Crest Nicholson (LON:CRST) Posts Quarterly Earnings Results

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

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 Trading Down 2.6%

Shares of Crest Nicholson stock opened at GBX 67.90 on Friday. Crest Nicholson has a 1 year low of GBX 59.60 and a 1 year high of GBX 192.10. The company’s fifty day simple moving average is GBX 70.49 and its 200-day simple moving average is GBX 105.74. The company has a market cap of £174.33 million, a price-to-earnings ratio of 75.44, a PEG ratio of 0.51 and a beta of 1.33. The company has a current ratio of 2.63, a quick ratio of 0.71 and a debt-to-equity ratio of 24.15.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CRST. Berenberg Bank lowered their price objective on Crest Nicholson from GBX 160 to GBX 86 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. Jefferies Financial Group restated a “buy” rating and issued a GBX 112 target price on shares of Crest Nicholson in a report on Tuesday, May 5th. Deutsche Bank Aktiengesellschaft cut Crest Nicholson to a “hold” rating and decreased their target price for the stock from GBX 228 to GBX 79 in a research report on Wednesday, April 22nd. JPMorgan Chase & Co. dropped their price target on shares of Crest Nicholson from GBX 160 to GBX 80 and set a “neutral” rating on the stock in a research report on Tuesday, June 16th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a GBX 95 price objective on shares of Crest Nicholson in a research note on Friday. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Crest Nicholson 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.