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Next week on the stock market

What to watch from the FTSE 100, FTSE 250 and selected other companies reporting week of 17th June 2024.
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Important information - This article isn’t personal advice. If you’re not sure whether an investment is right for you please seek advice. If you choose to invest the value of your investment will rise and fall, so you could get back less than you put in.

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Among those currently scheduled to release results next week:

17-Jun

No FTSE 350 Reporters

18-Jun

Ashtead*

Full Year Results

Sthree

Half Year Trading Statement

Whitbread*

Q1 Trading Statement

19-Jun

Berkeley*

Full Year Results

NextEnergy Solar Fund

Full Year Results

20-Jun

DS Smith*

Full Year Results

Syncona

Full Year Results

Urban Logistics Reit

Full Year Results

21-Jun

JLEN Environmental Assets Group

Full Year Results

*Events on which we will be updating investors

Is Ashtead heading for a US listing?

Ashtead reports full-year results hot on the heels of rumours it may be looking to move its listing to the US. It’s partly because the bulk of its sales are made in the US, but hefty Wall Street valuations are also likely to be a draw.

Softer performance of late has fuelled concerns that the recent boom in rental demand and strong pricing for Ashtead’s construction equipment is starting to ease. Mega projects in the US, while being a strong demand driver, are causing some operational headaches. But Ashtead’s scale gives it an edge over competitors and guidance out of the recent capital markets day was encouraging.

Prices delayed by at least 15 minutes

Will DS Smith’s takeover be de-railed?

It’s been quite the ride for DS Smith investors over the past few months as the takeover target for two of its key rivals. The board ultimately landed on an all-share offer from International Paper Company. But the drama doesn’t end there, International Paper Company itself is now subject to takeover talk, raising question marks about the implications on the DS Smith deal.

But underneath the takeover talk, lies a strong business. April’s statement suggested trading was in line with expectations so don’t expect too many surprises from full-year results. Price hikes and volume improvements are expected to help support earnings in the coming year. Longer-term, demand shifts like the move from plastic to paper should hold DS Smith in good stead.

Prices delayed by at least 15 minutes

Berkeley looks to be building up its cash pile

UK housebuilders have been on the back foot in recent years, struggling against a period of inflationary and regulatory challenges. Berkeley hasn’t managed to avoid these issues, but it appears to have dealt with them better than most. Its London focus and high-end product, with an average sale price of £624,000 at the last count, means it offers something different to other large housebuilders.

In next week’s full-year results, we’re expecting to see Berkeley deliver pre-tax profits of around £550mn. That’s in line with prior guidance but marks a 9% decline from the prior year as high mortgage rates have caused a relative lack of urgency among some buyers. Net cash levels will also be in focus. Back at the half-year mark, these were comfortably ahead of full-year targets, opening the door to feed cash back to shareholders through increased dividends and share buybacks. But as ever, no shareholder returns are guaranteed.

Prices delayed by at least 15 minutes

Unless otherwise stated estimates are a consensus of analyst forecasts provided by Refinitiv. These estimates are not a reliable indicator of future performance. Past performance is not a guide to the future. Investments rise and fall in value so investors could make a loss.

This article is not advice or a recommendation to buy, sell or hold any investment. No view is given on the present or future value or price of any investment, and investors should form their own view on any proposed investment. This article has not been prepared in accordance with legal requirements designed to promote the independence of investment research and is considered a marketing communication. Non-independent research is not subject to FCA rules prohibiting dealing ahead of research, however HL has put controls in place (including dealing restrictions, physical and information barriers) to manage potential conflicts of interest presented by such dealing. Please see our full non-independent research disclosure for more information.

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Written by
Matt-Britzman
Matt Britzman
Senior Equity Analyst

Matt is an Equity Analyst on the share research team, providing up-to-date research and analysis on individual companies and wider sectors.

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Article history
Published: 14th June 2024