Itaú BBA, Safra and BTG Pactual evaluate the numbers. (Image: Reproduction)
A Cury (CURY3) released its operational preview of the third quarter of 2024 (3T24) on Thursday night (03). The numbers once again showed a solid result and in line with market estimates.
During the period, the company produced 4,168 units, an unprecedented volume in the company's history, which represents an increase of 20% compared to the same period of the previous year.
With nine projects launched in the third quarter of 2024, the company achieved a General Sales Value (PSV) of R$1.6 billion, an increase of 66.1% compared to 3Q23. The performance was reflected in net sales, which totaled R$1.4 billion in the third quarter of this year, an increase of 48% compared to the same quarter in 2023.
“With the increase in units produced and the strong volume of launches, we grew in sales and expanded our land bank. All these movements reinforce the good performance of the real estate market, with great opportunities for projects of social interest, through Minha Casa, Minha Vida”, points out Fábio CuryCEO and Cury Construction company in note.
Among the highlights, the Itaú BBA points out the record levels of cash flow generation and the number of units, in addition to the companies showing a constant pace of launches and sales, keeping cancellation rates under control.
“In our opinion, investors will be positively surprised by the record cash flow generation and the accelerated pace of launches, which could create space for dividend payments this year”, expressed the house shortly after the release of the preview.
At the opening of today's trading session (04), the company's shares rose, but soon after retreated and remained at a negative level. At 3pm, the shares fell 0.70%, worth R$22.79, the lowest level of the day being R$22.56.
Another bank that also liked what it saw was BTG Pactual. The numbers, according to the analysts who signed the report, justify the “buy” rating that the house has for the stock.
For Safra, however, even though the reading is that the operational results were “inspiring”, the institution believes that the 3Q results have already been, to a large extent, included, which justifies a “neutral” reaction from the market the day following publication.
Check the banks’ recommendations
| Institution | Recommendation | Target Price |
|---|---|---|
| BTG Pactual | Buy | R$ 21 |
| Itaú BBA | Buy | R$ 25 |
| Harvest | Buy | R$ 25 |
Cury (CURY3) announces payment of R$100 million in dividends
A Cury (CURY3) announced this Wednesday (02) that its board of directors approved the distribution of dividends intermediaries worth a total of R$100 million. The amount corresponds to R$0.3449652297 per common share.
Payment of the proceeds will be made on October 31st of this year and will refer to the existing profit reserves based on the company's quarterly financial information for the period ending on June 30th, 2024.