Centrica Expands Share Buyback Program with New Purchase

Centrica ( (GB:CNA) ) just unveiled an announcement.

Centrica plc announced the purchase of over 3.2 million ordinary shares as part of its extended 2024-25 buyback program. This strategic move, executed through Merrill Lynch International, reflects Centrica’s ongoing efforts to manage its capital structure and enhance shareholder value. The company now holds a significant number of shares in treasury, which could impact its market positioning and shareholder returns.

The most recent analyst rating on (GB:CNA) stock is a Buy with a £175.00 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 technical indicators and attractive valuation are the primary drivers of its high score. The company’s aggressive share buyback program further boosts confidence in its market position. However, historical financial volatility necessitates some caution.

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

More about Centrica

Centrica plc operates in the energy sector, primarily focusing on the supply of electricity and gas. It is listed on the London Stock Exchange and is known for its buyback programs and strategic financial management.

Average Trading Volume: 29,800,495

Technical Sentiment Signal: Buy

Current Market Cap: £7.96B

For detailed information about CNA stock, go to TipRanks’ Stock Analysis page.