Claim 50% Off TipRanks Premium and Invest with Confidence
- Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potential
Costain ( (GB:COST) ) has provided an announcement.
Costain Group PLC, a leading UK-based infrastructure solutions company, announced the purchase and cancellation of 169,780 of its own ordinary shares as part of its ongoing share buyback programme. This transaction, conducted through Panmure Liberum on the London Stock Exchange, is part of a larger initiative that has seen the company buy back a total of 5,316,814 shares. The move is expected to reduce the number of shares in circulation, potentially increasing the value of remaining shares and reflecting the company’s commitment to returning value to shareholders.
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 Neutral.
Costain’s overall stock score is driven by its stable financial performance and strong technical indicators. The company’s strategic share buybacks and UBS’s increased stake further bolster confidence. However, modest margins and overbought technical signals suggest cautious optimism.
To see Spark’s full report on GB:COST stock, click here.
More about Costain
Average Trading Volume: 1,323,801
Technical Sentiment Signal: Buy
Current Market Cap: £444.1M
For an in-depth examination of COST stock, go to TipRanks’ Overview page.