Mears Group (LON:MER) Shares Cross Above 200-Day Moving Average – Here’s Why

Mears Group plc (LON:MER)’s share price crossed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of GBX 400.71 and traded as high as GBX 419.50. Mears Group shares last traded at GBX 416.50, with a volume of 98,495 shares traded.

Analysts Set New Price Targets

MER has been the topic of a number of analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 430 target price on shares of Mears Group in a report on Friday, August 7th. Berenberg Bank restated a “buy” rating and issued a GBX 565 price objective on shares of Mears Group in a research report on Thursday, August 6th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of GBX 483.50.

Mears Group Trading Down 0.1%

The business’s 50-day moving average price is GBX 425.53 and its two-hundred day moving average price is GBX 400.71. The company has a debt-to-equity ratio of 144.62, a current ratio of 0.86 and a quick ratio of 0.92. The firm has a market cap of £328.49 million, a price-to-earnings ratio of 6.70, a price-to-earnings-growth ratio of 0.68 and a beta of 0.47.

Mears Group (LON:MER) last announced its quarterly earnings data on Thursday, August 6th. The company reported GBX 37.12 earnings per share (EPS) for the quarter. Mears Group had a net margin of 4.66% and a return on equity of 25.52%. Equities analysts expect that Mears Group plc will post 32.5150732 earnings per share for the current year.

About Mears Group

Mears Group plc, together with its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. The company offers rapid-response and planned maintenance services to local authorities; gas and repair services; and maintenance and repairs, capital works, energy investment, and regeneration solutions for public buildings, as well as grounds maintenance services. It provides housing management services, which include supply of affordable homes to public and private sectors; emergency and temporary accommodation services; affordable housing/social housing management; housing with care services; private rented sector; stock acquisition; mears housing solutions; and housing services to central government departments.