growth, except for the year 2020, which was a challenging year for all businesses due to the pandemic outbreak. However, the company managed to stand strong in the storm and reported sales of over £5.03 Billion in its last annual report of January 2023.
Despite the challenging circumstances of the COVID phase, the company has recovered up to a healthy gross margin of 43% and an Earnings before Interest and Taxes (EBIT) margin of 17%. It indicates sound financial management and operational efficiency. This enabled the firm to generate a net income of £711 Million in the financial year that ended in January 2023.
The return on dividends
Next PLC also resumed giving dividends after 2020. In 2021, it gave a dividend per share of £1.27, which accumulated a dividend yield of 1.68%. These numbers were increased in 2022, by £2.06 and 3.1% respectively.
Technical Analysis and Prediction of NXT Stock Price
The NXT stock has been in an uptrend since the 200-day EMA supported the price levels during April 2023. As of this writing, the NXT stock price is trading at the level of £7350. Its immediate resistance is £7586 and its immediate support level is £7004.
The stock is likely to remain in an uptrend as it is currently trying to break past its immediate resistance. Beyond the mentioned levels, the 2nd support is £6534 and the the 2nd resistance is £8232.
Indicators like RSI and MACD have given a bullish signal as they both are in an uptrend after making crossovers with their moving averages. Keeping everything together, the NXT stock price prediction is bullish if the stock breaks past the current resistance level.
Conclusion
Next Plc (LON: NXT) owns and operates retail stores. This company offers fashion accessories for men, women, and children, as well as homewares. The company has recovered after the pandemic as it has started giving dividends and its revenue growth has resumed. NXT stock’s price is trading at £7350, with a bullish trend. The prediction for the NXT stock price is bullish given the condition of breaking past the immediate resistance level.
Technical Levels
Support: £7004 and £6534
Resistance: £7568 and £8232
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
With a background in journalism, Ritika Sharma has worked with many reputed media firms focusing on general news such as politics and crime. She joined The Coin Republic as a reporter for crypto, and found a great passion for cryptocurrency, Web3, NFTs and other digital assets. She spends a lot of time researching and delving deeper into these concepts around the clock, and is a strong advocate for women in STEM.
