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The latest update is out from Melrose ( (GB:MRO) ).
Melrose Industries PLC, a company involved in the acquisition and improvement of underperforming businesses, announced the repurchase of 146,287 of its ordinary shares through Investec Bank plc. The shares were bought at prices ranging from 603.40 to 625.00 pence, with a weighted average price of 616.7884 pence per share. The purchased shares will be held in treasury, bringing the total number of treasury shares to 48,761,024, while the total shares in issue remain at 1,262,714,297 (excluding treasury shares). This buyback is part of Melrose’s broader strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:MRO) stock is a Sell with a £4.10 price target. To see the full list of analyst forecasts on Melrose stock, see the GB:MRO Stock Forecast page.
Spark’s Take on GB:MRO Stock
According to Spark, TipRanks’ AI Analyst, GB:MRO is a Neutral.
The overall stock score of 57 reflects significant financial challenges, including declining revenue and negative cash flows, which weigh heavily on the score. However, positive technical indicators suggest potential for price appreciation, partially offsetting financial weaknesses. The valuation is moderate, with a P/E ratio indicating fair pricing, but a low dividend yield limits attractiveness for income-focused investors.
To see Spark’s full report on GB:MRO stock, click here.
More about Melrose
Average Trading Volume: 3,161,008
Technical Sentiment Signal: Strong Buy
Current Market Cap: £7.49B
Learn more about MRO stock on TipRanks’ Stock Analysis page.