FirstGroup Executes Share Buyback as Part of Capital Management Strategy

Firstgroup ( (GB:FGP) ) just unveiled an update.

FirstGroup plc has executed a share buyback transaction, purchasing 385,418 of its ordinary shares at a weighted average price of 223.97 pence per share. This move is part of the company’s ongoing share buyback programme, which aims to manage its capital structure effectively. Following this transaction, FirstGroup holds 166,109,932 shares in treasury, with a total of 584,585,083 shares in issue excluding treasury shares. This transaction may impact the company’s market positioning by potentially increasing shareholder value and optimizing its capital allocation strategy.

The most recent analyst rating on (GB:FGP) stock is a Buy with a £205.00 price target. To see the full list of analyst forecasts on Firstgroup stock, see the GB:FGP Stock Forecast page.

Spark’s Take on GB:FGP Stock

According to Spark, TipRanks’ AI Analyst, GB:FGP is a Neutral.

FirstGroup’s overall stock score reflects mixed financial performance with challenges in profitability and leverage, countered by positive cash flows. The stock’s technical indicators show bearish momentum, but its attractive valuation metrics, including a low P/E ratio and decent dividend yield, provide a buffer. Recent corporate actions, such as the share buyback and strategic acquisitions, further enhance the outlook, despite not directly impacting the score calculation due to weight redistribution.

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

More about Firstgroup

FirstGroup plc operates in the transportation industry, primarily offering public transportation services such as buses and trains. The company focuses on providing efficient and reliable transport solutions across the UK and North America.

Average Trading Volume: 1,490,925

Technical Sentiment Signal: Buy

Current Market Cap: £1.27B

Find detailed analytics on FGP stock on TipRanks’ Stock Analysis page.