Latest news with #CairnHomes
Irish Times
3 days ago
- Business
- Irish Times
European shares rise amid Trump's China statements
European shares made cautious gains after US president Donald Trump said on Friday that China had violated an agreement on tariffs and issued a new threat to get tougher with Beijing. Europe's defensive sectors, such as utilities and healthcare, outperformed the big performers amid the tension between the world's two biggest economies. DUBLIN The Iseq All-Share index ended the session at 11,411.72, dropping 63.45 or 0.55 per cent. The index opened on a high, but a late surge was unable to counteract steady losses throughout the day. READ MORE Ryanair was one of the biggest losers in the day, and by far the most traded stock, dropping 1.56 per cent to €23.37. It came following the news that shares in the budget airline closed above €21 for a 28th consecutive day on Thursday, meeting a key performance target, with boss Michael O'Leary reportedly set to net a €100 million bonus as a result. Home builders declined on Friday, Cairn Homes dropped 2.89 per cent to €2.185. Kingspan Group fell 1.50 per cent to €75.50 and Irish Residential Properties REIT plc dropped 0.74 per cent to €1.072. Glenveagh Plc also retreated, dropping to €1.798, a decrease of 0.33 per cent. These losses were counteracted by defensive stocks Glanbia and Kerry Group, up 1.59 per cent to €12.80 and 0.05 per cent to €96.20 respectively. LONDON British equities ended higher on Friday. The blue-chip FTSE 100 gained 0.6 per cent and the midcap FTSE 250 rose 0.1 per cent. The benchmark index posted its best month in four. The mid-cap index posted its best month since July 2024. M&G said it had partnered with Japanese life insurer Dai-ichi Life to accelerate the group's expansion into European private markets, and give it greater access to markets in Japan and across Asia. Dai-ichi Life plans to buy a 15 per cent stake in M & G as part of the deal, the firm said, which would make it the largest shareholder in the British investment firm. Shares in M & G rose 5.5 per cent on Friday, making it the biggest riser on the FTSE 100. BP announced it has appointed David Hager to its board of directors, who joins following a 40-year career in the oil and gas industry, including as the former chief executive of Devon Energy. Mr Hager 'brings deep-rooted knowledge of the US upstream oil and gas industry', BP's chair Helge Lund said. BP's shares closed 0.5 per cent higher. EUROPE The continentwide STOXX 600 index ended 0.1 per cent higher, brushing off a temporary reinstatement of the most sweeping of Trump's tariffs on Thursday, a day after another court ordered an immediate block on them. On the day, most sectors were higher, with utilities and healthcare shares up 0.8 per cent each, while construction and materials stocks were at the bottom, down 1 per cent. Europe's aerospace and defence index was the top winning sector for the month, up about 14 per cent, as dimming hopes of a truce between Russia and Ukraine persuaded investors to buy ammunition stocks. M&G gained 5.5 per cent after it said Japanese life insurer Dai-Ichi Life Holdings will take a 15 per cent stake in the British insurer and asset manager as part of a strategic deal. French pharmaceutical company Sanofi fell 4.8 per cent to a more than one-year low after its experimental drug Itepekimab failed to meet certain conditions. Carrefour fell 6 per cent to the bottom of the STOXX 600 as the French food retailer traded without entitlement to its latest dividend payout on Friday. NEW YORK Wall Street's main indexes were under pressure in late-afternoon trading on Friday as Mr Trump accused China of violating a tariff agreement, ramping up tensions in a bruising trade war and clouding the last day of an otherwise strong month for equities. Most megacap and growth stocks fell, with Nvidia dropping in the aftermath of its results-driven rally on Thursday. Seven of the 11 big S&P 500 subsectors fell, with energy and information technology declining the most. Among other big movers on the day, Ulta Beauty jumped after the cosmetics retailer raised its annual profit forecast after beating quarterly results. Shares of drugmaker Regeneron fell sharply after its experimental drug for patients with a type of lung condition commonly called 'smoker's lung' failed a late-stage trial, although it succeeded in another. – Additional reporting: Reuters, Bloomberg, PA.
Yahoo
5 days ago
- Business
- Yahoo
Cairn Homes' (LON:CRN) 22% CAGR outpaced the company's earnings growth over the same five-year period
The most you can lose on any stock (assuming you don't use leverage) is 100% of your money. But on a lighter note, a good company can see its share price rise well over 100%. For instance, the price of Cairn Homes plc (LON:CRN) stock is up an impressive 126% over the last five years. It's also up 17% in about a month. The past week has proven to be lucrative for Cairn Homes investors, so let's see if fundamentals drove the company's five-year performance. We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free. In his essay The Superinvestors of Graham-and-Doddsville Warren Buffett described how share prices do not always rationally reflect the value of a business. One imperfect but simple way to consider how the market perception of a company has shifted is to compare the change in the earnings per share (EPS) with the share price movement. Over half a decade, Cairn Homes managed to grow its earnings per share at 23% a year. This EPS growth is higher than the 18% average annual increase in the share price. So it seems the market isn't so enthusiastic about the stock these days. You can see below how EPS has changed over time (discover the exact values by clicking on the image). It's probably worth noting we've seen significant insider buying in the last quarter, which we consider a positive. That said, we think earnings and revenue growth trends are even more important factors to consider. Dive deeper into the earnings by checking this interactive graph of Cairn Homes' earnings, revenue and cash flow. When looking at investment returns, it is important to consider the difference between total shareholder return (TSR) and share price return. The TSR incorporates the value of any spin-offs or discounted capital raisings, along with any dividends, based on the assumption that the dividends are reinvested. It's fair to say that the TSR gives a more complete picture for stocks that pay a dividend. In the case of Cairn Homes, it has a TSR of 175% for the last 5 years. That exceeds its share price return that we previously mentioned. The dividends paid by the company have thusly boosted the total shareholder return. We're pleased to report that Cairn Homes shareholders have received a total shareholder return of 35% over one year. Of course, that includes the dividend. That's better than the annualised return of 22% over half a decade, implying that the company is doing better recently. Someone with an optimistic perspective could view the recent improvement in TSR as indicating that the business itself is getting better with time. I find it very interesting to look at share price over the long term as a proxy for business performance. But to truly gain insight, we need to consider other information, too. For instance, we've identified 2 warning signs for Cairn Homes that you should be aware of. There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying. Please note, the market returns quoted in this article reflect the market weighted average returns of stocks that currently trade on British exchanges. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Irish Times
14-05-2025
- Business
- Irish Times
Housing crisis: Construction report warns of ‘looming supply constraints'
A steep fall-off in housing starts combined with a slowdown in residential investment have fuelled further doubt about the Government's housing targets . The latest quarterly market analysis from Construction Information Services (CIS) indicated that active housing commencements, the strongest indicator of future supply, dropped to a four-year low of 3,126 in the first quarter of 2025. The report noted that this followed last year's surge in housing starts triggered by the Government's temporary development levy waiver. 'The post-waiver slowdown suggests looming supply constraints, particularly outside Dublin,' CIS said. READ MORE The Housing for All output target for 2025 is for the construction of 41,000 new homes, a target that now looks increasingly remote. The CIS report did, however, point to a pickup in new housing projects which rose to 284 with the potential to deliver 11,000 new homes – a 20 per cent year-on-year increase from 9,000 homes across 237 projects in the first quarter of 2024. [ Regulatory uncertainty blocking housing investment, Elkstone warns Opens in new window ] 'The 11,000 (figure) reflects the total number of homes those developments are expected to deliver over time — not–necessarily all within the same quarter," CIS'confirmed. The latter include Cairn Homes 's €345 million Montrose development in south Dublin (688 units), BAM's Castlelake development in Cork (716 units) and the €140 million Augustine Hill regeneration scheme in Galway (376 units). The slowdown in individual unit commencement activity, however, was combined with slowing levels of investment in the residential sector here, a trend linked to higher interest rates and regulatory uncertainty. Industry is pushing for the State's rent pressure zone (RPZ) system, which limits annual rent increases to 2 per cent or inflation (whichever is lower) and which expires this year, to be loosened to entice more investment but Opposition parties claim such a move would accelerate already high rents. 'I've entrepreneurial spirit in my veins' – Apprentice star Jordan Dargan Listen | 44:45 Dave Thompson, vice-president for Europe and Ireland at CIS, said: 'While new project starts in Q1 suggest continued resilience, the significant decline in planning activity and public infrastructure investment is a red flag.' 'If we want to meet our national development targets, the pace of planning and public investment must catch up with market demand – particularly outside Dublin,' he said. The Government has been on the back foot on housing since taking office in late January as a result of lower-than-expected housing output data, which put new home completions for last year at just over 30,000 when the ministers had been pledging it would rise to 40,000. [ Downsizing: The latest 'quick fix' to the housing crisis as the Government desperately looks for answers Opens in new window ] The acceleration in housing supply in 2021, 2022 and 2023 was in the main driven by apartment developments in Dublin. The current stagnation is primarily because of a fall-off in this type of development. Apartment completions fell from 12,000 units to 9,000 last year and are expected to fall again this year. Cairn Homes chief executive Michael Stanley claimed last week that the State could not build 50,000 homes a year, the Government's target, without building 25,000 apartments a year because of a shortage of available land in cities. 'To hit 50,000 units a year in Ireland, and it's the answer nobody wants to hear, it has to include 25,000 apartments,' he said.
Irish Times
09-05-2025
- Business
- Irish Times
Germany's Dax hits record high as European shares rise on trade deal hopes
European shares advanced on Friday, with Germany's DAX index closing at an all-time high, as signs of easing global trade war relieved investors as they eyed talks between the US and China over the weekend. The pan-European Stoxx 600 index ended 0.4 per cent higher. Frankfurt's DAX index climbed 0.6 per cent. DUBLIN The Iseq All-Share index rose 0.4 per cent to 10,883.69. Banking stocks were mixed. Bank of Ireland added 1.3 per cent to €11, as sector followers digested some solid quarterly earnings reports from the industry in Europe. AIB ended the session flat at €6.25, having put in a strong performance earlier in the week, before the bank bought back €1.2 billion of shares from the Government. PTSB ended the session of 0.9 per cent at €1.70. READ MORE Housebuilders advanced, with Cairn Homes up 0.7 per cent at €2.07, while Glenveagh Properties inched 0.2 per cent higher to €1.65. Davy raised its earnings estimates for Cairn and reiterated its outperform rating on the stock on Friday. Ryanair dipped 0.5 per cent to €22, unable to glean much supporter after Aer Lingus owner IAG reported a better-than-expected first-quarter profit and maintained its outlook for 2025. LONDON UK equities closed higher, as investors assessed fresh comments from US president Donald Trump regarding tariffs on China ahead of a key weekend meeting between the two countries, with energy and mining stock providing further boost. The blue-chip FTSE 100 rose 0.3 per cent. Trump said in a Truth Social post that Beijing should open up its market to the US and that 80 per cent tariffs on Chinese goods 'seems right'. The levies are currently at 145 per cent. Heavyweight BP rose 4.7 per cent, the top gainer in the FTSE 100 index, after a Financial Times report said Shell, Chevron, Exxon Mobil, TotalEnergies and ADNOC have 'run the numbers' for a possible takeover of the oil major. Precious metal miners led the sectoral gains with 2.1 per cent rise after gold rose over 1 per cent. IAG gained 2.4 per cent on the back of the airline group's quarterly report. Travis Perkins jumped 6.9 per cent to the top of the midcap index after the building materials supplier appointed Gavin Slark, former chief executive of Dublin-based Grafton Group, as its new CEO. EUROPE Automobiles, susceptible to tariffs-related headlines, rose 0.8 per cent and was among the best-performing sub-indexes for the week. The Stoxx 600 clocked its fourth straight weekly advance, making modest gains of 0.2 per cent in a busy week that saw the US Federal Reserve hold rates and the Bank of England deliver a quarter-point rate cut. Among individual stocks, Commerzbank rose 4 per cent after the German lender posted a surprise profit growth in the first quarter. Mediobanca rose 5.4 per cent after its quarterly profit beat market forecast amid the investment bank's attempts to fend off an unsolicited bid from smaller rival Banca Monte dei Paschi (MPS). Shares in Bavarian Nordic jumped 6.1 per cent after the Danish biotech firm's first-quarter revenue beat market expectations. NEW YORK US stock index futures were subdued in early afternoon trading, after a rally in the previous session. 'Yesterday's price action suggests that investors are eager for good news and react positively – even if the news isn't that great ... it's all in how it's delivered,' said Ipek Ozkardeskaya, senior analyst at Swissquote Bank. Fed chair Jerome Powell said on Wednesday the economy was in good shape, but acknowledged the heightened risks of inflation and unemployment and that it was unclear what the appropriate monetary policy response was at the moment. Pinterest climbed a day after it forecast current-quarter revenue above estimates. Expedia slipped after the online travel platform missed quarterly revenue estimates. Additional reporting, Reuters
Irish Examiner
08-05-2025
- Business
- Irish Examiner
Level of office building over house building 'not sustainable', says developer
The high level of office building versus the low level of residential building in cities such as Dublin and Cork is 'simply not sustainable', the chief executive of Cairn Homes has said, adding that apartment construction will need to increase significantly if housing targets are to be reached. Michael Stanley was speaking following Cairn Homes' annual general meeting (AGM) in Dublin on Thursday. He said Dublin is 'quite a unique city, and Cork is not dissimilar' in that the amount of land available to increase the number of people living in our city is 'pretty low' and a very large proportion of that land that was available now has offices built on it. 'We have been incredibly successful as a city in building new office blocks, to some extent, hotels also,' he said. 'If you look at the ratio of office build to apartment build in central Dublin it's roughly a ratio of 6 sqm or 7 sqm of office for every sqm of residential and that's just simply not sustainable. We can't have a city, a vibrant city, with all of the positive things that goes with any city that people live in, if you have that imbalance in what's built. On whether the housing development sector will reach the Government's stated goal of 300,000 new homes by 2030 - 50,000 a year - Mr Stanley said in order to hit those targets, 25,000 new units would have to be apartments. 'I've no doubt that Ireland will build 25,000 low density homes a year, every year, and there will be demand for those,' he said. "Apartment building in Ireland is not straightforward,' he said, adding that regulations on building apartments are high. Home completions last year stood at 30,330 - far below what the Government expected - largely due to a fall-off in apartment completions. The number of apartments completed in 2024 was 8,763, down 24.1% from 2023. At the company's AGM, the property developer welcomed a 'very positive" trading environment, with 2025 so far seeing continued scaling in the homebuilder's operating platform and increased investment in the number of active sites across Ireland. Reiterating its guidance for this year, Cairn Homes said its closed and forward sales pipeline now stands at around 3,250 new homes with a net sales value of approximately €1.25bn. That is up from 2,953 closed and forward sales at the end of February, which totalled a net sales value of €989m. Mr Stanley said their target is to grow their housing output by between 10% and 15% this year. 'We like our chances of hitting our growth targets and continue to deliver more,' he said. Cairn Homes said it expects build cost inflation to be running at 2% and while it was mindful of the potential impact of changes in global trade policies, it is not witnessing any adverse effect on its business at present. The company said it is seeing a stable environment for labour costs and they are not expecting to see significant growth in their average selling price this year. Cairn Homes is forecasting revenue growth in excess of 10% for 2025, with operating profit expected to be around €160m. Housing commencements so far this year are trending far lower than during 2024 with just under 3,000 notices issued between January and March. The number of commencements in 2024 were boosted by developers rushing to begin developments to take advantage of a series of levy waivers and rebates. Read More Thousands of new homes planned for Cork, but planning and infrastructure still holding projects back
