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Prices & Quotes - UK Markets - Crest Nicholson Holdings (CRST)

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 239.00p
Change Today:
1.40p
Market Cap:
614.04m
Sector:
Household Goods & Home Construction

HSBC upgrades Berkeley, expects help-to-buy fillip for housebuilders

By Michele Maatouk

Date: Wednesday 19 Feb 2020

LONDON (ShareCast) - (Sharecast News) - Berkeley Group was the standout gainer on the FTSE 100 on Wednesday as HSBC upped its rating on the stock to 'buy' and said it now has 'buy' ratings on all nine listed housebuilders under coverage.
"The decisive general election result has brought the prospect of a final settlement of Brexit closer and unleashed pent-up demand in housing activity that we are forecasting to induce a full year 2020 3% rise in UK-wide new home sales reservations," it said.

HSBC said it expects the restriction in the government's help to buy equity loan system to first-time buyers from March 2021 to contribute to this rise in the sales rate.

The bank upgraded Berkeley from 'hold' and hiked the price target to 6,620p from 4,540p, saying it's set to deliver the second-highest return on invested capital in the sector. HSBC noted the shares are up 56% since 2019 lows, in-line with sector's 54% rise.

"The current share price, in our view, is not fully pricing-in the improvement in near-term London housing market as well as the wider south East housing market and long-term prospects," it said.

The bank's preferred picks in the sector are Barratt Developments, Bellway, Redrow and Crest Nicholson.

"They all have a majority weighting to southern England, where we expect the impact of the change in our housing market forecasts, and therefore EBIT and invested capital forecasts, to be greatest," it said.

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CRST Market Data

Currency UK Pounds
Price 239.00p
Change Today 1.40p
52 Week High 519.00p
52 Week Low 164.50p
Volume 469,104
Shares Issued 256.92m
Market Cap 614.04m

Performance Indicators

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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 5
Buy 0
Neutral 3
Sell 0
Strong Sell 2
Total 10
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

CRST Dividends

  Latest Previous
  Final Interim
Ex-Div n/a 19-Sep-19
Paid n/a 04-Oct-19
Amount 0.000p 11.20p

Trades for 21-Oct-2020

Time Volume / Share Price
16:35 117,408 @ 239.00p
16:29 5 @ 239.20p
16:29 96 @ 239.60p
16:29 521 @ 239.40p
16:29 48 @ 239.20p

CRST Key Personnel

CEO Peter Truscott
COO Tom Nicholson