Canaccord Genuity Group Has Lowered Expectations for Michelmersh Brick (LON:MBH) Stock Price

Michelmersh Brick (LON:MBH) had its target price trimmed by Canaccord Genuity Group from GBX 170 ($2.20) to GBX 160 ($2.07) in a report published on Tuesday, MarketBeat reports. The brokerage currently has a buy rating on the stock.

Michelmersh Brick Price Performance

MBH opened at GBX 96.71 ($1.25) on Tuesday. The company has a market capitalization of £88.95 million, a P/E ratio of 11.00 and a beta of 1.01. The company has a 50-day moving average of GBX 105.07 and a 200-day moving average of GBX 102.42. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.56 and a current ratio of 2.13. Michelmersh Brick has a 1-year low of GBX 92 ($1.19) and a 1-year high of GBX 111.65 ($1.45).

Michelmersh Brick (LON:MBH) last announced its quarterly earnings data on Tuesday, March 25th. The company reported GBX 8.18 ($0.11) earnings per share for the quarter. Michelmersh Brick had a return on equity of 8.82% and a net margin of 11.46%. Equities analysts expect that Michelmersh Brick will post 10.3053435 EPS for the current fiscal year.

Michelmersh Brick Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 5th will be issued a GBX 3 ($0.04) dividend. This represents a yield of 3.06%. The ex-dividend date is Thursday, June 5th. This is an increase from Michelmersh Brick’s previous dividend of $1.60. Michelmersh Brick’s payout ratio is currently 56.87%.

About Michelmersh Brick

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh, Hathern Terra Cotta and Floren. These divisions operate within a fully integrated business combining the manufacture of clay bricks and pavers. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

Established in 1997 the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 120 million clay bricks and pavers per annum.