Mitie Group (LON:MTO) Shares Pass Above 200-Day Moving Average - Here's What Happened

Mitie Group plc (LON:MTO - Get Free Report) passed 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.

Wall Street Analysts Forecast Growth

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

Mitie Group Stock Performance

The company has a current ratio of 0.90, a quick ratio of 0.83 and a debt-to-equity ratio of 85.41. The firm has a market capitalization of £1.51 billion, a price-to-earnings ratio of 12.47, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a 50-day moving average of GBX 112.84 and a 200-day moving average of GBX 115.78.

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

Mitie Group Cuts Dividend

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

Insider Activity at Mitie Group

In related news, insider Phillip Bentley bought 200,000 shares of Mitie Group stock in a transaction dated Thursday, November 21st. The stock was acquired at an average cost of GBX 109 ($1.38) per share, with a total value of £218,000 ($275,044.16). Also, insider Derek Mapp bought 8,802 shares of Mitie Group stock in a transaction dated Thursday, January 2nd. The shares were bought at an average cost of GBX 111 ($1.40) per share, with a total value of £9,770.22 ($12,326.80). Insiders bought 209,076 shares of company stock valued at $22,807,024 over the last 90 days. 5.65% of the stock is currently owned by corporate 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.