Stock Buyback Program Authorized by Stamps.com (STMP)
Stamps.com (NASDAQ:STMP) announced that its Board of Directors has approved a stock buyback program, which authorizes the company to repurchase $90.00 million in shares on Thursday, November 2nd, EventVestor reports. This repurchase authorization authorizes the software maker to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several analysts have commented on the stock. B. Riley restated a “buy” rating and issued a $250.00 price objective on shares of Stamps.com in a report on Tuesday, August 8th. Craig Hallum set a $230.00 price objective on shares of Stamps.com and gave the stock a “buy” rating in a report on Friday, August 25th. Northland Securities restated a “buy” rating and issued a $200.00 price objective on shares of Stamps.com in a report on Thursday, September 14th. ValuEngine upgraded shares of Stamps.com from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Roth Capital raised their price objective on shares of Stamps.com from $166.00 to $203.00 and gave the stock a “buy” rating in a report on Thursday, August 3rd. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $217.71.
Stamps.com (NASDAQ STMP) traded down $55.10 during mid-day trading on Friday, hitting $171.25. 3,192,735 shares of the stock traded hands, compared to its average volume of 349,068. The stock has a market capitalization of $3,741.11, a PE ratio of 27.86, a price-to-earnings-growth ratio of 2.39 and a beta of 0.08. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.32.
Stamps.com (NASDAQ:STMP) last released its quarterly earnings results on Wednesday, August 2nd. The software maker reported $1.69 EPS for the quarter, beating the consensus estimate of $1.33 by $0.36. Stamps.com had a net margin of 31.54% and a return on equity of 37.18%. The firm had revenue of $116.14 million during the quarter, compared to the consensus estimate of $99.29 million. During the same quarter in the prior year, the firm earned $1.94 EPS. Stamps.com’s revenue for the quarter was up 38.2% on a year-over-year basis. equities research analysts anticipate that Stamps.com will post 6.17 earnings per share for the current year.
In other Stamps.com news, Director Lloyd I. Miller III sold 25,000 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $189.00, for a total transaction of $4,725,000.00. Following the completion of the transaction, the director now owns 110,269 shares in the company, valued at approximately $20,840,841. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sebastian Buerba sold 44,255 shares of the company’s stock in a transaction on Monday, September 11th. The stock was sold at an average price of $192.07, for a total transaction of $8,500,057.85. Following the transaction, the insider now owns 3,404 shares of the company’s stock, valued at approximately $653,806.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 528,754 shares of company stock valued at $107,736,958. 11.46% of the stock is owned by insiders.
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Stamps.com Company Profile
Stamps.com Inc is a provider of Internet-based mailing and shipping solutions in the United States. The Company offers mailing and shipping products and services to its customers under the Stamps.com, Endicia, ShipStation, ShipWorks and ShippingEasy brands. It operates through the Internet Mailing and Shipping Services segment.
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