Mitie Group (LON:MTO) Releases Earnings Results

Mitie Group (LON:MTO - Get Free Report) announced its quarterly earnings results on Thursday. The company reported GBX 12.70 ($0.17) earnings per share (EPS) for the quarter, Digital Look Earnings reports. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%.

Mitie Group Trading Down 13.2%

MTO traded down GBX 21 ($0.29) during trading on Thursday, reaching GBX 138.60 ($1.88). 14,960,798 shares of the company's stock were exchanged, compared to its average volume of 4,482,611. Mitie Group has a one year low of GBX 101 ($1.37) and a one year high of GBX 160 ($2.17). The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. The stock has a market capitalization of £1.75 billion, a PE ratio of 14.41, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The firm has a fifty day moving average price of GBX 139.87 and a two-hundred day moving average price of GBX 122.35.

Mitie Group announced that its board has authorized a share buyback program on Wednesday, April 16th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank boosted their target price on shares of Mitie Group from GBX 160 ($2.17) to GBX 165 ($2.24) and gave the stock a "buy" rating in a report on Wednesday, April 16th.

Insiders Place Their Bets

In other news, insider Derek Mapp purchased 8,571 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were purchased at an average price of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,384.91). Insiders have acquired 8,797 shares of company stock valued at $1,015,714 in the last ninety days. 5.65% of the stock is currently owned by insiders.

Mitie Group Company Profile

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.