Mitie Group (LON:MTO) Shares Down 13.2% - Should You Sell?

Shares of Mitie Group plc (LON:MTO - Get Free Report) fell 13.2% during mid-day trading on Thursday . The company traded as low as GBX 137.83 ($1.87) and last traded at GBX 138.60 ($1.88). 14,960,798 shares were traded during mid-day trading, an increase of 234% from the average session volume of 4,482,611 shares. The stock had previously closed at GBX 159.60 ($2.17).

Analyst Ratings Changes

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

Mitie Group Price Performance

The business has a fifty day moving average of GBX 139.87 and a two-hundred day moving average of GBX 122.35. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. The firm has a market capitalization of £1.75 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41.

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

Mitie Group declared that its Board of Directors has approved a share repurchase plan on Wednesday, April 16th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling at Mitie Group

In related news, insider Derek Mapp acquired 8,571 shares of the company's stock in a transaction on Tuesday, April 1st. The stock was purchased at an average cost of GBX 115 ($1.56) per share, with a total value of £9,856.65 ($13,384.91). Insiders have bought a total of 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 corporate 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.