Balfour Beatty (LON:BBY) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Balfour Beatty plc (LON:BBY)’s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 444.57 ($5.72) and traded as high as GBX 460 ($5.92). Balfour Beatty shares last traded at GBX 452.60 ($5.83), with a volume of 1,193,398 shares changing hands.

Wall Street Analyst Weigh In

Separately, Berenberg Bank restated a “buy” rating and issued a GBX 510 ($6.57) price target on shares of Balfour Beatty in a report on Monday, March 17th.

Balfour Beatty Price Performance

The stock has a market capitalization of £2.35 billion, a P/E ratio of 10.76, a price-to-earnings-growth ratio of 3.75 and a beta of 0.81. The company’s 50-day simple moving average is GBX 454.37 and its 200-day simple moving average is GBX 444.89. The company has a debt-to-equity ratio of 79.85, a current ratio of 0.99 and a quick ratio of 0.84.

Balfour Beatty (LON:BBY) last released its quarterly earnings results on Wednesday, March 12th. The company reported GBX 43.60 ($0.56) earnings per share (EPS) for the quarter. Balfour Beatty had a return on equity of 19.46% and a net margin of 2.85%. As a group, sell-side analysts expect that Balfour Beatty plc will post 43.3100698 EPS for the current fiscal year.

Balfour Beatty Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, July 2nd. Shareholders of record on Thursday, May 15th will be paid a dividend of GBX 8.70 ($0.11) per share. This represents a yield of 1.92%. The ex-dividend date of this dividend is Thursday, May 15th. This is a positive change from Balfour Beatty’s previous dividend of $3.80. Balfour Beatty’s dividend payout ratio (DPR) is 28.02%.

Balfour Beatty announced that its Board of Directors has initiated a share repurchase program on Wednesday, March 12th that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

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.