Share Buyback Program Approved by Helios Towers (LON:HTWS) Board

Helios Towers (LON:HTWS) declared that its board has authorized a stock buyback plan on Thursday, November 6th, RTT News reports. The company plans to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Helios Towers Stock Up 11.4%

Shares of LON:HTWS traded up GBX 17.66 during trading on Thursday, hitting GBX 172.66. 200,675,641 shares of the company were exchanged, compared to its average volume of 3,873,655. The stock has a market cap of £1.86 billion, a price-to-earnings ratio of 22.72 and a beta of 0.50. Helios Towers has a fifty-two week low of GBX 87.20 and a fifty-two week high of GBX 183.44. The firm has a fifty day moving average price of GBX 143.83 and a two-hundred day moving average price of GBX 127.32. The company has a current ratio of 1.24, a quick ratio of 1.97 and a debt-to-equity ratio of -2,151.68.

Analyst Ratings Changes

HTWS has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft dropped their target price on Helios Towers from GBX 255 to GBX 245 and set a “buy” rating on the stock in a research report on Thursday, September 18th. Berenberg Bank reissued a “buy” rating and issued a GBX 175 target price on shares of Helios Towers in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of GBX 210.

About Helios Towers

Helios Towers is a leading independent telecommunications infrastructure company, having established one of the most extensive tower portfolios across Africa and the Middle East. It builds, owns and operates telecom passive infrastructure, providing services to mobile network operators.

Helios Towers owns and operates telecommunication tower sites in Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana, South Africa, Senegal, Madagascar, Malawi and Oman.

Helios Towers pioneered the model in Africa of buying towers that were held by single operators and providing services utilising the tower infrastructure to the seller and other operators.