McBride plc Advances Share Buyback Program with Recent Purchase

The latest announcement is out from McBride ( (GB:MCB) ).

McBride plc has announced the purchase and subsequent cancellation of 52,680 of its ordinary shares as part of its ongoing share buyback program. This move is intended to reduce the number of shares in circulation, potentially increasing the value of remaining shares and consolidating shareholder control. Following this transaction, McBride will have 177,683,947 ordinary shares in issue, with the total number of voting rights reflecting this updated figure. The buyback is part of a non-discretionary agreement with Investec Bank plc, and it aligns with the company’s strategy to manage its capital structure effectively.

The most recent analyst rating on (GB:MCB) stock is a Buy with a £138.00 price target. To see the full list of analyst forecasts on McBride stock, see the GB:MCB Stock Forecast page.

Spark’s Take on GB:MCB Stock

According to Spark, TipRanks’ AI Analyst, GB:MCB is a Outperform.

McBride’s overall stock score is driven by strong corporate events and earnings call highlights, including strategic initiatives and dividend reinstatement. While financial performance shows areas for improvement, the attractive valuation and positive technical indicators support a favorable outlook.

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

More about McBride

McBride plc operates in the consumer goods industry, primarily focusing on the production and distribution of household and personal care products. The company is known for its private label products and serves a diverse market, including retailers and wholesalers across Europe.

Average Trading Volume: 505,285

Technical Sentiment Signal: Buy

Current Market Cap: £212.4M

See more data about MCB stock on TipRanks’ Stock Analysis page.