Mitie Group plc (LON:MTO - Get Free Report) shares traded down 13.2% during trading on Thursday . The stock traded as low as GBX 137.83 ($1.86) and last traded at GBX 138.60 ($1.88). 14,960,798 shares traded hands during trading, an increase of 234% from the average session volume of 4,482,611 shares. The stock had previously closed at GBX 159.60 ($2.16).
Wall Street Analysts Forecast Growth
Separately, Berenberg Bank boosted their price objective on Mitie Group from GBX 160 ($2.16) to GBX 165 ($2.23) and gave the company a "buy" rating in a research note on Wednesday, April 16th.
Read Our Latest Report on Mitie Group
Mitie Group Stock Performance
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 cap of £1.72 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 10.10 and a beta of 1.41. The stock's 50 day moving average is GBX 139.87 and its two-hundred day moving average is GBX 122.35.
Mitie Group (LON:MTO - Get Free Report) last announced its 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%. Analysts anticipate that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.
Mitie Group announced that its board has authorized a share repurchase program on Wednesday, April 16th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.
Insiders Place Their Bets
In other news, insider Derek Mapp bought 8,571 shares of Mitie Group stock in a transaction dated Tuesday, April 1st. The stock was bought at an average price of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,334.21). In the last ninety days, insiders purchased 8,797 shares of company stock valued at $1,015,714. 5.65% of the stock is owned by company insiders.
About Mitie Group
(
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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.
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