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The latest announcement is out from Morgan Advanced Materials ( (GB:MGAM) ).
Morgan Advanced Materials PLC has executed a share buyback, purchasing 22,701 of its ordinary shares at a weighted average price of 214.2739 pence per share. This transaction is part of a previously announced buyback program, and the company intends to cancel the purchased shares, potentially impacting its share value and benefiting shareholders by reducing the number of shares in circulation.
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’ 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 of high-performance materials and components. The company serves a variety of sectors, including transportation, electronics, and healthcare, providing solutions that enhance the efficiency and reliability of its clients’ operations.
Average Trading Volume: 545,046
Technical Sentiment Signal: Sell
Current Market Cap: £603.2M
For detailed information about MGAM stock, go to TipRanks’ Stock Analysis page.