Balfour Beatty (LON:BBY) Hits New 52-Week High - Here's Why

Key Points

• Balfour Beatty shares hit a new 52-week high at GBX 817.50 (last traded GBX 817.37) on volume of about 1.01 million shares, up from the prior close of GBX 782.50.
• Analyst sentiment strengthened after Berenberg raised its target from GBX 800 to GBX 870; the stock carries a consensus Buy rating with an average target of GBX 792.50.
• Recent fundamentals: the company reported quarterly EPS of GBX 47.60, a market cap of ~£3.95 billion, PE of 15.74 and ROE of 23.73%, and the board authorized a share buyback program (article notes it permits buyback of "0 outstanding shares").

Balfour Beatty plc (LON:BBY - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as GBX 817.50 and last traded at GBX 817.37, with a volume of 1014168 shares. The stock had previously closed at GBX 782.50.

Analysts Set New Price Targets

Separately, Berenberg Bank upped their target price on shares of Balfour Beatty from GBX 800 to GBX 870 and gave the stock a "buy" rating in a research note on Thursday, March 12th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of GBX 792.50.

Balfour Beatty Price Performance

The stock's 50 day moving average is GBX 751.47 and its two-hundred day moving average is GBX 708.58. The company has a debt-to-equity ratio of 89.50, a current ratio of 1.02 and a quick ratio of 0.84. The stock has a market capitalization of £3.95 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 3.75 and a beta of 0.59.

Balfour Beatty (LON:BBY - Get Free Report) last released its earnings results on Wednesday, March 11th. The company reported GBX 47.60 earnings per share for the quarter. Balfour Beatty had a net margin of 2.77% and a return on equity of 23.73%. As a group, sell-side analysts forecast that Balfour Beatty plc will post 43.3100698 earnings per share for the current fiscal year.

Balfour Beatty announced that its board has authorized a share buyback program on Wednesday, March 11th 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 usually a sign that the company's board believes its shares are undervalued.

Balfour Beatty Company Profile

Balfour Beatty is a leading international infrastructure group. With 26,000 employees across the UK, US and Hong Kong, we're leading the transformation of our industry to meet the challenges of the future. Trusted by our customers to deliver sustainable solutions and strengthen communities, we finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities. Collaborating with governments, our customers and partners, we deliver powerful new solutions, shape thinking, create skylines and inspire a new generation of talent to be the change-makers of tomorrow.

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