Helios Towers (LON:HTWS) Stock Price Down 1.4% – Here’s What Happened

Helios Towers plc (LON:HTWS) traded down 1.4% on Thursday. The company traded as low as GBX 213.80 and last traded at GBX 216.40. 2,852,706 shares were traded during trading, a decline of 83% from the average daily volume of 16,845,699 shares. The stock had previously closed at GBX 219.40.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on HTWS. Berenberg Bank increased their target price on 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 reaffirmed a “buy” rating and issued a GBX 285 price target on shares of Helios Towers in a research note on Wednesday, July 29th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Helios Towers currently has an average rating of “Buy” and a consensus price target of GBX 283.33.

Helios Towers Stock Down 1.4%

The stock has a market capitalization of £2.19 billion, a P/E ratio of 90.17 and a beta of 1.11. The firm’s fifty day moving average is GBX 204.79 and its 200-day moving average is GBX 207.35. 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.

Helios Towers announced that its Board of Directors has authorized a stock buyback program on Thursday, September 17th that permits the company to buyback $175.00 million in outstanding shares. This buyback authorization permits the company to purchase up to 8.3% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

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.