Marks Electrical Group (LON:MRK) Shares Down 1% – Here’s Why

Marks Electrical Group PLC (LON:MRK) shares fell 1% during mid-day trading on Wednesday . The stock traded as low as GBX 45 and last traded at GBX 45.05. Approximately 8,228 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 42,561 shares. The stock had previously closed at GBX 45.50.

Analysts Set New Price Targets

A number of brokerages have commented on MRK. Shore Capital Group reiterated a “hold” rating and issued a GBX 50 target price on shares of Marks Electrical Group in a report on Friday, June 19th. Canaccord Genuity Group restated a “buy” rating and issued a GBX 55 price target on shares of Marks Electrical Group in a report on Friday, June 19th. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of GBX 52.50.

Marks Electrical Group Stock Performance

The company has a debt-to-equity ratio of 18.87, a quick ratio of 0.62 and a current ratio of 1.49. The stock has a market cap of £46.87 million, a PE ratio of -112.62 and a beta of 0.58. The firm has a fifty day moving average price of GBX 46.43 and a 200 day moving average price of GBX 47.02.

Marks Electrical Group (LON:MRK) last announced its earnings results on Monday, June 22nd. The company reported GBX (40) earnings per share for the quarter. Marks Electrical Group had a negative return on equity of 4.18% and a negative net margin of 0.39%.The business had revenue of £107.93 million for the quarter. Research analysts forecast that Marks Electrical Group PLC will post 3.5523979 earnings per share for the current fiscal year.

About Marks Electrical Group

Marks Electrical Group PLC, together with its subsidiary, engages in the supply of domestic electrical appliances and consumer electronics in the United Kingdom. The company also provides removal and recycling of packaging; collection and recycling of old appliances; and extended warranties and installation services. It sells its products through online platform. The company was formerly known as Marks Electrical Holding Limited and changed its name to Marks Electrical Group PLC in October 2021. Marks Electrical Group PLC was founded in 1987 and is headquartered in Leicester, United Kingdom.