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Balfour Beatty ( (GB:BBY) ) just unveiled an announcement.
Balfour Beatty announced a share buyback transaction, purchasing 95,402 ordinary shares at an average price of 534.1758 pence per share. The repurchased shares will be held in treasury, reducing the total number of voting shares to 501,534,223. This move is part of a broader buyback program, which has seen the company repurchase over 15 million shares to date. The transaction is expected to impact the company’s share capital structure and provide flexibility for future financial strategies.
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, characterized by revenue growth and robust cash flow, is a key driver of its stock score. The company’s positive earnings call further supports the optimistic outlook. Technical analysis indicates strong momentum, although caution is advised due to near-overbought conditions. The stock’s valuation is reasonable, with a supportive dividend yield. Corporate events like share buybacks enhance shareholder value, contributing positively to the overall score.
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 infrastructure projects that support national economies and local communities. Notable projects include 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: 960,268
Technical Sentiment Signal: Buy
Current Market Cap: £2.66B
Learn more about BBY stock on TipRanks’ Stock Analysis page.