Centrica Expands Share Buyback Programme with Latest Purchase

Centrica ( (GB:CNA) ) has provided an update.

Centrica plc has announced the purchase of 2,628,754 of its own ordinary shares at a price of 162.88 pence per share, as part of its extended 2024-25 buyback programme. This move is in line with the company’s strategy to manage its capital structure and enhance shareholder value, reflecting a significant investment in its own equity, which could impact its market positioning and shareholder confidence.

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 technical indicators and attractive valuation are key strengths, supported by positive corporate actions like share buybacks, indicating market confidence. However, historical financial volatility tempers the overall score, necessitating a balanced view of potential risks and opportunities.

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

More about Centrica

Centrica plc is a company listed on the London Stock Exchange, primarily operating in the energy sector. It is involved in the supply of electricity and gas, as well as other energy-related services, with a focus on the UK market.

Average Trading Volume: 29,468,588

Technical Sentiment Signal: Buy

Current Market Cap: £7.63B

For an in-depth examination of CNA stock, go to TipRanks’ Stock Analysis page.