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

Helios Towers (LON:HTWS) declared that its Board of Directors has approved a share buyback program on Thursday, September 17th, RTT News reports. The company plans to repurchase $175.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 8.3% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

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

Helios Towers Stock Up 3.3%

LON HTWS traded up GBX 6.58 during trading on Thursday, reaching GBX 208.78. 2,321,620 shares of the company’s stock traded hands, compared to its average volume of 18,004,148. Helios Towers has a 12-month low of GBX 137 and a 12-month high of GBX 247.60. The company has a debt-to-equity ratio of 5,608.54, a current ratio of 1.22 and a quick ratio of 1.97. The firm has a market cap of £2.12 billion, a price-to-earnings ratio of 86.99 and a beta of 1.11. The company’s 50 day simple moving average is GBX 200.38 and its two-hundred day simple moving average is GBX 204.53.

Helios Towers Company Profile

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.