Bellway (LON:BWY) Stock Price Passes Above Two Hundred Day Moving Average - What's Next?

Bellway p.l.c. (LON:BWY - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 2,818.80 ($36.60) and traded as high as GBX 3,150 ($40.90). Bellway shares last traded at GBX 3,128 ($40.61), with a volume of 235,081 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Berenberg Bank raised their target price on shares of Bellway from GBX 2,900 ($37.65) to GBX 3,200 ($41.55) and gave the company a "hold" rating in a report on Tuesday, October 15th. JPMorgan Chase & Co. reaffirmed a "neutral" rating on shares of Bellway in a research note on Friday, July 5th. Finally, Citigroup restated a "buy" rating and issued a GBX 3,368 ($43.73) target price on shares of Bellway in a report on Thursday, August 15th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of GBX 3,204.20 ($41.60).

Bellway Stock Performance

The business's 50 day simple moving average is GBX 3,110.34 and its 200 day simple moving average is GBX 2,818.80. The company has a current ratio of 5.78, a quick ratio of 0.50 and a debt-to-equity ratio of 3.78. The company has a market cap of £3.67 billion, a P/E ratio of 1,726.67, a PEG ratio of 3.40 and a beta of 1.46.

Bellway Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Thursday, November 28th will be issued a GBX 38 ($0.49) dividend. This represents a dividend yield of 1.15%. The ex-dividend date is Thursday, November 28th. This is a positive change from Bellway's previous dividend of $16.00. Bellway's dividend payout ratio (DPR) is 6,166.67%.

Insider Transactions at Bellway

In related news, insider Keith Adey sold 27,303 shares of Bellway stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of GBX 3,257 ($42.29), for a total transaction of £889,258.71 ($1,154,581.55). Corporate insiders own 3.73% of the company's stock.

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.