Marks Electrical Group (LON:MRK) Given New GBX 51 Price Target at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group has reduced the price target for Marks Electrical Group from GBX 73 to GBX 51, maintaining a "buy" rating which suggests a potential upside of 2.51% from current levels.
• The company’s shares have dropped 19.8%, opening at GBX 49.75, with a recent 52-week low of GBX 48.
• Marks Electrical Group reported earnings per share of GBX (1.38) with a net margin of 0.37% in its latest quarterly earnings release.

Marks Electrical Group (LON:MRK - Get Free Report) had its target price reduced by equities researchers at Canaccord Genuity Group from GBX 73 to GBX 51 in a note issued to investors on Thursday,London Stock Exchange reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's price target indicates a potential upside of 2.51% from the stock's previous close.

Marks Electrical Group Stock Down 19.8%

Shares of LON:MRK opened at GBX 49.75 on Thursday. The company has a quick ratio of 0.62, a current ratio of 1.59 and a debt-to-equity ratio of 8.42. Marks Electrical Group has a 52-week low of GBX 48 and a 52-week high of GBX 63. The stock's fifty day simple moving average is GBX 60.07 and its 200-day simple moving average is GBX 59.18. The company has a market capitalization of £51.87 million, a P/E ratio of -3,605.07 and a beta of 0.73.

Marks Electrical Group (LON:MRK - Get Free Report) last issued its quarterly earnings data on Wednesday, June 25th. The company reported GBX (1.38) earnings per share (EPS) for the quarter. Marks Electrical Group had a net margin of 0.37% and a return on equity of 3.05%. As a group, equities research analysts forecast that Marks Electrical Group will post 3.5523979 earnings per share for the current fiscal year.

About Marks Electrical Group

Marks Electrical Group PLC, together with its subsidiary, engages in the supply of domestic electrical appliances and consumer electronics in the United Kingdom. The company also provides removal and recycling of packaging; collection and recycling of old appliances; and extended warranties and installation services.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.