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The latest update is out from Reckitt ( (GB:RKT) ).
Reckitt Benckiser Group PLC announced the repurchase of 75,000 of its ordinary shares from HSBC Bank plc, as part of a buyback program authorized by shareholders. The shares will be held in treasury, impacting the total number of voting rights, which now stands at 679,286,144. This move is part of Reckitt’s strategic financial management, potentially affecting shareholder value and market perception.
The most recent analyst rating on (GB:RKT) stock is a Buy with a £51.00 price target. To see the full list of analyst forecasts on Reckitt stock, see the GB:RKT Stock Forecast page.
Spark’s Take on GB:RKT Stock
According to Spark, TipRanks’ AI Analyst, GB:RKT is a Outperform.
Reckitt’s strong financial health and technical indicators are the most significant factors driving the stock’s positive outlook. The active corporate strategy with share buybacks and strategic appointments further supports confidence in the stock. However, a high P/E ratio indicates the stock might be overvalued, balanced by a solid dividend yield, making it attractive for income-focused investors.
To see Spark’s full report on GB:RKT stock, click here.
More about Reckitt
Reckitt Benckiser Group PLC is a global consumer goods company operating in the health, hygiene, and home product sectors. The company is known for its wide range of products, including well-known brands in over-the-counter health products, household cleaning, and personal care.
Average Trading Volume: 1,600,612
Technical Sentiment Signal: Buy
Current Market Cap: £34.17B
For a thorough assessment of RKT stock, go to TipRanks’ Stock Analysis page.