RS Group (LON:RS1) Board Declares Stock Repurchase Program

RS Group (LON:RS1) declared that its Board of Directors has approved a share buyback program on Wednesday, May 20th, RTT News reports. The company plans to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

RS Group Stock Performance

Shares of LON RS1 traded up GBX 89.50 during midday trading on Wednesday, reaching GBX 690. 499,429,281 shares of the company traded hands, compared to its average volume of 16,190,654. RS Group has a 52 week low of GBX 536.90 and a 52 week high of GBX 821.71. The stock has a 50-day moving average price of GBX 598.56 and a 200 day moving average price of GBX 623.26. The company has a debt-to-equity ratio of 39.74, a current ratio of 1.94 and a quick ratio of 1.24. The company has a market cap of £3.23 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.85 and a beta of 0.80.

RS Group (LON:RS1) last issued 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.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. UBS Group restated a “neutral” rating and set a GBX 620 price objective on shares of RS Group in a research note on Monday. Royal Bank Of Canada cut their price objective on shares of RS Group from GBX 810 to GBX 770 and set an “outperform” rating on the stock in a research report on Monday, March 30th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a GBX 675 price objective on shares of RS Group in a research report on Wednesday. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, RS Group has a consensus rating of “Moderate Buy” and an average price target of GBX 689.17.

RS Group Company Profile

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.