As earnings season winds down, traders can tap into these buyback champions that are shrinking their share count, and are beloved on Wall Street. More than 460 companies in the S & P 500, or roughly 92%, have reported earnings, according to FactSet. Of those, 78% reported a positive surprise. For investors, that means the buyback window is reopening, as companies usually wait a few days after they've reported results to repurchase their own stock.
Pro screened for buyback champions that are shrinking their share count, and are considered buying opportunities by analysts. These are their characteristics. Common shares outstanding are down at least 2% over the past year Total debt as a percentage of capital is 50% or less Buy ratings from at least 55% of analysts covering them With this in mind, here are 11 names that surfaced. Facebook-parent Meta Platforms came up on the list. Common shares outstanding are down 5.
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Source: Reuters - 🏆 2. / 97 Read more »