Future (LON:FUTR) Shares Pass Below Two Hundred Day Moving Average - What's Next?

Key Points

• Future plc's shares dropped below their two hundred day moving average, with the most recent trade at GBX 727.42 ($9.78) after hitting a low of GBX 710.50 ($9.55).
• JPMorgan Chase & Co. retains an "overweight" rating on Future shares, with a consensus price target of GBX 1,014.50 and a overall rating of "Moderate Buy" from analysts.
• The company has launched a share repurchase program indicating management's belief that the stock is currently undervalued.

Shares of Future plc (LON:FUTR - Get Free Report) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 753.22 ($10.12) and traded as low as GBX 710.50 ($9.55). Future shares last traded at GBX 727.42 ($9.78), with a volume of 460,276 shares trading hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reissued an "overweight" rating on shares of Future in a research note on Friday, July 18th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Future has a consensus rating of "Moderate Buy" and a consensus price target of GBX 1,014.50.

Future Stock Performance

The firm has a market capitalization of £768.81 million, a P/E ratio of 984.29, a P/E/G ratio of 0.64 and a beta of 1.01. The stock has a fifty day simple moving average of GBX 735.14 and a two-hundred day simple moving average of GBX 753.22. The company has a debt-to-equity ratio of 31.50, a current ratio of 0.69 and a quick ratio of 0.60.

Future declared that its Board of Directors has authorized a share repurchase program on Friday, August 1st that permits the company to buyback 0 outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

About Future

Future is a global platform for specialist media underpinned by proprietary technology, enabled by data; with diversified revenue streams

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.