Mitie Group plc (LON:MTO - Get Free Report) shares dropped 13.2% on Thursday . The company traded as low as GBX 137.83 ($1.87) and last traded at GBX 138.60 ($1.88). Approximately 14,960,798 shares changed hands during trading, an increase of 234% from the average daily volume of 4,482,611 shares. The stock had previously closed at GBX 159.60 ($2.17).
Wall Street Analyst Weigh In
Separately, Berenberg Bank increased their price target on Mitie Group from GBX 160 ($2.17) to GBX 165 ($2.24) and gave the company a "buy" rating in a report on Wednesday, April 16th.
View Our Latest Analysis on MTO
Mitie Group Trading Down 1.7%
The stock has a 50 day simple moving average of GBX 139.87 and a 200-day simple moving average of GBX 122.35. The firm has a market capitalization of £1.72 billion, a P/E ratio of 14.16, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41.
Mitie Group (LON:MTO - Get Free Report) last posted 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, equities 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 plan 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 plans are generally an indication that the company's board of directors believes its stock is undervalued.
Insider Activity
In related news, insider Derek Mapp acquired 8,571 shares of the firm's stock in a transaction dated 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 acquired a total of 8,797 shares of company stock valued at $1,015,714 in the last 90 days. Company insiders own 5.65% of the company's stock.
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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