Berkeley Group and Crest Nicholson upgraded despite Grenfell Tower levy
There are many reasons for investors to be bearish on the sector but equally, there is "no need for bears to hibernate", according to Deutsche Bank
Company
Crest Nicholson PLC
LON:CRST
Crest Nicholson is a leading residential developer operating in the Southern half of England with an emphasis on creating well designed homes in sustainable communities. The Group has a wide product range, varying from homes for first time buyers through to large family homes, and includes a mixture of houses, apartments and supporting commercial premises as part of its larger developments. The Group, which has established a brand over 50 years also has a history of 39 years’ on the Official List and trading on the London Stock Exchange’s main market between 1968 and 2007. The Group re-listed on the London Stock Exchange in 2013.
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Builders and building materials
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Barclays Capital weighed in with two upgrades and a downgrade
Shell, Crest Nicholson, Marks & Spencer and many more could benefit from rising bond yields
European equities have historically had a positive correlation with US bond yields, UBS noted, while analysts at Berenberg have looked at who might benefit most
Can't afford a second home? Buy shares in a housebuilder instead
Crest Nicholson was the latest in a long line of housebuilders to report robust trading. So long as there are votes in boosting house prices, the sector is likely to remain a good long-term investment.
Crest Nicholson upgraded as Jefferies says UK housebuilders a strong play in post-pandemic recovery
The broker said the company was seeing a “strong selling rate” and that a “more upbeat view on the underlying margin of the land bank” had driven “meaningful upgrades”
Builders and building materials
Crest Nicholson ups profit target as housing market stays strong
“As of 22 March, our order book is over 70% covered for FY21, up from 55% as reported at our preliminary results in January."
Builders and building materials
Crest Nicholson in red after write-off on London sites
The housebuilder will only buy renewably-generated electricity from 2025
Builders and building materials
Crest Nicholson says results will top market forecasts, to reinstate dividend
The builder’s portfolio is concentrated in Southern England and the commuter belt to major towns and cities
Builders and building materials
Crest Nicholson impairment charge not a read-through for housebuilding sector, says UBS
“We think Crest may have taken a somewhat more cautious approach"
Builders and building materials
Crest Nicholson subsides after crashing to first half loss
The company swung to a £51.2mln loss compared to a £64.4mln profit a year ago as the pandemic forced the housebuilding sector into lockdown
Archive
Crest Nicholson to unveil interims on Wednesday
The mid-point of the week will also include final results from Mr Kipling and Bird's custard owner Premier Foods
Builders and building materials
Crest Nicholson to resume work next week after new government guidance
All the housebuilder’s sites and operations have been shut since early April
Builders and building materials
Plunging shares in housebuilders offer “significant opportunity”
Earlier on Thursday, Crest Nicolson was one of the first housebuilders to put its head above the parapet since the government announced plans for a coronavirus lockdown
Builders and building materials
Crest Nicolson pulls dividend to prepare for coronavirus lockdown
The housebuilder said it considered it was “prudent to protect the company's cash position and maintain a robust balance sheet”
Builders and building materials
Crest Nicholson profits subside 28% as key numbers all fall
New boss Peter Truscott unveiled new 2022 targets, including increasing the operating profit margin and maintaining the dividend this coming year and then increasing it by RPI in the next two years
Builders and building materials
Crest Nicholson offers "hidden value", says Liberum
The broker resumed coverage with a target price of 379p, making the shares a ‘buy’ on its rating system
Builders and building materials
UBS cuts Crest Nicholson, to 'neutral', says decline more severe than estimated
While the latest profit warning may not have come as a complete surprise given the change in management, the quantum of the downgrade was nevertheless surprising"
Builders and building materials
Crest Nicholson Holdings issues profit warning, only expects pick up in 2021
A 33p dividend will still be paid next year provided “the business does not see a significant deterioration in trading conditions”
Housebuilders' pay big yields but do they offer value any more?
“Given the attractive yields on offer, the question of sustainability becomes more hazy the further out you look”
Builders and building materials
Crest Nicholson profits fall but shares gain as it maintains guidance
Following a slowdown in London and the south-east, the housebuilder has been focusing more on partnerships and joint ventures