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Melrose ( (GB:MRO) ) has shared an announcement.
Melrose Industries PLC, a company involved in purchasing its own shares, has recently acquired 149,834 of its ordinary shares through Investec Bank plc. The shares were bought at prices ranging from 605.40 pence to 618.00 pence, with a weighted average price of 614.2413 pence. The company plans to hold these shares in treasury, which now totals 46,076,000 ordinary shares, while the total number of shares in issue, excluding treasury shares, is 1,265,399,321. This transaction is part of a buyback program, which could potentially enhance shareholder value by reducing the number of shares available in the market.
The most recent analyst rating on (GB:MRO) stock is a Hold with a £609.00 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: 3,195,178
Technical Sentiment Signal: Strong Buy
Current Market Cap: £7.8B
For a thorough assessment of MRO stock, go to TipRanks’ Stock Analysis page.