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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 3,147.00p
Change Today:
72.00p
Market Cap:
10,042m
Sector:
Household Goods & Home Construction

UBS downgrades Crest Nicholson, Persimmon

By Michele Maatouk

Date: Thursday 18 Mar 2021

LONDON (ShareCast) - (Sharecast News) - UBS downgraded its stance on shares of Persimmon and Crest Nicholson on Thursday as it took a look at the UK housebuilding sector.
The bank cut Persimmon to 'neutral' from 'buy' and Crest Nicholson to 'sell' from 'neutral', reducing the target prices to 2,915p from 3,070p and to 315p from 320p, respectively.

For Persimmon, it said the risk/reward is now more balanced after the stock delivered a more than 20% total shareholder return since the start of 2020. "Shares trade at a considerable premium on P/TNAV of 2.75x (sector 1.6x) which reflects substantially higher returns," it said.

"While we like Persimmon's attractive margin and return profile, we think the shares no longer prices in a material erosion of this and therefore we think the stock fairly reflects these superior returns."

Meanwhile, UBS said Crest Nicholson looks expensive, in particular relative to other mid-caps, and "seems to more than price in a margin recovery towards the peer average despite execution risk".

UBS said it remains positive on the sector overall and continues to think there is upside, although it is more limited at around 15% on average after the recent rally. The bank's top picks are Berkeley Group, Redrow and Taylor Wimpey. UBS also has 'buy' ratings on Vistry Group, Barratt Developments and Bellway.

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 3,147.00p
Change Today 72.00p
52 Week High 3,210.00p
52 Week Low 2,049.00p
Volume 514,274
Shares Issued 319.09m
Market Cap 10,042m
Beta 0.02

Performance Indicators

Compare performance with the sector and the market.

Key
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Value
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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 13
Buy 1
Neutral 5
Sell 0
Strong Sell 0
Total 19
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 14-May-2021

Time Volume / Share Price
16:35 200,898 @ 3,147.00p
16:29 6 @ 3,155.00p
16:29 7 @ 3,155.00p
16:29 3 @ 3,155.00p
16:29 89 @ 3,155.00p

Persimmon Key Personnel

Chair Roger Devlin