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Kier Group plc ( (GB:KIE) ) has shared an update.
Kier Group plc announced the purchase of 56,891 of its own ordinary shares at a price of 227.50 GBp each as part of its ongoing buyback programme. This transaction, executed by Peel Hunt LLP, contributes to a total of 7,073,507 shares repurchased since the programme’s inception, with the company holding these shares in treasury. The buyback initiative aims to consolidate Kier’s financial position and potentially enhance shareholder value by reducing the number of shares in circulation, thereby impacting the company’s voting rights and market dynamics.
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, providing specialist design and build capabilities. The company leverages the knowledge, skills, and intellectual capital of its workforce to project manage and integrate all aspects of a project.
Average Trading Volume: 1,660,660
Technical Sentiment Signal: Hold
Current Market Cap: £972.6M
Learn more about KIE stock on TipRanks’ Stock Analysis page.