RWE Faces Growing Pressure to Buy Back Shares as Stock Slumps [Financial Post (Toronto, Ontario, Canada)]
RWE AG ORD S/ADR (RWEOY)
NASDAQ:AMEX Investor Relations:
rwe.com/web/cms/en/105818/rwe/investor-relations
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Source: Financial Post
Author of the article: (Bloomberg) — Analysts and activist investors are stepping up calls for German utility RWE AG to buy back shares and spin-off its lignite operations to bolster the company's depressed stock price. “RWE is one of the cheapest among renewable peers,” Bernstein analyst Deepa Venkateswaran said in a note Wednesday. A buyback “sends a strong signal to the market that the management believes that the stock is undervalued” and would have a greater impact on earnings than renewable energy investments, she added. Article content Article content The company — Germany's biggest power producer — has previously ruled out buybacks to focus on long-term growth and it has rejected a quick separation of its lignite and clean-energy units. However, its stock price has declined more than 20% since the start of the year. RWE reports 2023 results next week and holds its annual shareholder meeting in May, when it's poised to face tough questions from investors. Read More
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