Mears Group (LON:MER) Share Price Passes Above 200 Day Moving Average of $244.22

Mears Group plc (LON:MER)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 244.22 ($3.08) and traded as high as GBX 280 ($3.54). Mears Group shares last traded at GBX 275.50 ($3.48), with a volume of 67,420 shares traded.

Wall Street Analysts Forecast Growth

Separately, Numis Securities upped their target price on Mears Group from GBX 275 ($3.47) to GBX 280 ($3.54) and gave the stock a “buy” rating in a report on Friday, June 16th.

Mears Group Trading Up 0.5 %

The company has a market cap of £286.05 million, a price-to-earnings ratio of 1,059.62, a PEG ratio of 0.68 and a beta of 1.07. The firm has a 50 day moving average price of GBX 278.47 and a two-hundred day moving average price of GBX 244.22. The company has a quick ratio of 0.92, a current ratio of 1.04 and a debt-to-equity ratio of 104.41.

Mears Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, October 27th. Investors of record on Thursday, October 5th will be given a dividend of GBX 3.70 ($0.05) per share. The ex-dividend date of this dividend is Thursday, October 5th. This represents a dividend yield of 1.37%. Mears Group’s payout ratio is 4,230.77%.

Mears Group Company Profile

Mears Group plc, through its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. It offers rapid-response and planned maintenance services to local authorities; gas and repair services; and maintenance and repairs, capital works, energy investment, and regeneration solutions for public buildings, as well as grounds maintenance services.