Taylor Wimpey Downgraded to 'Outperform' by Royal Bank Of Canada

Homebuilder Taylor Wimpey (LON:TW) has been downgraded to an 'outperform' rating by equities research analysts at Royal Bank Of Canada. The downgrade was made in a research note issued to investors on Monday, July 26th. This is not the first time that Royal Bank Of Canada has changed its opinion on Taylor Wimpey's stock; previously, they had set a price target of GBX 115, which they have now revised down to GBX 110.

The new price target indicates a potential upside of 41.03% from the stock's current price of GBX 78. This is based on data from London Stock Exchange reports. The downgrade and change in price target come after several other research analysts have also weighed in on Taylor Wimpey's stock. Deutsche Bank Aktiengesellschaft, for example, cut their target price on shares of Taylor Wimpey from GBX 122 to GBX 96, while Jefferies Financial Group dropped their price target from GBX 105 to GBX 103.

Taylor Wimpey's latest quarterly earnings data was released on Friday, July 31st. The company reported a net margin of 6.43% and a return on equity of 5.99%. Analysts are predicting that Taylor Wimpey will post earnings per share of £9.83 for the current fiscal year.