Crest Nicholson (LON:CRST) Posts Earnings Results

Crest Nicholson (LON:CRST) issued its earnings results on Thursday. The company reported GBX (10.10) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Crest Nicholson had a return on equity of 0.30% and a net margin of 0.36%.

Here are the key takeaways from Crest Nicholson’s conference call:

• Project Elevate is progressing on track, with management saying the business is being reshaped toward a mid-premium positioning through better product design, customer experience, and operational discipline.
• Trading conditions remain weak, with the open market sales rate around 0.48 for the half and roughly 0.5 since April, while management expects no material market improvement for the rest of the year.
• The company reported a HY revenue of £197.6 million and an adjusted operating loss of £11.9 million, leading the board to cancel the FY 2026 dividend.
• Crest Nicholson said it remains in constructive talks with lenders to amend its facility agreement and has extended temporary covenant waivers to 30 September while the transaction is finalized.
• Cash and balance-sheet actions are progressing, including land disposals, slower build activity, and WIP reductions, with management targeting further cash generation and a year-end reduction in remediation obligations to around £140 million.

Crest Nicholson Stock Performance

LON CRST opened at GBX 67.80 on Friday. The stock has a market capitalization of £174.07 million, a price-to-earnings ratio of 75.33, a PEG ratio of 0.51 and a beta of 1.33. Crest Nicholson has a twelve month low of GBX 59.60 and a twelve month high of GBX 192.10. The company has a current ratio of 2.63, a quick ratio of 0.71 and a debt-to-equity ratio of 24.15. The stock has a 50-day moving average of GBX 70.49 and a 200 day moving average of GBX 105.74.

Analyst Upgrades and Downgrades

CRST has been the subject of a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 95 price objective on shares of Crest Nicholson in a research note on Friday. JPMorgan Chase & Co. reduced their price target on Crest Nicholson from GBX 160 to GBX 80 and set a “neutral” rating for the company in a research report on Tuesday, June 16th. Berenberg Bank decreased their price target on Crest Nicholson from GBX 160 to GBX 86 and set a “hold” rating for the company in a report on Wednesday, April 22nd. Stifel Nicolaus restated a “hold” rating and issued a GBX 125 price objective on shares of Crest Nicholson in a research report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Crest Nicholson to a “hold” rating and cut their target price for the company from GBX 228 to GBX 79 in a report on Wednesday, April 22nd. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of GBX 109.57.

About Crest Nicholson

Crest Nicholson Holdings plc engages in building residential homes in the United Kingdom. It develops and sells apartments, houses, and commercial properties. The company was founded in 1963 and is headquartered in Addlestone, the United Kingdom.