ME Group International's (MEGP) Buy Rating Reiterated at Peel Hunt

Key Points

• Peel Hunt reiterated its buy rating on ME Group International and set a GBX 230 price target, implying nearly 98% upside from the prior close.
• Canaccord Genuity also maintained a buy rating with a GBX 220 target, and the broader analyst consensus remains Buy with an average target of GBX 225.
• The stock rose to GBX 116.24 on heavy trading volume, while the company reported recent EPS of GBX 6.79 and has initiated a share buyback program.

ME Group International (LON:MEGP - Get Free Report)'s stock had its "buy" rating reaffirmed by analysts at Peel Hunt in a research report issued to clients and investors on Monday,London Stock Exchange reports. They currently have a GBX 230 price objective on the stock. Peel Hunt's price target points to a potential upside of 97.87% from the company's previous close.

Separately, Canaccord Genuity Group restated a "buy" rating and set a GBX 220 target price on shares of ME Group International in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, ME Group International has an average rating of "Buy" and an average price target of GBX 225.

ME Group International Stock Performance

MEGP stock traded up GBX 12.84 during midday trading on Monday, hitting GBX 116.24. 15,610,252 shares of the company's stock were exchanged, compared to its average volume of 3,295,318. The stock's fifty day moving average price is GBX 120.55 and its 200-day moving average price is GBX 134.25. The company has a market cap of £435.49 million, a PE ratio of 7.80 and a beta of 0.49. ME Group International has a one year low of GBX 98.50 and a one year high of GBX 228.

ME Group International (LON:MEGP - Get Free Report) last announced its earnings results on Friday, July 3rd. The company reported GBX 6.79 EPS for the quarter. ME Group International had a net margin of 17.94% and a return on equity of 27.72%. On average, analysts expect that ME Group International will post 15.5344418 EPS for the current year.

ME Group International announced that its Board of Directors has initiated a share buyback program on Monday, March 23rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

ME Group International Company Profile

ME Group International plc LSE: MEGP is an international market leader in automated self-service equipment aimed at the consumer market, with over 49,000 vending units currently in operation. The Group operates, sells and services a wide range of instant-service vending equipment across 16 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific. The Group's services include: Core activities: • Photo.ME - Photobooths and integrated biometric identification solutions • Wash.ME - Unattended laundry services and launderettes Ancillary activities: • Print.ME - High-quality digital printing kiosks • Other vending - Primarily foodservice vending equipment (Feed.ME), Children's rides (Amuse.ME), Photocopier services (Copy.ME) The Group has a proven track record of innovation and diversification of its products and services, enabling it to respond to the evolving needs of its customers and consumers. The Group benefits from well-established partnerships and long-term contracts with major site owners in attractive, high-footfall locations, enabling it to offer multiple products and services onsite.

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