IWG (LON:IWG) Share Price Passes Below 50 Day Moving Average – What’s Next?

IWG plc (LON:IWG)’s share price passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of GBX 188.71 and traded as low as GBX 182.20. IWG shares last traded at GBX 185.80, with a volume of 1,317,377 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on IWG. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 275 price objective on shares of IWG in a research report on Wednesday, May 13th. Jefferies Financial Group reissued a “buy” rating and set a GBX 265 target price on shares of IWG in a research report on Tuesday, May 12th. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of GBX 253.80.

IWG Price Performance

The stock has a market cap of £1.78 billion, a P/E ratio of 105.33, a P/E/G ratio of -5.59 and a beta of 1.56. The business has a 50 day simple moving average of GBX 188.71 and a 200-day simple moving average of GBX 197.81. The company has a debt-to-equity ratio of -2,429.18, a quick ratio of 0.45 and a current ratio of 0.38.

IWG declared that its Board of Directors has authorized a share buyback program on Tuesday, June 30th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 2.8% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

About IWG

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products. It provides its services franchise partners, landlords, and property owners under the Regus, Spaces, HQ, Signature, Basepoint, Stop & Work, The Office Operators, BizDojo, Open Office, No18, The Clubhouse, Central Working, and Copernico brands.