Cross-Market Commentary: S&P 500 Stock Buybacks Have Done Little To Improve Prices In 2011 Aug 11
Standard & Poors, August 2011
Abstract
During the recent market retreat, market participants have become increasingly interested in the pace of equity buyback announcements. Recently, home improvement center Lowe's Cos. Inc. announced its intention to commence a share repurchase program, whereby the company plans to repurchase up to $5 billion worth of its shares either in the open market or through private transactions over the next two to three years. Using Capital IQ data, the Valuation and Risk Strategies (VRS) research team found that Lowe's program will mark the 50th stock buyback repurchase plan of $1 billion or more announced by an S&P 500 company so far this year. So far in 2011, the amount of S&P 500 announcements for repurchase has exceeded the 46 plans...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
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