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Kier Group plc ( (GB:KIE) ) has provided an announcement.
Kier Group plc has announced the purchase of 56,912 of its Ordinary shares as part of a buyback programme initiated earlier in the year. The company plans to hold these shares in treasury, and this transaction brings the total number of shares purchased under the programme to 6,959,636. This move is expected to impact the company’s share capital structure, with 445,915,754 shares representing the total number of voting rights. This buyback is part of Kier’s strategic financial management to optimize its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:KIE) stock is a Buy with a £258.00 price target. To see the full list of analyst forecasts on Kier Group plc stock, see the GB:KIE Stock Forecast page.
Spark’s Take on GB:KIE Stock
According to Spark, TipRanks’ AI Analyst, GB:KIE is a Outperform.
Kier Group plc’s strong technical momentum and positive earnings call are the most significant factors driving the score. Financial performance is solid, though high leverage remains a concern. Valuation is fair, with a reasonable P/E ratio and attractive dividend yield.
To see Spark’s full report on GB:KIE stock, click here.
More about Kier Group plc
Kier Group plc is a leading UK infrastructure services, construction, and property group. The company provides specialist design and build capabilities, leveraging the knowledge, skills, and intellectual capital of its workforce to manage and integrate all aspects of a project.
Average Trading Volume: 1,658,682
Technical Sentiment Signal: Hold
Current Market Cap: £960M
For detailed information about KIE stock, go to TipRanks’ Stock Analysis page.