Bellway (LON:BWY) to Buyback 0 Outstanding Shares

Key Points

• Bellway has approved a share repurchase plan to buy back 0 shares, indicating a belief that its stock is undervalued.
• As of October 14th, Bellway reported earnings of GBX 176.70 per share with a net margin of 5.48%.
• Equity analysts have mixed ratings on Bellway, with Citigroup lowering their price target from GBX 3,100 to GBX 3,000, while maintaining a "buy" rating.

Bellway (LON:BWY - Get Free Report) declared that its Board of Directors has approved a share repurchase plan on Tuesday, October 14th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company's leadership believes its shares are undervalued.

Bellway Stock Performance

LON:BWY traded up GBX 126 on Tuesday, hitting GBX 2,604. The stock had a trading volume of 44,412,473 shares, compared to its average volume of 1,164,534. Bellway has a 52-week low of GBX 2,134 and a 52-week high of GBX 3,384. The company has a quick ratio of 0.50, a current ratio of 5.26 and a debt-to-equity ratio of 3.75. The stock has a market cap of £3.09 billion, a price-to-earnings ratio of 2,118.80, a price-to-earnings-growth ratio of 3.40 and a beta of 1.46. The business's 50-day simple moving average is GBX 2,404.17 and its two-hundred day simple moving average is GBX 2,545.15.

Bellway (LON:BWY - Get Free Report) last posted its quarterly earnings data on Tuesday, October 14th. The company reported GBX 176.70 earnings per share for the quarter. Bellway had a return on equity of 3.78% and a net margin of 5.48%. As a group, research analysts predict that Bellway will post 159.0741715 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BWY shares. Citigroup reduced their price target on Bellway from GBX 3,100 to GBX 3,000 and set a "buy" rating for the company in a report on Wednesday, August 13th. 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 dropped their price objective on 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. Finally, Royal Bank Of Canada cut Bellway to a "sector perform" rating and dropped their target price for the stock from GBX 3,600 to GBX 3,150 in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of GBX 3,133.

About Bellway

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.

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