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Reckitt ( (GB:RKT) ) just unveiled an update.
Reckitt Benckiser Group PLC announced the repurchase of 75,500 of its ordinary shares from HSBC Bank plc, as authorized by shareholders at the company’s Annual General Meeting. The shares, purchased at a volume-weighted average price of 4,998.64 pence, will be held in treasury, affecting the total number of voting rights and shares in issue, which now stands at 679,212,105. This transaction reflects the company’s strategic financial management and could impact shareholder interests and market perceptions.
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 sectors. The company is known for its wide range of products, including well-known brands in cleaning, health, and personal care, and it focuses on delivering high-quality consumer goods to markets worldwide.
Average Trading Volume: 1,601,153
Technical Sentiment Signal: Buy
Current Market Cap: £34.17B
For a thorough assessment of RKT stock, go to TipRanks’ Stock Analysis page.