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Costain ( (GB:COST) ) has provided an announcement.
Costain Group PLC has announced the purchase and cancellation of 166,244 ordinary shares as part of its ongoing share buyback program. This transaction, executed through Panmure Liberum, is part of a larger initiative that has seen the company cancel a total of 4,705,012 shares, reducing the total number of shares in issue to 268,293,463. The buyback program is designed to optimize the company’s capital structure, potentially increasing shareholder value and demonstrating confidence in the company’s future performance.
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 receives a solid overall score, driven primarily by its robust financial performance and strategic corporate actions. While technical indicators show bullish momentum, caution is advised due to overbought signals. The stock’s valuation appears fair, complemented by positive corporate events such as share buybacks and strategic investments, enhancing its attractiveness.
To see Spark’s full report on GB:COST stock, click here.
More about Costain
Costain Group PLC operates in the infrastructure sector, providing smart infrastructure solutions across the UK. The company focuses on delivering integrated services in the areas of transportation, energy, water, and defense, aiming to improve the nation’s infrastructure through innovation and technology.
Average Trading Volume: 1,316,340
Technical Sentiment Signal: Buy
Current Market Cap: £437.9M
See more data about COST stock on TipRanks’ Stock Analysis page.