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Centrica ( (GB:CNA) ) has provided an announcement.
Centrica plc announced the purchase of 2,230,475 of its own ordinary shares at an average price of 168.6131 pence per share as part of its ongoing buyback program. This transaction, executed through J.P. Morgan Securities, is part of a larger effort that has seen the company repurchase over 111 million shares since September, reflecting a strategic move to consolidate its share capital and potentially enhance shareholder value.
The most recent analyst rating on (GB:CNA) stock is a Hold with a £182.00 price target. To see the full list of analyst forecasts on Centrica stock, see the GB:CNA Stock Forecast page.
Spark’s Take on GB:CNA Stock
According to Spark, TipRanks’ AI Analyst, GB:CNA is a Neutral.
Centrica’s overall stock score is driven by strong corporate events, particularly the share buyback program and strategic acquisitions, which enhance shareholder value. However, the score is tempered by a challenging valuation due to a negative P/E ratio and mixed technical indicators.
To see Spark’s full report on GB:CNA stock, click here.
More about Centrica
Centrica plc is a British multinational energy and services company, primarily involved in the supply of electricity and gas to businesses and consumers in the UK and Ireland. The company also offers a range of energy-related services and solutions, focusing on enhancing energy efficiency and sustainability.
Average Trading Volume: 22,925,549
Technical Sentiment Signal: Buy
Current Market Cap: £7.71B
For a thorough assessment of CNA stock, go to TipRanks’ Stock Analysis page.