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Melrose Industries PLC Announces Share Buyback

Story Highlights
  • Melrose Industries repurchased 154,162 shares at prices between 576.80 and 588.20 pence.
  • The repurchased shares will be held in treasury, increasing the total to 45,168,047.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Melrose Industries PLC Announces Share Buyback

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Melrose ( (GB:MRO) ) has issued an update.

Melrose Industries PLC has announced the repurchase of 154,162 of its ordinary shares at prices ranging from 576.80 to 588.20 pence per share, with a weighted average price of 584.2084 pence. These shares will be held in treasury, increasing the total number of shares in treasury to 45,168,047, while the total number of shares in issue remains at 1,266,307,274. This transaction is part of Melrose’s ongoing share buyback program, which aims to enhance shareholder value and optimize the company’s capital structure.

The most recent analyst rating on (GB:MRO) stock is a Hold with a £5.90 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’s overall stock score is driven by strong technical indicators and positive corporate events, which are offset by significant financial challenges. The company’s ambitious future targets and strategic initiatives provide a positive outlook, but current financial performance remains a concern. The valuation is moderate, and while the earnings call provided some optimism, risks from supply chain and FX issues remain.

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

More about Melrose

Average Trading Volume: 3,116,006

Technical Sentiment Signal: Strong Buy

Current Market Cap: £7.47B

See more data about MRO stock on TipRanks’ Stock Analysis page.

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