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Melrose ( (GB:MRO) ) just unveiled an update.
Melrose Industries PLC has announced the purchase of 55,700 of its ordinary shares through J.P. Morgan Securities plc, with plans to hold these shares in treasury. This transaction is part of the company’s ongoing buyback program, which aims to manage its capital structure and potentially enhance shareholder value. As a result of this purchase, Melrose now holds 39,235,164 ordinary shares in treasury, with a total of 1,272,240,157 ordinary shares in issue, excluding treasury shares.
The most recent analyst rating on (GB:MRO) stock is a Sell with a £400.00 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.
Melrose Industries’ overall stock score reflects significant financial challenges and a high P/E ratio, offset by strong technical momentum and positive earnings call insights. The share buyback program adds a positive note, indicating confidence in future prospects.
To see Spark’s full report on GB:MRO stock, click here.
More about Melrose
Average Trading Volume: 3,497,092
Technical Sentiment Signal: Buy
Current Market Cap: £6.82B
Learn more about MRO stock on TipRanks’ Stock Analysis page.