Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 707.80p
Change Today:
10.40p
Market Cap:
7,237m
Sector:
Household Goods & Home Construction

Selloff in housebuilding sector presents opportunities, says Citi

By Michele Maatouk

Date: Tuesday 26 Oct 2021

LONDON (ShareCast) - (Sharecast News) - The recent selloff in the housebuilding sector presents opportunities with significant growth and yield attractions, Citi said in a note on Tuesday.
The bank noted that inflationary pressures, supply chain challenges and the impact of potential rate hikes have dominated investor concerns recently.

"This despite the sector's resilient operating performance and robust demand trends, outweighing an ambitious medium term growth trajectory with average annualised net asset growth projected at circa +14% per annum for 2022- 23e," it said.

"The current valuation of a P/B of 1.4x for CY22e reflects a discount of over 25% to implied multiples on our estimates and offers investors significant value over the medium term."

Citi said housebuilders with strong medium-term growth targets, namely Barratt, Bellway and Taylor Wimpey remain its preferred picks. It also has buy ratings on Persimmon, Berkeley Group and Redrow.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BDEV Market Data

Currency UK Pounds
Price 707.80p
Change Today 10.40p
52 Week High 794.80p
52 Week Low 583.40p
Volume 651,308
Shares Issued 1,022.46m
Market Cap 7,237m
Beta 1.34

Performance Indicators

Compare performance with the sector and the market.

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Operating Margin
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What The Brokers Say

Strong Buy 15
Buy 1
Neutral 3
Sell 0
Strong Sell 0
Total 19
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BDEV Dividends

  Latest Previous
  Final Interim
Ex-Div 30-Sep-21 15-Apr-21
Paid 09-Nov-21 10-May-21
Amount 21.90p 7.50p

Trades for 01-Dec-2021

Time Volume / Share Price
14:56 151 @ 707.80p
14:56 190 @ 707.60p
14:56 34 @ 707.60p
14:56 370 @ 707.80p
14:56 196 @ 707.80p

BDEV Key Personnel

COO Steven J Boyes
Chair John Allan