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Morgan Advanced Materials ( (GB:MGAM) ) just unveiled an announcement.
Morgan Advanced Materials PLC has executed a share buyback program, purchasing 24,207 of its ordinary shares at prices ranging from 204.50 to 209.00 pence per share, with a weighted average price of 206.7695 pence. This move, part of a previously announced buyback program, is aimed at canceling the purchased shares, potentially impacting the company’s stock value and shareholder equity by reducing the number of shares outstanding.
The most recent analyst rating on (GB:MGAM) stock is a Hold with a £234.00 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 margins and efficient operations, but faces challenges in revenue and net income growth. The technical indicators suggest a neutral to slightly bullish trend, while the valuation is attractive due to a reasonable P/E ratio and a high dividend yield. The lack of earnings call data and corporate events does not impact the score.
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 various sectors, including transportation, electronics, healthcare, and energy, by providing solutions that enhance the efficiency and performance of its clients’ operations.
Average Trading Volume: 570,173
Technical Sentiment Signal: Strong Sell
Current Market Cap: £549.5M
See more insights into MGAM stock on TipRanks’ Stock Analysis page.