WH Smith ( (GB:SMWH) ) has shared an update.
WH Smith PLC announced the purchase of 52,200 ordinary shares as part of its ongoing buyback program, which was authorized by shareholders earlier this year. This move is part of a larger strategy, as the company has already acquired a total of 2,829,546 shares since the program’s inception. The purchased shares will be canceled, reducing the total number of shares in issue to 128,087,388, which impacts the company’s voting rights and shareholder calculations under regulatory guidelines.
Spark’s Take on GB:SMWH Stock
According to Spark, TipRanks’ AI Analyst, GB:SMWH is a Neutral.
WH Smith’s stock is supported by strong financial performance and strategic initiatives like share buybacks. However, high leverage and bearish technical indicators dampen the outlook. The stock is also burdened by a high P/E ratio, which may limit its attractiveness despite a decent dividend yield.
To see Spark’s full report on GB:SMWH stock, click here.
More about WH Smith
Average Trading Volume: 300,866
Technical Sentiment Signal: Sell
Current Market Cap: £1.15B
For a thorough assessment of SMWH stock, go to TipRanks’ Stock Analysis page.