Bellway (LON:BWY) Stock Price Down 8% - Here's What Happened

Key Points

• Bellway shares fell about 8% intraday, trading as low as GBX 1,940 and last at GBX 1,967 on Tuesday, with volume around 854,762 shares (about 85% below the average daily volume).
• Analysts are mixed but mildly positive: three Buy and three Hold ratings give a consensus of "Moderate Buy" with a consensus target price of GBX 3,237.50, and recent notable targets from Citigroup and JPMorgan were raised while Goldman Sachs started coverage at GBX 2,844 (neutral).
• Key fundamentals: market cap £2.27 billion and P/E ~14.8, a high debt-to-equity ratio of 6.20, and last reported quarterly EPS of GBX 91.20 with a net margin of 5.66%.

Bellway p.l.c. (LON:BWY - Get Free Report) dropped 8% during trading on Tuesday . The stock traded as low as GBX 1,940 and last traded at GBX 1,967. Approximately 854,762 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 5,538,499 shares. The stock had previously closed at GBX 2,138.

Analyst Ratings Changes

A number of equities analysts recently weighed in on BWY shares. Citigroup boosted their target price on shares of Bellway from GBX 3,090 to GBX 3,100 and gave the stock a "buy" rating in a report on Monday, December 8th. The Goldman Sachs Group began coverage on shares of Bellway in a research note on Monday, November 24th. They issued a "neutral" rating and a GBX 2,844 price target for the company. JPMorgan Chase & Co. lifted their price objective on shares of Bellway from GBX 3,280 to GBX 3,820 and gave the company an "overweight" rating in a research report on Thursday, December 4th. Finally, Jefferies Financial Group lowered their price objective on shares of Bellway from GBX 3,476 to GBX 3,461 and set a "buy" rating on the stock in a research note on Monday, January 19th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of GBX 3,237.50.

Bellway Stock Down 8.9%

The company has a debt-to-equity ratio of 6.20, a quick ratio of 0.50 and a current ratio of 4.77. The firm has a fifty day simple moving average of GBX 2,616.01 and a 200-day simple moving average of GBX 2,609.05. The firm has a market cap of £2.27 billion, a price-to-earnings ratio of 14.78, a P/E/G ratio of 3.40 and a beta of 1.22.

Bellway (LON:BWY - Get Free Report) last released its quarterly earnings data on Tuesday, March 24th. The company reported GBX 91.20 EPS for the quarter. Bellway had a net margin of 5.66% and a return on equity of 4.45%. As a group, sell-side analysts expect that Bellway p.l.c. will post 159.0741715 EPS for the current year.

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. The company was founded in 1946 and is headquartered in Newcastle upon Tyne, the United Kingdom.

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