M&G (LON:MNG) Sets New 1-Year High – Here’s Why

M&G plc (LON:MNG) shares hit a new 52-week high on Friday . The stock traded as high as GBX 279.09 and last traded at GBX 277.80, with a volume of 13330749 shares. The stock had previously closed at GBX 275.60.

Wall Street Analysts Forecast Growth

MNG has been the subject of a number of research analyst reports. Berenberg Bank raised shares of M&G to a “buy” rating and increased their target price for the company from GBX 225 to GBX 342 in a report on Friday, October 10th. Royal Bank Of Canada restated a “sector perform” rating and issued a GBX 265 price target on shares of M&G in a report on Monday, November 10th. UBS Group reaffirmed a “buy” rating and issued a GBX 275 price objective on shares of M&G in a research note on Friday, August 15th. Finally, JPMorgan Chase & Co. boosted their target price on M&G from GBX 305 to GBX 315 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 280.33.

M&G Stock Down 0.3%

The company has a market cap of £6.52 billion, a PE ratio of -109.96, a P/E/G ratio of -2.76 and a beta of 1.47. The firm has a 50-day simple moving average of GBX 263.83 and a two-hundred day simple moving average of GBX 257.76. The company has a debt-to-equity ratio of 218.70, a current ratio of 0.40 and a quick ratio of 0.39.

M&G (LON:MNG) last issued its quarterly earnings data on Wednesday, September 3rd. The company reported GBX 10.10 earnings per share (EPS) for the quarter. M&G had a return on equity of 4.31% and a net margin of 1.85%. Research analysts anticipate that M&G plc will post 24.2485207 earnings per share for the current fiscal year.

About M&G

M&G plc is a leading savings and investments business, managing investments for both individuals and for large institutional investors, such as pension funds, around the world.

We have a single corporate identity, M&G plc, and two customer-facing brands: Prudential and M&G Investments. Prudential offers savings and insurance for customers in the UK and Europe and for asset management in South Africa.