Persimmon Plc (LON:PSN) Given Average Recommendation of “Reduce” by Analysts

Persimmon Plc (LON:PSN) has been assigned a consensus recommendation of “Reduce” from the nine analysts that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is GBX 1,272.38 ($15.76).

Several research analysts have issued reports on PSN shares. JPMorgan Chase & Co. lowered Persimmon to a “neutral” rating and cut their price target for the stock from GBX 1,600 ($19.82) to GBX 1,090 ($13.50) in a report on Tuesday, July 4th. Barclays reiterated an “equal weight” rating and set a GBX 1,200 ($14.86) price objective on shares of Persimmon in a research note on Tuesday, June 27th. UBS Group lifted their price objective on Persimmon from GBX 1,230 ($15.24) to GBX 1,300 ($16.10) and gave the company a “neutral” rating in a research note on Monday, June 12th. Finally, Jefferies Financial Group cut their target price on shares of Persimmon from GBX 1,396 ($17.29) to GBX 1,192 ($14.77) and set a “hold” rating for the company in a research report on Thursday, June 22nd.

Persimmon Trading Down 4.6 %

PSN opened at GBX 1,029.50 ($12.75) on Tuesday. The company has a 50-day simple moving average of GBX 1,082.60 and a 200 day simple moving average of GBX 1,174.57. The company has a quick ratio of 1.04, a current ratio of 4.49 and a debt-to-equity ratio of 0.36. Persimmon has a twelve month low of GBX 953 ($11.80) and a twelve month high of GBX 1,531 ($18.96). The stock has a market capitalization of £3.29 billion, a price-to-earnings ratio of 999.51, a P/E/G ratio of -1.74 and a beta of 1.29.

Persimmon Cuts Dividend

The firm also recently declared a dividend, which will be paid on Friday, November 3rd. Stockholders of record on Thursday, October 12th will be paid a dividend of GBX 20 ($0.25) per share. This represents a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, October 12th. Persimmon’s dividend payout ratio is presently 7,766.99%.

About Persimmon

Persimmon Plc, together with its subsidiaries, operates as a house builder in the United Kingdom. The company offers family housing under the Persimmon Homes brand name; housing under the Charles Church brand name; and social housing under the Westbury Partnerships brand name. It also provides broadband services under the FibreNest brand; and timber frame, insulated wall panels, and roof cassettes under the brand Space4.