logo-loader

Week Ahead: Housing stocks looking to shrug off concerns

Published: 06:30 15 Jun 2014 BST

housing_350_539b14d077ef0

Housing related stocks took a bashing last week after the Chancellor of the Exchequer threatened moves to pop the housing bubble.

That sent shares in tool-hire and equipment rental firm Ashtead tumbling, so Tuesday’s finals represent a chance to regain some lost ground.

Peel Hunt reckons trading in the fourth quarter of the financial year should have seen a broad continuation of the positive volume and pricing trends seen in previous quarters.

“Investor focus will be firmly on guidance. Our 2015 estimates look for 16% Sunbelt revenue growth (12% volume and 4% yield) with a modest rise in EBITDA margins to 45.9%. Therefore, recent peer comments (United Rentals) suggest scope for further EPS momentum,” the broker reckons.

The market is expecting pre-tax profit of £365mln on revenue of £1.6bn.

Later in the week London and south-east focused house builder Berkeley Group is expected to announce full-year pre-tax profits of £365mln on turnover of £1.67bn.

Significant announcements expected

Monday 

Companies: Finals: Majestic Wine (LON:MJW), Picton Property Income (LON:PCTN), Sirius Real Estate (LON:SRE).

Economic: UK: BOE Quarterly Bulletin, Rightmove HPI. EU: CPI, Core CPI, German Buba Monthly Report. US: Empire State Manufacturing Index, TIC Long-Term Purchases, Capacity Utilization Rate, Industrial Production, NAHB Housing Market Index.

Tuesday

Companies: Finals: Ashtead Group (LON:AHT). Consort Medical (LON:CSRT), Daisy Group (LON:DAY), Software Radio Technology (LON:SRT), Trifast (LON:TRI). Interims: Crest Nicholson Holdings (LON:CRST). Trading Statement: JD Sports Fashion (LON:JD.), Whitbread (LON:WTB).

Economic: UK: PPI Input, CPI, RPI, Core CPI, HPI, PPI Output. EU: Italian Trade Balance, German ZEW Economic Sentiment, ZEW Economic Sentiment. US: Building Permits, Core CPI, CPI, Housing Starts.

Wednesday

Companies: Finals: Berkeley Group Holdings (The) (LON:BKG), ReNeuron Group (LON:RENE). Trading Statement: Brown (N) Group (LON:BWNG). Interims: LXB Retail Properties (LON:LXB).

The following widely-held stocks are trading ex-dividend on Wednesday: United Utilities, Severn Trent, Land Securities, 3i Group

Economic: UK: MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes. EU: Italian Retail Sales. US: Current Account, FOMC Economic Projections, FOMC Statement, Federal Funds Rate, FOMC Press Conference.

Thursday

Companies: Finals: Darty (LON:DRTY), Infinis (LON:INFI), Micro Focus International (LON:MCRO), Norcros (LON:NXR). Trading Statement: Go-Ahead Group (The) (LON:GOG).

Economic: UK: Retail Sales, CBI Industrial Order Expectations. US: Unemployment Claims, Philly Fed Manufacturing Index, CB Leading Index.

Friday

Companies: Finals: Polar Capital Holdings (LON:POLR). Trading Statement: Debenhams (LON:DEB), St Ives (LON:SIV).

Economic: UK: Public Sector Net Borrowing. EU: German PPI, Current Account, Consumer Confidence.

Chesnara reports strong 2023 results with improved cash generation and...

Chesnara PLC (LSE:CSN) chief executive Steve Murray discusses the company's full-year results for 2023 with Proactive's Stephen Gunnion, describing them as strong and particularly highlighting £53 million in commercial cash generation and a dividend coverage of around 150%. The company has...

1 hour, 57 minutes ago