Bellway’s (BWY) “Buy” Rating Reaffirmed at Berenberg Bank

Bellway (LON:BWY)‘s stock had its “buy” rating reaffirmed by equities researchers at Berenberg Bank in a report issued on Friday,Digital Look reports. They presently have a GBX 2,400 price target on the stock. Berenberg Bank’s price objective indicates a potential upside of 19.17% from the company’s current price.

BWY has been the topic of a number of other reports. JPMorgan Chase & Co. cut shares of Bellway to an “overweight” rating and dropped their target price for the company from GBX 3,480 to GBX 2,410 in a research note on Tuesday, June 16th. Stifel Nicolaus dropped their price objective on Bellway from GBX 2,280 to GBX 1,900 and set a “hold” rating on the stock in a research note on Thursday, March 26th. Jefferies Financial Group reiterated a “buy” rating and issued a GBX 2,394 price objective on shares of Bellway in a research note on Wednesday, June 10th. Bank of America reduced their price objective on Bellway from GBX 3,200 to GBX 2,200 and set a “buy” rating for the company in a report on Friday, March 27th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 3,150 target price on shares of Bellway in a research report on Wednesday, March 25th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,449.75.

Bellway Price Performance

Shares of LON BWY remained flat at GBX 2,014 during mid-day trading on Friday. The stock had a trading volume of 612,645 shares, compared to its average volume of 5,215,270. The firm has a market cap of £2.30 billion, a price-to-earnings ratio of 15.30, a price-to-earnings-growth ratio of 3.40 and a beta of 1.38. Bellway has a 12 month low of GBX 1,715 and a 12 month high of GBX 2,998. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 5.39. The stock has a 50 day moving average price of GBX 1,891.08 and a 200-day moving average price of GBX 2,295.66.

Bellway (LON:BWY) last issued its quarterly earnings results on Tuesday, March 24th. The company reported GBX 91.20 earnings per share for the quarter. Bellway had a net margin of 5.46% and a return on equity of 4.43%. As a group, sell-side analysts forecast that Bellway will post 159.0741715 EPS for the current fiscal year.

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.