Berkeley Group Holdings (The) (BKG)

Sector:

Household Goods

Index:

FTSE 100

4,275.00p
   
  • Change Today:
      9.00p
  • 52 Week High: 4,457.00
  • 52 Week Low: 3,165.00
  • Currency: UK Pounds
  • Shares Issued: 108.44m
  • Volume: 223,276
  • Market Cap: £4,635.61m
  • RiskGrade: 234
  • Beta: 0.04

Berenberg remains 'cautious' on UK housebuilders

By Iain Gilbert

Date: Friday 25 Nov 2022

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg took a fresh look at a number of UK housebuilders on Friday, reiterating its 'cautious view' on the sector.
Berenberg stated that as a result of "further declines in affordability", it had lowered its base-case forecasts for the UK housing market and cut pre-tax profit forecasts by roughly 40%, on average.

"Importantly, we do not expect the sector-wide trough in earnings to occur until 2024," said Berenberg. "Indeed, we do not yet believe that company valuations are attractive enough for us to turn more positive on the sector and we maintain just two 'buy' ratings, primarily for stock-specific reasons."

The German bank said Berkeley was still its 'top pick' in the sector, reiterating its 'buy' rating on the stock and 4,500.0p target price. "Despite reducing our base UK housing market volume and price assumptions, we leave our forecasts for Berkeley unchanged. We think that the company can meet its multi-year PBT and capital return targets despite tougher market conditions," said Berenberg.

Berenberg also kept its 'buy' rating on MJ Gleeson, but cut its price target to 470.0p to reflect "a more challenging trading outlook". "While we note that MJ Gleeson is not immune from the current market headwinds, we believe that its lower selling point and growth opportunity present midterm attractions," said the analysts.

Berenberg stayed at 'hold' on Barrat Developments, Bellway, Crest Nicholson, Persimmon, Redrow, Taylor Wimpey, and Vistry.





Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

BKG Market Data

Currency UK Pounds
Share Price 4,275.00p
Change Today 9.00p
% Change 0.21 %
52 Week High 4,457.00
52 Week Low 3,165.00
Volume 223,276
Shares Issued 108.44m
Market Cap £4,635.61m
Beta 0.04
RiskGrade 234

BKG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
32.59% below the market average32.59% below the market average32.59% below the market average32.59% below the market average32.59% below the market average
69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average69.23% below the sector average
Price Trend
36.02% above the market average36.02% above the market average36.02% above the market average36.02% above the market average36.02% above the market average
55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average55.56% above the sector average
Income
36.08% above the market average36.08% above the market average36.08% above the market average36.08% above the market average36.08% above the market average
4.76% above the sector average4.76% above the sector average4.76% above the sector average4.76% above the sector average4.76% above the sector average
Growth
73.69% below the market average73.69% below the market average73.69% below the market average73.69% below the market average73.69% below the market average
61.54% below the sector average61.54% below the sector average61.54% below the sector average61.54% below the sector average61.54% below the sector average

What The Brokers Say

Strong Buy 4
Buy 5
Neutral 4
Sell 3
Strong Sell 0
Total 16
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

BKG Dividends

  Latest Previous
  Interim 2nd Interim
Ex-Div 18-Aug-22 04-Mar-21
Paid 09-Sep-22 19-Mar-21
Amount 21.25p 9.13p

Trades for 07-Feb-2023

Time Volume / Share Price
16:45 28 @ 4,262.00p
16:45 28 @ 4,262.00p
16:35 154,493 @ 4,275.00p
16:35 360 @ 4,275.00p
16:35 325 @ 4,275.00p

BKG Key Personnel

CEO Robert C G Perrins
Finance Director Richard Stearn

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