Bellway (LON:BWY) Receives "Overweight" Rating from JPMorgan Chase & Co.

Key Points

• Bellway's stock has been reissued an "overweight" rating by JPMorgan Chase & Co., with the average target price set at GBX 3,193.
• The company recently reported earnings of GBX 176.70 per share, with a net margin of 5.48% and a return on equity of 3.78%.
• Bellway has initiated a share repurchase program, indicating management's belief that its shares are undervalued.

Bellway (LON:BWY - Get Free Report)'s stock had its "overweight" rating reissued by equities research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday,Digital Look reports.

BWY has been the subject of several other research reports. Berenberg Bank reaffirmed a "hold" rating and set a GBX 2,900 price objective on shares of Bellway in a research report on Monday, September 8th. Jefferies Financial Group cut 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 report on Wednesday, October 8th. Royal Bank Of Canada upped their price objective on shares of Bellway from GBX 3,150 to GBX 3,300 and gave the stock a "sector perform" rating in a research report on Wednesday. Finally, Citigroup increased their target price on shares of Bellway from GBX 3,000 to GBX 3,090 and gave the stock a "buy" rating in a report on Wednesday. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Bellway presently has an average rating of "Moderate Buy" and an average target price of GBX 3,193.

Bellway Trading Down 2.2%

Shares of Bellway stock opened at GBX 2,550 on Friday. The firm has a 50-day moving average of GBX 2,408.69 and a 200-day moving average of GBX 2,547.04. The stock has a market cap of £3.02 billion, a PE ratio of 2,074.86, a PEG ratio of 3.40 and a beta of 1.46. Bellway has a 52-week low of GBX 2,134 and a 52-week high of GBX 3,290. The company has a debt-to-equity ratio of 3.75, a quick ratio of 0.50 and a current ratio of 5.26.

Bellway (LON:BWY - Get Free Report) last announced its 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%. As a group, sell-side analysts forecast that Bellway will post 159.0741715 EPS for the current year.

Bellway declared that its board has approved a share repurchase program on Tuesday, October 14th that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company's management 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.