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Sep 1 2023, 07:00 IST/BST
Construction and Housebuilding
Downbeat earnings season on the way
- Sectors : Construction and Housebuilding
- Companies : Persimmon plc | Redrow plc | Bellway plc | Vistry Group | Berkeley Group | Taylor Wimpey plc | Barratt Redrow plc
Ratings
Ratings and price correct at time of issue
| Company | Rating | Date | Previous Rating | Date | Closing Price |
|---|---|---|---|---|---|
| Barratt Redrow 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 |
DAVY VIEW
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.
