Crest Nicholson (LON:CRST) Announces Quarterly Earnings Results

Crest Nicholson (LON:CRST) released its earnings results on Thursday. The company reported GBX (10.10) earnings per share 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 Down 2.7%

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

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on CRST shares. Deutsche Bank Aktiengesellschaft lowered shares of Crest Nicholson to a “hold” rating and dropped their price objective for the company from GBX 228 to GBX 79 in a report on Wednesday, April 22nd. JPMorgan Chase & Co. lowered 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. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 95 price target on shares of Crest Nicholson in a research report on Friday. Stifel Nicolaus reissued a “hold” rating and issued a GBX 125 price objective on shares of Crest Nicholson in a report on Tuesday, April 21st. Finally, Berenberg Bank cut 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. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.