Stock Buyback Program Initiated by Balfour Beatty (LON:BBY)

Balfour Beatty (LON:BBY) declared that its board has initiated a stock repurchase plan on Wednesday, March 11th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Balfour Beatty Stock Performance

LON:BBY traded up GBX 62.50 during mid-day trading on Wednesday, reaching GBX 764.50. The company’s stock had a trading volume of 5,571,631 shares, compared to its average volume of 5,123,844. The company has a current ratio of 0.97, a quick ratio of 0.84 and a debt-to-equity ratio of 104.84. The stock has a market cap of £3.70 billion, a P/E ratio of 21.66, a PEG ratio of 3.75 and a beta of 0.64. The firm’s fifty day moving average price is GBX 734.76 and its two-hundred day moving average price is GBX 687.37. Balfour Beatty has a 12-month low of GBX 365.80 and a 12-month high of GBX 800.

Balfour Beatty (LON:BBY) last announced its quarterly earnings results on Wednesday, March 11th. The company reported GBX 47.60 EPS for the quarter. Balfour Beatty had a net margin of 2.06% and a return on equity of 16.67%. On average, equities analysts forecast that Balfour Beatty will post 43.3100698 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft increased their target price on Balfour Beatty from GBX 650 to GBX 715 and gave the company a “buy” rating in a research note on Thursday, December 4th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Balfour Beatty has an average rating of “Buy” and an average target price of GBX 712.50.

About Balfour Beatty

Balfour Beatty is a leading international infrastructure group. With 26,000 employees across the UK, US and Hong Kong, we’re leading the transformation of our industry to meet the challenges of the future.

Trusted by our customers to deliver sustainable solutions and strengthen communities, we finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.

Collaborating with governments, our customers and partners, we deliver powerful new solutions, shape thinking, create skylines and inspire a new generation of talent to be the change-makers of tomorrow.