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Melrose ( (GB:MRO) ) just unveiled an announcement.
Melrose Industries PLC has announced the repurchase of 58,000 of its ordinary shares at prices ranging from £510 to £536 per share, with a weighted average price of £524.63. These shares will be held in treasury, contributing to a total of 39,179,464 shares held in treasury and 1,272,295,857 shares in issue. This move is part of Melrose’s ongoing buyback program, which aims to optimize capital structure and potentially enhance shareholder value.
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: 3,551,722
Technical Sentiment Signal: Buy
Current Market Cap: £6.82B
See more insights into MRO stock on TipRanks’ Stock Analysis page.