CRH is a diversified international building materials company. Co. is engaged in the manufacture and distribution of a range of building materials products from the fundamentals of heavy materials and elements to construct the frame, through value-added products that complete the building envelope, to distribution channels which service construction fit-out and renewal. Co. operates seven operating segments: Europe Heavyside, Europe Lightside, Europe Distribution, Americas Materials, Americas Products, Americas Distribution and Asia.
  • TickerCRG
  • ISINIE0001827041
  • ExchangeIrish Stock Exchange
  • SectorConstruction & Materials
  • CountryIreland
Delphine Brault ...
  • Sven Edelfelt
  • Virginie Rousseau

ODDO : Construction in France: when “les Bleus” become green

Recent announcements of stimulus plans in France and in Europe have kindled hope. The present report analyses in detail the different segments of the French construction sector. The sector could contract by 14%e in 2020 whilst 2021 will likely be marked by a rebound (+9% estimated) but this will not be enough to return it to its pre-crisis activity levels. We favour exposure to thermal renovation and infrastructure. Thus, Saint-Gobain, Eiffage and Vinci should turn in decent perf...

Delphine Brault ...
  • Sven Edelfelt
  • Virginie Rousseau

ODDO : Construction France : quand les Bleus se mettent au vert

Les annonces récentes de plans de relance en France et en Europe ont alimenté l’espoir. Cette note analyse dans le détail les différents segments dans la construction en France. Le secteur pourrait baisser de 14%e en 2020 alors que 2021 montrera un rebond (+9%e) toutefois insuffisant pour revenir sur les niveaux pré-crise. Nous privilégions les expositions à la rénovation thermique et aux infrastructures. Saint-Gobain, Eiffage et Vinci devraient ainsi tirer leur épingle du jeu, t...

With a more favourable environment, CRH PLC. improves to Slightly Positive

CRH PLC. (GB), a company active in the Building Materials & Fixtures industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date May 22, 2020, the closing price was GBp 2,452.00 and its potential was estimated at GBp 2,758.13.

Increased risk weighs on CRH PLC., penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of CRH PLC. (IE), active in the Building Materials & Fixtures industry. As regards its fundamental valuation, the title still shows 3 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date May 1, 2020, the closing price was EUR 27.55 and its target price was estimated at EUR 21.71.

CRH: 2 directors bought/sold

Two Directors at CRH bought/sold 14,362 shares at between 26.127EUR and 26.180EUR. The significance rating of the trade was 58/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Dave Nicoski ...
  • Ross LaDuke

Int'l Insights: Bullish Developed Markets Stocks

Overweight Global Technology & Industrials The absence of breakdowns in both the US dollar (DXY) and the MSCI EAFE vs. EM ratio along with the positive correlation between the two allows us to continue sticking with EAFE over EM... see charts below. As long as the DXY's uptrend remains intact, we expect EAFE to continue outperforming EM. Below we highlight attractive and actionable themes within developed int'l markets: • Technology and Industrial Manufacturing. Technology and Industrials continue to be two of the most attractive Sectors globally -- overweight. These two Sectors account fo...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

Breakout probability on the rise The probability for a breakout for global equities (MSCI ACWI) has increased in the past week based on several positive technical developments which we highlight below. Still, there are several indicators that continue to tell us we are not yet out of the woods. • Emerging Markets. The MSCI EM index exhibits bullish price and RS reversals -- add exposure/market weight. This is a major positive for both EM and global equities as it is a characteristic consistent with global bull markets and signals a significant improvement in investors' risk appetites... see...

Dave Nicoski ...
  • Ross LaDuke

Vermilion Int'l Compass: Global Equity Strategy

After failing to break above resistance, global equities (MSCI ACWI) have had a rough start to the third quarter. Tuesday's 10-year low reading for September's US ISM manufacturing index further spooked investors and reignited global growth concerns. Continued weakness in global manufacturing and the US-EU tariff escalation raises the potential for a breakdown in global equities, however our outlook remains neutral as long as the MSCI ACWI remains confined to its horizontal range. • Prevailing trends continue for major indexes. Trends that began in March/April remain intact. That is, the MSCI...

Jérôme VINERIER

Analyse court terme - CRH : La reprise est une consolidation.

La tendance de fond est clairement orientée à la baisse. Le MACD est négatif, il confirme cette tendance. La reprise est une consolidation qui va buter sur 26,05 € prochainement. Le prochain objectif est à 23,00 €, puis 21,22 €. Le franchissement de 26,05 € remettrait en cause la suite de la baisse.

Jérôme VINERIER

Short term view - CRH : Rising consolidation.

The background trend is clearly bearish. The negative MACD confirms the trend. The rise is a consolidation that will soon bump against the level at €26.05. The next target is at €23.00, then €21.22. Passing €26.05 would question the continuation of the fall.

Eric Lemarie

CRH: Positive start of the year | BUY | EUR38(+27%)

CRH - BUY | EUR38(+27%) Positive start of the year 7% organic top line growth in Q1 Still busy on the M&A side Positive guidance but not very precise yet Share-buy-back to continue

CRH: 2 directors bought/sold

Two Directors at CRH bought/sold 14,362 shares at between 26.127EUR and 26.180EUR. The significance rating of the trade was 58/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. ...

Delphine Brault ...
  • Sven Edelfelt
  • Virginie Rousseau

ODDO : Construction in France: when “les Bleus” become green

Recent announcements of stimulus plans in France and in Europe have kindled hope. The present report analyses in detail the different segments of the French construction sector. The sector could contract by 14%e in 2020 whilst 2021 will likely be marked by a rebound (+9% estimated) but this will not be enough to return it to its pre-crisis activity levels. We favour exposure to thermal renovation and infrastructure. Thus, Saint-Gobain, Eiffage and Vinci should turn in decent perf...

Delphine Brault ...
  • Sven Edelfelt
  • Virginie Rousseau

ODDO : Construction France : quand les Bleus se mettent au vert

Les annonces récentes de plans de relance en France et en Europe ont alimenté l’espoir. Cette note analyse dans le détail les différents segments dans la construction en France. Le secteur pourrait baisser de 14%e en 2020 alors que 2021 montrera un rebond (+9%e) toutefois insuffisant pour revenir sur les niveaux pré-crise. Nous privilégions les expositions à la rénovation thermique et aux infrastructures. Saint-Gobain, Eiffage et Vinci devraient ainsi tirer leur épingle du jeu, t...

Sven Edelfelt ...
  • Virginie Rousseau

CRH : Making the best of a bad job

>A good start to the year but COVID-19 already spoiling the party - CRH has published a broadly reassuring interim management statement. In Q1, sales were up 3% l-f-l thanks to a good performance in North America. By region, the America Materials division posted l-f-l growth of 8%, the Europe Materials branch was stable given stoppages due to lockdown measures in western Europe and the Building Products activity reported growth of 3% thanks to its exposure to North Am...

Sven Edelfelt ...
  • Virginie Rousseau

CRH : Faire contre mauvaise fortune bon cœur

>Un bon début d’année mais le COVID-19 gâche déjà la fête - CRH a publié un IMS globalement rassurant. Au T1, le CA ressort à +3% à pcc grâce à une belle performance en Amérique du Nord. Par zone géographique, la division America Materials enregistre une croissance à pcc de 8%, la branche Europe Materials ressort stable compte tenu de la mise à l’arrêt provoquée par le confinement dans les pays d’Europe de l’Ouest et la division Building Products enregistre une croiss...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : The end of one world and the beginning of a new era

A state of rational panic has overtaken the world and the real economy. Investors are envisaging a worst-case scenario, whereby businesses very survival is under threat. We have set this scenario to music. Over and above the temporary effect of the shutdown of the construction industry, the stimulus plans announced in many countries are unlikely to enable a return to the 2019 level in 2021. We prefer the groups with the most solid balance sheets. We have upgraded our recommendati...

CRH plc - December 2016 (LTM): Peer Snapshot

Peer Snapshot: CRH plc - December 2016 (LTM) 30 March 2017 (in US millions) FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM Dec-16 FYE Dec-14 FYE Dec-15 LTM

Alain William ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/23/2020

We estimate that net current cash flow per share for the property companies we cover will be reduced on average by -11.3% in 2020e and -6.0% in 2021e. Retail property companies are likely to be hit the hardest while office and healthcare property groups should prove more resilient. Our Top Picks against this backdrop are Gecina and Colonial in office property, Cofinimmo in healthcare property and Klépierre in retail property. We downgrade Merlin Properties from Buy to Neutral. - ...

Alain William ...
  • Alfred Glaser
  • Baptiste Lebacq
  • Charles Lepetitpas
  • Christophe-Raphaël Ganet
  • Delphine Brault
  • Emira Sagaama
  • Emmanuel Matot
  • Fatma Agnès Hamdani
  • Florent Laroche-Joubert
  • Jean Sassus
  • Johanna Jourdain
  • Martial Descoutures
  • Matthias Desmarais
  • Nicolas David
  • Pierre Tegner
  • Samantha Jeary
  • Sebastien Malafosse
  • Stephane Houri
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau
  • Yan Derocles

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 23/04/2020

...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Martial Descoutures
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – DETAILED COMMENTS 04/06/2020

A sector hard hit by COVID-19, with EPS estimates slashed by 35% and target prices by >25%; many high-risk stocks (e.g. Haulotte, Manitou, Exel Industries …) and few safe profiles (e.g. Albioma, Rubis and GTT). - ...

Delphine Brault ...
  • Emmanuel Matot
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF Small & MIDCAP MORNING NEWS - 04/06/2020

A sector hard hit by COVID-19, with EPS estimates slashed by 35% and target prices by >25%; many high-risk stocks (e.g. Haulotte, Manitou, Exel Industries …) and few safe profiles (e.g. Albioma, Rubis and GTT). - ...

Alain William ...
  • Alfred Glaser
  • Benoit Valleaux
  • Bruno Cavalier
  • Delphine Brault
  • Florent Laroche-Joubert
  • Jean Sassus
  • Martial Descoutures
  • Pierre Tegner
  • Roland Pfaender,MBA,CFA,CCRA
  • Sebastien Malafosse
  • Steven Gould
  • Sven Edelfelt
  • Virginie Rousseau

ODDO BHF SECURITIES MORNING NEWS – COMMENTAIRES DETAILLES 06/04/2020

Un secteur très impacté par COVID-19 avec une révision en baisse de ~35% des BPA et >25% de nos OC – De nombreux dossiers à risque élevé (Haulotte, Manitou, Exel Industries…) et rares sont les profils assez safe (Albioma, Rubis, GTT). - ...

With a more favourable environment, CRH PLC. improves to Slightly Positive

CRH PLC. (GB), a company active in the Building Materials & Fixtures industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, moderately risky market behaviour. The title leverages a more favourable environment and raises its general evaluation to Slightly Positive. As of the analysis date May 22, 2020, the closing price was GBp 2,452.00 and its potential was estimated at GBp 2,758.13.

Increased risk weighs on CRH PLC., penalising its rating down to Slightly Negative

The independent financial analyst theScreener just lowered the general evaluation of CRH PLC. (IE), active in the Building Materials & Fixtures industry. As regards its fundamental valuation, the title still shows 3 out of 4 possible stars. Its market behaviour, however, has slightly deteriorated and will be qualified as risky moving forward. theScreener considers that these new qualifications justify an overall rating downgrade to Slightly Negative. As of the analysis date May 1, 2020, the closing price was EUR 27.55 and its target price was estimated at EUR 21.71.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Expert Corporate Governance Service (ECGS)

CRH - AGM 23 April 2020

Item 3: Remuneration report The total remuneration of €9.7m granted to Mr. Manifold, CEO, is excessive given the Companyns size and scale, its sector and its performance. His pension benefit largely exceeds the peer average and the wider workforce level and, thus, does not comply with the UK Corporate Governance Code 2018. There are multiple KPI metrics in place, however, CRH chose to overlap STI and LTI performance criteria. In 2019, RONA (Return on Net Assets) reduced the TSR weight and now, 75% of the LTI is based on the same criteria with the annual bonus. Moreover, RONA and Cash Flow hav...

Expert Corporate Governance Service (ECGS)

CRH - AGM 26 April 2019

Item 4: Approve the Remuneration Policy Last year, the remuneration report was only approved by 57.7% of shareholders.  The Company states that they have engaged with shareholders about the new policy, which is submitted for approval. As it is not incorporated in the UK, the Company is not required by law to seek such approval. The changes proposed to the Remuneration Policy strengthen the alignment between pay and performance.  However, there are concerns over the structure of remuneration.  The bonus exceeds guidelines and total incentive pay is potentially excessive.  There are excessive ...

CRH PLC – Proxinvest Corporate Governance Rating ® : C

Proxinvest Corporate Governance Rating ® helps investors integrate governance into their investment decision and identify governance risks and opportunities within their portfolio. Proxinvest Corporate Governance Rating ® Service rates European issuers through the analysis of four main themes : Ownership & Shareholder rights, Board & Committees, Audit & Process, Remuneration. Each theme is rated taking into account several comprehensive sub-categories. Our unique two-step process to achieve each rating includes a first step quantitative valuation and a second step qualitative filter...

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