tiprankstipranks
Trending News
More News >

Melrose Industries PLC Announces Share Buyback

Story Highlights
  • Melrose Industries repurchased 64,100 shares at an average price of 466.1505 pence.
  • The buyback increases treasury shares to 38,324,125, potentially enhancing shareholder value.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Melrose Industries PLC Announces Share Buyback

Confident Investing Starts Here:

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

Melrose Industries PLC, a company involved in various industrial sectors, has announced the repurchase of 64,100 of its ordinary shares through J.P. Morgan Securities plc. The shares were bought at prices ranging from 462.4000 to 469.6000 pence, with a weighted average price of 466.1505 pence. These shares will be held in treasury, increasing the total number of treasury shares to 38,324,125. This move is part of a buyback program, which could potentially enhance shareholder value by reducing the number of shares in circulation.

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 score reflects significant financial challenges, offset by strategic initiatives like share buybacks and operational improvements. The positive sentiment from the earnings call and technical indicators provide some optimism, but valuation remains a concern.

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

More about Melrose

Average Trading Volume: 3,884,347

Technical Sentiment Signal: Hold

Current Market Cap: £5.96B

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

Disclaimer & Disclosure

Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.

Report an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App