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Morgan Advanced Materials ( (GB:MGAM) ) has issued an announcement.
Morgan Advanced Materials PLC has executed a share buyback, purchasing 22,412 of its ordinary shares at a weighted average price of 223.9727 pence per share. This move is part of a previously announced buyback program, and the company plans to cancel the purchased shares, potentially impacting its share capital structure and signaling confidence in its financial position.
The most recent analyst rating on (GB:MGAM) stock is a Hold with a £231.00 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 has a solid financial foundation with strong gross margins and efficient operations. However, concerns about revenue and net income growth, along with high capital expenditures impacting cash flow, weigh on the score. Technical indicators suggest a neutral to slightly positive outlook, while the valuation is moderate with an attractive dividend yield. The absence of earnings call and corporate events data limits further 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 development and manufacturing of high-performance materials and products. The company serves a variety of sectors, including transportation, healthcare, and industrial applications, providing solutions that enhance the performance and efficiency of its clients’ operations.
Average Trading Volume: 558,332
Technical Sentiment Signal: Sell
Current Market Cap: £620.3M
See more data about MGAM stock on TipRanks’ Stock Analysis page.