Fonix Mobile (LON:FNX) Board of Directors Approves Stock Repurchase Program

Fonix Mobile (LON:FNX) declared that its Board of Directors has initiated a stock buyback program on Friday, May 22nd, RTT News reports. The company plans to buyback 1,250,000,000,000 outstanding shares. This buyback authorization authorizes the company to purchase up to 1.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reaffirmed a “buy” rating and issued a GBX 293 price target on shares of Fonix Mobile in a research note on Wednesday, March 18th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Fonix Mobile currently has an average rating of “Buy” and a consensus price target of GBX 293.

Fonix Mobile Stock Down 0.6%

FNX stock traded down GBX 1 during trading on Friday, reaching GBX 158. 89,340 shares of the stock were exchanged, compared to its average volume of 197,587. The firm’s 50 day moving average is GBX 159.73 and its 200 day moving average is GBX 171.45. The firm has a market cap of £156.22 million, a P/E ratio of 14.11 and a beta of 0.58. The company has a current ratio of 1.12, a quick ratio of 1.16 and a debt-to-equity ratio of 0.77. Fonix Mobile has a twelve month low of GBX 144.25 and a twelve month high of GBX 244.

Fonix Mobile (LON:FNX) last announced its quarterly earnings data on Tuesday, March 17th. The company reported GBX 6.20 EPS for the quarter. Fonix Mobile had a return on equity of 104.64% and a net margin of 14.66%. As a group, research analysts forecast that Fonix Mobile will post 10.9108622 EPS for the current year.

Fonix Mobile Company Profile

Founded in 2006, Fonix provides mobile payments and messaging services for clients across media, telecoms, entertainment, enterprise and commerce. Based in London, Fonix is a fast growth business driven ITV, Bauer Media, BT, Global Radio, Comic Relief and Children in Need to name a few.