Construction and Housebuilding

Downbeat earnings season on the way

  • Sectors : Construction and Housebuilding
  • Companies : Persimmon plc | Redrow plc | Barratt Developments plc | Berkeley Group | Bellway plc | Taylor Wimpey plc | Vistry Group


Ratings and price correct at time of issue

Company Rating Date Previous Rating Date Closing Price
Barratt Developments plc OUTPERFORM 25/06/20 Neutral 24/03/14 455p
Bellway plc OUTPERFORM 24/03/14 Neutral 10/09/13 2154p
Berkeley Group UNDERPERFORM 10/09/13 Under Review 21/05/13 4082p
Persimmon plc NEUTRAL 17/08/20 Underperform 10/09/13 1075p
Redrow plc NEUTRAL 10/09/13 Under Review 21/05/13 478p
Taylor Wimpey plc OUTPERFORM 10/09/13 Under Review 21/05/13 115p
Vistry Group OUTPERFORM 10/09/13 Under Review 21/05/13 781p


The upcoming earnings season is unlikely to create much anticipation of upside to FY24 forecasts, and we suspect that sales rates will remain depressed in the short term. Despite the re-rating potential of the sector in the medium to long term, we remain cautious for now in the absence of any meaningful catalysts.

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Sep 1 2023, 07:00 IST/BST