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The latest announcement is out from Morgan Advanced Materials ( (GB:MGAM) ).
Morgan Advanced Materials PLC has announced a share buyback transaction, purchasing 21,873 of its ordinary shares at prices ranging from 218.50 to 221.00 pence per share. The company intends to cancel these shares as part of a buyback program initiated in November 2024, which could potentially enhance shareholder value by reducing the number of shares outstanding and increasing earnings per share.
The most recent analyst rating on (GB:MGAM) stock is a Hold with a £231.00 price target. To see the full list of analyst forecasts on Morgan Advanced Materials stock, see the GB:MGAM Stock Forecast page.
Spark’s Take on GB:MGAM Stock
According to Spark, TipRanks’ AI Analyst, GB:MGAM is a Neutral.
Morgan Advanced Materials has a solid financial foundation with strong gross margins and efficient operations. However, concerns about revenue and net income growth, along with high capital expenditures impacting cash flow, weigh on the score. Technical indicators suggest a neutral to slightly positive outlook, while the valuation is moderate with an attractive dividend yield. The absence of earnings call and corporate events data limits further insights.
To see Spark’s full report on GB:MGAM stock, click here.
More about Morgan Advanced Materials
Morgan Advanced Materials PLC operates in the advanced materials industry, focusing on the development and manufacturing of high-performance materials. The company provides a range of products and services, including thermal ceramics, carbon and technical ceramics, and other advanced materials, catering to various sectors such as transportation, electronics, and healthcare.
Average Trading Volume: 573,529
Technical Sentiment Signal: Sell
Current Market Cap: £611M
Learn more about MGAM stock on TipRanks’ Stock Analysis page.