Bellway’s (BWY) Buy Rating Reiterated at Jefferies Financial Group

Jefferies Financial Group restated their buy rating on shares of Bellway (LON:BWY) in a research note published on Wednesday,Digital Look reports. They currently have a GBX 2,380 price objective on the stock.

A number of other equities analysts have also weighed in on the stock. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 2,917 price target on shares of Bellway in a research report on Wednesday, August 12th. JPMorgan Chase & Co. lowered Bellway to an “overweight” rating and cut their price objective for the company from GBX 3,480 to GBX 2,410 in a research report on Tuesday, June 16th. Citigroup upped their price objective on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Finally, Berenberg Bank lowered their price target on shares of Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating for the company in a report on Wednesday. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of GBX 2,527.89.

Bellway Stock Performance

LON:BWY opened at GBX 2,118 on Wednesday. The firm has a market cap of £2.36 billion, a P/E ratio of 16.09, a P/E/G ratio of 3.40 and a beta of 1.37. The firm has a 50-day simple moving average of GBX 2,093.63 and a two-hundred day simple moving average of GBX 1,982.56. Bellway has a fifty-two week low of GBX 1,715 and a fifty-two week high of GBX 2,890.

Bellway (LON:BWY) last issued its earnings results on Tuesday, October 13th. The company reported GBX 187.80 earnings per share for the quarter. Bellway had a return on equity of 5.49% and a net margin of 6.12%. On average, equities research analysts predict that Bellway will post 159.07 EPS for the current year.

Bellway declared that its Board of Directors has initiated a share repurchase program on Tuesday, September 1st that permits the company to buy back 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Share repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

About Bellway

Bellway p.l.c., together with its subsidiaries, engages in the home building business in the United Kingdom. The company builds and sells homes ranging from one-bedroom apartments to six-bedroom family homes, as well as provides homes to housing associations for social housing. It offers homes under Bellway, Ashberry, and Bellway London brands. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.