Persimmon

Deutsche Bank has upgraded Persimmon from "hold" to "buy" and slightly cut its price target from 1,419p to 1,403p, citing weakness in the share price. Persimmon beat analysts' expectations in the first half with an adjusted operating margin of 12.8% (consensus 11.7%), completed 5,189 homes and confirmed its full-year guidance targeting 12,500 completions. The company reported net debt of £165m, announced an interim dividend of 20p and plans to prioritise capital investment for growth; share buybacks will be considered if there is excess cash. Deutsche Bank reduced its pre-tax profit estimates for 2026–2028 but regards Persimmon as comparatively resilient and expects an average return on equity of around 9%. » More on de.investing.com

Persimmon reported adjusted EPS of £0.38 for H1 2026, slightly above the consensus; adjusted profit before tax rose to £170m. Completions climbed 13% to 5,189 units and housebuilding revenue reached £1.5bn, while the gross margin fell to 18.0%. Management confirmed the full-year target of around 12,500 completions but warned of continued margin pressure and additional costs of £40–50m over 18 months. The shares reacted pre-market, up about 3.2%. » More on de.investing.com

In June Persimmon issued 48,838 new ordinary shares to satisfy due allocations under employee share schemes. The shares were issued between 1 and 30 June and admitted to trading on the Main Market of the London Stock Exchange. After the issue the number of ordinary shares admitted to trading stands at 321,240,932. » More on de.investing.com