Persimmon (LON:PSN) Reaches New 52-Week Low - Time to Sell?

Key Points

• 52-week low: Persimmon shares fell to GBX 1,027 on heavy volume, trading about 4.4% below the prior close and marking a new 52-week low.
• Analyst outlook: The stock carries a consensus rating of Moderate Buy (seven Buys, two Holds) with a consensus target of GBX 1,528—substantially higher than the current price.
• Key fundamentals: Market cap £3.30bn, P/E 11.64, strong liquidity (current ratio 3.99), and recent quarterly EPS of GBX 100.70.

Persimmon Plc (LON:PSN - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as GBX 1,027 and last traded at GBX 1,027, with a volume of 9804601 shares changing hands. The stock had previously closed at GBX 1,074.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Berenberg Bank reissued a "hold" rating and set a GBX 1,300 price objective on shares of Persimmon in a report on Wednesday, March 11th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a GBX 1,750 price objective on shares of Persimmon in a research report on Wednesday, March 11th. Citigroup increased their price target on shares of Persimmon from GBX 1,613 to GBX 1,615 and gave the company a "buy" rating in a research report on Wednesday, January 14th. Jefferies Financial Group cut their price objective on shares of Persimmon from GBX 1,819 to GBX 1,792 and set a "buy" rating on the stock in a research report on Wednesday, March 11th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Persimmon to a "hold" rating and set a GBX 1,419 target price for the company. in a research report on Thursday, January 15th. Seven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 1,528.

Persimmon Stock Down 4.4%

The company has a current ratio of 3.99, a quick ratio of 1.04 and a debt-to-equity ratio of 0.46. The company has a market capitalization of £3.30 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 0.83 and a beta of 1.45. The business's 50-day simple moving average is GBX 1,227.61 and its 200-day simple moving average is GBX 1,292.20.

Persimmon (LON:PSN - Get Free Report) last posted its quarterly earnings results on Tuesday, March 10th. The company reported GBX 100.70 earnings per share (EPS) for the quarter. Persimmon had a return on equity of 8.05% and a net margin of 7.62%. As a group, equities research analysts anticipate that Persimmon Plc will post 98.2810615 EPS for the current fiscal year.

About Persimmon

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. Further, it offers concrete bricks and roof tile. Persimmon Plc was founded in 1972 and is headquartered in York, the United Kingdom.

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