Mears Group (LON:MER) to Buyback 0 Stock

Key Points

• The Board approved a stock repurchase plan authorizing open‑market buybacks but the notice states it will buy back 0 outstanding shares, an apparent placeholder or nondisclosure of a specific quantity; buybacks typically signal management views the stock as undervalued.
• Mears trades at GBX 332.50 with a market cap of £274.01m and a P/E of 6.22, while analysts hold an average "Buy" rating and an average price target of GBX 503.50, implying notable analyst‑implied upside.

Mears Group (LON:MER - Get Free Report) declared that its Board of Directors has approved a stock repurchase plan on Wednesday, April 1st, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.

Mears Group Stock Performance

MER traded up GBX 5.50 during midday trading on Wednesday, reaching GBX 332.50. The company's stock had a trading volume of 111,013 shares, compared to its average volume of 252,062. The company has a current ratio of 0.79, a quick ratio of 0.92 and a debt-to-equity ratio of 157.98. The company has a fifty day simple moving average of GBX 350.65 and a 200 day simple moving average of GBX 348.48. The stock has a market cap of £274.01 million, a P/E ratio of 6.22, a PEG ratio of 0.68 and a beta of 0.31. Mears Group has a twelve month low of GBX 310 and a twelve month high of GBX 421.37.

Mears Group (LON:MER - Get Free Report) last issued its quarterly earnings results on Thursday, March 26th. The company reported GBX 55.70 EPS for the quarter. Mears Group had a return on equity of 23.94% and a net margin of 4.07%. Research analysts expect that Mears Group will post 32.5150732 earnings per share for the current year.

Wall Street Analysts Forecast Growth

MER has been the subject of a number of analyst reports. Panmure Gordon restated a "buy" rating and issued a GBX 499 price objective on shares of Mears Group in a research note on Monday, December 8th. Berenberg Bank reiterated a "buy" rating and issued a GBX 565 target price on shares of Mears Group in a research note on Thursday, March 26th. Finally, Peel Hunt reiterated a "buy" rating and issued a GBX 440 target price on shares of Mears Group in a report on Monday, December 8th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of GBX 503.50.

Mears Group Company Profile

Mears Group plc, together with its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. The company offers rapid-response and planned maintenance services to local authorities; gas and repair services; and maintenance and repairs, capital works, energy investment, and regeneration solutions for public buildings, as well as grounds maintenance services. It provides housing management services, which include supply of affordable homes to public and private sectors; emergency and temporary accommodation services; affordable housing/social housing management; housing with care services; private rented sector; stock acquisition; mears housing solutions; and housing services to central government departments.

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