Bellway (LON:BWY) Stock Gets Price Target Cut from Berenberg Bank

Bellway (LON:BWY) had its price target trimmed by Berenberg Bank from GBX 2,550 to GBX 2,450 in a research note released on Wednesday morning,Digital Look reports. The firm currently has a buy rating on the stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. downgraded Bellway to an “overweight” rating and dropped their price objective for the company from GBX 3,480 to GBX 2,410 in a report on Tuesday, June 16th. Citigroup upped 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. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 2,380 price target on shares of Bellway in a research report on Monday, September 28th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 2,917 price objective on shares of Bellway in a report on Wednesday, August 12th. Six equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Bellway presently has an average rating of “Moderate Buy” and a consensus price target of GBX 2,527.89.

Bellway Stock Performance

Shares of BWY stock opened at GBX 2,118 on Wednesday. The stock has a market cap 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. Bellway has a 52-week low of GBX 1,715 and a 52-week high of GBX 2,890. The firm has a fifty day moving average of GBX 2,093.63 and a 200-day moving average of GBX 1,982.56.

Bellway (LON:BWY) last issued its quarterly earnings data 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, sell-side analysts predict that Bellway will post 159.07 earnings per share for the current year.

Bellway declared that its Board of Directors has approved a stock repurchase plan on Tuesday, September 1st that permits the company to repurchase 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is 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.