Royal Bank Of Canada Boosts Bellway (LON:BWY) Price Target to GBX 3,300

Bellway (LON:BWY) had its price objective hoisted by Royal Bank Of Canada from GBX 3,150 to GBX 3,300 in a research note issued on Wednesday, MarketBeat.com reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target would indicate a potential upside of 26.53% from the stock’s previous close.

BWY has been the topic of a number of other reports. Jefferies Financial Group reduced their price target on shares of Bellway from GBX 3,626 to GBX 3,482 and set a “buy” rating on the stock in a research report on Wednesday, October 8th. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 2,900 price objective on shares of Bellway in a research report on Monday, September 8th. Finally, Citigroup cut their price objective on shares of Bellway from GBX 3,100 to GBX 3,000 and set a “buy” rating on the stock in a research report on Wednesday, August 13th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,193.

Bellway Stock Performance

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

Bellway (LON:BWY) last announced its quarterly earnings data 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%. Sell-side analysts predict that Bellway will post 159.0741715 earnings per share for the current fiscal year.

Bellway declared that its board has authorized a stock repurchase program on Tuesday, October 14th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are often 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.