Morningstar (MORN) Declares Stock Repurchase Program
Morningstar (NASDAQ:MORN) declared that its board has initiated a share buyback program, which authorizes the company to buyback $500.00 million in shares on Friday, December 8th, EventVestor reports. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.
Separately, BidaskClub raised shares of Morningstar from a “buy” rating to a “strong-buy” rating in a research note on Monday, August 14th.
Shares of Morningstar (NASDAQ:MORN) traded down $1.26 during mid-day trading on Friday, hitting $92.53. 53,606 shares of the stock traded hands, compared to its average volume of 42,140. Morningstar has a 52 week low of $68.43 and a 52 week high of $95.07. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.69 and a current ratio of 1.69. The stock has a market capitalization of $3,988.86, a P/E ratio of 35.66 and a beta of 0.78.
Morningstar Company Profile
Morningstar, Inc is a provider of independent investment research in North America, Europe, Australia, and Asia. The Company focuses to create products that help investors reach their financial goals. It offers a range of data, software, research, and investment management offerings for financial advisors, asset managers, sponsors, and individual investors.
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