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01 February 2018

Redmayne Bentley’s Top Trades

Below we take a look at the most frequently traded shares through Redmayne Bentley over the last couple of weeks and consider why they have been so popular.
 
CREST NICHOLSON (CRST)
Index: FTSE 250
Sector: Household Goods & Home Construction
Market Capitalisation: £1,288.39m

Shares in Crest Nicholson fell close to their annual low following the release of the group’s results for the year to the end of October. The housebuilder reported a 7% rise in sales, leading to pre-tax profit of £207m, up 6%. This allowed the group to increase its total dividend by 20% to 33p per share. Chief Executive Stephen Stone was upbeat on the market, describing new housebuilding as “robust” and demand for new homes “strong”. He added that: “Crest Nicholson is confident in its ability to continue delivering great homes for customers and strong returns for shareholders.”
 
DIGNITY (DTY)
Index: FTSE 250
Sector: General Retailers
Market Capitalisation: £393.68m

Shares in funeral care provider Dignity fell dramatically following the group’s pre-close trading statement and now trade at their lowest level since 2012. In its trading statement, the group said that the Board “is keen to address the continuing acceleration of price competition facing its funeral business.” As a result, the group’s results for the year to 28th December 2018 are expected to be “substantially below the market’s current expectations”. Most investors sought to cut their losses in the group, but some investors saw the share price fall as an attractive entry point.
 
PROVIDENT FINANCIAL (PFG)
Index: FTSE 250
Sector: Financial Services
Market Capitalisation: £993.05m

Provident Financial’s woes look set to continue as the troubled Bradford-based subprime lender warned that losses in its Home Credit Division would be at the top end of previous guidance at “approximately £115m” for the full-year 2017. The group also said it was in ongoing talks with the Financial Conduct Authority “with a view to reaching a resolution of the regulatory investigations.” Interim executive chairman Malcolm Le May said that the group’s priority for 2018 was to “rebuild trust with our customers, regulators, shareholders and employees”.
 
Top Trades is published every fortnight in Equity Insight, a newsletter written by our stockbrokers and investment managers. It provides free market commentary, a focus on individual sectors, technical analysis, potential trading opportunities and share reviews.
 
Please note that investments and income arising from them can fall as well as rise in value and you may lose some or all of the amount you have invested. Past performance and forecasts are not a reliable indicator of future results or performance. Please note that this communication is for information only and does not constitute a recommendation to buy or sell the shares of the companies mentioned.
Redmayne Bentley’s Top Trades
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