Mitie Group (LON:MTO) Share Price Crosses Above 200 Day Moving Average - What's Next?

Mitie Group plc (LON:MTO - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 115.85 ($1.46) and traded as high as GBX 122 ($1.54). Mitie Group shares last traded at GBX 119.40 ($1.51), with a volume of 1,853,974 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Berenberg Bank started coverage on Mitie Group in a research report on Tuesday, January 28th. They issued a "buy" rating and a GBX 160 ($2.02) price objective for the company.

Mitie Group Price Performance

The stock has a market capitalization of £1.51 billion, a P/E ratio of 12.43, a PEG ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a quick ratio of 0.83 and a current ratio of 0.90. The business has a fifty day simple moving average of GBX 112.84 and a 200-day simple moving average of GBX 115.78.

Mitie Group (LON:MTO - Get Free Report) last released its earnings results on Thursday, November 21st. The company reported GBX 5.40 ($0.07) earnings per share (EPS) for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. Sell-side analysts expect that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group Cuts Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, February 4th. Stockholders of record on Thursday, December 19th were given a dividend of GBX 1.30 ($0.02) per share. The ex-dividend date was Thursday, December 19th. This represents a dividend yield of 1.17%. Mitie Group's dividend payout ratio (DPR) is presently 41.57%.

Insider Buying and Selling at Mitie Group

In other Mitie Group news, insider Derek Mapp bought 8,802 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were bought at an average price of GBX 111 ($1.40) per share, for a total transaction of £9,770.22 ($12,325.24). Also, insider Phillip Bentley purchased 200,000 shares of the business's stock in a transaction on Thursday, November 21st. The shares were bought at an average price of GBX 109 ($1.38) per share, with a total value of £218,000 ($275,009.46). Over the last quarter, insiders bought 209,076 shares of company stock valued at $22,807,024. Company 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.