Share Repurchase Program Authorized by TheStreet (TST) Board
TheStreet (NASDAQ:TST) declared that its Board of Directors has initiated a stock buyback program, which permits the company to buyback 5,000,000 outstanding shares on Monday, November 13th, EventVestor reports. This buyback authorization permits the information services provider to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board of directors believes its stock is undervalued.
Several equities analysts recently issued reports on the company. Lake Street Capital raised their price objective on TheStreet from $2.00 to $3.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research cut TheStreet from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 6th. ValuEngine upgraded TheStreet from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, B. Riley set a $2.00 price objective on TheStreet and gave the stock a “buy” rating in a research note on Monday.
TheStreet (NASDAQ TST) opened at $1.30 on Wednesday. TheStreet has a one year low of $0.61 and a one year high of $1.56.
TheStreet (NASDAQ:TST) last issued its earnings results on Monday, November 13th. The information services provider reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.03. TheStreet had a negative return on equity of 1.30% and a negative net margin of 21.87%. The firm had revenue of $15.25 million for the quarter, compared to analyst estimates of $15.73 million. During the same period last year, the company earned ($0.03) earnings per share. research analysts predict that TheStreet will post -0.01 EPS for the current year.
TheStreet, Inc (TheStreet) is a digital financial media company focused on the financial, and mergers and acquisitions environment. The Company’s collection of digital services provides users, subscribers and advertisers with a range of content and tools through a range of online, social media, tablet and mobile channels.
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