Berenberg Bank Initiates Coverage on Mitie Group (LON:MTO)

Stock analysts at Berenberg Bank started coverage on shares of Mitie Group (LON:MTO - Get Free Report) in a research note issued on Tuesday,Digital Look reports. The firm set a "buy" rating and a GBX 160 ($1.99) price target on the stock. Berenberg Bank's price target would suggest a potential upside of 36.52% from the stock's current price.

Mitie Group Trading Up 1.0 %

Mitie Group stock traded up GBX 1.20 ($0.01) during mid-day trading on Tuesday, reaching GBX 117.20 ($1.46). 946,744 shares of the company traded hands, compared to its average volume of 2,709,260. The firm's 50 day moving average price is GBX 110.35 and its 200 day moving average price is GBX 116.13. The firm has a market capitalization of £1.45 billion, a price-to-earnings ratio of 1,302.22, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 67.87, a current ratio of 0.93 and a quick ratio of 0.83. Mitie Group has a 52-week low of GBX 100 ($1.24) and a 52-week high of GBX 127 ($1.58).

Mitie Group (LON:MTO - Get Free Report) last posted its quarterly earnings data on Thursday, November 21st. The company reported GBX 5.40 ($0.07) earnings per share (EPS) for the quarter. Mitie Group had a return on equity of 29.24% and a net margin of 2.84%. On average, analysts anticipate that Mitie Group will post 10.9360519 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Derek Mapp bought 8,802 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was acquired at an average price of GBX 111 ($1.38) per share, with a total value of £9,770.22 ($12,156.55). Also, insider Phillip Bentley purchased 200,000 shares of the company's stock in a transaction dated Thursday, November 21st. The stock was purchased at an average price of GBX 109 ($1.36) per share, for a total transaction of £218,000 ($271,245.49). In the last quarter, insiders acquired 209,076 shares of company stock valued at $22,807,024. Corporate insiders own 5.65% of the company's stock.

About Mitie Group

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.