FTSE 250 movers: Redrow, Wizz Air slump
Sharecast
Published Nov 10, 2023 14:21
Updated Nov 10, 2023 14:41
FTSE 250 movers: Redrow, Wizz Air slump
Sharecast - Redrow (LON:RDW) slumped as it warned that full-year sales and profits would likely be at the lower end of guidance due to a subdued Autumn trading period.
The housebuilder said all of its key performance metrics have worsened year-on-year since the start of the financial year which began on 3 July, such as the value of reservations, average reservations per outlet, cancellations, selling prices and the order book.
Wizz Air (LON:WIZZ) flew lower as RBC Capital Markets cut its price target on the shares to 3,200p from 3,400p.
The bank - which rates the stock at ‘outperform’ - said it was cutting estimates and the price target after the first-half results.
"In 2023/24E we forecast net income of €354m towards the lower end of Wizz Air's €350-400m guided range," it said.
"Our largest downgrades are in 2024/25E reflecting guidance for flattish capacity. We remain Outperform; expectations on engine headwinds have been rebased and even a partial margin recovery offers scope for more than 150% potential share price upside."
FTSE 250 - Risers
Digital 9 Infrastructure NPV (DGI9) 53.00p 3.52%
Plus500 (LON:PLUSP) Ltd (DI) (PLUS) 1,437.00p 1.34%
Foresight Group Holdings Limited NPV (FSG) 405.00p 1.00%
Ithaca Energy (LON:ITH) 158.60p 0.89%
North Atlantic Smaller Companies Inv Trust (NAS) 3,620.00p 0.84%
Empiric Student Property (ESP) 92.60p 0.65%
NextEnergy Solar Fund Limited Red (LON:NESF) 84.95p 0.53%
Mitie Group (LON:MTO) 105.00p 0.38%
Balfour Beatty (LON:BALF) (BBY) 315.20p 0.38%
Volution Group (FAN) 393.40p 0.31%
FTSE 250 - Fallers
Ceres Power Holdings (LON:CWR) 195.60p -6.86%
CLS Holdings (CLI) 86.30p -5.89%
Redrow (RDW) 492.40p -5.31%
Indivior (INDV) 1,304.00p -5.23%
Aston Martin Lagonda Global Holdings (AML) 201.80p -4.09%
TBC Bank Group (TBCG) 2,705.00p -3.91%
Wizz Air Holdings (WIZZ) 1,619.50p -3.60%
Future (FUTR (LON:FUTR)) 887.50p -3.53%
IP Group (LON:IPO) 44.80p -3.45%
888 Holdings (DI) (LON:888) 81.40p -3.38%
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Written By: Sharecast
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