Kingfisher (LON:KGF - Get Free Report) announced that its Board of Directors has approved a stock buyback program on Friday, April 10th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization authorizes the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.
Kingfisher Stock Performance
Shares of KGF stock traded up GBX 8.10 during mid-day trading on Friday, reaching GBX 308.20. 23,585,781 shares of the company's stock traded hands, compared to its average volume of 21,003,207. Kingfisher has a 12 month low of GBX 240.30 and a 12 month high of GBX 372.30. The firm has a 50 day moving average price of GBX 324.91 and a two-hundred day moving average price of GBX 314.66. The company has a debt-to-equity ratio of 38.02, a quick ratio of 0.27 and a current ratio of 1.21. The firm has a market capitalization of £5.17 billion, a PE ratio of 22.33, a price-to-earnings-growth ratio of 2.87 and a beta of 1.17.
Kingfisher (LON:KGF - Get Free Report) last announced its quarterly earnings results on Tuesday, March 24th. The home improvement retailer reported GBX 23.80 EPS for the quarter. Kingfisher had a net margin of 1.89% and a return on equity of 3.91%. On average, research analysts forecast that Kingfisher will post 23.6949924 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Kingfisher from GBX 255 to GBX 260 and gave the company a "sell" rating in a report on Friday, March 27th. UBS Group reissued a "neutral" rating and set a GBX 315 price target on shares of Kingfisher in a research report on Wednesday, March 25th. Finally, Berenberg Bank reduced their price target on shares of Kingfisher from GBX 333 to GBX 310 and set a "hold" rating for the company in a research report on Wednesday, March 25th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and a consensus price target of GBX 303.75.
View Our Latest Stock Analysis on KGF
Insider Activity
In other news, insider Lucinda Riches purchased 15,000 shares of the business's stock in a transaction that occurred on Monday, January 12th. The shares were bought at an average cost of GBX 323 per share, for a total transaction of £48,450. Corporate insiders own 0.35% of the company's stock.
About Kingfisher
Get Free Report)
Kingfisher plc is an international home improvement company with over 1,800 stores, supported by a team of c.73,000 colleagues. We operate in seven countries across Europe under retail banners including B&Q, Castorama, Brico Dépôt, Screwfix, TradePoint and Koçtaş. We offer home improvement products and services to consumers and trade professionals who shop in our stores and via our e-commerce channels.
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