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Morgan Advanced Materials ( (GB:MGAM) ) has issued an announcement.
Morgan Advanced Materials PLC has executed a share buyback program, purchasing 23,984 of its own ordinary shares at a weighted average price of 224.3740 pence per share. The company plans to cancel these shares, which is part of a broader buyback initiative announced in November 2024, potentially impacting the company’s share value and market perception.
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 production and supply of high-performance materials and components. The company is known for its expertise in ceramics, carbon, and composites, serving a diverse range of sectors including aerospace, healthcare, and electronics.
Average Trading Volume: 555,321
Technical Sentiment Signal: Sell
Current Market Cap: £614.5M
See more data about MGAM stock on TipRanks’ Stock Analysis page.