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

Key Points

• Mobico Group's stock price fell by 21% on Tuesday, trading as low as GBX 24.30 ($0.33) from a previous close of GBX 32.34 ($0.44), with an unprecedented trading volume of over 46 million shares.
• Berenberg Bank has given Mobico Group a "hold" rating with a price target of GBX 35, while the general consensus for the stock remains a "Hold" rating.
• The company recently announced a quarterly earnings per share of GBX 3.80, but continues to face challenges with a negative return on equity of 13.71% and a negative net margin of 4.36%.

Mobico Group Plc (LON:MCG - Get Free Report)'s stock price was down 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).

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank reiterated a "hold" rating and set a GBX 35 price objective on shares of Mobico Group in a report on Tuesday. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of GBX 35.

Mobico Group Stock Performance

The firm has a market capitalization of £167.84 million, a price-to-earnings ratio of -20.40 and a beta of 1.60. The stock's fifty day moving average is GBX 33.59 and its two-hundred day moving average is GBX 40.87.

Mobico Group (LON:MCG - Get Free Report) last announced its quarterly earnings data on Tuesday, September 9th. The company reported GBX 3.80 earnings per share for the quarter. Mobico Group had a negative net margin of 4.36% and a negative return on equity of 13.71%. Sell-side analysts anticipate 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.