Stock Repurchase Program Initiated by McBride (LON:MCB) Board

McBride (LON:MCB) announced that its board has authorized a stock repurchase plan on Monday, December 1st, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

McBride Stock Performance

MCB opened at GBX 122 on Thursday. The stock’s 50 day simple moving average is GBX 120.64 and its 200-day simple moving average is GBX 129.47. The company has a current ratio of 0.92, a quick ratio of 0.54 and a debt-to-equity ratio of 222.08. The stock has a market cap of £213.75 million, a PE ratio of 6.56, a P/E/G ratio of -0.36 and a beta of 1.17. McBride has a 1 year low of GBX 96.62 and a 1 year high of GBX 162.

McBride (LON:MCB) last issued its earnings results on Wednesday, September 17th. The company reported GBX 22.10 EPS for the quarter. McBride had a return on equity of 62.24% and a net margin of 3.56%. Sell-side analysts forecast that McBride will post 19.2307692 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Peel Hunt reaffirmed a “buy” rating and set a GBX 190 target price on shares of McBride in a research report on Thursday, November 20th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, McBride presently has an average rating of “Buy” and a consensus price target of GBX 190.

McBride Company Profile

With trading roots dating back to 1927, McBride boasts a strong heritage. As the leading European manufacturer and supplier of private label and contract manufactured products for the domestic household and professional cleaning and hygiene markets, McBride offers end‑to‑end development and manufacturing capabilities to a wide range of customers in Europe and Asia Pacific.