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McBride ( (GB:MCB) ) has issued an update.
McBride plc has executed a share buyback transaction, purchasing 105,532 ordinary shares at prices ranging from 121.60 to 124.80 pence per share, with a weighted average price of 122.3798 pence. This transaction is part of McBride’s ongoing buyback program, aimed at reducing the number of shares in circulation, which will subsequently be canceled. Following this transaction, McBride will have 178,300,963 ordinary shares in issue, excluding treasury shares, and 594,610,458 non-cumulative redeemable preference shares. The buyback is intended to consolidate the company’s share capital, potentially enhancing shareholder value by increasing the proportion of ownership for remaining shareholders.
The most recent analyst rating on (GB:MCB) stock is a Hold 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 Neutral.
McBride’s overall stock score reflects strong earnings call performance and attractive valuation. However, financial performance is hindered by high leverage and inconsistent revenue growth, while technical indicators suggest caution.
To see Spark’s full report on GB:MCB stock, click here.
More about McBride
Average Trading Volume: 445,798
Technical Sentiment Signal: Strong Buy
Current Market Cap: £217.4M
For an in-depth examination of MCB stock, go to TipRanks’ Overview page.