Balfour Beatty (LON:BBY) Board of Directors Authorizes Stock Repurchase Plan

Balfour Beatty (LON:BBY) declared that its board has authorized a stock repurchase program on Wednesday, March 12th, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Separately, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Balfour Beatty from GBX 500 ($6.47) to GBX 575 ($7.44) and gave the stock a “buy” rating in a research report on Friday, November 22nd.

Balfour Beatty Price Performance

LON BBY opened at GBX 448.40 ($5.80) on Friday. The company has a quick ratio of 0.84, a current ratio of 0.99 and a debt-to-equity ratio of 79.85. The stock has a market capitalization of £2.29 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 3.75 and a beta of 0.81. The company has a 50 day moving average price of GBX 451.97 and a two-hundred day moving average price of GBX 442.77. Balfour Beatty has a 12-month low of GBX 341.20 ($4.41) and a 12-month high of GBX 476.40 ($6.16).

Balfour Beatty (LON:BBY) last posted its earnings results on Wednesday, March 12th. The company reported GBX 43.60 ($0.56) earnings per share (EPS) for the quarter. Balfour Beatty had a net margin of 2.85% and a return on equity of 19.46%. As a group, equities analysts predict that Balfour Beatty will post 43.3100698 earnings per share for the current fiscal year.

About Balfour Beatty

Balfour Beatty is a leading international infrastructure group. With 26,000 employees across the UK, US and Hong Kong, we’re leading the transformation of our industry to meet the challenges of the future.
Trusted by our customers to deliver sustainable solutions and strengthen communities, we finance, develop, build, maintain and operate the increasingly complex and critical infrastructure that supports national economies and deliver projects at the heart of local communities.