|Bid||2,714.00 x 0|
|Ask||2,715.00 x 0|
|Day's range||2,693.00 - 2,742.00|
|52-week range||1,961.00 - 2,889.00|
|Beta (3Y monthly)||1.03|
|PE ratio (TTM)||6.56|
|Earnings date||22 Aug 2019|
|Forward dividend & yield||0.63 (2.31%)|
|1y target est||27.82|
Ireland's CRH, the world's second-largest building materials supplier by market value, has appointed Richard Boucher as its new chairman, replacing Nicky Hartery, who will retire at the end of the year. Boucher, who was chief executive of Bank of Ireland between February 2009 and October 2017, joined the CRH board in March 2018 and has been chairman of the company's remuneration committee since September of that year. Born in Northern Rhodesia, Boucher spent 37 years in banking in Ireland, the UK and the United States.
Shares in construction material group CRH (LON:CRH) have been in an uptrend in recent months, and the question now for investors is whether that price strength8230;
Ocado Group plc (LON: OCDO) shares look priced for growth, but here's a FTSE 100 (INDEXFTSE: UKX) stock that I think will beat it.
Target shares surged 20% and Lowe jumped 10%, helping lift Wall Street almost 1% on the day. The Federal Reserve board doesn’t seem to think so -- the July meeting minutes yesterday showed members united in wanting to signal they were not on a pre-set path to more easing. If we get more of that hawkish bent from Fed Chairman Jerome Powell at Jackson Hole tomorrow, it could well dash hopes for a prolonged easing cycle.
Ireland's CRH announced another 350 million euro ($388 million) round of share buybacks on Thursday after its earnings rose by 5% on a like-for-like basis in the first half and it said it expected further progress in the second half. The world's second-biggest building materials supplier by market value launched its first share buyback programme in a decade last year and had completed the repurchase of 1.35 billion euros of shares by the end of August. Having generated almost 11 billion euros of free cash flow over the last five years - representing an industry-leading conversion rate, according to Davy Stockbrokers - CRH has become a "cash machine", Chief Executive Albert Manifold told Reuters, as he also announced a 2% increase in its interim dividend.
Welcome to the home for real-time coverage of European equity markets brought to you by Reuters stocks reporters and anchored today by Thyagaraju Adinarayan. Stock futures indicate a weak open in Europe as anxious investors avoid risky bets ahead of UK PM Boris Johnson's meeting with France's Macron today on Brexit, August PMI data from key euro-zone economies and the Jackson Hole summit on Friday. Eurostoxx futures are down 0.2% and the CAC and DAX futures are down 0.3%.
European funds managing $2 trillion in assets called on cement companies to slash their greenhouse gas emissions on Monday, warning that a failure to do so could put their business models at risk. With the extreme weather and natural disasters associated with climate change intensifying around the world, some asset managers are ramping up engagement with heavy polluters to demand a faster transition to a cleaner economy. “The cement sector needs to dramatically reduce the contribution it makes to climate change," said Stephanie Pfeifer, chief executive of the Institutional Investors Group on Climate Change, which has more than 170 members, mainly European pension funds and asset managers.
Irish building materials supplier CRH is selling its underperforming European distribution unit to Blackstone-backed private equity funds for 1.64 billion euros ($1.85 billion), including net debt. With the sale, the Dublin-based company, which provides cement, asphalt and other building materials, would completely exit the distribution business as it tries to improve core profit margins.
Irish cement maker CRH needs to press ahead with extensive structural improvements, activist shareholder Cevian told Reuters, adding that the company could double in value in the next three to five years if it does so. CRH has been on a $10 billion acquisition spree over the past four years, accumulating a complicated structure, but has now begun shedding some assets and put its $2.3 billion European distribution arm up for strategic review. U.S.-based peers Eagle Materials and Summit Materials have both attracted activist attention this year, and Cevian, Europe's biggest activist shareholder, disclosed its almost 3% stake in CRH in February.