EBay Inc (NASDAQ:EBAY) late Monday announced it has authorized additional repurchases under its existing share repurchase program.
What Happened: In a regulatory filing late Monday, EBay announced that its board authorized an incremental $3 billion buyback on Dec. 12. The buyback will be added to the company's previously authorized repurchase plans and has no expiration.
EBay said it repurchased $750 million of its common stock, or approximately 13 million shares, in the third quarter. The company's total repurchase authorization remaining as of Sept 30 was approximately $1.2 billion.
JMP Securities analyst Patrick Walravens reiterated EBay with a Market Perform rating on Monday.
Is EBAY A Good Stock To Buy?
When deciding whether to buy a stock, there are some key fundamentals investors may want to consider. One of these factors is revenue growth. Buying a stock is essentially a bet that the business will continue to grow and generate profits in the future.
It's also important to pay attention to valuation when deciding whether to buy a stock. EBay has a forward P/E ratio of 12.14. This means investors are paying $12.14 for each dollar of expected earnings in the future. The average forward P/E ratio of eBay's peers is 33.61.
Other important metrics to look at include a company's profitability, balance sheet, performance relative to a benchmark index and valuation compared to peers. For in-depth analysis tools and important financial data, check out Benzinga PRO.
EBAY Price Action: EBay shares are up approximately 45% year-to-date. The stock was up 0.42% at $63.91 at the time of publication Tuesday, according to Benzinga Pro.
Photo: courtesy of EBay.
