Persimmon (LON:PSN) Upgraded to Overweight by JPMorgan Chase & Co.

Posted by James Conley on Apr 16th, 2024

JPMorgan Chase & Co. upgraded shares of Persimmon (LON:PSN – Free Report) to an overweight rating in a research note released on Friday morning, Marketbeat reports. JPMorgan Chase & Co. currently has GBX 1,510 ($18.80) target price on the stock, up from their prior target price of GBX 1,190 ($14.81).

Persimmon Stock Performance

PSN opened at GBX 1,298.50 ($16.16) on Friday. The company has a quick ratio of 1.04, a current ratio of 4.54 and a debt-to-equity ratio of 0.38. Persimmon has a 12-month low of GBX 925 ($11.52) and a 12-month high of GBX 1,501 ($18.69). The business has a 50 day moving average of GBX 1,344.39 and a 200-day moving average of GBX 1,283.79. The stock has a market cap of £4.15 billion, a price-to-earnings ratio of 1,623.13, a PEG ratio of -1.74 and a beta of 1.36.

Persimmon Increases Dividend

The firm also recently announced a dividend, which will be paid on Friday, July 12th. Stockholders of record on Thursday, June 20th will be paid a dividend of GBX 40 ($0.50) per share. This is an increase from Persimmon’s previous dividend of $20.00. This represents a dividend yield of 2.91%. The ex-dividend date is Thursday, June 20th. Persimmon’s payout ratio is currently 7,500.00%.

Insider Transactions at Persimmon

In other Persimmon news, insider Dean K. Finch bought 7,621 shares of Persimmon stock in a transaction dated Tuesday, March 12th. The stock was bought at an average cost of GBX 1,315 ($16.37) per share, for a total transaction of £100,216.15 ($124,755.57). 3.46% of the stock is currently owned by corporate insiders.

About Persimmon

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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.