Mitie Group (LON:MTO) Issues Earnings Results

Mitie Group (LON:MTO) announced its quarterly earnings results on Thursday. The company reported GBX 5.70 earnings per share (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 Trading Down 2.8%

LON MTO traded down GBX 4.40 during trading hours on Thursday, hitting GBX 152. 9,043,630 shares of the company’s stock were exchanged, compared to its average volume of 5,267,712. The business’s 50 day moving average is GBX 150.97 and its 200-day moving average is GBX 146.85. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. Mitie Group has a 12-month low of GBX 101 and a 12-month high of GBX 168. The firm has a market capitalization of £1.95 billion, a P/E ratio of 20.00, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 145 target price on shares of Mitie Group in a research note on Thursday, September 11th. Berenberg Bank boosted their price target on Mitie Group from GBX 185 to GBX 210 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Mitie Group from GBX 165 to GBX 170 and gave the company a “buy” rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock 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 buyback program on Tuesday, October 14th that allows the company to buyback 0 outstanding shares. This buyback authorization allows the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, insider Mary Reilly bought 1,844 shares of the stock in a transaction that occurred on Wednesday, October 1st. The stock was purchased at an average cost of GBX 138 per share, for a total transaction of £2,544.72. Also, insider Phillip Bentley sold 2,000,032 shares of the company’s stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of GBX 138, for a total transaction of £2,760,044.16. Insiders purchased a total of 4,478 shares of company stock valued at $618,788 in the last 90 days. 1.77% of the stock is currently owned by insiders.

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.