Marks and Spencer Group (LON:MKS) Trading Up 6.6% – Here’s Why

Marks and Spencer Group plc (LON:MKS)’s stock price was up 6.6% on Wednesday . The company traded as high as GBX 351.60 and last traded at GBX 348.50. Approximately 1,850,876,375 shares changed hands during mid-day trading, an increase of 2,963% from the average daily volume of 60,428,820 shares. The stock had previously closed at GBX 326.80.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on MKS shares. Shore Capital Group reaffirmed a “house stock” rating on shares of Marks and Spencer Group in a research report on Wednesday. Citigroup reduced their price target on Marks and Spencer Group to GBX 430 and set a “buy” rating for the company in a research report on Thursday, March 19th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 440 price target on shares of Marks and Spencer Group in a research report on Tuesday, March 10th. Finally, UBS Group reaffirmed a “buy” rating and issued a GBX 425 price target on shares of Marks and Spencer Group in a research report on Monday. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of GBX 415.

Marks and Spencer Group Stock Up 6.6%

The company has a current ratio of 0.81, a quick ratio of 0.42 and a debt-to-equity ratio of 121.22. The firm has a market cap of £7.06 billion, a price-to-earnings ratio of 387.22, a PEG ratio of 0.20 and a beta of 1.02. The firm has a 50-day moving average of GBX 342.76 and a two-hundred day moving average of GBX 352.59.

Marks and Spencer Group (LON:MKS) last posted its quarterly earnings data on Wednesday, May 20th. The retailer reported GBX 23.80 earnings per share for the quarter. Marks and Spencer Group had a return on equity of 0.69% and a net margin of 0.13%.The business had revenue of GBX 1,727.36 billion during the quarter. As a group, sell-side analysts predict that Marks and Spencer Group plc will post 26.0113154 earnings per share for the current fiscal year.

Marks and Spencer Group Company Profile

M&S has a heritage of quality, innovation and value for money and has been voted the UK’s most trusted brand. From these foundations, M&S is reshaping for sustainable profitable growth and value creation.

We operate as a family of businesses, selling high-quality, great-value, own-brand products and services, alongside a carefully selected range of third-party brands. We do this through a network of stores and websites globally, and together, across our stores, support centres, warehouses and supply chain, our 65,000 colleagues serve over 30 million customers each year.