Helios Towers (LON:HTWS – Get Free Report) declared that its Board of Directors has initiated a stock repurchase program on Thursday, September 17th, RTT News reports. The company plans to buyback $175.00 million in shares. This buyback authorization permits the company to purchase up to 8.3% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.
Helios Towers Stock Down 1.0%
HTWS stock opened at GBX 206.40 on Friday. The company’s 50 day simple moving average is GBX 200.63 and its 200-day simple moving average is GBX 204.54. The firm has a market capitalization of £2.09 billion, a PE ratio of 86.00 and a beta of 1.11. Helios Towers has a 12 month low of GBX 137 and a 12 month high of GBX 247.60. The company has a debt-to-equity ratio of 5,608.54, a current ratio of 1.22 and a quick ratio of 1.97.
Wall Street Analysts Forecast Growth
A number of analysts have commented on HTWS shares. Jefferies Financial Group reiterated a “buy” rating and set a GBX 285 target price on shares of Helios Towers in a research report on Wednesday, July 29th. Berenberg Bank raised their price target on Helios Towers from GBX 275 to GBX 295 and gave the company a “buy” rating in a research report on Thursday, July 30th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of GBX 283.33.
About Helios Towers
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.
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