Finish Line (FINL) Announces New Share Repurchase Program

Finish Line (FINL) will initiate a new 5 million share repurchase program once the current 600,000 share plan is complete.
By Annie Palmer ,

NEW YORK (TheStreet) -- Shares of Finish Line (FINL)  are up 1.83% to $22.21 this afternoon, as the company approved a new 5 million share repurchase program today.

Finish Line's new program will initiate once the current plan is completed, MarketWatch reports. The current plan has about 600,000 shares remaining. 

The Indianapolis-based athletic retailer also announced a quarterly dividend of 0.10 per share of outstanding common stock. The dividend will be paid out on September 12 to shareholders of record as of August 26. 

Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author. TheStreet Ratings has this to say about the recommendation:

We rate FINISH LINE INC as a Hold with a ratings score of C. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including a generally disappointing performance in the stock itself, deteriorating net income and disappointing return on equity.

You can view the full analysis from the report here: FINL

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