Mitie Group plc (LON:MTO - Get Free Report) fell 11.7% during mid-day trading on Thursday . The stock traded as low as GBX 139.40 ($1.89) and last traded at GBX 141 ($1.91). 6,042,185 shares changed hands during trading, an increase of 37% from the average session volume of 4,399,260 shares. The stock had previously closed at GBX 159.60 ($2.16).
Wall Street Analysts Forecast Growth
Separately, Berenberg Bank boosted their price target on Mitie Group from GBX 160 ($2.16) to GBX 165 ($2.23) and gave the stock a "buy" rating in a research report on Wednesday, April 16th.
Read Our Latest Stock Analysis on MTO
Mitie Group Trading Down 1.7%
The firm has a market capitalization of £1.72 billion, a PE ratio of 14.16, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company's 50-day simple moving average is GBX 139.87 and its 200 day simple moving average is GBX 122.35. The company has a quick ratio of 0.83, a current ratio of 0.90 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) EPS for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. As a group, sell-side analysts expect that Mitie Group plc will post 10.9360519 EPS for the current year.
Mitie Group announced that its Board of Directors has approved a stock repurchase plan on Wednesday, April 16th that allows the company to buyback 0 shares. This buyback authorization allows the company to buy shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.
Insider Transactions at Mitie Group
In other Mitie Group news, insider Derek Mapp purchased 8,571 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was bought at an average cost of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,334.21). Insiders acquired 8,797 shares of company stock valued at $1,015,714 in the last quarter. 5.65% of the stock is currently owned by corporate insiders.
About Mitie Group
(
Get Free Report)
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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