Mobico Group (LON:MCG) Stock Price Down 21% - Here's Why

Key Points

• Mobico Group Plc (LON:MCG) shares experienced a significant drop of 21%, trading as low as GBX 24.30, with an unusually high trading volume of over 46 million shares.
• Despite the drop, Berenberg Bank maintained a "hold" rating with a target price of GBX 35, and analysts have an average rating of "hold" for the stock.
• The company reported a negative return on equity of 13.71% and a negative net margin of 4.36% in its latest earnings report, indicating ongoing financial struggles.

Mobico Group Plc (LON:MCG - Get Free Report) was down 21% during mid-day trading on Tuesday . The stock traded as low as GBX 24.30 ($0.33) and last traded at GBX 25.55 ($0.35). Approximately 46,315,023 shares were traded during mid-day trading, an increase of 807% from the average daily volume of 5,105,512 shares. The stock had previously closed at GBX 32.34 ($0.44).

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a "hold" rating and issued a GBX 35 target price on shares of Mobico Group in a research note on Tuesday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of GBX 35.

Mobico Group Trading Up 0.1%

The company has a market cap of £164.30 million, a P/E ratio of -19.97 and a beta of 1.60. The firm's 50 day moving average price is GBX 33.59 and its 200-day moving average price is GBX 40.87.

Mobico Group (LON:MCG - Get Free Report) last issued its earnings results on Tuesday, September 9th. The company reported GBX 3.80 earnings per share (EPS) for the quarter. Mobico Group had a negative net margin of 4.36% and a negative return on equity of 13.71%. Analysts predict that Mobico Group Plc will post 14.0227704 earnings per share for the current fiscal year.

Mobico Group Company Profile

Mobico Group is a leading international transport operator, diversified internationally and by business area; with operations in North America, continental Europe, the UK and North Africa. We provide safe, efficient, clean and reliable shared mobility solutions to cities, businesses, education, healthcare and customers. We are internationally diversified with a balanced portfolio of high quality contracts and market-leading customer brands.