6 big stock buybacks: Twilio to repurchase $1B | Pro Recap

By Davit Kirakosyan

Investing.com -- Here is your weekly Pro Recap of the biggest buyback headlines you may have missed on InvestingPro. Start your free 7-day trial to get this news first.

Twilio authorizes $1 billion

Twilio (NYSE:TWLO) announced a share repurchase program of up to $1 billion of its outstanding Class A common stock.

Shares surged more than 14% on Thursday after the company reported its Q4 results, with EPS/revenue of $0.22/$1.02B beating the consensus estimates of ($0.08)/$1B.

Shares gained more than 17% this week.

Citizens Financial's $1.15B buyback expansion

Citizens Financial (NYSE:CFG) announced a $1.15B increase in its common share repurchase program. This is incremental to the $850M of capacity remaining as of December 31, 2022 under the prior June 2022 authorization, of which $400M will be utilized during Q1/23.

4 more share buybacks

Check Point Software Technologies (NASDAQ:CHKP) said on Monday that it would up its ongoing share-repurchase program by $2B, as discussed in last week's recap.

Also on Monday, the company issued better-than-expected earnings for Q4.

Nutrien's (NYSE:NTR) Board of Directors approved the purchase of up to 5% of its issued and outstanding common shares over a 12-month period through a normal course issuer bid (NCIB).

The company also hiked its dividend by 10.4% to $0.53 per share, for an annual yield of 2.8%, and its Q4 results Wednesday missed on EPS while beating on the top line. The company also cut its fiscal 2023 EPS outlook.

Shares fell more than 6% this week.

Wabtec (NYSE:WAB) announced a $750M share buyback reauthorization and hiked its dividend by 13.3% to $0.17 per share, or $0.68 annualized, for an annual yield of 0.7%.

The company reported its Q4 results on Wednesday, with both EPS and revenues coming in better than the consensus estimates.

The Trade Desk (NASDAQ:TTD) announced a share repurchase program of up to $700M of its Class A common stock.

Shares jumped more than 32% on Wednesday after the company reported its Q4 results, highlighted by an EPS beat, record quarterly revenues and better-than-expected Q1 guidance.

Shares closed nearly 24% higher for the week.

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