ME Group International (LON:MEGP) Stock Falls 1.7% - Here's What Happened

Key Points

• ME Group International shares fell 1.7% to GBX 112.12 during Wednesday trading, with volume down 78% versus the average session.
• Analysts remain bullish: Peel Hunt reiterated a “Buy” rating with a GBX 230 target, while the consensus rating is “Buy” with a GBX 225 target price.
• The company operates more than 49,000 automated vending units across 16 countries, with core businesses in photobooths and unattended laundry services.

Shares of ME Group International plc (LON:MEGP - Get Free Report) fell 1.7% during trading on Wednesday. The stock traded as low as GBX 111.80 and last traded at GBX 112.12. 680,415 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 3,054,999 shares. The stock had previously closed at GBX 114.

Analysts Set New Price Targets

Separately, Peel Hunt restated a "buy" rating and set a GBX 230 price target on shares of ME Group International in a report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of GBX 225.

ME Group International Price Performance

The stock has a fifty day moving average of GBX 119.54 and a 200 day moving average of GBX 127.13. The firm has a market capitalization of £420.03 million, a P/E ratio of 7.65 and a beta of 0.53.

About ME Group International

ME Group International plc LSE: MEGP is an international market leader in automated self-service equipment aimed at the consumer market, with over 49,000 vending units currently in operation. The Group operates, sells and services a wide range of instant-service vending equipment across 16 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific. The Group's services include: Core activities: • Photo.ME - Photobooths and integrated biometric identification solutions • Wash.ME - Unattended laundry services and launderettes Ancillary activities: • Print.ME - High-quality digital printing kiosks • Other vending - Primarily foodservice vending equipment (Feed.ME), Children's rides (Amuse.ME), Photocopier services (Copy.ME) The Group has a proven track record of innovation and diversification of its products and services, enabling it to respond to the evolving needs of its customers and consumers. The Group benefits from well-established partnerships and long-term contracts with major site owners in attractive, high-footfall locations, enabling it to offer multiple products and services onsite.

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