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FirstGroup Executes Share Buyback Program

Story Highlights
  • FirstGroup plc has purchased 576,214 ordinary shares at an average price of 229.55 pence.
  • The buyback results in 168,512,138 shares held in treasury, affecting voting rights to 582,182,877.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
FirstGroup Executes Share Buyback Program

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The latest update is out from Firstgroup ( (GB:FGP) ).

FirstGroup plc has executed a share buyback program, purchasing 576,214 of its ordinary shares at an average price of 229.55 pence per share. This transaction, conducted through RBC Europe Limited, results in FirstGroup holding 168,512,138 shares in treasury, with the total number of voting rights in the company now standing at 582,182,877. The move is part of FirstGroup’s strategy to manage its capital structure and potentially enhance shareholder value.

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

Average Trading Volume: 1,408,066

Technical Sentiment Signal: Buy

Current Market Cap: £1.3B

See more insights into FGP stock on TipRanks’ Stock Analysis page.

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