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

Bellway (LON:BWY)‘s stock had its “buy” rating restated by stock analysts at Jefferies Financial Group in a report issued 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 13.01% from the company’s current price.

BWY has been the subject of a number of other reports. Berenberg Bank reduced their price objective 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. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a GBX 2,917 target price on shares of Bellway in a research note on Wednesday, August 12th. JPMorgan Chase & Co. cut shares of Bellway to an “overweight” rating and lowered their target price for the company from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Finally, Citigroup increased their price target on shares of Bellway from GBX 2,300 to GBX 2,500 and gave the stock a “buy” rating in a research report on Wednesday, August 12th. Six research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 2,527.89.

Bellway Price Performance

Shares of BWY traded up GBX 60 on Wednesday, reaching GBX 2,106. 389,309 shares of the stock traded hands, compared to its average volume of 3,896,736. The firm has a market cap of £2.35 billion, a price-to-earnings ratio of 16.00, a P/E/G ratio of 3.40 and a beta of 1.37. Bellway has a 12 month low of GBX 1,715 and a 12 month high of GBX 2,890. The stock’s 50-day moving average price is GBX 2,093.44 and its 200-day moving average price is GBX 1,979.38.

Bellway (LON:BWY) last announced 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, equities research analysts forecast that Bellway will post 159.07 earnings per share for the current fiscal year.

Bellway announced that its Board of Directors has approved a stock buyback plan on Tuesday, September 1st that authorizes the company to buy back 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Share repurchase plans are usually a sign that the company’s board of directors 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.