Persimmon (LON:PSN) Shares Up 4.8% - Here's What Happened

Key Points

• Shares of Persimmon Plc rose by 4.8%, trading at GBX 1,235.52 during mid-day on Thursday, following a previous closing price of GBX 1,179.
• Analysts from Jefferies Financial Group lowered their target price on Persimmon while maintaining a "buy" rating, alongside additional ratings from other financial firms, indicating a current consensus rating of "Moderate Buy".
• The company's most recent earnings report showed an EPS of GBX 36.80, with expectations for the current year set at 98.28 EPS, alongside a market cap of £4 billion.

Shares of Persimmon Plc (LON:PSN - Get Free Report) shot up 4.8% during mid-day trading on Thursday . The company traded as high as GBX 1,259.50 ($16.83) and last traded at GBX 1,235.52 ($16.51). 3,521,186 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 4,458,733 shares. The stock had previously closed at GBX 1,179 ($15.75).

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on PSN. Jefferies Financial Group lowered their target price on Persimmon from GBX 1,801 to GBX 1,790 and set a "buy" rating for the company in a research note on Tuesday, October 7th. Royal Bank Of Canada reissued a "sector perform" rating and issued a GBX 1,375 price target on shares of Persimmon in a report on Wednesday, August 13th. Citigroup reduced their price target on Persimmon from GBX 1,573 to GBX 1,530 and set a "buy" rating for the company in a report on Thursday, August 14th. Finally, Berenberg Bank reissued a "hold" rating and issued a GBX 1,300 price target on shares of Persimmon in a report on Tuesday, September 9th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of GBX 1,503.

Persimmon Price Performance

The stock has a market cap of £4.00 billion, a PE ratio of 15.74, a P/E/G ratio of 0.83 and a beta of 1.37. The company has a debt-to-equity ratio of 4.91, a current ratio of 4.09 and a quick ratio of 1.04. The business has a fifty day moving average of GBX 1,121.10 and a 200 day moving average of GBX 1,209.80.

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

Insider Buying and Selling

In other Persimmon news, insider Andrew Duxbury sold 7,132 shares of the stock in a transaction that occurred on Monday, September 29th. The stock was sold at an average price of GBX 1,133, for a total transaction of £80,805.56. 2.63% of the stock is currently owned by corporate insiders.

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.

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