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Zebra Technologies (ZBRA) Authorizes $1B Share Buyout Program
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Zebra Technologies Corporation (ZBRA - Free Report) yesterday announced rewards for shareholders in the form of share buyback authorization. We believe that the repurchase program is in sync with its commitment to rewarding shareholders handsomely.
The company’s shares gained 4.6% yesterday to eventually close the trading session at $344.58.
Details on Share Buyback Programs
Under the buyback program, Zebra has been authorized by its board of directors to repurchase shares worth $1 billion. The buyback can be carried out in the open market or through privately negotiated transactions, subject to market conditions and other factors. This program has no expiration date.
It’s worth mentioning that in July 2019, the company authorized a share repurchase program for up to a total amount of $1 billion of its outstanding shares. With the new share repurchase authorization, ZBRA is left to repurchase shares worth about $1.2 billion in aggregate, including $200 million available under its previously approved share buyback program.
Sound Capital Allocation Strategies
Zebra follows sound capital allocation strategies, aiming to improve value for shareholders. Notably, from the beginning of this year till Apr 29, 2022, the company repurchased shares worth $413 million.
Zacks Rank, Price Performance and Estimate Revisions
Zebra, with approximately $18.1 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is poised to benefit from robust demand for its products and solutions, acquired assets and strong cash flows in the quarters ahead. However, it has been dealing with the adverse impacts of high cost of sales and operating expenses over time.
Image Source: Zacks Investment Research
In the past three months, the company’s share price has decreased 18% compared with the industry’s decline of 19%.
The Zacks Consensus Estimate for Zebra’s earnings is pegged at $19.03 for 2022, down 3.7% from the 30-day-ago figure. The consensus estimate for 2023 earnings stands at $21.72, down 1.8% over the same time frame.
Stocks to Consider
Some better-ranked companies from the Zacks Industrial Products sector are discussed below.
In the past 30 days, AZZ’s earnings estimates have increased 12.6% for fiscal 2023 (ending February 2023). Its shares have lost 8.9% in the past three months.
Regal Rexnord Corporation (RRX - Free Report) presently has a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 5.4%, on average.
In the past 30 days, Regal Rexnord’s earnings estimates have increased 1.5% for 2022. Its shares have lost 19.3% in the past three months.
ACCO Brands Corporation (ACCO - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 22.19%, on average.
In the past 30 days, ACCO’s earnings estimates have increased 1.3% for 2022. Its shares have lost 15.2% in the past three months.
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Zebra Technologies (ZBRA) Authorizes $1B Share Buyout Program
Zebra Technologies Corporation (ZBRA - Free Report) yesterday announced rewards for shareholders in the form of share buyback authorization. We believe that the repurchase program is in sync with its commitment to rewarding shareholders handsomely.
The company’s shares gained 4.6% yesterday to eventually close the trading session at $344.58.
Details on Share Buyback Programs
Under the buyback program, Zebra has been authorized by its board of directors to repurchase shares worth $1 billion. The buyback can be carried out in the open market or through privately negotiated transactions, subject to market conditions and other factors. This program has no expiration date.
It’s worth mentioning that in July 2019, the company authorized a share repurchase program for up to a total amount of $1 billion of its outstanding shares. With the new share repurchase authorization, ZBRA is left to repurchase shares worth about $1.2 billion in aggregate, including $200 million available under its previously approved share buyback program.
Sound Capital Allocation Strategies
Zebra follows sound capital allocation strategies, aiming to improve value for shareholders. Notably, from the beginning of this year till Apr 29, 2022, the company repurchased shares worth $413 million.
Zacks Rank, Price Performance and Estimate Revisions
Zebra, with approximately $18.1 billion market capitalization, currently carries a Zacks Rank #3 (Hold). The company is poised to benefit from robust demand for its products and solutions, acquired assets and strong cash flows in the quarters ahead. However, it has been dealing with the adverse impacts of high cost of sales and operating expenses over time.
Image Source: Zacks Investment Research
In the past three months, the company’s share price has decreased 18% compared with the industry’s decline of 19%.
The Zacks Consensus Estimate for Zebra’s earnings is pegged at $19.03 for 2022, down 3.7% from the 30-day-ago figure. The consensus estimate for 2023 earnings stands at $21.72, down 1.8% over the same time frame.
Stocks to Consider
Some better-ranked companies from the Zacks Industrial Products sector are discussed below.
AZZ Inc. (AZZ - Free Report) presently flaunts a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here. Its earnings surprise in the last four quarters was 22.3%, on average.
In the past 30 days, AZZ’s earnings estimates have increased 12.6% for fiscal 2023 (ending February 2023). Its shares have lost 8.9% in the past three months.
Regal Rexnord Corporation (RRX - Free Report) presently has a Zacks Rank #2 (Buy). Its earnings surprise in the last four quarters was 5.4%, on average.
In the past 30 days, Regal Rexnord’s earnings estimates have increased 1.5% for 2022. Its shares have lost 19.3% in the past three months.
ACCO Brands Corporation (ACCO - Free Report) presently carries a Zacks Rank #2. Its earnings surprise in the last four quarters was 22.19%, on average.
In the past 30 days, ACCO’s earnings estimates have increased 1.3% for 2022. Its shares have lost 15.2% in the past three months.