Share Repurchase Program Announced by Fonix Mobile (LON:FNX)

Fonix Mobile (LON:FNX – Get Free Report) declared that its board has approved a share repurchase program on Friday, May 22nd, RTT News reports. The company plans to buyback 1,250,000,000,000 shares. This buyback authorization allows the company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 293 price target on shares of Fonix Mobile in a research note on Wednesday, March 18th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 293.

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Fonix Mobile Price Performance

LON:FNX traded down GBX 1 during trading hours on Friday, hitting GBX 158. The company’s stock had a trading volume of 89,340 shares, compared to its average volume of 197,587. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.12 and a quick ratio of 1.16. The company has a market capitalization of £156.22 million, a P/E ratio of 14.11 and a beta of 0.58. Fonix Mobile has a twelve month low of GBX 144.25 and a twelve month high of GBX 244. The stock has a fifty day simple moving average of GBX 159.73 and a 200-day simple moving average of GBX 171.45.

Fonix Mobile (LON:FNX – Get Free Report) last released its quarterly earnings data on Tuesday, March 17th. The company reported GBX 6.20 earnings per share for the quarter. Fonix Mobile had a return on equity of 104.64% and a net margin of 14.66%. On average, analysts anticipate that Fonix Mobile will post 10.9108622 EPS for the current fiscal year.

About Fonix Mobile

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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.

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