Persimmon (LON:PSN) Announces Earnings Results

Key Points

• Persimmon reported quarterly earnings of GBX 36.80 ($0.50) EPS, with a net margin of 8.84% and return on equity of 7.51%.
• The company's stock declined by GBX 29.50 ($0.40) to GBX 1,099.50 ($14.93) amid a trading volume of 1,490,024 shares.
• Royal Bank of Canada upgraded Persimmon's rating to "sector perform" and raised the price target from GBX 1,325 ($17.99) to GBX 1,375 ($18.67).

Persimmon (LON:PSN - Get Free Report) posted its earnings results on Wednesday. The company reported GBX 36.80 ($0.50) EPS for the quarter, Digital Look Earnings reports. Persimmon had a return on equity of 7.51% and a net margin of 8.84%.

Persimmon Price Performance

LON:PSN traded up GBX 2.50 ($0.03) during mid-day trading on Monday, reaching GBX 1,096 ($14.80). The stock had a trading volume of 2,540,953 shares, compared to its average volume of 4,654,138. The stock has a market capitalization of £3.52 billion, a P/E ratio of 13.72, a P/E/G ratio of 0.83 and a beta of 1.37. The firm has a 50 day moving average price of GBX 1,228.96 and a two-hundred day moving average price of GBX 1,237.70. The company has a debt-to-equity ratio of 4.91, a quick ratio of 1.04 and a current ratio of 4.09. Persimmon has a one year low of GBX 1,047 ($14.14) and a one year high of GBX 1,721.80 ($23.26).

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PSN. Citigroup dropped their price target on Persimmon from GBX 1,573 ($21.25) to GBX 1,530 ($20.67) and set a "buy" rating for the company in a research report on Thursday. Berenberg Bank lowered their target price on shares of Persimmon from GBX 1,450 ($19.59) to GBX 1,300 ($17.56) and set a "hold" rating on the stock in a research note on Monday. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a GBX 1,375 ($18.57) target price on shares of Persimmon in a research report on Wednesday, August 13th.

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.