British American Tobacco Executes Share Buyback

British American Tobacco ( (GB:BATS) ) just unveiled an announcement.

British American Tobacco announced the repurchase of 123,502 of its ordinary shares as part of its ongoing buyback program. The shares, purchased from Merrill Lynch International, will be canceled, reducing the total number of shares in issue and potentially increasing shareholder value. This move is part of the company’s strategy to optimize its capital structure and return value to shareholders.

The most recent analyst rating on (GB:BATS) stock is a Hold with a £30.00 price target. To see the full list of analyst forecasts on British American Tobacco stock, see the GB:BATS Stock Forecast page.

Spark’s Take on GB:BATS Stock

According to Spark, TipRanks’ AI Analyst, GB:BATS is a Outperform.

British American Tobacco’s overall stock score is driven by solid technical momentum and robust corporate actions, including share buybacks and strategic financial decisions. Despite financial performance concerns related to earnings volatility and valuation pressures from a high P/E ratio, the company’s strong dividend yield and strategic initiatives provide a balanced outlook.

To see Spark’s full report on GB:BATS stock, click here.

More about British American Tobacco

British American Tobacco p.l.c. is a leading company in the tobacco industry, primarily engaged in the production and sale of cigarettes and other nicotine products. The company has a significant market presence globally and focuses on delivering high-quality tobacco products to its consumers.

Average Trading Volume: 6,201,913

Technical Sentiment Signal: Buy

Current Market Cap: £74.28B

See more data about BATS stock on TipRanks’ Stock Analysis page.