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

Bellway (LON:BWY)‘s stock had its “buy” rating reiterated by equities researchers at Jefferies Financial Group in a report issued on Wednesday, Digital Look reports. They presently have a GBX 2,380 target price on the stock. Jefferies Financial Group’s target price would suggest a potential upside of 12.37% from the stock’s previous close.

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

Bellway Stock Up 0.1%

Shares of LON BWY opened at GBX 2,118 on Wednesday. Bellway has a fifty-two week low of GBX 1,715 and a fifty-two week high of GBX 2,890. The firm has a market cap of £2.36 billion, a PE ratio of 16.09, a price-to-earnings-growth ratio of 3.40 and a beta of 1.37. The business has a 50 day moving average price of GBX 2,093.63 and a two-hundred day moving average price of GBX 1,982.56.

Bellway (LON:BWY) last released 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 anticipate that Bellway will post 159.07 earnings per share for the current year.

Bellway declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, September 1st that allows the company to buy back 0 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Share buyback plans are generally a sign that the company’s management 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.