Melrose Industries Enhances Treasury with Share Buyback

Melrose ( (GB:MRO) ) just unveiled an announcement.

Melrose Industries PLC has announced the repurchase of 63,000 of its ordinary shares, priced between £468.90 and £481.10, with a weighted average price of £474.97. These shares will be held in treasury, adding to the company’s existing 37,876,925 shares in treasury, while the total number of shares in issue, excluding treasury shares, stands at 1,273,598,396. This move is part of Melrose’s ongoing buyback program, executed through J.P. Morgan Securities plc, and reflects the company’s strategy to manage its capital structure effectively.

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.

The overall stock score reflects the company’s financial challenges and valuation concerns, offset by positive earnings call sentiment and strategic share buybacks. The mixed technical indicators add uncertainty to the outlook.

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

More about Melrose

Average Trading Volume: 4,494,933

Technical Sentiment Signal: Hold

Current Market Cap: £6.07B

Learn more about MRO stock on TipRanks’ Stock Analysis page.