Stockbrokers push up Heiton’s EPS forecast

HEITON’S up-beat trading statement has prompted Davy, Merrion and NCB stockbrokers to push up their earnings per share (EPS) forecast for the current year.

Merrion analyst John Mattimoe said that following the statement “we are upgrading our normalised EPS forecast for the full year by 4% to 51.5c from 49.5c.

“The continued buoyancy in domestic housebuilding activity has favourably impacted H2 trading, while the benefits of the prior year cost restructuring has allowed the company to fully benefit from the good environment at the bottom line. Good margin recovery has been realised in the UK operation in H2 reflecting the restructuring efforts there during the year,” he said.