Mitie Group (LON:MTO) Sets New 1-Year High – What’s Next?
by Kim Johansen · The Markets DailyMitie Group plc (LON:MTO – Get Free Report)’s stock price hit a new 52-week high on Wednesday . The company traded as high as GBX 173.80 and last traded at GBX 173.20, with a volume of 4238367 shares. The stock had previously closed at GBX 171.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the stock. Peel Hunt reaffirmed a “buy” rating and set a GBX 191 price objective on shares of Mitie Group in a research report on Thursday, November 20th. Deutsche Bank Aktiengesellschaft upped their target price on Mitie Group from GBX 170 to GBX 190 and gave the company a “buy” rating in a report on Tuesday, January 27th. Berenberg Bank reiterated a “buy” rating and set a GBX 210 price target on shares of Mitie Group in a research report on Tuesday, January 27th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a GBX 195 price objective on shares of Mitie Group in a research report on Monday. Four analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of GBX 186.20.
View Our Latest Research Report on Mitie Group
Mitie Group Price Performance
The stock has a market capitalization of £2.21 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The business has a 50-day simple moving average of GBX 166.99 and a two-hundred day simple moving average of GBX 154.76.
Mitie Group (LON:MTO – Get Free Report) last posted its quarterly earnings data on Thursday, November 20th. The company reported GBX 5.70 EPS for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. As a group, research analysts predict that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.
Mitie Group announced that its Board of Directors has approved a stock repurchase plan on Tuesday, October 14th that authorizes the company to buyback 0 shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
Insider Buying and Selling
In other news, insider Mary Reilly purchased 1,518 shares of Mitie Group stock in a transaction that occurred on Friday, January 2nd. The stock was acquired at an average price of GBX 167 per share, for a total transaction of £2,535.06. Also, insider Salma Shah acquired 1,994 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was purchased at an average cost of GBX 167 per share, with a total value of £3,329.98. Over the last 90 days, insiders bought 248,603 shares of company stock worth $36,381,610. Company insiders own 1.82% of the company’s stock.
About Mitie Group
Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.