Mitie Group (LON:MTO) Shares Down 13.2% - What's Next?

Mitie Group plc (LON:MTO - Get Free Report) shares dropped 13.2% on Thursday . The stock 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 mid-day trading, an increase of 234% from the average daily volume of 4,482,611 shares. The stock had previously closed at GBX 159.60 ($2.16).

Analyst Ratings Changes

Separately, Berenberg Bank increased their price objective on shares of Mitie Group from GBX 160 ($2.17) to GBX 165 ($2.23) and gave the company a "buy" rating in a research note on Wednesday, April 16th.

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 has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The company's 50-day simple moving average is GBX 140.27 and its 200 day simple moving average is GBX 122.70.

Mitie Group (LON:MTO - Get Free Report) last posted 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%. 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 has authorized a share buyback program on Wednesday, April 16th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Derek Mapp purchased 8,571 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was acquired at an average price of GBX 115 ($1.56) per share, with a total value of £9,856.65 ($13,341.43). Insiders have acquired a total of 8,797 shares of company stock worth $1,015,714 in the last ninety days. 5.65% of the stock is owned by 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.