IWG (LON:IWG) Reaches New 1-Year High - Here's Why

IWG plc (LON:IWG - Get Free Report) hit a new 52-week high during mid-day trading on Friday . The company traded as high as GBX 212.40 ($2.85) and last traded at GBX 209 ($2.81), with a volume of 37641199 shares traded. The stock had previously closed at GBX 196.70 ($2.64).

IWG Stock Up 0.3%

The business has a 50-day moving average price of GBX 188.72 and a 200-day moving average price of GBX 177.89. The company has a market capitalization of £2.05 billion, a price-to-earnings ratio of -15.19, a price-to-earnings-growth ratio of -5.59 and a beta of 2.10. The company has a quick ratio of 0.45, a current ratio of 0.41 and a debt-to-equity ratio of 12,629.31.

IWG declared that its Board of Directors has authorized a share buyback program on Tuesday, March 4th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 2.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's management believes its stock is undervalued.

About IWG

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products.