Centrica Expands Share Buyback Program with Latest Purchase

The latest update is out from Centrica ( (GB:CNA) ).

Centrica plc announced the purchase of 7,535,656 of its own ordinary shares at a price of 160.72 pence per share, as part of its extended 2024-25 buyback program. This transaction, executed through Merrill Lynch International, increases the total number of shares held in treasury to 507,727,029, reflecting Centrica’s ongoing efforts to manage its capital structure and enhance shareholder value.

The most recent analyst rating on (GB:CNA) stock is a Buy with a £150.00 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 Outperform.

Centrica’s strong valuation and positive technical indicators lead to a favorable stock score. The strategic share buyback program further enhances shareholder value. However, historical financial volatility necessitates a cautious approach despite recent improvements.

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

More about Centrica

Centrica plc is a leading energy and services company listed on the London Stock Exchange. The company primarily operates in the energy sector, focusing on the supply of electricity and gas, as well as providing energy-related services to its customers.

Average Trading Volume: 29,826,600

Technical Sentiment Signal: Buy

Current Market Cap: £7.78B

Find detailed analytics on CNA stock on TipRanks’ Stock Analysis page.