IWG (LON:IWG) Board Declares Share Repurchase Program

IWG (LON:IWG) declared that its Board of Directors has initiated a stock repurchase program on Tuesday, June 30th, RTT News reports. The company plans to repurchase $50.00 million in shares. This repurchase authorization authorizes the company to purchase up to 2.8% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

IWG has been the topic of a number of research analyst reports. Jefferies Financial Group reissued a “buy” rating and issued a GBX 265 target price on shares of IWG in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 275 price objective on shares of IWG in a report 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of GBX 253.80.

IWG Price Performance

LON IWG traded up GBX 2.53 on Tuesday, reaching GBX 186.03. 3,712,152 shares of the company’s stock traded hands, compared to its average volume of 13,659,898. The stock has a market cap of £1.77 billion, a PE ratio of 103.35, a P/E/G ratio of -5.59 and a beta of 1.58. IWG has a 12 month low of GBX 163.50 and a 12 month high of GBX 250.60. The stock has a 50-day simple moving average of GBX 185.79 and a 200 day simple moving average of GBX 205.06. 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 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.