Costain Advances Share Buyback, Cutting Share Count to 267.6 Million
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Costain Group PLC has advanced its share buyback program, repurchasing 266,835 shares, reducing the total share count to 267,645,679. The shares were bought at an average price of 195 pence each, with all purchased shares set for cancellation. This move reflects management's confidence in the company's financial position and aims to enhance earnings per share for remaining shareholders. Analysts currently rate the stock as a Hold with a price target of £180.00, while TipRanks’ AI Analyst rates it as Outperform, citing improved financial stability despite concerns over revenue contraction.
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