Rolls-Royce soars after SAS engine win, putting buyback math in focus
Rolls-Royce Holdings plc was up 1.44% at 1,465.40p by 13:40 BST on Wednesday, having traded about 4.4% under last week’s 52-week high of 1,532.60p. Google Finance showed its market cap at £122.37 billion. The key question for investors is shifting from whether the stock has room to rise to how much more of its own stock Rolls-Royce can buy back after this stretch. On Wednesday, the company reported it bought 4,007,376 shares between June 23 and June 29, paying an average of about 1,409p each, spending roughly £56.5 million in cash. Since rolling out the £2.3 billion buyback on Feb. 26, Rolls-Royce has snapped up 74,601,999 shares at an average price of 1,212.92p.