Repatriation of foreign earnings is likely to lead to
higher equity buybacks.
Not exact matches
If shares outstanding stop declining as
buyback activity recedes and net
equity issuance turns positive, it will put more onus on the numerator — the actual earnings — to propel earnings per share
higher.
But this year is on track to be even bigger: Birinyi has tracked $ 201 billion in
buyback announcements so far this year, the «record
highest» at this point in time compared to other years, Chris Costelloe an
equity trader there, said in an email.
Management has turned this seemingly sleepy business into one that generates
high margins, throws off lots of free cash flow for dividends and
buybacks, and provides returns on
equity in excess of 20 %.