Business
Why the Downer (ASX:DOW) share price will be on focus this morning
The Downer EDI Limited (ASX: DOW) share price could be on the move this morning. This comes after the company advised the ASX that it plans to conduct an on-market buy-back.
At yesterday’s market close, the integrated services company’s shares finished the day at $5.32.
Downer buy-back program
Downer shares could push higher today as investors weigh up the company’s latest positive announcement.
In its release, Downer advised that it will conduct an on-market buy-back of up to 70.1 million shares. This represents roughly around 10% of the company’s outstanding shares.
Traditionally, when a company looks to purchase its own stock, this inflates its earnings per share (EPS) metric. Furthermore, the value of each share also…
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