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Persimmon (OTCMKTS:PSMMY) Trading Up 0.1% - Should You Buy?

Persimmon logo with Construction background

Key Points

  • Persimmon Plc experienced a slight increase in stock price, rising 0.1% to close at $29.83 with a trading volume up 45% from average daily levels.
  • Several brokerages have recently upgraded their ratings on Persimmon, with Morgan Stanley maintaining an "overweight" rating, while Kepler Capital Markets upgraded to a "strong-buy."
  • Persimmon announced a significant increase in its dividend, now at $0.9997 per share, reflecting a 394.0% yield, compared to the previous dividend of $0.48.
  • Five stocks we like better than Persimmon.

Persimmon Plc (OTCMKTS:PSMMY - Get Free Report) shot up 0.1% during trading on Monday . The company traded as high as $29.89 and last traded at $29.83. 10,976 shares were traded during mid-day trading, an increase of 45% from the average session volume of 7,558 shares. The stock had previously closed at $29.81.

Wall Street Analyst Weigh In

A number of research firms recently commented on PSMMY. Morgan Stanley reaffirmed an "overweight" rating on shares of Persimmon in a research report on Tuesday, May 6th. Citigroup reaffirmed a "buy" rating on shares of Persimmon in a research report on Thursday, August 14th. Kepler Capital Markets raised shares of Persimmon to a "strong-buy" rating in a research report on Wednesday, July 23rd. Finally, Royal Bank Of Canada raised shares of Persimmon from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Persimmon presently has an average rating of "Buy".

Get Our Latest Research Report on Persimmon

Persimmon Stock Performance

The company's 50-day simple moving average is $32.90 and its 200-day simple moving average is $32.87.

Persimmon Increases Dividend

The firm also recently disclosed a dividend, which was paid on Monday, July 28th. Shareholders of record on Monday, June 23rd were given a dividend of $0.9997 per share. This represents a yield of 394.0%. The ex-dividend date of this dividend was Friday, June 20th. This is an increase from Persimmon's previous dividend of $0.48.

About Persimmon

(Get Free Report)

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.

See Also

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