Helios Towers (LON:HTWS) to Buyback $175.00 million in Outstanding Stock

Helios Towers (LON:HTWS) announced that its Board of Directors has authorized a stock buyback plan on Thursday, September 17th, RTT News reports. The company plans to repurchase $175.00 million in shares. This repurchase authorization permits the company to repurchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities analysts have issued reports on HTWS shares. Berenberg Bank lifted their price target on shares of Helios Towers from GBX 275 to GBX 295 and gave the stock a “buy” rating in a report on Thursday, July 30th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 285 price objective on shares of Helios Towers in a research report on Wednesday, July 29th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of GBX 283.33.

Helios Towers Stock Up 3.3%

Shares of HTWS stock traded up GBX 6.58 during trading hours on Thursday, reaching GBX 208.78. 2,321,620 shares of the company’s stock were exchanged, compared to its average volume of 18,004,148. Helios Towers has a 1 year low of GBX 137 and a 1 year high of GBX 247.60. The company has a current ratio of 1.22, a quick ratio of 1.97 and a debt-to-equity ratio of 5,608.54. The stock has a market cap of £2.12 billion, a PE ratio of 86.99 and a beta of 1.11. The stock’s fifty day moving average price is GBX 200.38 and its two-hundred day moving average price is GBX 204.53.

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.