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Morgan Advanced Materials ( (GB:MGAM) ) has shared an update.
Morgan Advanced Materials PLC has executed a share buyback, purchasing 24,519 of its ordinary shares at a weighted average price of 220.7207 pence per share. This move is part of a previously announced buyback program and aims to cancel the acquired shares, potentially impacting the company’s share value and benefiting stakeholders by reducing the number of shares in circulation.
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 manufacture of products that utilize carbon, ceramics, and composites. The company serves a variety of sectors, including healthcare, transportation, and industrial markets, providing solutions that enhance the performance and efficiency of its clients’ products.
Average Trading Volume: 551,777
Technical Sentiment Signal: Strong Sell
Current Market Cap: £604.6M
For a thorough assessment of MGAM stock, go to TipRanks’ Stock Analysis page.