ME Group International (LON:MEGP) Issues Earnings Results

ME Group International (LON:MEGP) posted its quarterly earnings results on Friday. The company reported GBX 6.79 earnings per share for the quarter, Digital Look Earnings reports. ME Group International had a return on equity of 27.72% and a net margin of 17.94%.

ME Group International Price Performance

Shares of LON:MEGP traded up GBX 2 during midday trading on Friday, hitting GBX 105.20. 821,906 shares of the company’s stock were exchanged, compared to its average volume of 3,296,344. The stock has a 50 day moving average price of GBX 125.13 and a 200-day moving average price of GBX 136.30. The company has a market cap of £395.87 million, a PE ratio of 7.06 and a beta of 0.48. ME Group International has a 12 month low of GBX 98.50 and a 12 month high of GBX 230.

ME Group International declared that its Board of Directors has initiated a share repurchase plan on Monday, March 23rd that allows the company to buyback 0 shares. This buyback authorization allows the company to repurchase shares of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group restated a “buy” rating and set a GBX 220 price objective on shares of ME Group International in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 220.

About ME Group International

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.