Bellway (LON:BWY) Earns “Buy” Rating from Jefferies Financial Group

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

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

Bellway Stock Up 0.1%

LON:BWY opened at GBX 2,118 on Wednesday. The stock has a market capitalization of £2.36 billion, a price-to-earnings ratio of 16.09, a PEG ratio of 3.40 and a beta of 1.37. Bellway has a 52 week low of GBX 1,715 and a 52 week high of GBX 2,890. The firm has a 50 day moving average of GBX 2,093.63 and a 200 day moving average of GBX 1,982.56.

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

Bellway announced that its board has authorized a stock buyback plan on Tuesday, September 1st that permits the company to buy back 0 outstanding shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management 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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.