IWG (LON:IWG) Stock Passes Below 50 Day Moving Average – What’s Next?

IWG plc (LON:IWG)’s share price crossed below its 50 day moving average during trading on Friday . The stock has a 50 day moving average of GBX 183.41 ($2.37) and traded as low as GBX 165.10 ($2.13). IWG shares last traded at GBX 167.60 ($2.16), with a volume of 104,938,844 shares changing hands.

IWG Price Performance

The company has a debt-to-equity ratio of 12,629.31, a current ratio of 0.41 and a quick ratio of 0.45. The company’s 50-day simple moving average is GBX 183.41 and its 200-day simple moving average is GBX 172.04. The stock has a market capitalization of £1.68 billion, a price-to-earnings ratio of -12.46, a P/E/G ratio of -5.59 and a beta of 2.10.

IWG Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, May 30th. Investors of record on Thursday, May 1st will be paid a $0.01 dividend. This represents a yield of 0.39%. This is a boost from IWG’s previous dividend of $0.00. The ex-dividend date is Thursday, May 1st. IWG’s dividend payout ratio (DPR) is -7.44%.

IWG announced that its board has authorized a stock buyback plan on Tuesday, March 4th that permits the company to buyback $50.00 million in outstanding shares. This buyback authorization permits the company to reacquire up to 2.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

About IWG

IWG plc, together with its subsidiaries, provides workspace solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers office, coworking and collaboration, flexible and scalable, meeting, and lounges spaces; workplace recovery; memberships workspaces; and reception services and conference products.