Mitie Group (LON:MTO) Stock Price Down 13.2% - Here's Why

Shares of Mitie Group plc (LON:MTO - Get Free Report) traded down 13.2% during trading on Friday . The stock traded as low as GBX 137.83 ($1.87) and last traded at GBX 138.60 ($1.88). 14,960,798 shares changed hands 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 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 research report on Wednesday, April 16th.

Mitie Group Trading Down 2.2%

The stock has a market capitalization of £1.71 billion, a price-to-earnings ratio of 14.09, a PEG ratio of 10.10 and a beta of 1.41. The company's 50 day moving average is GBX 139.87 and its 200 day moving average is 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.

Mitie Group (LON:MTO - Get Free Report) last announced its quarterly earnings data 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, research analysts forecast that Mitie Group plc will post 10.9360519 EPS for the current fiscal year.

Mitie Group announced that its Board of Directors has initiated a share repurchase program on Wednesday, April 16th that permits the company to buyback 0 shares. This buyback authorization permits the company to buy shares of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, insider Derek Mapp acquired 8,571 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were purchased at an average price of GBX 115 ($1.56) per share, with a total value of £9,856.65 ($13,384.91). Insiders bought 8,797 shares of company stock worth $1,015,714 in the last quarter. 5.65% of the stock is owned by corporate insiders.

About Mitie Group

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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