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Prices & Quotes - UK Markets - Ibstock (IBST)

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 228.60p
Change Today:
-5.40p
Market Cap:
936.26m
Sector:
Construction & Materials

Ibstock slumps after Deutsche Bank downgrade

By Michele Maatouk

Date: Monday 02 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Brickmaker Ibstock was under the cosh on Monday after Deutsche Bank downgraded its stance on the shares to 'hold' form 'buy' and cut the price target to 168p from 183p.
The bank said it was reducing its 2020 and 2021 pre-tax profit forecasts, target price and rating following the recent trading update.

"Although the shares do not look expensive (2021E EV/EBITDA 8.2x), we believe they are up with events," it said.

Deutsche Bank added that it continues to expect the group to reintroduce dividends from the 2021 interim stage, using 2.1x cover.

In an update last week, Ibstock forecast annual core earnings of 50m after reporting better-than-expected third-quarter trade as demand continued to improve after the Covid-19 lockdown.

The company said revenue in the three months to September 30 was at 88% of 2019 levels. Clay and concrete volumes had recovered to around 90% of prior-year levels in September and remained at these levels during the month of October.

At 1055 GMT, the shares were down 5.6% at 151.60p.

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

 

Ibstock Market Data

Currency UK Pounds
Price 228.60p
Change Today -5.40p
52 Week High 242.40p
52 Week Low 143.10p
Volume 391,330
Shares Issued 409.56m
Market Cap 936.26m

Performance Indicators

Compare performance with the sector and the 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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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 7
Sell 0
Strong Sell 0
Total 11
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ibstock Dividends

  Latest Previous
  Final Special
Ex-Div 15-Apr-21 15-Aug-19
Paid 14-May-21 20-Sep-19
Amount 1.60p 5.00p

Trades for 15-Jun-2021

Time Volume / Share Price
10:09 700 @ 228.60p
10:09 1 @ 228.80p
10:09 337 @ 228.80p
10:09 377 @ 228.80p
10:09 577 @ 228.80p

Ibstock Key Personnel

Chair Jonathan C Nicholls
CEO Joe Hudson
CFO Chris McLeish