IWG (LON:IWG) to Repurchase $100.00 million in Outstanding Stock

IWG (LON:IWG) announced that its board has authorized a stock repurchase plan on Tuesday, March 3rd, RTT News reports. The company plans to repurchase $100.00 million in shares. This repurchase authorization authorizes the company to buy up to 5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

IWG Trading Up 4.4%

LON IWG opened at GBX 212.40 on Thursday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of -3,635.81. IWG has a 52 week low of GBX 146 and a 52 week high of GBX 250.60. The business has a 50 day moving average price of GBX 232.66 and a 200-day moving average price of GBX 223.59. The company has a market cap of £2.10 billion, a price-to-earnings ratio of 96.55, a P/E/G ratio of -5.59 and a beta of 1.62.

Analyst Ratings Changes

Separately, Jefferies Financial Group increased their target price on shares of IWG from GBX 245 to GBX 265 and gave the stock a “buy” rating in a research note on Monday, November 24th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, IWG presently has an average rating of “Moderate Buy” and an average price target of GBX 248.50.

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.