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

Shares of Helios Towers plc (LON:HTWS) fell 1.4% on Thursday. The company traded as low as GBX 213.80 and last traded at GBX 216.40. Approximately 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.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Jefferies Financial Group reissued a “buy” rating and issued a GBX 285 price objective on shares of Helios Towers in a research note on Wednesday, July 29th. Berenberg Bank raised their target price on Helios Towers from GBX 275 to GBX 295 and gave the company 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, Helios Towers has a consensus rating of “Buy” and a consensus price target of GBX 283.33.

Helios Towers Trading Down 1.4%

The company has a quick ratio of 1.97, a current ratio of 1.22 and a debt-to-equity ratio of 5,608.54. The business’s fifty day moving average is GBX 204.79 and its two-hundred day moving average is GBX 207.35. The firm has a market cap of £2.19 billion, a price-to-earnings ratio of 90.17 and a beta of 1.11.

Helios Towers declared that its Board of Directors has approved a share buyback plan on Thursday, September 17th that permits the company to repurchase $175.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 8.3% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board 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.