JD Sports Fashion (LON:JD) to Buyback 0 Outstanding Shares

Key Points

• JD Sports Fashion has announced a stock repurchase plan authorizing the buyback of 0 shares, indicating the board may not see its stock as undervalued.
• Despite the recent buyback announcement, JD Sports shares traded down 0.7%, reaching GBX 87.94, with a market capitalization of £4.56 billion.
• Analysts have mixed ratings on JD Sports, with an average price target of GBX 103.17 based on three "Buy" ratings and four "Hold" ratings.

JD Sports Fashion (LON:JD - Get Free Report) announced that its board has authorized a stock repurchase plan on Thursday, September 25th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

JD Sports Fashion Trading Down 0.7%

Shares of JD stock traded down GBX 0.66 during trading hours on Thursday, reaching GBX 87.94. 21,143,563 shares of the company's stock were exchanged, compared to its average volume of 393,791. The stock has a market cap of £4.56 billion, a PE ratio of 879.40, a PEG ratio of 1.05 and a beta of 1.65. The company has a debt-to-equity ratio of 133.23, a quick ratio of 0.71 and a current ratio of 1.42. The firm has a 50-day moving average price of GBX 90.42 and a two-hundred day moving average price of GBX 83.08.

JD Sports Fashion (LON:JD - Get Free Report) last issued its quarterly earnings results on Wednesday, September 24th. The company reported GBX 4.60 earnings per share for the quarter. JD Sports Fashion had a return on equity of 14.97% and a net margin of 3.17%. On average, equities analysts expect that JD Sports Fashion will post 15.037961 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

JD has been the subject of several recent research reports. Citigroup lifted their price objective on JD Sports Fashion from GBX 92 to GBX 95 and gave the company a "neutral" rating in a report on Wednesday, September 10th. Berenberg Bank reiterated a "buy" rating and issued a GBX 155 target price on shares of JD Sports Fashion in a report on Wednesday. Deutsche Bank Aktiengesellschaft boosted their target price on shares of JD Sports Fashion from GBX 85 to GBX 100 and gave the stock a "hold" rating in a report on Tuesday, August 19th. Royal Bank Of Canada boosted their target price on shares of JD Sports Fashion from GBX 90 to GBX 95 and gave the stock an "outperform" rating in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of JD Sports Fashion from GBX 92 to GBX 90 and set a "neutral" rating for the company in a report on Wednesday, September 3rd. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of GBX 103.17.

JD Sports Fashion Company Profile

JD Sports Fashion plc engages in the retail of branded sports fashion and outdoor clothing, footwear, accessories, and equipment for kids, women, and men. It operates through Sports Fashion and Outdoor segments. The company also retails leisure goods, sports goods, fishing gear, camping goods, boats, and bicycles, as well as distributes sports apparel and accessories, footwear, and apparel.

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