Helios Towers (LON:HTWS) Board of Directors Initiates Stock Repurchase Plan

Helios Towers (LON:HTWS) declared that its Board of Directors has approved a share buyback program on Thursday, November 6th, RTT News reports. The company plans to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

Helios Towers Stock Up 11.4%

Shares of LON HTWS opened at GBX 172.66 on Friday. The company has a 50 day simple moving average of GBX 143.83 and a 200 day simple moving average of GBX 127.32. The company has a debt-to-equity ratio of -2,151.68, a current ratio of 1.24 and a quick ratio of 1.97. Helios Towers has a 1 year low of GBX 87.20 and a 1 year high of GBX 183.44. The firm has a market cap of £1.86 billion, a PE ratio of 22.72 and a beta of 0.50.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on HTWS shares. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Helios Towers from GBX 255 to GBX 245 and set a “buy” rating for the company in a research report on Thursday, September 18th. Berenberg Bank restated a “buy” rating and issued a GBX 175 target price on shares of Helios Towers in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Helios Towers has a consensus rating of “Buy” and a consensus target price of GBX 210.

About Helios Towers

Helios Towers is a leading independent telecommunications infrastructure company, having established one of the most extensive tower portfolios across Africa and the Middle East. It builds, owns and operates telecom passive infrastructure, providing services to mobile network operators.

Helios Towers owns and operates telecommunication tower sites in Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana, South Africa, Senegal, Madagascar, Malawi and Oman.

Helios Towers pioneered the model in Africa of buying towers that were held by single operators and providing services utilising the tower infrastructure to the seller and other operators.