JD.Com Inc (ADR) (NASDAQ:JD), China’s largest online direct sales company, today announced that its Board of Directors has authorized a share repurchase program under which the Company may repurchase up toUS$1.0 billion worth of its American depositary shares (“ADSs”) over the next 24 months.
The Company’s proposed repurchases may be made from time to time on the open market at prevailing market prices, in negotiated transactions off the market, in block trades or through other legally permissible means. The timing and extent of any purchases will depend upon market conditions, the trading price of its ADSs and other factors, and are subject to the restrictions relating to volume, price and timing under applicable law. JD.com expects to implement this share repurchase program in a manner consistent with market conditions and the interests of the Company’s shareholders. JD.com’s Board of Directors will review the share repurchase program periodically, and may authorize adjustment of its terms and size accordingly. JD.com plans to fund repurchases made under this program from its available cash balance. (Original Source)
Shares of JD.com Inc closed last Friday at $22.81 . JD has a 1-year high of $38 and a 1-year low of $21.55. The stock’s 50-day moving average is $29.36 and its 200-day moving average is $31.62.
On the ratings front, JD.com has been the subject of a number of recent research reports. In a report issued on August 10, Morgan Stanley analyst Robert Lin downgraded JD to Hold, with a price target of $35, which represents a potential upside of 53.4% from where the stock is currently trading. Separately, on August 4, Tiger Hill Capital’s Tian Hou assigned a Buy rating to the stock and has a price target of $39.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Robert Lin and Tian Hou have a total average return of -21.7% and -12.0% respectively. Lin has a success rate of 16.7% and is ranked #3462 out of 3747 analysts, while Hou has a success rate of 30.8% and is ranked #3544.
JD.com Inc is an online direct sales company in China. The Company acquires products from suppliers and sell them directly to its customers through its website and mobile applications.