Persimmon Plc Price, Forecast, Insider, Ratings, Fundamentals & Signals

Persimmon shares ticked higher as it reported an improvement in sales rates in its first quarter with pricing also described as “firm”. Dean Finch, chief executive, said it had been a good start with the completions on track to grow to between 10,000-10,500 for the full year.

Persimmon PLC (LSE:PSN)'s less-than-optimistic outlook during Tuesday's annual earnings call has cast a cloud on the market's stance on the FTSE 100 housebuilder. Chief executive Dean Finch was at pains to cast a positive light on his company's profits more than halving, but he was unable to get around the fact that the near-term outlook is cautious and market conditions are set to remain subdued in the months ahead.

Shares in housebuilder Persimmon slipped as it announced a sharp fall in sales and profits in 2023.

Persimmon PLC (LSE:PSN) kept its dividend unchanged despite profits more than halving last year, saying it is “well placed to manage the ongoing uncertainty” with 2024 expected to be another challenging year for the housebuilding industry. The FTSE 100-listed builder posted results showing profit before tax fell to £351.8 million for the 2023 calendar year, down 52% from the previous year.

Core consumer inflation in the US, which excludes volatile items such as food and energy, is the big announcement tomorrow. Prices rose by 0.4% in January compared to the previous month.

The FTSE 100 and FTSE 250 indices were left in the dust by their global peers. They remained in a tight range even as the S&P 500, Nasdaq 100, and Nikkei 225 indices surged to their all-time highs.

The spotlight turns to three prominent UK housebuilders next week, when Persimmon, Vistry, and Berkeley publish their results. House prices wobbled throughout 2023 and while they recovered in the new year, high interest and mortgage rates mean house sales have continued to lagged.

January 15, Bloomberg Business Week published The Year Ahead special edition. 50 stocks therein touted as “Companies to Watch". YCharts produced this list of January 47 stocks; of which, 32 Pay dividends and 12 measure-up to the dogcatche-ideal of promising dividend-payouts, from $1k invested, greater-than their single-share prices. How're they doin' now? The top-ten Divvy 32 for January ranged 4.09% to 8.59% in annual-yield and ranged 10.87% to 62.07% in one-year price-target-upsides per brokers as of 1/29/24.

Despite the challenges, Persimmon ended 2023 on a resilient note.

Shares in Persimmon PLC has jumped 1.7% after Morgan Stanley (NYSE:MS) double-upgraded the housebuilder to ‘overweight ‘ from ‘underweight.' The investment bank has also raised price targets for Taylor Wimpey PLC (LSE:TW.