Mitie Group (LON:MTO) Receives “Buy” Rating from Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Mitie Group (LON:MTO) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage currently has a GBX 210 price objective on the stock.

A number of other equities analysts have also recently issued reports on MTO. Royal Bank Of Canada restated an “outperform” rating and set a GBX 195 target price on shares of Mitie Group in a report on Thursday, December 4th. Peel Hunt reaffirmed a “buy” rating and issued a GBX 191 price objective on shares of Mitie Group in a research report on Thursday, November 20th. Four investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of GBX 186.20.

Mitie Group Trading Down 1.6%

MTO stock traded down GBX 2.80 during midday trading on Tuesday, reaching GBX 168.40. The stock had a trading volume of 1,990,007 shares, compared to its average volume of 4,871,974. The firm has a market cap of £2.14 billion, a price-to-earnings ratio of 23.07, a PEG ratio of 10.10 and a beta of 1.41. Mitie Group has a twelve month low of GBX 109.18 and a twelve month high of GBX 173.40. 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 fifty day simple moving average of GBX 164.95 and a two-hundred day simple moving average of GBX 153.09.

Mitie Group (LON:MTO) last released its earnings results on Thursday, November 20th. The company reported GBX 5.70 earnings per share (EPS) for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. As a group, research analysts expect that Mitie Group will post 10.9360519 EPS for the current fiscal year.

Mitie Group announced that its board has initiated a share buyback plan on Tuesday, October 14th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Mitie Group news, insider Christopher Rogers bought 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were acquired at an average cost of GBX 115 per share, with a total value of £57,500. Also, insider Phillip Bentley purchased 195,000 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The stock was acquired at an average price of GBX 154 per share, for a total transaction of £300,300. Over the last quarter, insiders have purchased 248,603 shares of company stock valued at $36,381,610. 1.81% of the stock is owned by insiders.

Mitie Group Company Profile

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.