UK Stocks: Bellway’s Revenue Beat Signals Positive Shift in Housing Market
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 09 2024
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Source: TipRanks
Bellway PLC Performance: Bellway PLC reported a revenue of £2.35 billion for Fiscal 2024, exceeding analyst expectations, and noted an improvement in consumer confidence due to lower mortgage rates and stable house prices. The company completed 7,654 homes and anticipates growth in 2025 supported by the new Labour government's housing plans.
Market Outlook and Stock Rating: The company's forward order book increased significantly, indicating potential volume growth, while its operating margin is projected to decline. Bellway shares have received a Moderate Buy rating with a forecasted price increase of 14.17% from current levels.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
