Share Buyback Program Approved by London Stock Exchange Group (LON:LSEG) Board

London Stock Exchange Group (LON:LSEG) declared that its board has authorized a share buyback program on Thursday, July 30th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s board of directors believes its stock is undervalued.

London Stock Exchange Group Price Performance

LSEG traded down GBX 592 during trading on Thursday, reaching GBX 8,606. 1,781,475 shares of the company traded hands, compared to its average volume of 19,886,637. The company has a debt-to-equity ratio of 59.24, a quick ratio of 0.01 and a current ratio of 229.64. London Stock Exchange Group has a 12-month low of GBX 6,684 and a 12-month high of £102.90. The firm has a fifty day simple moving average of GBX 8,822.59 and a 200 day simple moving average of GBX 8,746.90. The company has a market cap of £41.90 billion, a P/E ratio of 36.31, a PEG ratio of 1.72 and a beta of 0.39.

London Stock Exchange Group (LON:LSEG) last released its quarterly earnings data on Thursday, July 30th. The company reported GBX 244.90 earnings per share (EPS) for the quarter. London Stock Exchange Group had a net margin of 13.41% and a return on equity of 6.10%. On average, equities analysts forecast that London Stock Exchange Group will post 405.5009823 EPS for the current year.

Analysts Set New Price Targets

LSEG has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of London Stock Exchange Group from £136 to £137 and gave the stock an “overweight” rating in a research note on Friday, April 10th. Citigroup cut shares of London Stock Exchange Group to a “buy” rating in a research note on Tuesday, July 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of London Stock Exchange Group from £119 to £110 and set a “buy” rating for the company in a report on Wednesday, July 1st. Finally, Jefferies Financial Group reissued a “buy” rating and set a £110 price target on shares of London Stock Exchange Group in a report on Friday, April 24th. Six research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of £121.33.

London Stock Exchange Group Company Profile

LSEG is a leading global financial markets infrastructure and data provider that operates connected businesses to serve customers across the entire financial markets value chain.

With capabilities in data, indices and analytics, capital formation, trade execution, clearing and risk management, we operate at the heart of the world’s financial ecosystem and enable the sustainable growth and stability of our customers and their communities.

Together, our five business divisions – Data and Analytics, FTSE Russell, Risk Intelligence, Capital Markets and Post Trade – offer customers seamless access to global financial markets, across the trading lifecycle.

LSEG is headquartered in London and has a major presence throughout Europe, the Americas, Asia Pacific and emerging markets.