Share Buyback Plan Declared by Dingdong (Cayman) (NYSE:DDL) Board of Directors

Dingdong (Cayman) (NYSE:DDL) declared that its Board of Directors has authorized a stock buyback program on Thursday, March 6th, RTT News reports. The company plans to buyback $20.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 2.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its stock is undervalued.

Dingdong (Cayman) Price Performance

Shares of Dingdong (Cayman) stock opened at $3.36 on Friday. The company’s fifty day simple moving average is $3.38 and its 200-day simple moving average is $3.41. The stock has a market capitalization of $792.54 million, a PE ratio of 37.28 and a beta of 0.44. Dingdong has a 1-year low of $1.08 and a 1-year high of $4.79.

Dingdong (Cayman) (NYSE:DDL) last released its earnings results on Thursday, March 6th. The company reported $0.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.02. Dingdong (Cayman) had a net margin of 0.90% and a return on equity of 40.86%. The company had revenue of $808.99 million for the quarter, compared to analysts’ expectations of $798.85 million. As a group, research analysts anticipate that Dingdong will post 0.07 EPS for the current year.

About Dingdong (Cayman)

Dingdong (Cayman) Limited operates an e-commerce company in China. The company offers fresh groceries, including vegetables, meat and eggs, fruits, and seafood; prepared food, and other food products, such as baked goods, dairy, seasonings, beverages, instant food, oil, and snacks. It offers its products through traditional offline, as well as online channels through Dingdong Fresh app, mini-programs, and third-party platforms.