Citigroup Forecasts Strong Price Appreciation for Bellway (LON:BWY) Stock

Bellway (LON:BWY) had its price objective boosted by equities researchers at Citigroup from GBX 3,000 to GBX 3,090 in a research note issued to investors on Wednesday, MarketBeat.com reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 18.48% from the company’s previous close.

A number of other research firms have also weighed in on BWY. Berenberg Bank restated a “hold” rating and set a GBX 2,900 price objective on shares of Bellway in a research note on Monday, September 8th. Royal Bank Of Canada raised their price objective on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the company a “sector perform” rating in a research note on Wednesday. Finally, Jefferies Financial Group reduced their price objective on shares of Bellway from GBX 3,626 to GBX 3,482 and set a “buy” rating for the company in a research note on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of GBX 3,193.

Bellway Trading Up 0.8%

LON:BWY opened at GBX 2,608 on Wednesday. The company has a 50-day moving average price of GBX 2,408.69 and a 200-day moving average price of GBX 2,547.04. Bellway has a 12 month low of GBX 2,134 and a 12 month high of GBX 3,370. The company has a current ratio of 5.26, a quick ratio of 0.50 and a debt-to-equity ratio of 3.75. The stock has a market cap of £3.09 billion, a price-to-earnings ratio of 2,122.05, a P/E/G ratio of 3.40 and a beta of 1.46.

Bellway (LON:BWY) last issued its quarterly earnings results on Tuesday, October 14th. The company reported GBX 176.70 earnings per share (EPS) for the quarter. Bellway had a net margin of 5.48% and a return on equity of 3.78%. Equities analysts predict that Bellway will post 159.0741715 EPS for the current year.

Bellway declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, October 14th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors 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.