Crest Nicholson (LON:CRST) Releases Earnings Results

Crest Nicholson (LON:CRST) released its quarterly earnings results on Thursday. The company reported GBX (10.10) earnings per share for the quarter, Digital Look Earnings reports. Crest Nicholson had a negative return on equity of 4.32% and a negative net margin of 5.44%.

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 Price Performance

LON:CRST opened at GBX 65.82 on Friday. Crest Nicholson has a one year low of GBX 59.60 and a one year high of GBX 192.10. The stock has a market cap of £168.99 million, a PE ratio of 73.13, a P/E/G ratio of 0.51 and a beta of 1.33. The company has a debt-to-equity ratio of 34.67, a quick ratio of 0.71 and a current ratio of 2.24. The stock has a 50 day moving average price of GBX 70.35 and a 200 day moving average price of GBX 105.46.

Wall Street Analyst Weigh In

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

Crest Nicholson Company Profile

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.