Persimmon (LON:PSN – Get Rating) had its price objective increased by equities researchers at Berenberg Bank from GBX 3,410 ($45.75) to GBX 3,440 ($46.16) in a research report issued on Wednesday, Digital Look reports. The firm presently has a “buy” rating on the stock. Berenberg Bank’s price target would indicate a potential upside of 40.71% […]
28 April 2021 | 08:30am
StockMarketWire.com - UK stocks opened higher on a busy day for local corporate earnings brightened by pleasing updates from Lloyds and WPP that offset disappointing numbers from Sainsbury s and Reckitt Benckiser.
At 0821, the benchmark FTSE 100 index was up 24.66 points, or 0.4%, at 6,969.63.
High-street lender Lloyds rallied 4.4% to 45.5p, having reported a jump in first-quarter profit as bad debt provisions fell amid an ongoing economic recovery, offsetting lower income.
Lloyds also upgraded its guidance, forecasting its annual net interest margin to be in excess of 2.45% and its operating costs to fall to about £7.5 billion.
The bank said it was accruing dividends and intended to resume a progressive and sustainable ordinary dividend policy .
3 March 2021 | 07:22am
StockMarketWire.com - House builder Persimmon reported a 25% fall in annual profit and slashed its dividend, after construction markets were battered by the pandemic.
Pre-tax profit for the year through December dropped to £783.8 million, down from £1.04 billion year-on-year.
Revenue fell 8.8% to £3.33 billion after a 14% slide in home completions to 13,575 was partly offset by a 6.9% rise in the average home selling price to £230,534.
Persimmon declared a full-year dividend of 110p per share, less than half the 235p it paid for 2019.
On a brighter note, it said it was committed to a total payout of 235p per share in 2021, subject to continual board review.
3 March 2021 | 08:42am
StockMarketWire.com - UK stocks opened more than 1% higher on Wednesday as progress on Covid vaccines and US stimulus continued to fuel hopes the global economy was on the mend.
At 0825, the benchmark FTSE 100 index was up 70.78 points, or 1.1%, at 6,684.62.
Insurance company Hiscox tumbled 13% to 856.79p after it swung to a $268.5 million annual pre-tax loss, driven by event cancellation and business interruption claims owing to the pandemic.
Hiscox said it decided not to declare a final dividend, but would consider resuming payments in 2021 when it published interim results.
House builder Persimmon rose 0.3% to £27.17, even as it reported a 25% fall in annual profit and slashed its dividend to 110p per share, after construction markets were battered by the pandemic.