Share Buyback Program Declared by London Stock Exchange Group (LON:LSEG) Board

London Stock Exchange Group (LON:LSEG) announced that its board has approved a stock repurchase program on Thursday, July 30th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

London Stock Exchange Group Stock Performance

London Stock Exchange Group stock traded down GBX 592 during mid-day trading on Thursday, reaching GBX 8,606. 1,781,475 shares of the stock traded hands, compared to its average volume of 19,886,637. London Stock Exchange Group has a 12-month low of GBX 6,684 and a 12-month high of £102.90. The business’s 50-day moving average is GBX 8,822.59 and its 200-day moving average is GBX 8,746.90. The company has a debt-to-equity ratio of 59.24, a current ratio of 229.64 and a quick ratio of 0.01. The stock has a market capitalization of £41.90 billion, a PE ratio of 36.31, a price-to-earnings-growth ratio of 1.72 and a beta of 0.39.

London Stock Exchange Group (LON:LSEG) last announced its earnings results on Thursday, July 30th. The company reported GBX 244.90 earnings per share (EPS) for the quarter. London Stock Exchange Group had a return on equity of 6.10% and a net margin of 13.41%. As a group, sell-side analysts predict that London Stock Exchange Group will post 405.5009823 EPS for the current fiscal year.

Analysts Set New Price Targets

LSEG has been the topic of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of London Stock Exchange Group from £136 to £137 and gave the company an “overweight” rating in a research note on Friday, April 10th. Jefferies Financial Group reiterated a “buy” rating and issued a £110 price target on shares of London Stock Exchange Group in a research note on Friday, April 24th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of London Stock Exchange Group from £119 to £110 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, Citigroup downgraded shares of London Stock Exchange Group to a “buy” rating in a research report on Tuesday, July 7th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of £121.33.

London Stock Exchange Group Company Profile

LSEG is a leading global financial markets infrastructure and data provider that operates connected businesses to serve customers across the entire financial markets value chain.

With capabilities in data, indices and analytics, capital formation, trade execution, clearing and risk management, we operate at the heart of the world’s financial ecosystem and enable the sustainable growth and stability of our customers and their communities.

Together, our five business divisions – Data and Analytics, FTSE Russell, Risk Intelligence, Capital Markets and Post Trade – offer customers seamless access to global financial markets, across the trading lifecycle.

LSEG is headquartered in London and has a major presence throughout Europe, the Americas, Asia Pacific and emerging markets.