MJ Gleeson (LON:GLE) Shares Up 19.9% – Here’s What Happened

MJ Gleeson plc (LON:GLE)’s share price was up 19.9% during mid-day trading on Monday. The company traded as high as GBX 294 and last traded at GBX 292. 603,064 shares changed hands during mid-day trading, an increase of 374% from the average daily volume of 127,203 shares. The stock had previously closed at GBX 243.50.

Analyst Ratings Changes

GLE has been the topic of a number of recent research reports. Royal Bank Of Canada reaffirmed an “underperform” rating and set a GBX 200 price target on shares of MJ Gleeson in a research report on Tuesday, September 15th. Berenberg Bank cut their price objective on shares of MJ Gleeson from GBX 310 to GBX 305 and set a “buy” rating for the company in a report on Friday, September 18th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of GBX 252.50.

MJ Gleeson Price Performance

The stock has a market capitalization of £170.34 million, a price-to-earnings ratio of 11.90 and a beta of 0.62. The company has a quick ratio of 0.89, a current ratio of 3.47 and a debt-to-equity ratio of 3.34. The business’s 50 day simple moving average is GBX 266.18 and its 200-day simple moving average is GBX 258.32.

MJ Gleeson (LON:GLE) last released its earnings results on Tuesday, September 15th. The company reported GBX 14.09 EPS for the quarter. MJ Gleeson had a negative net margin of 0.47% and a negative return on equity of 0.64%. On average, research analysts forecast that MJ Gleeson plc will post 35.1412429 earnings per share for the current year.

MJ Gleeson Company Profile

MJ Gleeson plc comprises two divisions: Gleeson Homes and Gleeson Land.

Gleeson Homes, under the banner of “Building Homes. Changing Lives” builds high-quality affordable homes across the Midlands and North of England. To meet customer demand, and without compromising affordability, the range of homes available extends from one-bed apartments to five-bedroom houses. With a two-bedroom home available from £100,000, a key objective is to ensure that on all of our developments, a meaningful proportion of homes are affordable to a couple earning the National Living Wage.