M&G (LON:MNG) Shares Down 0.6% - What's Next?

Key Points

• Shares fell 0.6% midday to GBX 300.08 on Wednesday, with about 2.84 million shares trading — a roughly 94% decline versus the stock's average daily volume.
• Analyst sentiment is a consensus "Hold" with an average price target of GBX 308; there are two Buy and four Hold ratings, with top targets including GBX 342 (Berenberg) and GBX 328 (Goldman).
• Key fundamentals: market capitalization £7.15 billion and a P/E of 24.40; M&G reported quarterly EPS of GBX 12.60 and analysts forecast roughly 24.25 EPS for the current fiscal year.

M&G plc (LON:MNG - Get Free Report)'s stock price was down 0.6% during mid-day trading on Wednesday . The company traded as low as GBX 298.10 and last traded at GBX 300.08. Approximately 2,844,268 shares traded hands during trading, a decline of 94% from the average daily volume of 45,839,578 shares. The stock had previously closed at GBX 301.90.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on MNG shares. Citigroup increased their target price on M&G from GBX 260 to GBX 288 and gave the company a "neutral" rating in a research report on Tuesday, March 24th. Royal Bank Of Canada raised their price objective on M&G from GBX 260 to GBX 285 and gave the company a "sector perform" rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. decreased their price objective on M&G from GBX 320 to GBX 315 and set a "neutral" rating on the stock in a report on Thursday, March 26th. The Goldman Sachs Group raised their price objective on M&G from GBX 300 to GBX 328 and gave the company a "buy" rating in a report on Wednesday, January 21st. Finally, Berenberg Bank reissued a "buy" rating and set a GBX 342 price objective on shares of M&G in a research report on Monday, February 9th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of GBX 308.

M&G Stock Performance

The business has a 50-day moving average of GBX 295.38 and a 200-day moving average of GBX 287.54. The stock has a market capitalization of £7.15 billion, a price-to-earnings ratio of 24.40, a P/E/G ratio of -2.76 and a beta of 0.95.

M&G (LON:MNG - Get Free Report) last issued its quarterly earnings data on Thursday, March 12th. The company reported GBX 12.60 earnings per share (EPS) for the quarter. M&G had a return on equity of 9.49% and a net margin of 1.73%. Equities analysts predict that M&G plc will post 24.2485207 earnings per share for the current fiscal year.

M&G Company Profile

M&G plc is a leading savings and investments business, managing investments for both individuals and for large institutional investors, such as pension funds, around the world. We have a single corporate identity, M&G plc, and two customer-facing brands: Prudential and M&G Investments. Prudential offers savings and insurance for customers in the UK and Europe and for asset management in South Africa. M&G Investments manages assets for clients globally. With roots stretching back more than 170 years, we have a long history of finding innovative solutions for our customers' changing needs.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.