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

Key Points

• Mobico Group's stock price fell by 21%, trading as low as GBX 24.30 ($0.33), significantly increasing trading volume to over 46 million shares.
• Despite the recent decline, analysts maintain a "hold" rating with a target price of GBX 35, suggesting a belief in potential growth.
• Mobico Group reported a negative PE ratio of -18.96 and earnings of GBX 3.80 per share in its latest quarterly results, indicating ongoing financial challenges.

Mobico Group Plc (LON:MCG - Get Free Report)'s stock price fell 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). 46,315,023 shares were traded during trading, an increase of 807% from the average session 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 target price on shares of Mobico Group in a report on Tuesday. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Mobico Group has an average rating of "Hold" and an average target price of GBX 35.

Mobico Group Trading Down 21.0%

The company has a market cap of £155.96 million, a PE ratio of -18.96 and a beta of 1.60. The business has a 50 day simple moving average of GBX 33.64 and a two-hundred day simple moving average of GBX 40.97.

Mobico Group (LON:MCG - Get Free Report) last issued its quarterly earnings results on Tuesday, September 9th. The company reported GBX 3.80 earnings per share for the quarter. Mobico Group had a negative return on equity of 13.71% and a negative net margin of 4.36%. On average, equities research analysts expect 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.