Currys (LON:CURY) Declares Stock Buyback Program

Currys (LON:CURY) declared that its Board of Directors has approved a share repurchase program on Thursday, July 2nd, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its shares are undervalued.

Currys Trading Down 1.3%

Shares of LON:CURY traded down GBX 2.20 during midday trading on Thursday, reaching GBX 161.40. The company’s stock had a trading volume of 8,704,786 shares, compared to its average volume of 18,955,936. Currys has a fifty-two week low of GBX 106 and a fifty-two week high of GBX 169.41. The company has a debt-to-equity ratio of 40.08, a quick ratio of 0.29 and a current ratio of 0.87. The firm has a 50 day moving average price of GBX 142.87 and a two-hundred day moving average price of GBX 139.73. The firm has a market capitalization of £1.68 billion, a price-to-earnings ratio of 13.91 and a beta of 1.27.

Currys (LON:CURY) last issued its earnings results on Thursday, July 2nd. The company reported GBX 13.40 earnings per share (EPS) for the quarter. Currys had a net margin of 1.46% and a return on equity of 5.88%. As a group, analysts forecast that Currys will post 9.5199569 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Berenberg Bank reiterated a “buy” rating and issued a GBX 210 target price on shares of Currys in a report on Thursday. Royal Bank Of Canada upgraded shares of Currys to an “outperform” rating and dropped their price target for the stock from GBX 180 to GBX 165 in a research report on Tuesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a GBX 155 price objective on shares of Currys in a research note on Wednesday, May 20th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Currys currently has an average rating of “Buy” and a consensus target price of GBX 174.

Currys Company Profile

Currys plc is a leading omnichannel retailer of technology products and services, operating online and through over 800
stores in 8 countries. We Help Everyone Enjoy Amazing Technology, however they choose to shop with us.

In the UK & Ireland we trade as Currys; in the Nordics under the Elkjøp brand and as Kotsovolos in Greece. In each of
these markets we are the market leader, employing 28,000 capable and committed colleagues. Our full range of services
and support makes it easy for our customers to discover, choose, afford and enjoy the right technology for them,
throughout their lives.