Chegg Announces New $150M Accelerated Share Repurchase
Portfolio Pulse from Benzinga Newsdesk
Chegg, Inc. has announced a new $150 million accelerated share repurchase (ASR) agreement to buy back its shares, signaling confidence in the company's future and potentially increasing its earnings per share by reducing the number of shares outstanding.

November 15, 2023 | 11:48 am
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Chegg's new $150M ASR agreement is likely to be viewed positively by investors as it reflects management's confidence in the company's prospects and may lead to a higher EPS.
Accelerated share repurchase programs are often interpreted as a sign of self-assurance from a company's management regarding its financial health and future outlook. By reducing the number of shares outstanding, Chegg is likely to increase its earnings per share, which can be attractive to investors and may lead to a short-term increase in the stock price.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100