Berkeley Group Holdings (The) (BKG)

Sector:

Household Goods

Index:

FTSE 100

4,426.00p
   
  • Change Today:
    -180.00p
  • 52 Week High: 5,552.08p
  • 52 Week Low: 4,256.25p
  • Currency: UK Pounds
  • Shares Issued: 101.94m
  • Volume: 560,193
  • Market Cap: £4,511.82m
  • RiskGrade: 234

JPMorgan remains 'cautious' of UK housebuilders

By Iain Gilbert

Date: Tuesday 18 Apr 2023

LONDON (ShareCast) - (Sharecast News) - Analysts at JPMorgan said on Tuesday that they were still "cautious" of the UK housebuilding sector despite it outperforming the market year-to-date.
JPM reckons the sector's valuation has "run ahead of itself", with early signs of moderation in confidence and stabilisation in demand.

"We remain cautious as we see 160 basis point downside to consensus operating margins and scope for some downside for current demand," said JPM, which cut its 2024/25 pre-tax profit estimates by 9% and 5%, respectively.

The analysts said the continue to see the midcap valuations as "particularly rich" versus the wider sector and reiterated its 'underweight' rating on Vistry, Crest Nicholson, and Redrow. JPM also noted that the largest downside on 2023 estimates was at Crest Nicholson and Taylor Wimpey, leading it to place both of the stocks on its "Negative Catalyst Watch".

JPM's preference in the sector remains for Berkeley, Persimmon, and Bellway, all of which have 'overweight' ratings.

"In our view, Persimmon's underperformance last year and YTD has de-risked the equity story as the Street expects significantly larger margin decline (10%pts vs 6%pts for the sector) and place the stock on Positive Catalyst Watch into Q1 update on Apr 26," concluded JPM.







Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:


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 4,426.00p
Change Today -180.00p
% Change -3.91 %
52 Week High 5,552.08p
52 Week Low 4,256.25p
Volume 560,193
Shares Issued 101.94m
Market Cap £4,511.82m
RiskGrade 234

BKG Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
13.12% above the market average13.12% above the market average13.12% above the market average13.12% above the market average13.12% above the market average
Sector averageSector averageSector averageSector averageSector average
Income Not Available
Growth Not Available

BKG Dividends

  Latest Previous
  Final Special
Ex-Div 27-Jun-24 05-Sep-24
Paid 26-Jul-24 20-Sep-24
Amount 33.00p 174.00p

Trades for 31-Oct-2024

Time Volume / Share Price
17:30 1,514 @ 4,426.41p
16:39 6,830 @ 4,425.97p
16:39 18 @ 4,426.00p
16:39 430 @ 4,426.00p
16:39 430 @ 4,426.00p

BKG Key Personnel

CEO Robert C G Perrins
Finance Director Richard Stearn

Top of Page