Crest Nicholson (LON:CRST) Releases Earnings Results

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

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

CRST traded up GBX 18.50 during midday trading on Thursday, hitting GBX 154.20. The company had a trading volume of 27,692,037 shares, compared to its average volume of 2,489,052. Crest Nicholson has a twelve month low of GBX 125.71 and a twelve month high of GBX 198.50. The company has a debt-to-equity ratio of 12.94, a quick ratio of 0.72 and a current ratio of 3.27. The firm’s 50-day simple moving average is GBX 136.67 and its 200-day simple moving average is GBX 156.81. The company has a market capitalization of £395.31 million, a PE ratio of -5.37, a P/E/G ratio of 0.51 and a beta of 2.00.

Analyst Ratings Changes

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

Crest Nicholson Company Profile

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.