Biffa PLC (BIFF) Receives GBX 260 Consensus Price Target from Analysts
Biffa PLC (LON:BIFF) has earned a consensus rating of “Buy” from the six ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is GBX 260 ($3.46).
BIFF has been the subject of several recent research reports. Citigroup cut Biffa to a “neutral” rating and lowered their price target for the company from GBX 240 ($3.20) to GBX 220 ($2.93) in a research note on Thursday, March 8th. HSBC lowered Biffa to a “hold” rating and reduced their target price for the stock from GBX 300 ($3.99) to GBX 250 ($3.33) in a report on Thursday, March 8th. Numis Securities restated a “buy” rating on shares of Biffa in a report on Wednesday, June 13th. Peel Hunt lowered Biffa to an “add” rating and reduced their target price for the stock from GBX 265 ($3.53) to GBX 250 ($3.33) in a report on Wednesday, March 7th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a GBX 290 ($3.86) target price on shares of Biffa in a report on Thursday, March 8th.
In other news, insider David Martin acquired 10,000 shares of the stock in a transaction dated Friday, May 11th. The shares were acquired at an average cost of GBX 202 ($2.69) per share, for a total transaction of £20,200 ($26,893.89). Also, insider Ken Lever acquired 25,000 shares of the stock in a transaction dated Tuesday, April 3rd. The shares were purchased at an average price of GBX 206 ($2.74) per share, for a total transaction of £51,500 ($68,566.10).
Biffa (LON:BIFF) last announced its quarterly earnings results on Wednesday, June 13th. The company reported GBX 19.20 ($0.26) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of GBX 18.70 ($0.25) by GBX 0.50 ($0.01). Biffa had a return on equity of 15.75% and a net margin of 4.43%.
The business also recently announced a dividend, which will be paid on Friday, July 27th. Investors of record on Thursday, July 5th will be issued a GBX 4.53 ($0.06) dividend. This is a positive change from Biffa’s previous dividend of $2.17. This represents a yield of 1.92%. The ex-dividend date of this dividend is Thursday, July 5th.
Biffa plc provides waste management services in the United Kingdom. It operates through four divisions: Industrial & Commercial, Municipal, Resource Recovery & Treatment, and Energy. The company is involved in the collection, treatment, processing, and disposal of industrial and commercial waste and recyclable materials; production and sale of energy from waste; and sale of recovered commodities, such as paper, glass, metals, and plastic.
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