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

Thanks to a better fundamental star rating, CRH PLC sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to CRH PLC (IE), active in the Building Materials & Fixtures industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date August 7, 2020, the closing price was EUR 32.68 and its expected value was estimated at EUR 31.59.

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Cemex: a good Q2 in an uncertain climate

>Q2 2020 results substantially better than expected - Cemex has reported its Q2 2020 results. EBITDA came in at $ 554m, 27% above the consensus ($ 435m), down 6% l-f-l and 11% vs Q2 2019. Q2 sales were down by 14% in real terms 10% l-f-l ($ 2.912bn) and FCF dropped by 35% in Q2 after an improvement of 36% in Q1 2020 and +38% in Q4 2019.Broadly positive read across on forthcoming earnings reports for LafargeHolcim and CRH. HeidelbergCement's Q2 2020 results, which...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Cemex : un bon T2 dans un contexte incertain

>Résultats T2 2020 largement au-dessus des attentes - Cemex a publié ses résultats du T2 2020. L’EBITDA ressort à 554°M$, soit 27% au-dessus du consensus (435°M$) en recul de 6% à pcc et 11% par rapport au T2 2019. Sur le T2, le CA recule de 14% en réel et de 10% à pcc (2 912°M$) et le FCF de 35% après une amélioration de 36% au T1 20 et +38% au T4 19.Read across globalement positif sur les publications à venir pour LafargeHolcim et CRH. HeidelbergCement a déjà p...

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. ...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Cemex: a good Q2 in an uncertain climate

>Q2 2020 results substantially better than expected - Cemex has reported its Q2 2020 results. EBITDA came in at $ 554m, 27% above the consensus ($ 435m), down 6% l-f-l and 11% vs Q2 2019. Q2 sales were down by 14% in real terms 10% l-f-l ($ 2.912bn) and FCF dropped by 35% in Q2 after an improvement of 36% in Q1 2020 and +38% in Q4 2019.Broadly positive read across on forthcoming earnings reports for LafargeHolcim and CRH. HeidelbergCement's Q2 2020 results, which...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Cemex : un bon T2 dans un contexte incertain

>Résultats T2 2020 largement au-dessus des attentes - Cemex a publié ses résultats du T2 2020. L’EBITDA ressort à 554°M$, soit 27% au-dessus du consensus (435°M$) en recul de 6% à pcc et 11% par rapport au T2 2019. Sur le T2, le CA recule de 14% en réel et de 10% à pcc (2 912°M$) et le FCF de 35% après une amélioration de 36% au T1 20 et +38% au T4 19.Read across globalement positif sur les publications à venir pour LafargeHolcim et CRH. HeidelbergCement a déjà p...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : A Q2 in lockdown hell

We are forecasting an historically low H1 2020, penalised by the lockdown effects. On the basis of our H1 estimates and the full-year consensus, several stocks are likely to disappoint (Imerys and Vicat). Conversely, the full-year consensus seems to incorporate a margin for error and, possibly, potential for upward revision for LafargeHolcim, Getlink and Eiffage. Saint-Gobain and Eiffage remain our favourite stocks, particularly as the market and investors are already looking to ...

Sven Edelfelt ...
  • Virginie Rousseau

ODDO : Un T2 dans l’enfer du confinement

Nous tablons sur un S1 2020 historiquement bas, pénalisé par les effets du confinement. Sur la base de nos estimations S1 et du consensus annuel, plusieurs valeurs nous semblent susceptibles de décevoir (Imerys et Vicat). A l’inverse, le consensus annuel nous semble intégrer une marge d’erreur, voire un potentiel de révision à la hausse pour LafargeHolcim, Getlink et Eiffage. Saint-Gobain et Eiffage restent nos valeurs préférées d’autant que le marché et les investisseurs ont déj...

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...

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). - ...

Thanks to a better fundamental star rating, CRH PLC sees an upgrade to Neutral

The independent financial analyst theScreener just awarded an improved star rating to CRH PLC (IE), active in the Building Materials & Fixtures industry. As regards its fundamental valuation, the title receives an improved star rating and now shows 4 out of 4 possible stars. With regard to its market behaviour, it remains unchanged and can be qualified as risky. theScreener considers that these elements allow slightly upgrading its rating to Neutral. As of the analysis date August 7, 2020, the closing price was EUR 32.68 and its expected value was estimated at EUR 31.59.

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.

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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