- CACI International Inc (NYSE:CACI) has entered into an accelerated share repurchase agreement (ASR).
- Under the ASR, the company will repurchase $250 million of common stock under its previously announced $750 million share repurchase authorization.
- This equates to approximately 845,000 shares at the closing price on Jan. 27, 2023, representing approximately 3.6% of CACI’s shares.
- The company anticipates that all repurchases under the ASR will be completed by the end of August 2023.
- CACI now expects the fiscal year 2023 interest expense to be $80 million – $85 million and the diluted weighted average share count to be about 23.5 million.
- Given the timing of the ASR in the fiscal year, the company reiterated its prior adjusted net income and adjusted EPS guidance.
- The company held $114.7 million in cash and equivalents as of Dec. 31, 2022.
- Price Action: CACI shares are trading higher by 2.11% at $301.33 on the last check Monday.
Wedbush Maintains Outperform on Academy Sports, Raises Price Target to $57
Wedbush analyst Seth Basham maintains Academy Sports (NASDAQ:ASO) with a Outperform and raises the price target from $50 to $57.
