Mears Group (LON:MER) Stock Price Crosses Above 200-Day Moving Average of $322.05

Posted by Defense World Staff on May 4th, 2024

Mears Group plc (LON:MER – Get Free Report)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 322.05 ($4.05) and traded as high as GBX 370 ($4.65). Mears Group shares last traded at GBX 368 ($4.62), with a volume of 244,885 shares.

Wall Street Analysts Forecast Growth

Separately, Numis Securities boosted their target price on Mears Group from GBX 375 ($4.71) to GBX 420 ($5.28) and gave the stock an “add” rating in a report on Thursday, April 11th.

Get Our Latest Research Report on MER

Mears Group Stock Performance

The stock has a market capitalization of £353.57 million, a P/E ratio of 1,150.00, a P/E/G ratio of 0.68 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 145.24. The business has a fifty day moving average price of GBX 360.55 and a 200-day moving average price of GBX 322.05.

Mears Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, July 16th. Stockholders of record on Thursday, June 27th will be issued a dividend of GBX 9.30 ($0.12) per share. This is an increase from Mears Group’s previous dividend of $3.70. This represents a dividend yield of 2.66%. The ex-dividend date is Thursday, June 27th. Mears Group’s dividend payout ratio is presently 4,062.50%.

Insider Activity

In other Mears Group news, insider Andrew C. M. Smith purchased 20,000 shares of the stock in a transaction dated Friday, April 26th. The shares were purchased at an average cost of GBX 351 ($4.41) per share, with a total value of £70,200 ($88,179.88). Corporate insiders own 2.53% of the company’s stock.

About Mears Group

(Get Free Report)

Mears Group plc, together with its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. The company 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.