Bellway's Outlook Likely to Please Investors -- Market Talk

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Bellway's Outlook Likely to Please Investors -- Market Talk

Dow Jones2024-10-15

0914 GMT - With Bellway's revenue for FY 2024 already known and its margins tightly guided for previously, the focus for investors is the housebuilder's outlook, Jefferies analysts say in a note. Although its performance in recent weeks has been robust, it hasn't been spectacular, with questions raised again over customer hesitancy ahead of the U.K.'s budget, the analysts say. "But with FY 2025 guidance suggesting consensus to be flat in the company's view, to slightly up--our view--and talk of an over 20% increase in volumes targeted on a two-year view giving similar trajectory for FY 2026, we believe investors will start to feel comfortable to discuss the upside case for earnings," Jefferies says. Shares are up 7% at 3,266 pence. (anthony.orunagoriainoff@dowjones.com)

(END) Dow Jones Newswires

October 15, 2024 05:14 ET (09:14 GMT)

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