Bellway (LON:BWY) Given Outperform Rating at Royal Bank of Canada

Royal Bank of Canada reiterated their outperform rating on shares of Bellway (LON:BWY) in a report released on Tuesday morning, Marketbeat.com reports. Royal Bank of Canada currently has a GBX 3,650 ($46.38) target price on the stock.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. upped their price objective on Bellway from GBX 2,780 ($35.32) to GBX 2,790 ($35.45) and gave the company a neutral rating in a research note on Monday. Deutsche Bank Aktiengesellschaft restated a buy rating and set a GBX 3,013 ($38.28) price target on shares of Bellway in a research report on Monday, June 10th.

Bellway Stock Performance

BWY stock opened at GBX 2,588 ($32.88) on Tuesday. The company has a quick ratio of 0.50, a current ratio of 5.78 and a debt-to-equity ratio of 3.78. The firm has a market cap of £3.08 billion, a PE ratio of 1,437.78, a P/E/G ratio of 60.49 and a beta of 1.43. The business has a 50 day moving average of GBX 2,641.77 and a 200-day moving average of GBX 2,651.41. Bellway has a 12-month low of GBX 1,903 ($24.18) and a 12-month high of GBX 2,898 ($36.82).

Bellway Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, July 1st. Stockholders of record on Thursday, May 23rd will be paid a dividend of GBX 16 ($0.20) per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a dividend yield of 0.61%. Bellway’s payout ratio is 6,166.67%.

Bellway Company Profile

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.