Bellway (BWY)

Sector:

Household Goods

Index:

FTSE 250

2,077.00p
   
  • Change Today:
    -79.00p
  • 52 Week High: 4,310.00
  • 52 Week Low: 1,879.00
  • Currency: UK Pounds
  • Shares Issued: 123.34m
  • Volume: 772,174
  • Market Cap: £2,561.73m
  • RiskGrade: 349

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Berenberg lowers target on Bellway, but judges valuation 'undemanding'

By Alexander Bueso

Date: Friday 18 Oct 2019

LONDON (ShareCast) - (Sharecast News) - Analysts at Berenberg reiterated their recommendation to 'buy' shares of Bellway, pointing to the company's "stellar" long-term track record and undemanding valuation to back up their case.
In a research note sent to clients, they said: "The underlying fundamentals for the UK housing market remain stable. Employment is high, wages are growing, and mortgage capacity and supply are increasing.

"However, the uncertain political environment (notwithstanding the recent developments) is weighing on sentiment," the analysts also said.

Cost pressures and "more limited" house price inflation meant that the homebuilder's numbers would come under pressure in the near-term, they added.

However, pointing to the firm's history, they believed that the downside risk to their rebased forecasts for the company' margins was "limited", due to the "structural changes to the UK land market."

"At a 14% discount to the wider sector, the valuation remains undemanding, especially in the context of c10% pa growth in TNAV per share. We believe there is potential for a further re-rating should Brexit-related uncertainty lift."

Nevertheless, Berenberg lowered its target price for the shares from 3,790.0p to 3,560.0p.



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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Bellway Market Data

Currency UK Pounds
Share Price 2,077.00p
Change Today -79.00p
% Change -3.66 %
52 Week High 4,310.00
52 Week Low 1,879.00
Volume 772,174
Shares Issued 123.34m
Market Cap £2,561.73m
RiskGrade 349

Bellway Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
59.93% above the market average59.93% above the market average59.93% above the market average59.93% above the market average59.93% above the market average
38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average
Price Trend
25.59% below the market average25.59% below the market average25.59% below the market average25.59% below the market average25.59% below the market average
7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average7.69% above the sector average
Income
78.07% above the market average78.07% above the market average78.07% above the market average78.07% above the market average78.07% above the market average
30.43% above the sector average30.43% above the sector average30.43% above the sector average30.43% above the sector average30.43% above the sector average
Growth
4.08% above the market average4.08% above the market average4.08% above the market average4.08% above the market average4.08% above the market average
38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average38.46% above the sector average

What The Brokers Say

Strong Buy 11
Buy 2
Neutral 2
Sell 0
Strong Sell 0
Total 15
strong_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
  Final Interim
Ex-Div 28-Nov-19 23-May-19
Paid 08-Jan-20 04-Jul-19
Amount 100.00p 50.40p

Trades for 01-Apr-2020

Time Volume / Share Price
16:57 14,925 @ 2,054.06p
16:35 181,873 @ 2,077.00p
16:29 10,000 @ 2,089.00p
16:29 1 @ 2,090.00p
16:29 5 @ 2,089.00p

Bellway Key Personnel

Chair Paul Hampden Smith
CEO Jason Honeyman

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