Canaccord Genuity Group Reiterates “Buy” Rating for Fonix Mobile (LON:FNX)

Fonix Mobile (LON:FNX)‘s stock had its “buy” rating reaffirmed by research analysts at Canaccord Genuity Group in a research report issued to clients and investors on Thursday,Digital Look reports. They currently have a GBX 293 target price on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 73.07% from the company’s current price.

Fonix Mobile Stock Up 0.2%

Shares of Fonix Mobile stock opened at GBX 169.30 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.16 and a current ratio of 1.12. Fonix Mobile has a 52-week low of GBX 143 and a 52-week high of GBX 244. The stock has a market capitalization of £165.28 million, a price-to-earnings ratio of 15.12 and a beta of 0.58. The company’s 50 day moving average price is GBX 155.63 and its 200-day moving average price is GBX 162.86.

Fonix Mobile announced that its board has approved a share buyback plan on Friday, May 22nd that permits the company to buyback 1,250,000,000,000 shares. This buyback authorization permits the company to repurchase up to 1.3% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership believes its stock is undervalued.

Fonix Mobile Company Profile

Founded in 2006, Fonix provides mobile payments and messaging services for clients across media, telecoms, entertainment, enterprise and commerce. Based in London, Fonix is a fast growth business driven ITV, Bauer Media, BT, Global Radio, Comic Relief and Children in Need to name a few.