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Prices & Quotes - UK Markets - Persimmon (PSN)

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Share Price:
2,764.00p
Change Today:
0.000p
Market Cap:
8,819m
Sector:
Household Goods & Home Construction

Canaccord predicts recovery for UK housebuilders

By Sean Farrell

Date: Wednesday 02 Dec 2020

LONDON (ShareCast) - (Sharecast News) - Bellway, Crest Nicholson and Redrow look particularly attractive as UK housebuilders profits start to recover from the Covid-19 crisis, Canaccord Genuity said.
After a strong recovery in the summer the sector is ending 2020 with good momentum and has shown it can operate well during lockdowns, Canaccord analyst Aynsley Lammin said.

Margins and returns will not reach pre-pandemic levels in 2021 but there is no reason why they should not do so in the medium term, Lammin said. Balance sheets are strong and dividends and dividends are expected to restarted in 2021.

"We expect 2021 to be a year of significant profit recovery with volumes being much closer to normalised levels and pricing firm," Lammin said.

He picked Bellway, Crest Nicholson and Redrow as the best growth prospects among midsized builders along with Vistry and said Berkeley and Persimmon offer decent growth and attractive dividend yields with less risk. Barratt and Taylor Wimpey are well placed for a good recovery and to restart dividends in 2022, Lammin said.

After gaining 24% in the past month the sector is down 22% in 2020 with a dividend yield of about 4.5%, Lammin estimated.

"Rising unemployment as well as a tightening mortgage market and the potential impact on confidence and demand remain the key risks, but we also expect government policy to be supportive and reactive if necessary," Lammin said.

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Persimmon Market Data

Currency UK Pounds
Price 2,764.00p
Change Today 0.000p
52 Week High 3,078.00p
52 Week Low 1,534.50p
Volume 0
Shares Issued 319.08m
Market Cap 8,819m
Beta 0.03

Performance Indicators

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What The Brokers Say

Strong Buy 15
Buy 0
Neutral 3
Sell 0
Strong Sell 0
Total 18
strong_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
  2nd Interim Interim
Ex-Div 26-Nov-20 27-Aug-20
Paid 14-Dec-20 14-Sep-20
Amount 70.00p 40.00p

Trades

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Persimmon Key Personnel

Chair Roger Devlin