Dingdong (Cayman) (NYSE:DDL) Initiates Stock Buyback Plan

Dingdong (Cayman) (NYSE:DDL - Get Free Report) announced that its Board of Directors has approved a stock repurchase program on Thursday, March 6th, RTT News reports. The company plans to buyback $20.00 million in shares. This buyback authorization allows the company to buy up to 2.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.

Dingdong (Cayman) Trading Down 8.5 %

Shares of DDL traded down $0.29 on Monday, reaching $3.07. 1,120,860 shares of the company's stock were exchanged, compared to its average volume of 666,938. The business has a 50 day moving average price of $3.37 and a two-hundred day moving average price of $3.44. Dingdong has a 12 month low of $1.08 and a 12 month high of $4.79. The stock has a market capitalization of $724.04 million, a P/E ratio of 34.06 and a beta of 0.44.

Dingdong (Cayman) (NYSE:DDL - Get Free Report) last posted its quarterly 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 return on equity of 40.86% and a net margin of 0.90%. The company had revenue of $808.99 million for the quarter, compared to the consensus estimate of $798.85 million. Equities research analysts predict 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.