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Morgan Advanced Materials ( (GB:MGAM) ) just unveiled an announcement.
Morgan Advanced Materials PLC has announced the purchase of 25,274 of its ordinary shares at a weighted average price of 213.4429 pence per share, as part of its ongoing share buyback program. The company intends to cancel these shares, a move that could potentially enhance shareholder value by reducing the number of shares outstanding, thereby increasing earnings per share.
The most recent analyst rating on (GB:MGAM) stock is a Hold with a £235.00 price target. To see the full list of analyst forecasts on Morgan Advanced Materials stock, see the GB:MGAM Stock Forecast page.
Spark’s Take on GB:MGAM Stock
According to Spark, TipRanks’ AI Analyst, GB:MGAM is a Neutral.
Morgan Advanced Materials’ overall stock score is primarily influenced by its strong financial performance, particularly in terms of gross margins and operational efficiency. However, concerns about revenue and net income growth, along with bearish technical indicators, weigh on the score. The fair valuation with a decent dividend yield provides some support, but the lack of earnings call data and corporate events limits additional insights.
To see Spark’s full report on GB:MGAM stock, click here.
More about Morgan Advanced Materials
Morgan Advanced Materials PLC operates in the advanced materials industry, focusing on the production and supply of high-performance materials and products. The company is known for its expertise in ceramics, carbon, and composites, serving a diverse range of markets including aerospace, automotive, and healthcare.
Average Trading Volume: 549,725
Technical Sentiment Signal: Sell
Current Market Cap: £589.1M
See more data about MGAM stock on TipRanks’ Stock Analysis page.