Balfour Beatty (LON:BBY) to Buyback 0 Outstanding Shares

Balfour Beatty (LON:BBY) announced that its Board of Directors has approved a share repurchase program on Wednesday, March 12th, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft increased their target price on Balfour Beatty from GBX 500 ($6.48) to GBX 575 ($7.46) and gave the stock a “buy” rating in a report on Friday, November 22nd.

Balfour Beatty Stock Up 4.5 %

LON:BBY traded up GBX 19.60 ($0.25) during trading hours on Wednesday, reaching GBX 453.20 ($5.88). 1,319,049 shares of the stock were exchanged, compared to its average volume of 2,705,636. The stock has a market cap of £2.31 billion, a PE ratio of 10.58, a PEG ratio of 3.75 and a beta of 0.81. Balfour Beatty has a twelve month low of GBX 338.80 ($4.39) and a twelve month high of GBX 476.40 ($6.18). The firm has a 50 day moving average of GBX 452.36 and a 200 day moving average of GBX 442.49. The company has a debt-to-equity ratio of 79.85, a current ratio of 0.99 and a quick ratio of 0.84.

Balfour Beatty (LON:BBY) last released its earnings results on Wednesday, March 12th. The company reported GBX 43.60 ($0.57) earnings per share for the quarter. Balfour Beatty had a net margin of 2.85% and a return on equity of 19.46%. On average, equities analysts expect that Balfour Beatty will post 43.3100698 earnings per share for the current year.

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.