Bellway (LON:BWY) Given New GBX 3,300 Price Target at Royal Bank Of Canada

Bellway (LON:BWY) had its target price hoisted by Royal Bank Of Canada from GBX 3,150 to GBX 3,300 in a report published on Wednesday, Marketbeat.com reports. The brokerage currently has a sector perform rating on the stock.

Several other analysts have also weighed in on BWY. Jefferies Financial Group lowered their target price on shares of Bellway from GBX 3,626 to GBX 3,482 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Berenberg Bank reiterated a “hold” rating and set a GBX 2,900 target price on shares of Bellway in a research note on Monday, September 8th. Finally, Citigroup lowered their target price on shares of Bellway from GBX 3,100 to GBX 3,000 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 3,193.

Bellway Trading Down 0.4%

BWY opened at GBX 2,578 on Wednesday. The stock has a market capitalization of £3.06 billion, a PE ratio of 2,097.64, a P/E/G ratio of 3.40 and a beta of 1.46. The firm’s fifty day moving average price is GBX 2,405.77 and its 200 day moving average price is GBX 2,545.44. The company has a debt-to-equity ratio of 3.75, a current ratio of 5.26 and a quick ratio of 0.50. Bellway has a 12-month low of GBX 2,134 and a 12-month high of GBX 3,370.

Bellway (LON:BWY) last released its earnings results on Tuesday, October 14th. The company reported GBX 176.70 earnings per share for the quarter. Bellway had a net margin of 5.48% and a return on equity of 3.78%. As a group, research analysts expect that Bellway will post 159.0741715 EPS for the current fiscal year.

Bellway declared that its board has approved a stock repurchase program on Tuesday, October 14th that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are 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.