Share Buyback Plan Announced by Helios Towers (LON:HTWS)

Helios Towers (LON:HTWS) announced that its board has authorized a share repurchase program on Thursday, November 6th, RTT News reports. The company plans to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Helios Towers Trading Down 2.7%

Shares of LON:HTWS opened at GBX 167.20 on Friday. The business’s 50-day moving average is GBX 144.55 and its 200 day moving average is GBX 127.89. Helios Towers has a 1 year low of GBX 87.20 and a 1 year high of GBX 183.44. The company has a debt-to-equity ratio of -2,151.68, a current ratio of 1.24 and a quick ratio of 1.97. The firm has a market capitalization of £1.80 billion, a P/E ratio of 22.00 and a beta of 0.50.

Analyst Upgrades and Downgrades

HTWS has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Helios Towers from GBX 255 to GBX 245 and set a “buy” rating for the company in a research note on Thursday, September 18th. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 175 price target on shares of Helios Towers in a research report on Thursday, July 31st. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of GBX 210.

Helios Towers Company Profile

Helios Towers is a leading independent telecommunications infrastructure company, having established one of the most extensive tower portfolios across Africa and the Middle East. It builds, owns and operates telecom passive infrastructure, providing services to mobile network operators.

Helios Towers owns and operates telecommunication tower sites in Tanzania, Democratic Republic of Congo, Congo Brazzaville, Ghana, South Africa, Senegal, Madagascar, Malawi and Oman.

Helios Towers pioneered the model in Africa of buying towers that were held by single operators and providing services utilising the tower infrastructure to the seller and other operators.