Helen of Troy Limited (HELE) to Repurchase $400.00 million in Shares

Helen of Troy Limited (HELE) to Repurchase $400.00 million in   Shares

Helen of Troy Limited (NASDAQ:HELE) declared that its Board of Directors has approved a stock repurchase plan, which permits the company to buyback $400.00 million in outstanding shares on Monday, May 15th, EventVestor reports. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Shares of Helen of Troy Limited (NASDAQ HELE) traded up 1.61% during trading on Friday, reaching $94.90. 172,168 shares of the company’s stock were exchanged. The company has a 50 day moving average of $93.15 and a 200 day moving average of $91.66. Helen of Troy Limited has a 12-month low of $77.50 and a 12-month high of $106.18. The stock has a market cap of $2.57 billion, a P/E ratio of 18.83 and a beta of 0.98.

Helen of Troy Limited (NASDAQ:HELE) last released its quarterly earnings results on Thursday, April 27th. The company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.15. The business had revenue of $376.70 million for the quarter, compared to the consensus estimate of $379.11 million. Helen of Troy Limited had a net margin of 7.41% and a return on equity of 19.24%. The business’s revenue was down 2.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.03 EPS. Equities research analysts anticipate that Helen of Troy Limited will post $6.67 EPS for the current year.

Several equities analysts recently commented on HELE shares. Zacks Investment Research downgraded shares of Helen of Troy Limited from a “buy” rating to a “hold” rating in a report on Tuesday, March 7th. Sidoti restated a “buy” rating and issued a $108.00 target price (down from $112.00) on shares of Helen of Troy Limited in a research note on Saturday, April 29th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $102.75.

In other news, VP Richard J. Oppenheim sold 1,058 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $95.40, for a total value of $100,933.20. Following the sale, the vice president now directly owns 756 shares of the company’s stock, valued at approximately $72,122.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gary B. Abromovitz sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 9th. The shares were sold at an average price of $94.76, for a total transaction of $284,280.00. Following the completion of the sale, the director now directly owns 8,743 shares in the company, valued at $828,486.68. The disclosure for this sale can be found here. 0.47% of the stock is currently owned by insiders.

About Helen of Troy Limited

Helen Of Troy Limited is a global consumer products company that offers a range of solutions for its customers through a range of brands. The Company is a global designer, developer, importer, marketer and distributor of a portfolio of brand-name consumer products. The Company has four segments. The Housewares segment provides a range of consumer products for the home.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:HELE”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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