PSMMF - Persimmon: An Update Going Into 2024
2024-06-12 21:27:30 ET
Summary
- Persimmon PLC is a UK homebuilder with a low valuation and high yield, showing signs of improvement in quality and customer satisfaction.
- Despite recent improvements, the company's earnings are still below historical levels, making it a cautious investment at current prices.
- I recommend a "HOLD" on Persimmon PLC, waiting for a single-digit share price before considering investment.
Dear readers/followers,
In this article, I'll provide you with an update on Persimmon PLC (PSMMF) (PSMMY). The company is a UK homebuilder. I haven't been going into the UK market as much as I'd like, and this is something that I've been changing for the past year or so. Persimmon PLC is not one of those companies though. I can already hear some of you asking what I am thinking - investing in a British homebuilder in this environment. Well, everyone needs homes - and the UK is no exception.
Persimmon has an upside at the right price, as I established during my last article, and my stance at the time, for that article, was a "HOLD". Since that time the company is up around 7%. The S&P500 is up almost 23%, and my portfolio is up close to 28% since November of last year, which is when I published that piece, which you can find here. ...
Persimmon: An Update Going Into 2024