Mitie Group (LON:MTO) Stock Price Down 11% - What's Next?

Mitie Group plc (LON:MTO - Get Free Report) shares were down 11% on Thursday . The company traded as low as GBX 139.40 ($1.89) and last traded at GBX 142 ($1.93). Approximately 7,128,133 shares traded hands during trading, an increase of 62% from the average daily volume of 4,409,409 shares. The stock had previously closed at GBX 159.60 ($2.17).

Analyst Ratings Changes

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

Mitie Group Price Performance

The stock has a fifty day moving average of GBX 139.87 and a 200 day moving average of GBX 122.35. The stock has a market cap of £1.75 billion, a price-to-earnings ratio of 14.41, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83.

Mitie Group (LON:MTO - Get Free Report) last posted its quarterly earnings results on Thursday, June 5th. The company reported GBX 12.70 ($0.17) earnings per share (EPS) for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. On average, analysts expect that Mitie Group plc will post 10.9360519 EPS for the current fiscal year.

Mitie Group declared that its Board of Directors has initiated a stock buyback program on Wednesday, April 16th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Insider Activity at Mitie Group

In related news, insider Derek Mapp bought 8,571 shares of the 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 acquired 8,797 shares of company stock worth $1,015,714 over the last three months. Company insiders own 5.65% of the company's stock.

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.