Balfour Beatty (LON:BBY) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• Balfour Beatty's shares crossed above their 200‑day moving average, trading as high as GBX 767 and last at GBX 746.50 on volume of 877,341 shares vs a 200‑day MA of GBX 700.45.
• Analysts are bullish: Berenberg raised its price target to GBX 870 and Deutsche Bank to GBX 715 with buy ratings, and MarketBeat shows a consensus "Buy" with an average target of GBX 792.50.
• Company fundamentals and corporate action: market cap £3.62bn, P/E 21.15 and quarterly EPS of GBX 47.60 with ROE 23.73%, and the board announced a share repurchase program (report lists an authorization of 0 shares, so details are unclear).

Balfour Beatty plc (LON:BBY - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 700.45 and traded as high as GBX 767. Balfour Beatty shares last traded at GBX 746.50, with a volume of 877,341 shares changing hands.

Analyst Upgrades and Downgrades

BBY has been the subject of a number of research analyst reports. Berenberg Bank increased their price target on shares of Balfour Beatty from GBX 800 to GBX 870 and gave the stock a "buy" rating in a research report on Thursday, March 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Balfour Beatty from GBX 650 to GBX 715 and gave the company a "buy" rating in a research report on Thursday, December 4th. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of GBX 792.50.

Balfour Beatty Trading Down 1.8%

The company has a market cap of £3.62 billion, a price-to-earnings ratio of 21.15, a price-to-earnings-growth ratio of 3.75 and a beta of 0.64. The company's 50 day moving average price is GBX 744.54 and its 200 day moving average price is GBX 700.45. The company has a debt-to-equity ratio of 89.50, a quick ratio of 0.84 and a current ratio of 1.02.

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

Balfour Beatty announced that its Board of Directors has authorized a share repurchase program on Wednesday, March 11th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

About Balfour Beatty

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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