Currys (LON:CURY) Board of Directors Announces Share Buyback Plan

Currys (LON:CURY) declared that its Board of Directors has approved a share repurchase plan on Thursday, September 4th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization permits the company to repurchase 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.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CURY. Citigroup raised their target price on Currys from GBX 121 to GBX 150 and gave the company a “buy” rating in a report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 130 target price on shares of Currys in a report on Friday, July 4th. Berenberg Bank restated a “buy” rating and set a GBX 175 target price on shares of Currys in a report on Thursday. Finally, Shore Capital restated a “no recommendation” rating on shares of Currys in a report on Thursday, July 3rd. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Currys presently has a consensus rating of “Buy” and a consensus target price of GBX 151.67.

Currys Price Performance

Shares of LON CURY opened at GBX 127.39 on Friday. The company has a debt-to-equity ratio of 45.83, a quick ratio of 0.29 and a current ratio of 0.86. Currys has a fifty-two week low of GBX 74.90 and a fifty-two week high of GBX 135.60. The firm has a market capitalization of £1.37 billion, a PE ratio of 1,340.93 and a beta of 1.31. The stock’s 50-day simple moving average is GBX 115.11 and its 200-day simple moving average is GBX 109.44.

Currys (LON:CURY) last issued its earnings results on Thursday, July 3rd. The company reported GBX 10 earnings per share for the quarter. Currys had a return on equity of 9.53% and a net margin of 2.38%. As a group, equities research analysts forecast that Currys will post 9.5199569 EPS for the current fiscal year.

Insider Activity at Currys

In other Currys news, insider Alex Baldock sold 671,132 shares of Currys stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of GBX 115, for a total transaction of £771,801.80. Also, insider Bruce Marsh sold 316,501 shares of Currys stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of GBX 115, for a total value of £363,976.15. In the last ninety days, insiders have sold 1,246,707 shares of company stock worth $142,888,120. 14.22% of the stock is currently owned by corporate insiders.

About Currys

Currys plc is a leading omnichannel retailer of technology products and services, operating online and through over 800
stores in 8 countries. We Help Everyone Enjoy Amazing Technology, however they choose to shop with us.

In the UK & Ireland we trade as Currys; in the Nordics under the Elkjøp brand and as Kotsovolos in Greece.