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Kingfisher ( (GB:KGF) ) has provided an update.
Kingfisher PLC, a company engaged in a £300 million capital return programme, has announced the purchase and cancellation of 1.7 million ordinary shares from BNP Paribas SA as part of this initiative. This transaction is part of the second tranche of the programme, and to date, Kingfisher has purchased over 16.9 million shares from BNP Paribas and 17.9 million shares from Goldman Sachs International in the first tranche. This move is expected to enhance shareholder value and optimize the company’s capital structure.
The most recent analyst rating on (GB:KGF) stock is a Hold with a £330.00 price target. To see the full list of analyst forecasts on Kingfisher stock, see the GB:KGF Stock Forecast page.
Spark’s Take on GB:KGF Stock
According to Spark, TipRanks’ AI Analyst, GB:KGF is a Neutral.
Kingfisher’s overall stock score reflects a balanced outlook. Strengths include a solid balance sheet, strong cash generation, and strategic share buybacks. However, profitability pressures, declining sales, and high valuation metrics weigh on the score.
To see Spark’s full report on GB:KGF stock, click here.
More about Kingfisher
Average Trading Volume: 6,677,995
Technical Sentiment Signal: Strong Buy
Current Market Cap: £4.77B
See more insights into KGF stock on TipRanks’ Stock Analysis page.