Mobico Group (LON:MCG) Shares Down 21% - Here's What Happened

Key Points

• Mobico Group Plc shares saw a significant drop of 21% on Tuesday, trading as low as GBX 24.30 ($0.33) from a previous close of GBX 32.34 ($0.44).
• Analysts from Berenberg Bank have set a price target of GBX 35 on the stock, which currently holds an average rating of "Hold" among market analysts.
• The company reported a negative net margin of 4.36% and a negative return on equity of 13.71% in its recent earnings, raising concerns about its financial performance.

Mobico Group Plc (LON:MCG - Get Free Report)'s share price dropped 21% during trading on Tuesday . The company traded as low as GBX 24.30 ($0.33) and last traded at GBX 25.55 ($0.35). Approximately 46,315,023 shares traded hands 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).

Analysts Set New Price Targets

Separately, Berenberg Bank reiterated a "hold" rating and set 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 MarketBeat, Mobico Group presently has an average rating of "Hold" and a consensus price target of GBX 35.

Mobico Group Price Performance

The stock's 50 day simple moving average is GBX 33.59 and its two-hundred day simple moving average is GBX 40.87. The company has a market capitalization of £165.77 million, a P/E ratio of -20.15 and a beta of 1.60.

Mobico Group (LON:MCG - Get Free Report) last released 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%. As a group, equities research analysts expect that Mobico Group Plc will post 14.0227704 earnings per share for the current 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.