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    CRG   IE0001827041

CRH PLC

(CRG)
  Report
Real-time Irish Stock Exchange  -  05/20 11:39:02 am EDT
37.19 EUR   +0.60%
05/20Jefferies Ups CRH PT, Keeps Buy Rating
MT
05/20CRH : Jefferies reiterates its Buy rating
MD
05/19CRH plc Appoints Badar Khan as Non-Executive Director
CI
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CRH Plans Sale of US Based Glass Building Products Unit

12/07/2021 | 12:48pm EDT

CRH plc (ISE:CRG) is planning a sale of its Oldcastle BuildingEnvelope, Inc. that could fetch more than $3 billion, people with knowledge of the matter said. The company is working with advisers and recently started reaching out to potential buyers, said the people, who asked not to be identified discussing confidential information. The U.S.-based unit is likely to attract interest from private equity firms, according to the people. Oldcastle Building Envelope generates around $300 million in annual earnings before interest, taxes, depreciation, and amortization, the people said. The unit makes glass building products for projects ranging from storefronts and building entrances to shower enclosures and skylights. Chief Executive Officer Albert Manifold has made several bolt-on acquisitions for CRH in 2021, including the purchase of Hancock Concrete Products LLC to expand its concrete pipe business in the U.S. Midwest. Any transaction would add to the $49 billion of deals targeting the building materials industry announced in 2021, according to data compiled by Bloomberg. The Dublin-based company, which regularly prunes its portfolio, could still decide to keep the business, the people said. “We suspect the group is biding its time waiting for the right opportunity, while it continues to buy back shares and possibly pay a higher, rebased dividend again,” Stifel’s Woerner wrote, when discussing what the cash could be used for given the company’s “very strong” balance sheet. A representative for CRH declined to comment.


© S&P Capital IQ 2021
All news about CRH PLC
05/20Jefferies Ups CRH PT, Keeps Buy Rating
MT
05/20CRH : Jefferies reiterates its Buy rating
MD
05/19CRH plc Appoints Badar Khan as Non-Executive Director
CI
05/18CRH : Barclays maintains a Buy rating
MD
05/11CRH : JP Morgan keeps its Buy rating
MD
05/10CRH PLC : Crossing thresholds
CO
05/06CRH : Receives a Buy rating from Jefferies
MD
05/03CRH Closes $3.8 Billion Sale of Building Envelope Division
MT
04/30CRH PLC : Monthly statement on outstanding equity shares and voting rights
CO
04/29KPS Capital Partners, LP completed the acquisition of Oldcastle BuildingEnvelope, Inc. ..
CI
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Analyst Recommendations on CRH PLC
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Financials
Sales 2022 30 165 M 31 822 M 31 822 M
Net income 2022 2 472 M 2 608 M 2 608 M
Net Debt 2022 3 983 M 4 202 M 4 202 M
P/E ratio 2022 11,9x
Yield 2022 3,22%
Capitalization 28 383 M 29 943 M 29 943 M
EV / Sales 2022 1,07x
EV / Sales 2023 1,01x
Nbr of Employees 77 400
Free-Float 99,5%
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Mean consensus BUY
Number of Analysts 16
Last Close Price 37,19 €
Average target price 51,13 €
Spread / Average Target 37,5%
EPS Revisions
Managers and Directors
Albert Jude Manifold Chief Executive Officer & Executive Director
Jim Mintern Director & Finance Director
Richard P. Boucher Chairman
Randy G. Lake Chief Operating Officer
Gillian L. Platt Senior Independent Non-Executive Director
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