M&G (LON:MNG) Stock Price Up 2.2% - What's Next?

Key Points

• M&G plc's share price increased by 2.2% on Wednesday, trading as high as GBX 262.10 ($3.50), despite a significant decline in trading volume.
• Several brokerages have recently upgraded their ratings for M&G, with JPMorgan Chase raising their price target from GBX 290 to GBX 305 and Berenberg Bank moving to a "buy" rating with a target of GBX 342.
• M&G reported earnings per share of GBX 10.10 for the last quarter, with an anticipated full-year EPS of approximately 24.25, indicating modest profitability.

M&G plc (LON:MNG - Get Free Report)'s share price shot up 2.2% during trading on Wednesday . The stock traded as high as GBX 262.10 ($3.50) and last traded at GBX 261.60 ($3.49). 5,904,803 shares were traded during trading, a decline of 68% from the average session volume of 18,403,273 shares. The stock had previously closed at GBX 256 ($3.42).

Analyst Ratings Changes

A number of brokerages have recently issued reports on MNG. JPMorgan Chase & Co. upped their price objective on shares of M&G from GBX 290 to GBX 305 and gave the company an "overweight" rating in a research note on Thursday, July 17th. Berenberg Bank raised M&G to a "buy" rating and raised their price objective for the company from GBX 225 to GBX 342 in a research report on Friday, October 10th. Citigroup upped their price target on M&G from GBX 214 to GBX 260 and gave the stock a "neutral" rating in a research note on Tuesday, July 29th. Royal Bank Of Canada upped their target price on shares of M&G from GBX 240 to GBX 265 and gave the stock a "sector perform" rating in a research note on Tuesday, September 9th. Finally, UBS Group restated a "buy" rating and set a GBX 275 target price on shares of M&G in a research note on Friday, August 15th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat, M&G has an average rating of "Moderate Buy" and a consensus target price of GBX 278.67.

M&G Stock Up 2.2%

The company has a debt-to-equity ratio of 218.70, a current ratio of 0.40 and a quick ratio of 0.39. The business has a fifty day moving average of GBX 258.35 and a 200-day moving average of GBX 242.32. The stock has a market cap of £6.20 billion, a PE ratio of -104.64, a price-to-earnings-growth ratio of -2.76 and a beta of 1.47.

M&G (LON:MNG - Get Free Report) last released its quarterly earnings data on Wednesday, September 3rd. The company reported GBX 10.10 earnings per share for the quarter. M&G had a return on equity of 4.31% and a net margin of 1.85%. Equities research analysts anticipate that M&G plc will post 24.2485207 earnings per share for the current 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.

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