ME Group International (LON:MEGP) Shares Down 1.7% – Here’s Why

ME Group International plc (LON:MEGP) shares fell 1.7% during trading on Wednesday. The stock traded as low as GBX 111.80 and last traded at GBX 112.12. Approximately 680,415 shares changed hands during trading, a decline of 78% from the average session volume of 3,054,999 shares. The stock had previously closed at GBX 114.

Analysts Set New Price Targets

Separately, Peel Hunt restated a “buy” rating and set a GBX 230 price target on shares of ME Group International in a report on Monday, July 13th. Two research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, ME Group International currently has a consensus rating of “Buy” and an average price target of GBX 225.

ME Group International Stock Performance

The company has a market cap of £418.85 million, a P/E ratio of 7.63 and a beta of 0.53. The firm has a 50 day moving average price of GBX 119.28 and a 200-day moving average price of GBX 126.79.

ME Group International Company Profile

ME Group International plc (LSE: MEGP) is an international market leader in automated self-service equipment aimed at the consumer market, with over 49,000 vending units currently in operation.

The Group operates, sells and services a wide range of instant-service vending equipment across 16 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific. The Group’s services include:

Core activities:
• Photo.ME – Photobooths and integrated biometric identification solutions
• Wash.ME – Unattended laundry services and launderettes

Ancillary activities:
• Print.ME – High-quality digital printing kiosks
• Other vending – Primarily foodservice vending equipment (Feed.ME), Children’s rides (Amuse.ME), Photocopier services (Copy.ME)

The Group has a proven track record of innovation and diversification of its products and services, enabling it to respond to the evolving needs of its customers and consumers.

The Group benefits from well-established partnerships and long-term contracts with major site owners in attractive, high-footfall locations, enabling it to offer multiple products and services onsite.