Bellway (LON:BWY) Share Price Crosses Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Bellway shares rose above their 200-day moving average, reaching GBX 2,158 versus the average of GBX 1,990.14, with trading volume of 800,413 shares.
• Analysts remain broadly positive: six rate Bellway a “Buy” and three rate it “Hold,” producing a “Moderate Buy” consensus and an average price target of GBX 2,527.89.
• Bellway reported quarterly EPS of GBX 187.80, while analysts expect full-year EPS of approximately GBX 159.07; the company has a £2.40 billion market capitalization and a 6.12% net margin.

Bellway p.l.c. (LON:BWY - Get Free Report) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of GBX 1,990.14 and traded as high as GBX 2,158. Bellway shares last traded at GBX 2,158, with a volume of 800,413 shares.

Wall Street Analyst Weigh In

BWY has been the topic of a number of recent analyst reports. Citigroup upped their price objective on Bellway from GBX 2,300 to GBX 2,500 and gave the stock a "buy" rating in a report on Wednesday, August 12th. Jefferies Financial Group restated a "buy" rating and set a GBX 2,380 target price on shares of Bellway in a research report on Wednesday, October 14th. Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating and set a GBX 2,917 price target on shares of Bellway in a research note on Wednesday, August 12th. Finally, Berenberg Bank reduced their price objective on shares of Bellway from GBX 2,550 to GBX 2,450 and set a "buy" rating for the company in a research note on Wednesday, October 14th. Six analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Bellway currently has an average rating of "Moderate Buy" and an average target price of GBX 2,527.89.

Bellway Stock Performance

The company has a market capitalization of £2.40 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 3.40 and a beta of 1.37. The company's 50 day simple moving average is GBX 2,092.39 and its 200-day simple moving average is GBX 1,990.14.

Bellway (LON:BWY - Get Free Report) last announced its quarterly earnings data on Tuesday, October 13th. The company reported GBX 187.80 EPS for the quarter. Bellway had a return on equity of 5.49% and a net margin of 6.12%. Sell-side analysts anticipate that Bellway p.l.c. will post 159.07 EPS for the current year.

Bellway announced that its Board of Directors has approved a stock repurchase plan on Tuesday, September 1st that authorizes the company to buy back 0 shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

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

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