Mitie Group (LON:MTO) Shares Cross Above 200 Day Moving Average - Time to Sell?

Mitie Group plc (LON:MTO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 115.99 ($1.44) and traded as high as GBX 116.46 ($1.44). Mitie Group shares last traded at GBX 116.46 ($1.44), with a volume of 2,353,385 shares.

Analysts Set New Price Targets

Separately, Berenberg Bank initiated coverage on Mitie Group in a report on Tuesday, January 28th. They set a "buy" rating and a GBX 160 ($1.98) target price on the stock.

Mitie Group Stock Down 0.3 %

The firm's fifty day moving average is GBX 111.65 and its 200 day moving average is GBX 115.95. The company has a debt-to-equity ratio of 67.87, a quick ratio of 0.83 and a current ratio of 0.93. The firm has a market cap of £1.44 billion, a P/E ratio of 1,293.33, a P/E/G ratio of 10.10 and a beta of 1.41.

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 for the quarter. Mitie Group had a return on equity of 29.24% and a net margin of 2.84%. As a group, equities research analysts anticipate 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 given 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 4,444.44%.

Insider Buying and Selling

In other Mitie Group news, 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 ($1.35) per share, with a total value of £218,000 ($270,404.37). Also, insider Derek Mapp acquired 8,802 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The stock was bought at an average price of GBX 111 ($1.38) per share, with a total value of £9,770.22 ($12,118.85). Insiders have purchased 209,076 shares of company stock valued at $22,807,024 over the last 90 days. 5.65% of the stock is owned by corporate insiders.

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.