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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:
Down 237.60p
Change Today:
-2.40p
Market Cap:
610.44m
Sector:
Household Goods & Home Construction

Deutsche Bank upgrades Crest Nicholson after actions to reduce 'swollen' cost base

By Alexander Bueso

Date: Monday 07 Sep 2020

LONDON (ShareCast) - (Sharecast News) - Analysts at Deutsche Bank upgraded their recommendation for shares of Crest Nicholson from 'hold' to 'buy', pointing to the quick remedial actions executed by management to rein in the homebuilder's swollen cost base.
They also revised their target price for the stock from 202.0p to 250.0p.

"Crest has misfired more often than my 14 year old BMW but its current management team - still relatively new to their seats - has a steely (and welcome) determination about it," analyst Jon Bell said in a research note sent to clients.

Bell estimated that the company's administrative expenses would be slashed by nearly a third by the following year in comparison to their levels of 2019.

The relatively new management team had also managed to consolidate approximately two thirds of their targeted 30m per year in procurement saving by the time of Crest's interims.

"The benefits remain latent, obscured by the market's focus on the pandemic, though should bear fruit in the medium term."



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CRST Market Data

Currency UK Pounds
Price 237.60p
Change Today -2.40p
52 Week High 519.00p
52 Week Low 164.50p
Volume 854,403
Shares Issued 256.92m
Market Cap 610.44m

Performance Indicators

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Income
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Growth
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P/E
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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 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 20-Oct-2020

Time Volume / Share Price
16:35 151,516 @ 237.60p
16:29 1 @ 238.00p
16:29 6 @ 238.00p
16:29 8 @ 238.00p
16:29 247 @ 238.00p

CRST Key Personnel

CEO Peter Truscott
COO Tom Nicholson