Share repurchases can be a great thing for investors. As such, monitoring companies that buy back their shares regularly can be a way to source for investment ideas. On that note, let’s look at three businesses that have repurchased their shares thus far during the week, as of market open today.
Boustead Singapore Limited (SGX: F9D)
Boustead Singapore, which was established in 1828, is a global service provider of infrastructure-related engineering services, geo-spatial and healthcare technology. On 17, 18 and 19 June 2019, the conglomerate repurchased a total of 1,096,700 shares at S$0.77 per share. The total cost came up to slightly below S$846,200.
For its fiscal year ended 31 March 2019, Boustead Singapore’s revenue grew 22% year-on-year to S$470.6 million, but net profit (after adjusting for one-off items) fell 2% to S$29.8 million. For more on the company’s latest earnings, you can check out the coverage here.
Boustead Singapore’s shares closed at S$0.77 on Thursday. At that price, it traded at a price-to-earnings (PE) ratio of 11 and a dividend yield of 3.9%.
Nordic Group Ltd (SGX: MR7)
Nordic provides services such as automation system integration, scaffolding, and vessel maintenance, among other things, to the oil and gas industry. On 19 June, Nordic bought back 130,500 shares at a price range of between S$0.285 and S$0.29 apiece. The company spent S$37,500 on the share buyback exercise.
Nordic’s 2019 first-quarter was dismal with revenue falling 14% and earnings dropping 40%. The decline in the top-line came on the back of lower sales at its Project Services business segment as a result of lesser projects handled.
Nordic’s shares closed at S$0.30 each on Thursday, translating to a PE ratio of 10 and a dividend yield of 5.5%.
Keppel REIT (SGX: K71U)
Keppel REIT is a commercial real estate investment trust (REIT) with assets mainly in Singapore and Australia. On 19 and 20 June, the REIT’s manager repurchased 1,800,000 shares at S$1.26 apiece, translating to a total cost of around S$2.27 million.
For its first quarter of 2019, Keppel REIT’s property income and net property income inched up by 0.7% and 0.3%, respectively, year-on-year. However, its distribution per unit tumbled 2.1% to 1.39 Singapore cents. You can jump in here to find out more about Keppel REIT’s latest results.
Units of Keppel REIT ended Thursday at S$1.25 each. At that price, it was selling at a price-to-book ratio of 0.9 and had a distribution yield of 4.4%.
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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. The Motley Fool Singapore has recommended shares of Boustead Singapore Limited. Motley Fool Singapore contributor Sudhan P owns shares in Boustead Singapore Limited.