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Balfour Beatty ( (GB:BBY) ) has shared an update.
Balfour Beatty announced the purchase of 85,000 of its ordinary shares as part of its ongoing share buyback program. The shares will be held in treasury, reducing the number of shares in issue to 503,607,530. This move is part of a broader strategy to manage the company’s capital structure and potentially enhance shareholder value. The repurchased shares, which have no voting rights, are the only shares held in treasury by the group, affecting the total number of voting rights in the company.
The most recent analyst rating on (GB:BBY) stock is a Buy with a £5.80 price target. To see the full list of analyst forecasts on Balfour Beatty stock, see the GB:BBY Stock Forecast page.
Spark’s Take on GB:BBY Stock
According to Spark, TipRanks’ AI Analyst, GB:BBY is a Outperform.
Balfour Beatty scores well due to strong financial performance and technical indicators, suggesting positive market sentiment. The earnings call reinforces this with optimistic guidance and strategic initiatives. Valuation is reasonable, offering a balanced risk-return profile.
To see Spark’s full report on GB:BBY stock, click here.
More about Balfour Beatty
Balfour Beatty is a leading international infrastructure group with over 27,000 employees. The company is involved in financing, developing, building, maintaining, and operating complex and critical infrastructure projects that support national economies. Balfour Beatty has a history of creating iconic buildings and infrastructure worldwide, including projects like Hinkley Point C in the UK, the Lyric Theatre in Hong Kong, and the Automated People Mover at Los Angeles International Airport.
Average Trading Volume: 1,198,653
Technical Sentiment Signal: Buy
Current Market Cap: £2.51B
See more insights into BBY stock on TipRanks’ Stock Analysis page.