American Eagle (AEO) announced that it has entered into an accelerated share repurchase agreement with Bank of America, N.A. to repurchase $200M of its common stock. This equates to approximately 18.1M shares, at the closing price on March 14 and represents approximately 9.5% of the company’s fully diluted outstanding stock. The company intends to complete the ASR in connection with its existing share repurchase authorization of 68.5M shares.
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- Shares of American Eagle Outfitters (AEO) Fall After It Closes Fiscal Year with Record Revenue and Profit Growth
- American Eagle price target lowered to $13 from $18 at BofA
- American Eagle Outfitters Reports Record Revenue Amid Challenges
- American Eagle price target lowered to $12 from $18 at Telsey Advisory
- American Eagle price target lowered to $15 from $19 at BMO Capital
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