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Prices & Quotes - UK Markets - MJ Gleeson (GLE)

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 768.00p
Change Today:
22.00p
Market Cap:
447.79m
Sector:
Construction & Materials

Liberum backs housebuilders, names Persimmon and Taylor Wimpey top picks

By Abigail Townsend

Date: Monday 05 Jul 2021

LONDON (ShareCast) - (Sharecast News) - Liberum has named Persimmon and Taylor Wimpey as two of its top picks, after a recent sell-off created an "attractive" buying opportunity among housebuilders.
In a note published on Monday, the broker said it saw "material upside in Persimmon and Taylor Wimpey", both of which have 'buy' ratings and price targets of 3,400p and 195p respectively.

It continued: "The recent sell-off offers an attractive buying opportunity. We expect a further round of upgrades in the next month to be a catalyst for the sector. Positive updates from the six housebuilders scheduled to report in the next month should reassure investors that trading remains strong, and the Stamp Duty holiday has not been the main driver of demand.

"We continue to find good value in the sector, as it now trades 1.7x 12-month forward price to net asset value compared to 2.1x before the pandemic. We favour Persimmon and Taylor Wimpey among the large caps, but find value more widely in the smaller householders.

"We forecast earnings to increase by 6% per annum in 2021-24, with a dividend yield of 6% in December 2022."

Among the smaller housebuilders, Liberum flagged Bellway, MJ Gleeson, Redrow and Vistry. All have 'buy' recommendations, with price targets of 4,075p, 1,060p, 800p and 1,530p, respectively.

Liberum has 'hold' ratings on Berkeley and Crest Nicholson, and a 'buy' recommendation on Barratt Developments.

Vistry, Persimmon, MJ Gleeson, Barratt, Taylor Wimpey and Bellway are all due to post updates in the coming weeks.

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

 

MJ Gleeson Market Data

Currency UK Pounds
Price 768.00p
Change Today 22.00p
52 Week High 900.00p
52 Week Low 714.00p
Volume 13,019
Shares Issued 58.31m
Market Cap 447.79m
Beta 0.04

Performance Indicators

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Operating Margin
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What The Brokers Say

Strong Buy 5
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 6
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

MJ Gleeson Dividends

  Latest Previous
  Final Interim
Ex-Div 28-Oct-21 04-Mar-21
Paid 22-Nov-21 06-Apr-21
Amount 10.00p 5.00p

Trades for 17-Jan-2022

Time Volume / Share Price
16:15 49 @ 760.00p
15:46 483 @ 748.00p
15:35 393 @ 755.36p
15:35 4 @ 750.00p
15:35 500 @ 750.00p

MJ Gleeson Key Personnel

CFO Stefan Allanson
CEO James Thomson