Bellway (LON:BWY) Stock Price Down 8% – What’s Next?

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

Analysts Set New Price Targets

Several research firms have recently commented on BWY. Jefferies Financial Group decreased their target price on Bellway from GBX 3,476 to GBX 3,461 and set a “buy” rating on the stock in a research report on Monday, January 19th. Citigroup boosted their price target on Bellway from GBX 3,090 to GBX 3,100 and gave the company a “buy” rating in a research note on Monday, December 8th. JPMorgan Chase & Co. upped their price objective on Bellway from GBX 3,280 to GBX 3,820 and gave the company an “overweight” rating in a report on Thursday, December 4th. Finally, The Goldman Sachs Group started coverage on Bellway in a research report on Monday, November 24th. They set a “neutral” rating and a GBX 2,844 price objective on the stock. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Bellway has a consensus rating of “Moderate Buy” and a consensus target price of GBX 3,237.50.

Bellway Stock Down 8.9%

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

Bellway (LON:BWY) last announced its earnings results 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, research analysts forecast that Bellway p.l.c. will post 159.0741715 earnings per share for the current fiscal year.

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.