M&G (LON:MNG) Trading 0.5% Higher - Here's Why

Key Points

• M&G plc's stock price increased by 0.5% during mid-day trading, reaching GBX 253 ($3.40) with a significant decline in trading volume compared to the average.
• Several analysts recently updated their target prices for M&G, with JPMorgan Chase raising their target to GBX 305, and an overall consensus price target of GBX 266.
• The company reported GBX 10.10 earnings per share in its last quarterly earnings, with analysts predicting an EPS of 24.25 for the current year.

M&G plc (LON:MNG - Get Free Report)'s stock price rose 0.5% during mid-day trading on Tuesday . The stock traded as high as GBX 253.50 ($3.41) and last traded at GBX 253 ($3.40). Approximately 6,969,955 shares changed hands during mid-day trading, a decline of 64% from the average daily volume of 19,303,633 shares. The stock had previously closed at GBX 251.70 ($3.38).

Wall Street Analyst Weigh In

MNG has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their target price on shares of M&G from GBX 290 to GBX 305 and gave the stock an "overweight" rating in a research report on Thursday, July 17th. Citigroup raised their price objective on shares of M&G from GBX 214 to GBX 260 and gave the company 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 report on Tuesday, September 9th. Finally, UBS Group reaffirmed a "buy" rating and issued a GBX 275 target price on shares of M&G in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of GBX 266.

M&G Trading Up 0.5%

The business has a 50 day moving average of GBX 259.48 and a 200-day moving average of GBX 237.38. The stock has a market cap of £5.99 billion, a PE ratio of -1,675.50, a price-to-earnings-growth ratio of -2.76 and a beta of 1.47. The company has a current ratio of 0.40, a quick ratio of 0.39 and a debt-to-equity ratio of 218.70.

M&G (LON:MNG - Get Free Report) last released its quarterly earnings results 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%. On average, analysts anticipate that M&G plc will post 24.2485207 EPS for the current year.

About M&G

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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