SSP Group (LON:SSPG) Stock Price Up 16% Following Dividend Announcement

Shares of SSP Group plc (LON:SSPG) were up 16% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as GBX 172.40 and last traded at GBX 171.79. Approximately 9,473,694 shares were traded during mid-day trading, an increase of 177% from the average daily volume of 3,425,577 shares. The stock had previously closed at GBX 148.10.

Analysts Set New Price Targets

Several analysts recently issued reports on SSPG shares. Shore Capital reissued a “house stock” rating on shares of SSP Group in a research note on Thursday. Berenberg Bank reiterated a “buy” rating and set a GBX 190 price objective on shares of SSP Group in a research report on Tuesday, October 14th. Citigroup reissued a “buy” rating and issued a GBX 310 target price (down previously from GBX 330) on shares of SSP Group in a report on Monday, October 13th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of SSP Group from GBX 285 to GBX 262 and set a “buy” rating for the company in a research report on Thursday, September 25th. Finally, JPMorgan Chase & Co. reduced their price target on shares of SSP Group from GBX 190 to GBX 170 and set a “neutral” rating on the stock in a report on Friday. Four investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, SSP Group has an average rating of “Moderate Buy” and an average price target of GBX 232.83.

SSP Group Trading Up 15.3%

The company has a quick ratio of 0.66, a current ratio of 0.44 and a debt-to-equity ratio of 852.29. The stock’s 50 day moving average is GBX 156.14 and its 200-day moving average is GBX 162.69. The company has a market cap of £1.36 billion, a PE ratio of -56.93, a P/E/G ratio of -0.77 and a beta of 1.88.

SSP Group (LON:SSPG) last issued its quarterly earnings data on Thursday, December 4th. The company reported GBX 11 EPS for the quarter. SSP Group had a net margin of 0.24% and a return on equity of 3.64%. As a group, sell-side analysts anticipate that SSP Group plc will post 13.1004016 EPS for the current year.

SSP Group declared that its Board of Directors has approved a share buyback plan on Thursday, October 9th that allows the company to repurchase 0 shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Patrick Coveney acquired 149,669 shares of the stock in a transaction dated Thursday, December 4th. The stock was acquired at an average cost of GBX 168 per share, with a total value of £251,443.92. Also, insider Karina Deacon bought 18,000 shares of the company’s stock in a transaction dated Thursday, December 4th. The stock was bought at an average price of GBX 171 per share, with a total value of £30,780. Insiders have purchased 182,751 shares of company stock valued at $30,814,856 over the last ninety days. 1.00% of the stock is owned by insiders.

SSP Group Company Profile

SSP is a leading operator of food and beverage outlets in travel locations worldwide, with c.37,000 colleagues in over 600 locations across 36 countries. We operate sit-down and quick service restaurants, cafes, lounges and food-led convenience stores, principally in airports and train stations, with a portfolio of more than 550 international, national and local brands.