Persimmon (LON:PSN) Price Target Cut to GBX 1,530 by Analysts at Citigroup

Key Points

• Citigroup has reduced Persimmon's price target from GBX 1,573 to GBX 1,530, while maintaining a "buy" rating, suggesting a potential upside of 39.15% from the stock's last close.
• Royal Bank Of Canada upgraded Persimmon's shares to a "sector perform" rating and raised their price target from GBX 1,325 to GBX 1,375.
• Persimmon's stock decreased by 2.6% during trading, reaching GBX 1,099.50, and it has a market cap of £3.53 billion.

Persimmon (LON:PSN - Get Free Report) had its price target decreased by equities research analysts at Citigroup from GBX 1,573 ($21.36) to GBX 1,530 ($20.78) in a note issued to investors on Thursday,Digital Look reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price objective would suggest a potential upside of 39.15% from the stock's previous close.

Separately, Royal Bank Of Canada upgraded shares of Persimmon to a "sector perform" rating and raised their price objective for the stock from GBX 1,325 ($17.99) to GBX 1,375 ($18.67) in a report on Wednesday, July 9th.

Persimmon Trading Down 2.6%

PSN stock traded down GBX 29.50 ($0.40) during midday trading on Thursday, reaching GBX 1,099.50 ($14.93). The company's stock had a trading volume of 1,490,024 shares, compared to its average volume of 4,689,782. Persimmon has a 52 week low of GBX 1,047 ($14.22) and a 52 week high of GBX 1,721.80 ($23.38). The stock has a market cap of £3.53 billion, a PE ratio of 13.77, a price-to-earnings-growth ratio of 0.83 and a beta of 1.37. The company has a quick ratio of 1.04, a current ratio of 4.09 and a debt-to-equity ratio of 4.91. The business's 50-day simple moving average is GBX 1,240.45 and its 200-day simple moving average is GBX 1,241.54.

Persimmon (LON:PSN - Get Free Report) last announced its quarterly earnings results on Wednesday, August 13th. The company reported GBX 36.80 ($0.50) earnings per share for the quarter. Persimmon had a net margin of 8.84% and a return on equity of 7.51%. As a group, sell-side analysts expect that Persimmon will post 98.2810615 EPS for the current year.

Persimmon Company Profile

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.

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