Company
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
Redburn’s analysts said: “Popular commentary continues to paint the UK housing market as weak, but we view activity as remarkably resilient considering Brexit uncertainties"
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The US bank adjusted target prices for a number of other sector players, cutting those for Taylor Wimpey, Crest Nicholson PLC, and Bovis Homes, but raising the target for Redrow
The broker said with the housebuilding sector pricing in significant risk after a challenging 2018, it now presents an attractive potential value opportunity
Builders and building materials
The City broker has slashed price targets for almost every UK housebuilder, while it has also downgraded a handful of companies in the sector
Builders and building materials
In a note to clients, the broker upgraded Barratt, Bovis Homes, and Crest Nicholson to ‘Buy’ from ‘Hold’ off what it said was an upside of “at least 20%” if a smooth Brexit materialised
The premier index of UK shares finished down nearly 59 points at 6,980. Mid-cap cousin FTSE 250 shed over 128 points at 18,480.
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Another profit warning from Crest Nicholson plus the previously buoyant East Anglia housing market joining London and the South-East in the doghouse is further evidence the sector has peaked
Builders and building materials
In an effort to address its weak performance, Crest Nicholson announced a new strategy that includes cutting costs, slowing down build rates and reducing land expenditure
The FTSE 250 real estate group reported net rental income in the first half had risen 1.6% to £80.6mln, however pre-tax profit for the period was down to £134mln from £145.8mln
Berenberg has initiated coverage on 11 house-builders and not one of them is a 'sell' in its book
Builders and building materials
After years of riding the gravy train, investors have turned their backs on house-builders this year. They have lots of reasons to do so but have they now become cheap from a historical perspective?
In a statement, Consort - which makes drug delivery devices such as inhalers - said Carclo has also rejected subsequent requests from it for a meeting to discuss its proposal
A look at some of the top risers and fallers in London on Monday
Builders and building materials
Liberum’s Charlie Campbell has kicked off his coverage of the housebuilder with a ‘buy’ rating, claiming that margins are set to stabilise over the coming months
Investments and investor services
The FTSE 100 has clawed back all of this morning's losses and some, while the ECB has unveiled plans to end its quantitative easing programme in December
Builders and building materials
Despite a contrasting set of numbers today from Crest Nicholson and Bellway, there remains similarity regarding the housing markets’ slowdown and its effect on their balance sheets
Builders and building materials
The FTSE 250 housebuilder reported a pre-tax profit for the period of £74.8mln, down from £76.2mln the year before, while revenues rose to £473.8mln from £419.7mln
With the Trump-Kim meeting and various pieces of economic data behind us, all eyes are turning to Parliament, which is set to vote on amendments to the EU Withdrawal Bill today and tomorrow
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The day ahead includes updates from housebuilders Bellway and Crest Nicholson, plus trading news from fashion group Ted Baker and online clothing firm Boohoo.com
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Aside from a first-quarter update from Tesco, the week ahead will include an annual meeting for rival Morrison's, plus the latest US Federal Reserve and ECB policy meetings
