Crest Nicholson (LON:CRST) Releases Quarterly Earnings Results

Crest Nicholson (LON:CRST) announced its earnings results on Thursday. The company reported GBX 7.80 earnings per share for the quarter, Digital Look Earnings reports. Crest Nicholson had a negative return on equity of 3.47% and a negative net margin of 4.21%.

Here are the key takeaways from Crest Nicholson’s conference call:

• FY2025 results were in line with guidance with revenue of £610.8m, adjusted EPS up 56% to £7.8, a proposed total dividend of £3.1 per share, and net debt beaten to £38.2m.
• FY2026 guidance targets adjusted PBT £32–40m, a blended gross margin ~15–16%, interest of £10–12m, and year?end net debt broadly stable ±£25m, reflecting modest market recovery assumptions and continued land disposals.
• Project Elevate is driving tangible operational improvements—new mid?premium positioning, 38 new house types, digital sales tools, halved NHBC reportable items to 0.26 and a five?star HBF rating—aiming for >2,300 completions and >20% gross margin by FY2029.
• Fire remediation is materially progressed (surveys nearly complete and provision reduced by £46.5m with £12.4m recoveries) but external wall work remains the main cost/risk and cash spend of £85–100m is expected in FY2026.
• Land bank realignment generated £81.4m from 1,119 plot disposals at a 21% margin, reduced short?term land by ~2,000 plots to 6.5 years, and the Strategic Land Bank (~18,000 homes) is ~66% allocated or draft?allocated, benefiting from favourable planning reforms.

Crest Nicholson Price Performance

Shares of CRST traded up GBX 18.50 during mid-day trading on Thursday, reaching GBX 154.20. 27,692,037 shares of the stock traded hands, compared to its average volume of 2,489,052. The firm has a fifty day moving average price of GBX 136.67 and a 200 day moving average price of GBX 156.81. The company has a market cap of £395.31 million, a price-to-earnings ratio of -5.37, a price-to-earnings-growth ratio of 0.51 and a beta of 2.00. The company has a current ratio of 3.27, a quick ratio of 0.72 and a debt-to-equity ratio of 12.94. Crest Nicholson has a 1 year low of GBX 125.71 and a 1 year high of GBX 198.50.

Analyst Ratings Changes

A number of equities research analysts have recently commented on CRST shares. JPMorgan Chase & Co. lowered their target price on Crest Nicholson from GBX 190 to GBX 160 and set a “neutral” rating on the stock in a research note on Thursday, December 4th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 230 price objective on shares of Crest Nicholson in a research note on Monday, January 19th. Berenberg Bank lowered their target price on Crest Nicholson from GBX 195 to GBX 180 and set a “hold” rating on the stock in a research note on Tuesday, November 18th. Finally, Peel Hunt restated an “add” rating and issued a GBX 190 price objective on shares of Crest Nicholson in a research note on Tuesday, November 18th. Two research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Crest Nicholson presently has a consensus rating of “Moderate Buy” and an average price target of GBX 190.

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.