Share Buyback Plan Authorized by ME Group International (LON:MEGP) Board

Key Points

• ME Group's board authorized a share buyback on March 23, permitting open-market repurchases — the announcement unusually states "0" shares to be bought, suggesting a reporting or filing anomaly.
• Shares were flat at GBX 136.60; the company has a market cap of £515.97m, a P/E of 9.08, and a one-year trading range of GBX 112.20–237.50.
• ME Group reported GBX 15 earnings per share for the quarter with a return on equity of 30.42% and a net margin of 18.33%, and analysts project roughly GBX 15.53 EPS for the current year.

ME Group International (LON:MEGP - Get Free Report) announced that its Board of Directors has authorized a share buyback program on Monday, March 23rd, RTT News reports. The company plans to buyback 0 outstanding shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company's board believes its shares are undervalued.

ME Group International Stock Performance

Shares of ME Group International stock remained flat at GBX 136.60 during trading hours on Monday. ME Group International has a 1 year low of GBX 112.20 and a 1 year high of GBX 237.50. The business's 50-day moving average is GBX 138.20 and its two-hundred day moving average is GBX 159.70. The company has a market cap of £515.97 million, a PE ratio of 9.08 and a beta of 1.20.

ME Group International (LON:MEGP - Get Free Report) last issued its earnings results on Monday, March 23rd. The company reported GBX 15 earnings per share for the quarter. ME Group International had a return on equity of 30.42% and a net margin of 18.33%. On average, equities analysts expect that ME Group International will post 15.5344418 earnings per share for the current year.

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 48,000 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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