Guzman Share Repurchase Report - March 2017
Guzman & Company’s Investment Banking team released its Share Repurchase Update for March 2017.
Summary: March may have brought the Vernal (Spring) Equinox, but it didn’t spring large volumes of new share repurchase authorizations. The biggest buyback announced was Verizon’s 100M share (~$5BN) authorization. The Cyclical Consumer sector was the most active with Best Buy and VF Corp each with a $5BN plan announcement. Other notable announcements came from ConocoPhillips ($3BN) and General Dynamics (10M shares/~$1.9BN). On long-term corporate share repurchase trends, tax reform in Washington could be a major influencer but based on recent Treasury Secretary Mnuchin comments, it appears that we’ll have to wait until the Fall, at the earliest, to see what that may look like.
Read full analysis here: Monthly Share Repurchase Update March 2017(2).pdf