Bellway stock trades at EUR 26.70 as analysts target GBp 2,522.33

Published on 09/29/2026 at 13:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Bellway stock delivered 9,695 home completions in fiscal 2026, up 10.8 percent. Housing revenue reached GBP 3.14 billion as the order book contracted.

Baustelle mit Ziegelhäusern, Gerüst und Kran auf englischer Wohnsiedlung — Bellway p.l.c. (GB0000904986) baut neue Wohnhäuser, die Baustelle zeigt Gerüste, Kran und Baubranche, Illustration mit AI erstellt.

Bellway p.l.c. stock (ISIN GB0000904986) was trading at EUR 26.70 at Lang & Schwarz on September 29, 2026 at 1:20 p.m. CEST, down 0.74 percent versus the prior close of EUR 26.90. The latest annual figures show higher building volumes, but a softer forward order book leaves demand as the key counterweight.

Volume rises as margins soften

According to Halifax on September 29, 2026, Bellway completed 9,695 homes in the year ended July 31, 2026, up 10.8 percent from the prior year and above its guided range of 9,300 to 9,500 homes. Housing revenue rose 13 percent to GBP 3.14 billion, while expected operating profit stood at GBP 320 million to GBP 330 million.

The revenue gain came with a margin tradeoff. Adjusted operating margin is expected to fall to 10 percent from 10.9 percent, while adjusted operating cash flow improved to more than GBP 850 million from GBP 638.9 million in fiscal 2025.

Order book points to demand risk

Bellway's forward order book fell to 4,206 homes at the end of July 2026 from 5,307 homes a year earlier, according to Halifax. The same report said net cash rose to GBP 157.7 million from GBP 41.8 million, giving Bellway more financial capacity while mortgage rates and customer demand remain important variables.

Capital returns provide a second support. A September 1, 2026 regulatory update carried by TradingView said Bellway had completed a GBP 75 million tranche and launched a further GBP 50 million buyback for fiscal 2027 shareholder returns. The new tranche is expected to run through April 30, 2027.

Analysts keep a higher target

MarketBeat reported on September 20, 2026 that nine analysts held a Moderate Buy consensus, with six Buy ratings and three Hold ratings. The average 12-month target was GBp 2,522.33, with recent targets ranging from GBp 2,380 to GBp 2,917.

That view is not uniform. MarketBeat also reported that JPMorgan cut its target from GBp 3,480 to GBp 2,410, while Jefferies lowered its target from GBp 2,394 to GBp 2,380 and retained a Buy rating.

Euro quote and London context

Bellway stock was trading at EUR 26.70 at Lang & Schwarz on September 29, 2026 at 1:20 p.m. CEST, down 0.74 percent versus the Lang & Schwarz prior close of EUR 26.90. On the London Stock Exchange, BWY.L was last at GBp 2,262 on September 29, 2026 at 12:20 p.m. London time, against a 52-week range of GBp 1,715 to GBp 2,998.