Helios Towers (LON:HTWS) Stock Price Down 1.9% – What’s Next?

Helios Towers plc (LON:HTWS) shares dropped 1.9% during mid-day trading on Tuesday . The stock traded as low as GBX 161.80 and last traded at GBX 162. Approximately 941,444 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 3,718,386 shares. The stock had previously closed at GBX 165.20.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank increased their price objective on shares of Helios Towers from GBX 175 to GBX 215 and gave the company a “buy” rating in a research report on Thursday, November 13th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of GBX 230.

Helios Towers Price Performance

The firm’s 50-day moving average is GBX 161.08 and its 200-day moving average is GBX 144.31. The company has a market capitalization of £1.69 billion, a P/E ratio of 21.32 and a beta of 0.50. 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 announced that its Board of Directors has approved a stock repurchase plan on Thursday, November 6th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

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.