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Serco Group plc ( (GB:SRP) ) has issued an announcement.
Serco Group plc, a company involved in providing public services, has announced the purchase of 274,316 of its own ordinary shares through J.P. Morgan Securities plc, as part of its ongoing share buy-back programme. This transaction increases the total number of shares held in treasury to 3,220,859, with 1,020,634,384 shares remaining in issue. The move is part of a strategic effort to manage the company’s capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:SRP) stock is a Buy with a £260.00 price target. To see the full list of analyst forecasts on Serco Group plc stock, see the GB:SRP Stock Forecast page.
Spark’s Take on GB:SRP Stock
According to Spark, TipRanks’ AI Analyst, GB:SRP is a Outperform.
Serco Group plc’s stock score is driven by strong technical indicators and positive earnings call sentiment, despite valuation concerns. Financial performance shows mixed results, with strong cash flow but profitability and debt challenges. The stock’s bullish momentum and strategic growth in the defense sector are key strengths.
To see Spark’s full report on GB:SRP stock, click here.
More about Serco Group plc
Average Trading Volume: 2,270,164
Technical Sentiment Signal: Buy
Current Market Cap: £2.25B
For a thorough assessment of SRP stock, go to TipRanks’ Stock Analysis page.