Berenberg Bank Issues Positive Forecast for Mitie Group (LON:MTO) Stock Price

Key Points

• Berenberg Bank has raised its price target for Mitie Group from GBX 165 ($2.19) to GBX 175 ($2.33), indicating a potential upside of 19.20% from the current stock price.
• Mitie Group reported an earnings per share (EPS) of GBX 12.70 ($0.17) for the last quarter, with analysts forecasting an EPS of approximately 10.93 for the current year.
• Insiders at Mitie Group purchased 155,703 shares of the company's stock in the last quarter, indicating a belief that the stock is potentially undervalued.

Mitie Group (LON:MTO - Get Free Report) had its price objective boosted by equities researchers at Berenberg Bank from GBX 165 ($2.22) to GBX 175 ($2.35) in a research report issued on Monday, MarketBeat.com reports. The firm presently has a "buy" rating on the stock. Berenberg Bank's price target points to a potential upside of 20.36% from the stock's previous close.

Mitie Group Stock Up 1.7%

Mitie Group stock traded up GBX 2.40 ($0.03) during midday trading on Monday, reaching GBX 145.40 ($1.96). The stock had a trading volume of 7,047,154 shares, compared to its average volume of 4,554,242. The company has a fifty day moving average price of GBX 142.07 and a two-hundred day moving average price of GBX 131.98. Mitie Group has a 12 month low of GBX 101 ($1.36) and a 12 month high of GBX 160 ($2.15). The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. The company has a market capitalization of £1.83 billion, a P/E ratio of 15.11, a PEG ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO - Get Free Report) last announced its quarterly earnings results on Thursday, June 5th. The company reported GBX 12.70 ($0.17) EPS for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. As a group, equities analysts expect that Mitie Group will post 10.9360519 EPS for the current fiscal year.

Mitie Group announced that its Board of Directors has initiated a stock buyback program on Wednesday, April 16th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Activity

In other Mitie Group news, insider Derek Mapp bought 7,235 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were purchased at an average price of GBX 141 ($1.90) per share, for a total transaction of £10,201.35 ($13,718.87). Also, insider Christopher Rogers bought 144,000 shares of Mitie Group stock in a transaction dated Friday, June 6th. The stock was acquired at an average cost of GBX 137 ($1.84) per share, with a total value of £197,280 ($265,303.93). In the last 90 days, insiders have bought 155,703 shares of company stock worth $21,379,029. 5.65% of the stock is owned by insiders.

Mitie Group Company Profile

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.