Jefferies Financial Group Reaffirms Buy Rating for Bellway (LON:BWY)

Bellway (LON:BWY)‘s stock had its “buy” rating reissued by stock analysts at Jefferies Financial Group in a research report issued on Wednesday, Digital Look reports. They currently have a GBX 2,380 price target on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 12.37% from the stock’s current price.

Several other brokerages also recently issued reports on BWY. JPMorgan Chase & Co. downgraded shares of Bellway to an “overweight” rating and reduced their price objective for the company from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 2,917 target price on shares of Bellway in a research note on Wednesday, August 12th. Citigroup lifted their target price on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research note on Wednesday, August 12th. Finally, Berenberg Bank cut their price target on Bellway from GBX 2,550 to GBX 2,450 and set a “buy” rating for the company in a report on Wednesday. Six investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Bellway presently has an average rating of “Moderate Buy” and a consensus target price of GBX 2,527.89.

Bellway Stock Performance

Bellway stock traded up GBX 2 during midday trading on Wednesday, reaching GBX 2,118. 812,794 shares of the company were exchanged, compared to its average volume of 3,883,246. The company has a market capitalization of £2.36 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 3.40 and a beta of 1.37. The firm’s 50-day simple moving average is GBX 2,093.63 and its 200-day simple moving average is GBX 1,982.56. Bellway has a 1 year low of GBX 1,715 and a 1 year high of GBX 2,890.

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

Bellway declared that its board has authorized a stock buyback program on Tuesday, September 1st that allows the company to buy back 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Bellway Company Profile

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.