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Pin to quick picksTaylor Wimpey Share News (TW.)

Share Price Information for Taylor Wimpey (TW.)

London Stock Exchange
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Share Price: 148.90
Bid: 148.65
Ask: 148.70
Change: 1.75 (1.19%)
Spread: 0.05 (0.034%)
Open: 147.40
High: 148.90
Low: 146.60
Prev. Close: 147.15
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JP Morgan upgrades estimates on UK housebuilders

Wed, 07th Dec 2016 08:57

(ShareCast News) - JP Morgan Cazenove has upgraded its estimates on UK housebuilders for 2017, saying it sees no signs of a material slowdown.Sales trends and earnings have held up well despite the initial shock of the Brexit vote sending the sector down 21% in the year to date, the bank said."The strength of post Brexit trading to date has left our initial post referendum assumptions looking overly negative, meaning we are now making high single digit upgrades to our estimates for 2017," JP Morgan said."Into the new year, we see scope for the sector to outperform, given that we expect the market to remain strong through the key spring selling season and we expect companies to strongly reiterate commitment to the current dividends (the sector currently yields 6%)."JP Morgan's top picks of the sector are Taylor Wimpey, Persimmons, Crest Nicholson and Bellway as the housebuilders are the" high dividend yield plays and/or stocks that we see continued scope for upgrades".The bank still expects consumer confidence to fall at some point next year and have a negative impact on housebuilding demand.However, JP Morgan now sees a 5% decline in volume as more realistic than its previous estimate for a 10% drop.The bank's analysts believe there is minimal risk to house price deflation outside of London but they are more bearish on the city."While we are more bearish on the outlook for London, we see minimal earnings risk to the sector, given that order books tend to be long, companies invested very little in land in recent years, and exposure is increasingly to outer London, benefiting from Help-to-Buy driven demand.""We continue to believe the sector warrants a higher premium to history, even if the market weakens from here, given that average ROCE (return on capital employed) has improved from a historic average in the mid-teens to 28%."The improvement on ROCE has been mostly driven by better land buying conditions, JP Morgan added. The bank views this as a "structural change unlikely to reverse, particularly if the market weakens from here".Meanwhile, JP Morgan believes improved balance sheet efficiency has enabled companies to return a larger proportion of earnings as dividends."We view the current 6% average yield for the sector as highly sustainable, even if market conditions deteriorate."
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21 Aug 2023 16:49

LONDON MARKET CLOSE: FTSE 100 tips into red as housebuilders struggle

(Alliance News) - Stocks in London were lower at the close on Monday, with the FTSE 100 tipping into the red as its blue-chip housebuilders were hurt by less-than-stellar data from Rightmove and a profit warning from FTSE 250 peer Crest Nicholson.

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21 Aug 2023 12:04

LONDON MARKET MIDDAY: Crest Nicholson warning hits housing shares

(Alliance News) - Stock prices in London were mixed at midday Monday, after a profit warning from Crest Nicholson, as well as some poor data from Rightmove, rattled stocks in the housebuilding sector.

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21 Aug 2023 10:05

UK's Crest Nicholson warns on profit amid housing worries

Shares fall 14% to hit lowest level since Sept 2020

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21 Aug 2023 08:54

LONDON MARKET OPEN: Stocks mixed amid housebuilder sell-off

(Alliance News) - Stock prices in London opened mixed on Monday, as shares in housebuilders came under renewed pressure, following disappointing house price data and a concerning update from midcap-listed Crest Nicholson.

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21 Aug 2023 08:30

UK homebuilder shares tumble after Crest Nicholson cuts annual profit outlook

LONDON, Aug 21 (Reuters) - UK homebuilder shares tumbled on Monday, set for their biggest one-day drop in over six weeks, led by a 14.9% fall in Crest Nicholson shares which plunged after the residential housebuilder cut its full-year profit view.

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16 Aug 2023 12:01

LONDON MARKET MIDDAY: Stocks down; UK inflation cools in July

(Alliance News) - Stock prices in London were lower at midday on Wednesday, as investors digest some mixed inflation figures and the impact they will have on the Bank of England's next move.

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16 Aug 2023 09:29

LONDON BROKER RATINGS: RBC cuts Antofagasta; Shore likes Trainline

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

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11 Aug 2023 09:52

LONDON BROKER RATINGS: Deutsche cuts Domino's Pizza; RBC lowers CVS

(Alliance News) - The following London-listed shares received analyst recommendations Friday morning and Thursday:

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8 Aug 2023 13:06

UK housebuilder Bellway to cut jobs amid market slowdown

LONDON, Aug 8 (Reuters) - British housebuilder Bellway on Tuesday said it would cut a limited number of jobs as part of structural changes that include the possible closure of two divisions, citing a slowdown in house building and sales.

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7 Aug 2023 09:03

LONDON MARKET OPEN: LSL slips on profit warning; PageGroup profit down

(Alliance News) - Stock prices in London opened lower on Monday, in a tepid start to the week, as markets wait for further catalysts.

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3 Aug 2023 16:54

LONDON MARKET CLOSE: FTSE 100 declines but pound perks up after BoE

(Alliance News) - Equities in Europe closed lower on Thursday, with markets still unsteady after a US credit rating cut on Wednesday, though London-listed property firms got a slight boost, on the view that the end of the Bank of England's hiking cycle is in sight.

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2 Aug 2023 17:04

UK's FTSE 100 at two-week low as surprise US credit rating cut sours mood

Fitch downgrades U.S. credit rating to AA+

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2 Aug 2023 12:07

LONDON MARKET MIDDAY: European stocks rattled after US debt rating cut

(Alliance News) - Stock prices across the globe were lower at midday Wednesday, after Fitch rocked markets by downgrading the US credit rating.

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2 Aug 2023 10:40

Taylor Wimpey expects full-year profits to halve amid housing gloom

Sees full-year operating profit at 440-470 mln stg range

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2 Aug 2023 08:11

TOP NEWS: Taylor Wimpey reports half year revenue and profit decline

(Alliance News) - Taylor Wimpey PLC on Wednesday reported a fall in its interim profit and revenue, blaming "variable market conditions" for damaging the housing market.

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