Mitie Group (LON:MTO) Releases Earnings Results

Mitie Group (LON:MTO) announced its earnings results on Thursday. The company reported GBX 5.70 EPS for the quarter, Digital Look Earnings reports. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%.

Mitie Group Stock Performance

Shares of LON MTO traded down GBX 3.80 during trading hours on Thursday, hitting GBX 152.60. 9,148,915 shares of the company’s stock were exchanged, compared to its average volume of 5,268,178. The company’s 50-day moving average price is GBX 150.97 and its 200-day moving average price is GBX 146.85. Mitie Group has a 1-year low of GBX 101 and a 1-year high of GBX 168. The stock has a market capitalization of £1.96 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83.

Insiders Place Their Bets

In other Mitie Group news, insider Salma Shah purchased 2,423 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was bought at an average cost of GBX 138 per share, for a total transaction of £3,343.74. Also, insider Mary Reilly acquired 1,844 shares of Mitie Group stock in a transaction dated Wednesday, October 1st. The stock was acquired at an average cost of GBX 138 per share, with a total value of £2,544.72. Insiders have acquired a total of 4,478 shares of company stock valued at $618,788 in the last three months. Company insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Berenberg Bank raised their price objective on Mitie Group from GBX 185 to GBX 210 and gave the stock a “buy” rating in a research report on Tuesday, October 28th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 145 target price on shares of Mitie Group in a research note on Thursday, September 11th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of Mitie Group from GBX 165 to GBX 170 and gave the stock a “buy” rating in a research note on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 175.

Mitie Group declared that its board has authorized a stock repurchase program on Tuesday, October 14th that allows the company to buyback 0 shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Mitie Group Company Profile

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.