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An announcement from Melrose ( (GB:MRO) ) is now available.
Melrose Industries PLC has announced a share buyback transaction, purchasing 96,347 of its ordinary shares through Investec Bank plc. The shares were bought at prices ranging from 623.80 to 630.00 pence, with a weighted average price of 627.4161 pence. These shares will be held in treasury, bringing the total number of treasury shares to 51,052,297, while the total number of shares in issue, excluding treasury shares, stands at 1,260,423,024. This move is part of Melrose’s ongoing buyback programme, which aims to manage the company’s capital structure and return value to shareholders.
The most recent analyst rating on (GB:MRO) stock is a Hold with a £590.00 price target. To see the full list of analyst forecasts on Melrose stock, see the GB:MRO Stock Forecast page.
Spark’s Take on GB:MRO Stock
According to Spark, TipRanks’ AI Analyst, GB:MRO is a Neutral.
The overall stock score of 57 reflects significant financial challenges, including declining revenue and negative cash flows, which weigh heavily on the score. However, positive technical indicators suggest potential for price appreciation, partially offsetting financial weaknesses. The valuation is moderate, with a P/E ratio indicating fair pricing, but a low dividend yield limits attractiveness for income-focused investors.
To see Spark’s full report on GB:MRO stock, click here.
More about Melrose
Average Trading Volume: 3,448,871
Technical Sentiment Signal: Strong Buy
Current Market Cap: £7.89B
See more data about MRO stock on TipRanks’ Stock Analysis page.