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Braemar Shipping Services ( (GB:BMS) ) has provided an update.
Braemar Plc announced the purchase of 8,000 ordinary shares as part of its Share Buyback Programme, with the shares bought at a consistent price of 253 pence each on the London Stock Exchange. The company intends to cancel these shares, reducing the total number of shares in issue to 32,251,986, which may affect shareholder calculations under the Financial Conduct Authority’s rules. This move is part of Braemar’s strategy to manage its share capital and potentially enhance shareholder value.
The most recent analyst rating on (GB:BMS) stock is a Buy with a £410.00 price target. To see the full list of analyst forecasts on Braemar Shipping Services stock, see the GB:BMS Stock Forecast page.
Spark’s Take on GB:BMS Stock
According to Spark, TipRanks’ AI Analyst, GB:BMS is a Outperform.
Braemar Shipping Services demonstrates strong financial performance and strategic corporate actions, such as share buybacks and geographic expansion, which enhance shareholder value. While technical indicators show bullish momentum, potential overvaluation and increasing liabilities require cautious optimism.
To see Spark’s full report on GB:BMS stock, click here.
More about Braemar Shipping Services
Braemar Plc is a leading provider of expert investment, chartering, and risk management advice to the shipping and energy markets. The company helps clients secure sustainable returns and mitigate risks in the volatile shipping industry through a collaborative culture and tailored teams of experienced brokers and specialist professionals. Braemar has been listed on the London Stock Exchange since November 1997 and trades under the symbol BMS.
Average Trading Volume: 93,370
Technical Sentiment Signal: Strong Buy
Current Market Cap: £77.61M
Learn more about BMS stock on TipRanks’ Stock Analysis page.