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Prices & Quotes - UK Markets - Bellway (BWY)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 3,329.00p
Change Today:
-23.00p
Market Cap:
4,107.64m
Sector:
Household Goods & Home Construction

Berenberg hikes target price on Bellway

By Iain Gilbert

Date: Wednesday 05 May 2021

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg raised their target price on construction firm Bellway from 3,240.0p to 4,180.0p on Wednesday, stating the group's record land buying showed "fresh confidence".
Berenberg said so far in 2021, Bellway had been "one of the best performing housebuilders", up 22% versus the sector and, as a result, the share price had closed the discount to its historic average multiple of 1.3x book value.

Despite this, the German bank still thinks that upside to forecasts remain in the near-term and, longer-term, said it was "confident" that Bellway will continue to be "managed well" and can increase volumes towards its roughly 4,000 capacity while delivering "attractive returns" for shareholders.

Berenberg, which stood by its 'buy' rating on the stock, noted that Bellway was the only volume housebuilder with an unbroken dividend track record and that it had grown tangible book value per share by 159% over the last decade.

The analysts also highlighted that for the last several years, Bellway had maintained its landbank at four years, the lower end of its guided range of 4-5 years. Berenberg stated that management had indicated that it wishes to increase it closer to five years and, in the first half, it contracted to buy a record 8,848 plots and hopes to complete 16,000 deals in the year.

"Purchases will not only make up for the shortfall from last year, but also set up Bellway for the next phase of growth - particularly beyond the end of Help to Buy in 2023," concluded Berenberg.

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Bellway Market Data

Currency UK Pounds
Price 3,329.00p
Change Today -23.00p
52 Week High 3,712.00p
52 Week Low 2,060.00p
Volume 250,553
Shares Issued 123.39m
Market Cap 4,107.64m

Performance Indicators

Compare performance with the sector and the market.

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Value
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Price Trend
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Income
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Growth
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Price Chg 6m
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P/E
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PEG
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Dividend Yield
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EPS Growth
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Operating Margin
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What The Brokers Say

Strong Buy 11
Buy 1
Neutral 5
Sell 0
Strong Sell 0
Total 17
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Bellway Dividends

  Latest Previous
  Interim Final
Ex-Div 20-May-21 26-Nov-20
Paid 01-Jul-21 08-Jan-21
Amount 35.00p 50.00p

Trades for 24-Jun-2021

Time Volume / Share Price
16:35 105,777 @ 3,329.00p
16:29 24 @ 3,335.00p
16:29 1 @ 3,334.00p
16:29 1 @ 3,334.00p
16:29 2 @ 3,333.00p

Bellway Key Personnel

Chair Paul Hampden Smith
CEO Jason Honeyman