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Prices & Quotes - UK Markets - Redrow (RDW)

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:
Down 634.40p
Change Today:
-18.40p
Market Cap:
2,234.30m
Sector:
Household Goods & Home Construction

Redrow interims to be catalyst for shares, JP Morgan says

By Sean Farrell

Date: Wednesday 03 Feb 2021

LONDON (ShareCast) - (Sharecast News) - Redrow's first-half results will help the company's shares narrow the gap with the rest of the UK housebuilders, JP Morgan said.


The company underperformed its peers in 2020 and so far in 2021 leaving it trading at a 30% discount by price to tangible net asset value, JP Morgan said. This is despite a return profile similar to the rest of the sector.

Results due on 10 February will be solid and the dividend will be reinstated, the bank said. JP Morgan predicted revenue up 21% to 1.05bn, pretax profit of 170m and a gross margin of almost 21%.

JP Morgan analyst Rajesh Patki forecast an interim dividend of 5p a share. He kept his 'overweight' rating on the shares with a price target of 600p - 12% more than the price before Patki published his note.

"We expect H1 results on Feb 10 to be a positive catalyst (solid results with reinstatement of dividend), resulting in narrowing gap vs. the sector," Patki wrote in the note to clients.

Redrow shares rose 4.2% to 557.5p at 12:06 GMT. Patki said there was scope for further earnings upgrades to forecasts for 2022/23.

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

 

Redrow Market Data

Currency UK Pounds
Price 634.40p
Change Today -18.40p
52 Week High 712.00p
52 Week Low 361.20p
Volume 764,440
Shares Issued 352.19m
Market Cap 2,234.30m

Performance Indicators

Compare performance with the sector and the market.

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Income
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Dividend Yield
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Operating Margin
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What The Brokers Say

Strong Buy 10
Buy 0
Neutral 1
Sell 1
Strong Sell 0
Total 12
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Redrow Dividends

  Latest Previous
  Interim Interim
Ex-Div 25-Feb-21 n/a
Paid 09-Apr-21 n/a
Amount 6.00p 0.000p

Trades for 18-Jun-2021

Time Volume / Share Price
16:57 150 @ 634.40p
16:47 1,854 @ 634.40p
16:46 150 @ 634.40p
16:35 356,405 @ 634.40p
16:29 403 @ 633.00p

Redrow Key Personnel