Emerson Radio Corp (MSN) Board Authorizes Stock Buyback Program
Emerson Radio Corp (NYSEMKT:MSN) announced that its board has authorized a stock buyback plan, which permits the company to buyback $5.00 million in outstanding shares on Tuesday, September 5th, EventVestor reports. This buyback authorization permits the company to repurchase up to 15.6% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.
Shares of Emerson Radio Corp (NYSEMKT MSN) opened at 1.30 on Friday. Emerson Radio Corp has a 52-week low of $0.69 and a 52-week high of $1.44. The firm’s 50-day moving average price is $1.24 and its 200 day moving average price is $1.29. The company’s market capitalization is $35.09 million.
Emerson Radio Corp (NYSEMKT:MSN) last issued its earnings results on Monday, August 14th. The company reported ($0.03) EPS for the quarter. The company had revenue of $3 million for the quarter. Emerson Radio Corp had a negative return on equity of 6.72% and a negative net margin of 29.66%. On average, equities analysts forecast that Emerson Radio Corp will post $0.22 earnings per share for the current year.
Separately, TheStreet cut Emerson Radio Corp from a “c” rating to a “d+” rating in a research report on Tuesday, July 18th.
About Emerson Radio Corp
Emerson Radio Corp. designs, sources, imports and markets a range of houseware and consumer electronic products. The Company also licenses its trademarks for a range of products around the world. Its product and branded categories consist of Houseware Products, which include microwave ovens and compact refrigerators; Audio Products, including clock radios, and Other, which consists of televisions, mobile and landline telephones and accessories, tablet computers and accessories, cameras and video cameras and accessories, and miscellaneous electronic and novelty products.
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