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Prices & Quotes - UK Markets - Persimmon (PSN)

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 3,167.00p
Change Today:
11.00p
Market Cap:
10,106m
Sector:
Household Goods & Home Construction

Persimmon weakness a buying opportunity ahead of update, says JPM

By Michele Maatouk

Date: Thursday 05 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Housebuilder Persimmon rallied on Thursday as JPMorgan Cazenove argued that recent weakness provides a buying opportunity ahead of trading update next week, which it expects to be a positive catalyst, and said it was still its "top idea" in the UK housebuilding sector.
The bank noted that Persimmon's share price has outperformed the UK housebuilding sector by 23% year-to-date, but has lagged the sector over the last two months.

"In our view, this presents a buying opportunity ahead of the trading update next week, with the group's valuation on 8.8x 2021E adjusted price-to-earnings, at a discount to the sector average of 10.2x and its historical average of 10.5x."

It lifted its adjusted pre-tax profit forecast to 860m from 820m previously, putting it 2% ahead of consensus.

JPM's expectations for the update next week are an upgrade to conservative guidance, reinstatement of the remainder of the 2019 dividend and some moderation yet a solid trend in the sales rate, which had significantly improved over the summer.

JPM rates Persimmon at 'overweight' with a 3,210p price target.

At 1225 GMT, the shares were up 2.5% at 2,529p.

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

 

Persimmon Market Data

Currency UK Pounds
Price 3,167.00p
Change Today 11.00p
52 Week High 3,210.00p
52 Week Low 2,049.00p
Volume 82,106
Shares Issued 319.09m
Market Cap 10,106m
Beta 0.02

Performance Indicators

Compare performance with the sector and the market.

Key
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Value
market
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Price Trend
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Income
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Growth
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Price Chg 6m
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P/E
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PEG
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Dividend Yield
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EPS Growth
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Operating Margin
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sector
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What The Brokers Say

Strong Buy 14
Buy 1
Neutral 5
Sell 0
Strong Sell 0
Total 20
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Persimmon Dividends

  Latest Previous
  3rd Interim 2nd Interim
Ex-Div 11-Mar-21 26-Nov-20
Paid 26-Mar-21 14-Dec-20
Amount 125.00p 70.00p

Trades for 23-Apr-2021

Time Volume / Share Price
11:37 60 @ 3,167.00p
11:37 12 @ 3,167.00p
11:37 100 @ 3,167.00p
11:36 2 @ 3,166.00p
11:36 58 @ 3,167.00p

Persimmon Key Personnel

Chair Roger Devlin