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Costain ( (GB:COST) ) has issued an announcement.
Costain Group PLC has announced the completion of the first tranche of its share buyback program, purchasing 63,883 ordinary shares on the London Stock Exchange. The company has now bought back a total of 3,348,945 shares for cancellation, reducing its total number of shares in issue to 269,649,530. This move is part of a strategic effort to enhance shareholder value and optimize the company’s capital structure.
The most recent analyst rating on (GB:COST) stock is a Hold with a £1.05 price target. To see the full list of analyst forecasts on Costain stock, see the GB:COST Stock Forecast page.
Spark’s Take on GB:COST Stock
According to Spark, TipRanks’ AI Analyst, GB:COST is a Outperform.
Costain’s overall stock score reflects strong technical momentum and a stable financial foundation. The share buyback program further indicates management’s confidence in the company’s prospects, though modest margins and a need for improved cash flow efficiency present areas for enhancement.
To see Spark’s full report on GB:COST stock, click here.
More about Costain
Average Trading Volume: 1,282,013
Technical Sentiment Signal: Buy
Current Market Cap: £426.1M
Learn more about COST stock on TipRanks’ Stock Analysis page.