Michelmersh Brick (LON:MBH) Receives Buy Rating from Berenberg Bank

Berenberg Bank reissued their buy rating on shares of Michelmersh Brick (LON:MBH - Free Report) in a research note released on Tuesday, Marketbeat reports. They currently have a GBX 170 ($2.20) price target on the stock.

Separately, Canaccord Genuity Group reduced their target price on shares of Michelmersh Brick from GBX 170 ($2.20) to GBX 160 ($2.07) and set a "buy" rating on the stock in a report on Tuesday.

Michelmersh Brick Price Performance

Michelmersh Brick stock traded up GBX 1.72 ($0.02) during mid-day trading on Tuesday, reaching GBX 99.22 ($1.28). The company had a trading volume of 263,945 shares, compared to its average volume of 124,514. The business has a fifty day simple moving average of GBX 104.96 and a 200 day simple moving average of GBX 102.41. The company has a market cap of £91.25 million, a P/E ratio of 11.28 and a beta of 1.01. Michelmersh Brick has a fifty-two week low of GBX 92 ($1.19) and a fifty-two week high of GBX 111.65 ($1.45). The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 2.05.

Michelmersh Brick (LON:MBH - Get Free Report) last issued its earnings results on Tuesday, March 25th. The company reported GBX 8.18 ($0.11) earnings per share (EPS) for the quarter. Michelmersh Brick had a return on equity of 8.82% and a net margin of 11.46%. On average, equities research analysts predict that Michelmersh Brick will post 10.3053435 earnings per share for the current year.

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Michelmersh Brick Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 5th will be paid a GBX 3 ($0.04) dividend. This is a boost from Michelmersh Brick's previous dividend of $1.60. The ex-dividend date is Thursday, June 5th. This represents a dividend yield of 3.06%. Michelmersh Brick's dividend payout ratio is presently 56.87%.

About Michelmersh Brick

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh, Hathern Terra Cotta and Floren. These divisions operate within a fully integrated business combining the manufacture of clay bricks and pavers. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets. Established in 1997 the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 120 million clay bricks and pavers per annum.