Mitie Group (LON:MTO) Receives “Outperform” Rating from Royal Bank Of Canada

Royal Bank Of Canada reissued their outperform rating on shares of Mitie Group (LON:MTO) in a report published on Thursday morning, Marketbeat reports. The brokerage currently has a GBX 195 price objective on the stock.

Several other research analysts have also issued reports on the company. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 145 target price on shares of Mitie Group in a research report on Thursday, September 11th. Peel Hunt restated a “buy” rating and set a GBX 191 price objective on shares of Mitie Group in a report on Thursday, November 20th. Berenberg Bank increased their price objective on shares of Mitie Group from GBX 185 to GBX 210 and gave the company a “buy” rating in a research report on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Mitie Group from GBX 165 to GBX 170 and gave the stock a “buy” rating in a research report on Monday, August 11th. Four investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of GBX 182.20.

Mitie Group Trading Up 2.3%

LON MTO opened at GBX 162 on Thursday. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The firm has a market cap of £2.08 billion, a PE ratio of 21.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.41. The company has a 50 day moving average price of GBX 154.91 and a 200 day moving average price of GBX 147.52. Mitie Group has a 52 week low of GBX 105.60 and a 52 week high of GBX 168.

Mitie Group (LON:MTO) last announced its earnings results on Thursday, November 20th. The company reported GBX 5.70 earnings per share for the quarter. Mitie Group had a net margin of 2.52% and a return on equity of 28.24%. As a group, sell-side analysts forecast that Mitie Group will post 10.9360519 EPS for the current fiscal year.

Mitie Group announced that its board has approved a stock buyback program on Tuesday, October 14th that authorizes the company to repurchase 0 outstanding shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In other Mitie Group news, insider Phillip Bentley acquired 195,000 shares of the stock in a transaction that occurred on Thursday, November 20th. The stock was bought at an average cost of GBX 154 per share, for a total transaction of £300,300. Also, insider Christopher Rogers acquired 50,000 shares of Mitie Group stock in a transaction that occurred on Thursday, November 20th. The stock was bought at an average price of GBX 115 per share, for a total transaction of £57,500. Insiders have bought 249,478 shares of company stock valued at $36,398,788 over the last quarter. Insiders own 1.77% 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.