Stock Repurchase Program Declared by JD Sports Fashion (LON:JD) Board

JD Sports Fashion (LON:JD) announced that its board has authorized a stock repurchase plan on Thursday, September 25th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

JD Sports Fashion Stock Performance

LON JD opened at GBX 87.94 on Friday. The company has a current ratio of 1.42, a quick ratio of 0.71 and a debt-to-equity ratio of 133.23. The stock has a market capitalization of £4.56 billion, a price-to-earnings ratio of 879.40, a price-to-earnings-growth ratio of 1.05 and a beta of 1.65. The company has a 50 day simple moving average of GBX 90.42 and a 200 day simple moving average of GBX 83.08.

JD Sports Fashion (LON:JD) last released its earnings results on Wednesday, September 24th. The company reported GBX 4.60 earnings per share (EPS) for the quarter. JD Sports Fashion had a net margin of 3.17% and a return on equity of 14.97%. Equities analysts predict that JD Sports Fashion will post 15.037961 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on JD. Berenberg Bank reaffirmed a “buy” rating and set a GBX 155 price target on shares of JD Sports Fashion in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their target price on JD Sports Fashion from GBX 85 to GBX 100 and gave the company a “hold” rating in a research report on Tuesday, August 19th. JPMorgan Chase & Co. lowered their price target on JD Sports Fashion from GBX 92 to GBX 90 and set a “neutral” rating for the company in a report on Wednesday, September 3rd. Royal Bank Of Canada boosted their price objective on shares of JD Sports Fashion from GBX 90 to GBX 95 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Shore Capital reaffirmed a “buy” rating on shares of JD Sports Fashion in a research note on Thursday. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, JD Sports Fashion presently has a consensus rating of “Hold” and an average price target of GBX 103.17.

JD Sports Fashion Company Profile

JD Sports Fashion plc engages in the retail of branded sports fashion and outdoor clothing, footwear, accessories, and equipment for kids, women, and men. It operates through Sports Fashion and Outdoor segments. The company also retails leisure goods, sports goods, fishing gear, camping goods, boats, and bicycles, as well as distributes sports apparel and accessories, footwear, and apparel.