Conduit Holdings Limited Com Shs (DI) (CRE)

Sector:

Insurance

 510.00p
   
  • Change Today:
      0.000p
  • 52 Week High: 539.00p
  • 52 Week Low: 430.50p
  • Currency: UK Pounds
  • Shares Issued: 165.24m
  • Volume: 228,296
  • Market Cap: £842.72m

RBC Capital lifts price target on Conduit Holdings

By Michele Maatouk

Date: Friday 23 Feb 2024

LONDON (ShareCast) - (Sharecast News) - RBC Capital Markets lifted its price target on Conduit Holdings on Friday to 650p from 575p and reiterated its 'outperform' rating.
It said the business is showing signs of maturity with an underlying return on equity of around 15% in 2023.

"We expect this to improve to around 17% over 2024e-26e on undiscounted combined ratios in the low-80s," RBC said.

"As it continues to build a track record, we expect the shares to re-rate, while also noting that the Bermudian tax change is less of an overhang now."

The bank said that further re-rating upside should come from delivery of higher returns on equity, possibly closer to the 20% mark of peers, "but understandably its balance sheet and expectations are being prudently managed".

It said the shares still screen as cheap at 0.9x 2024e book.

At 1315 GMT, the stock was up 1.7% at 506p.

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

 

CRE Market Data

Currency UK Pounds
Share Price 510.00p
Change Today 0.000p
% Change 0.00 %
52 Week High 539.00p
52 Week Low 430.50p
Volume 228,296
Shares Issued 165.24m
Market Cap £842.72m

CRE Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
48.82% above the market average48.82% above the market average48.82% above the market average48.82% above the market average48.82% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Price Trend
72.82% above the market average72.82% above the market average72.82% above the market average72.82% above the market average72.82% above the market average
77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average77.78% above the sector average
Income
68.98% above the market average68.98% above the market average68.98% above the market average68.98% above the market average68.98% above the market average
50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average50.00% above the sector average
Growth
34.29% above the market average34.29% above the market average34.29% above the market average34.29% above the market average34.29% above the market average
11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average11.11% above the sector average

CRE Dividends

  Latest Previous
  Final Interim
Ex-Div 21-Mar-24 17-Aug-23
Paid 24-Apr-24 08-Sep-23
Amount 18.00¢ 18.00¢

Trades for 14-Jun-2024

Time Volume / Share Price
16:35 37,432 @ 510.00p
16:35 68 @ 510.00p
16:35 751 @ 510.00p
16:35 1,319 @ 510.00p
16:35 453 @ 510.00p

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