Wickes Group ( (GB:WIX) ) has issued an update.
Wickes Group plc has announced the repurchase of 61,737 of its ordinary shares at prices ranging from 185.80 to 187.80 pence per share, as part of its ongoing buyback program. This move, which brings the total number of shares repurchased to 1,331,079, aims to cancel the purchased shares, reducing the company’s issued share capital to 240,735,220 shares. The cancellation of these shares will adjust the total number of voting rights, potentially impacting shareholder calculations under the Financial Conduct Authority’s rules.
Spark’s Take on GB:WIX Stock
According to Spark, TipRanks’ AI Analyst, GB:WIX is a Outperform.
Wickes Group scores a solid 72, reflecting a combination of moderate financial health, strong technical indicators, and positive corporate actions. The stock benefits from solid cash generation and strategic initiatives like share buybacks, which enhance shareholder value. However, challenges such as high leverage and declining revenue growth pose risks. The stock is moderately valued, supported by a strong dividend yield, making it an appealing option for income-focused investors.
To see Spark’s full report on GB:WIX stock, click here.
More about Wickes Group
YTD Price Performance: 27.87%
Average Trading Volume: 1,112,975
Technical Sentiment Signal: Sell
Current Market Cap: £439M
Find detailed analytics on WIX stock on TipRanks’ Stock Analysis page.