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Balfour Beatty ( (GB:BBY) ) just unveiled an announcement.
Balfour Beatty has announced the purchase of 88,788 of its ordinary shares as part of its ongoing share buyback program. The shares, acquired at a volume-weighted average price of 522.3160 pence, will be held in treasury, reducing the total number of voting shares. This move is part of a broader strategy to manage the company’s capital structure and could impact shareholder interests by altering the number of voting shares available.
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’s strong financial performance and positive technical indicators are the most significant factors supporting its stock score. The company’s consistent revenue growth, robust cash flow, and strategic initiatives like share buybacks and major contract wins further enhance its market position. Despite some operational challenges and legal issues, the overall sentiment remains optimistic, driven by strategic growth and financial strength.
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, specializing in financing, developing, building, maintaining, and operating complex infrastructure projects. The company is involved in significant projects worldwide, including the Hinkley Point C nuclear power station in the UK, the Lyric Theatre in Hong Kong, and the Automated People Mover at Los Angeles International Airport.
Average Trading Volume: 956,470
Technical Sentiment Signal: Buy
Current Market Cap: £2.59B
Find detailed analytics on BBY stock on TipRanks’ Stock Analysis page.