Breedon Group (BREE)

Sector:

Construction and Building Materials

Index:

FTSE 250

392.00p
   
  • Change Today:
      3.20p
  • 52 Week High: 487.00p
  • 52 Week Low: 374.20p
  • Currency: UK Pounds
  • Shares Issued: 346.50m
  • Volume: 936,731
  • Market Cap: £1,358.27m
  • Beta: 0.01

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Berenberg slightly raises target price on Breedon

By Iain Gilbert

Date: Friday 24 Nov 2023

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg slightly raised their target price on construction firm Breedon from 430.0p to 440.0p on Friday following the group's year-to-date trading update a day earlier.

Berenberg noted that Breedon's revenue was up 8% year-to-date, including 5% like-for-like, while revenue for the four months ended 31 October was up 4% year-on-year, or 1% on a like-for-like basis.

The German bank stated that volumes in the industry had been "tough" thus far in 2023, but said Breedon has been "getting on with business" and had benefitted from "strong" operating efficiency and pricing. It added that Breedon trades at a 10.0x 2024E price-to-earnings ratio and 8.5x underlying earnings.

"Given this backdrop, management guided 2023 ahead of prevailing market expectations, and as such we raise our numbers by 2-4% over the forecast period, today," said Berenberg, which reiterated its 'buy' rating on the stock.

Berenberg added that Breedon was "very well positioned" in the UK and Irish markets, in its view, given its asset backing, level of vertical integration, and exposure to "more robust" end-markets.

"H1 pre-IFRS 16 net debt came in at £171.0m, 0.7x EBITDA. We now expect year-end net debt of circa £128.0m, slightly lower than previously and giving plenty of headroom. We think management will be keen to progress the acquisition pipeline at some point, ranging from additional routes to market in the UK to larger moves into the US," concluded Berenberg.







Reporting by Iain Gilbert at Sharecast.com

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Breedon Group Market Data

Currency UK Pounds
Share Price 392.00p
Change Today 3.20p
% Change 0.82 %
52 Week High 487.00p
52 Week Low 374.20p
Volume 936,731
Shares Issued 346.50m
Market Cap £1,358.27m
Beta 0.01

Breedon Group Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
43.79% below the market average43.79% below the market average43.79% below the market average43.79% below the market average43.79% below the market average
18.92% below the sector average18.92% below the sector average18.92% below the sector average18.92% below the sector average18.92% below the sector average
Price Trend
18.04% below the market average18.04% below the market average18.04% below the market average18.04% below the market average18.04% below the market average
35% below the sector average35% below the sector average35% below the sector average35% below the sector average35% below the sector average
Income
39.59% above the market average39.59% above the market average39.59% above the market average39.59% above the market average39.59% above the market average
14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average14.29% above the sector average
Growth
76.28% above the market average76.28% above the market average76.28% above the market average76.28% above the market average76.28% above the market average
78.38% above the sector average78.38% above the sector average78.38% above the sector average78.38% above the sector average78.38% above the sector average

Breedon Group Dividends

  Latest Previous
  Final Interim
Ex-Div 03-Apr-25 26-Sep-24
Paid 16-May-25 01-Nov-24
Amount 10.00p 4.50p

Trades for 18-Jul-2025

Time Volume / Share Price
16:38 48,234 @ 388.80p
16:35 96,371 @ 392.00p
16:35 1 @ 392.00p
16:35 594 @ 392.00p
16:35 831 @ 392.00p

Breedon Group Key Personnel

CEO Rob Wood
CFO James Brotherton

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