Balfour Beatty plc (LON:BBY – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 762.40 and traded as high as GBX 859. Balfour Beatty shares last traded at GBX 847.50, with a volume of 113,054,594 shares.
Analysts Set New Price Targets
Several research firms have issued reports on BBY. Berenberg Bank increased their target price on shares of Balfour Beatty from GBX 800 to GBX 870 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 985 price target on shares of Balfour Beatty in a report on Monday, June 8th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 856.67.
Balfour Beatty Trading Up 0.7%
Balfour Beatty (LON:BBY – Get Free Report) last posted its quarterly earnings data on Thursday, June 18th. The company reported GBX 14.40 earnings per share for the quarter. Balfour Beatty had a net margin of 2.77% and a return on equity of 23.73%. The company had revenue of GBX 452.20 billion for the quarter. As a group, equities analysts expect that Balfour Beatty plc will post 43.3100698 earnings per share for the current fiscal year.
Balfour Beatty declared that its Board of Directors has approved a share buyback program on Wednesday, March 11th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
Insider Buying and Selling at Balfour Beatty
In other news, insider Philip Harrison sold 109,744 shares of Balfour Beatty stock in a transaction on Wednesday, April 8th. The shares were sold at an average price of GBX 799, for a total transaction of £876,854.56. Also, insider Philip Hoare sold 121,214 shares of the company’s stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of GBX 799, for a total transaction of £968,499.86. Company insiders own 1.22% of the company’s stock.
About Balfour Beatty
Balfour Beatty is a leading international infrastructure group. With 26,000 employees across the UK, US and Hong Kong, we’re leading the transformation of our industry to meet the challenges of the future.
Trusted by our customers to deliver sustainable solutions and strengthen communities, we finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.
Collaborating with governments, our customers and partners, we deliver powerful new solutions, shape thinking, create skylines and inspire a new generation of talent to be the change-makers of tomorrow.
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