Share Buyback Program Initiated by RS Group (LON:RS1) Board

RS Group (LON:RS1) announced that its Board of Directors has authorized a share buyback plan on Wednesday, May 20th, RTT News reports. The company plans to repurchase 0 shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on RS1. Royal Bank Of Canada cut their target price on RS Group from GBX 810 to GBX 770 and set an “outperform” rating for the company in a research note on Monday, March 30th. Stifel Nicolaus reissued a “buy” rating and set a GBX 675 target price on shares of RS Group in a research note on Wednesday. Finally, UBS Group reissued a “neutral” rating and set a GBX 620 target price on shares of RS Group in a research note on Monday. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of GBX 689.17.

RS Group Price Performance

RS1 stock traded up GBX 89.50 on Wednesday, reaching GBX 690. The company had a trading volume of 499,429,281 shares, compared to its average volume of 16,190,654. The company’s fifty day moving average is GBX 598.56 and its 200 day moving average is GBX 623.26. RS Group has a 1 year low of GBX 536.90 and a 1 year high of GBX 821.71. The company has a market cap of £3.23 billion, a P/E ratio of 20.41, a PEG ratio of 1.85 and a beta of 0.80. The company has a debt-to-equity ratio of 39.74, a quick ratio of 1.24 and a current ratio of 1.94.

RS Group (LON:RS1) last announced its quarterly earnings data on Wednesday, May 20th. The company reported GBX 38.70 earnings per share for the quarter. RS Group had a net margin of 5.49% and a return on equity of 11.47%. The business had revenue of GBX 288.11 billion for the quarter.

About RS Group

RS Group plc is a global product and service solutions provider for industrial customers, enabling them to operate efficiently and sustainably.

We operate in 36 markets, stock over 800,000 technical and specialist products and list an additional five million relevant for our industrial customers, sourced from over 2,500 suppliers. This extensive range supports our customers across the industrial lifecycle of designing, building, and maintaining equipment and operations. We enhance their experience through a tailored service model, leveraging our efficient physical, digital and process infrastructure sustainably.