McBride (LON:MCB) Declares Share Buyback Program

McBride (LON:MCB) announced that its Board of Directors has initiated a stock buyback plan on Monday, December 1st, RTT News reports. The company plans to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Separately, Peel Hunt restated a “buy” rating and issued a GBX 190 price target on shares of McBride in a report on Thursday, November 20th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of GBX 190.

McBride Stock Performance

LON MCB traded up GBX 0.60 during trading on Monday, hitting GBX 124.40. The company’s stock had a trading volume of 2,849,547 shares, compared to its average volume of 429,858. The firm has a 50 day moving average price of GBX 120.70 and a 200 day moving average price of GBX 129.72. The company has a quick ratio of 0.54, a current ratio of 0.92 and a debt-to-equity ratio of 222.08. McBride has a 52 week low of GBX 96.62 and a 52 week high of GBX 162. The firm has a market cap of £217.96 million, a P/E ratio of 6.69, a price-to-earnings-growth ratio of -0.36 and a beta of 1.17.

McBride (LON:MCB) last posted its earnings results on Wednesday, September 17th. The company reported GBX 22.10 earnings per share for the quarter. McBride had a net margin of 3.56% and a return on equity of 62.24%. Equities research analysts forecast that McBride will post 19.2307692 earnings per share for the current fiscal year.

About McBride

With trading roots dating back to 1927, McBride boasts a strong heritage. As the leading European manufacturer and supplier of private label and contract manufactured products for the domestic household and professional cleaning and hygiene markets, McBride offers end‑to‑end development and manufacturing capabilities to a wide range of customers in Europe and Asia Pacific.