IWG (LON:IWG) Shares Down 0.2% – What’s Next?

IWG plc (LON:IWG)’s share price fell 0.2% during mid-day trading on Wednesday . The company traded as low as GBX 175 and last traded at GBX 176.65. 53,671,625 shares traded hands during trading, an increase of 340% from the average session volume of 12,194,000 shares. The stock had previously closed at GBX 177.

Analyst Ratings Changes

A number of research firms recently issued reports on IWG. Jefferies Financial Group reaffirmed a “buy” rating and set a GBX 265 price target on shares of IWG in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a GBX 275 price target on shares of IWG in a research note on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 253.80.

IWG Stock Performance

The company has a market capitalization of £1.73 billion, a P/E ratio of 101.50, a P/E/G ratio of -5.59 and a beta of 1.58. The business has a 50-day moving average of GBX 186.16 and a 200-day moving average of GBX 208.93. The company has a debt-to-equity ratio of -2,429.18, a current ratio of 0.38 and a quick ratio of 0.45.

IWG announced that its Board of Directors has initiated a share repurchase program on Tuesday, March 3rd that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

IWG Company Profile

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products. It provides its services franchise partners, landlords, and property owners under the Regus, Spaces, HQ, Signature, Basepoint, Stop & Work, The Office Operators, BizDojo, Open Office, No18, The Clubhouse, Central Working, and Copernico brands.