Canaccord Genuity Group Reaffirms “Buy” Rating for ME Group International (LON:MEGP)

ME Group International (LON:MEGP)‘s stock had its “buy” rating reaffirmed by equities researchers at Canaccord Genuity Group in a report released on Friday,London Stock Exchange reports. They presently have a GBX 220 target price on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 69.23% from the company’s previous close.

ME Group International Stock Down 4.7%

Shares of LON MEGP opened at GBX 130 on Friday. The company has a market cap of £491.04 million, a price-to-earnings ratio of 8.64 and a beta of 0.53. ME Group International has a 52 week low of GBX 112.20 and a 52 week high of GBX 237.50. The firm’s fifty day moving average is GBX 137.96 and its 200 day moving average is GBX 158.34.

ME Group International (LON:MEGP) last issued its quarterly earnings data on Monday, March 23rd. The company reported GBX 15 earnings per share (EPS) for the quarter. ME Group International had a net margin of 17.94% and a return on equity of 27.72%. Equities research analysts anticipate that ME Group International will post 15.5344418 earnings per share for the current year.

ME Group International announced that its board has initiated a stock buyback plan on Monday, March 23rd that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

About ME Group International

ME Group International plc (LSE: MEGP) is an international market leader in automated self-service equipment aimed at the consumer market, with over 48,000 vending units currently in operation.

The Group operates, sells and services a wide range of instant-service vending equipment across 16 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific. The Group’s services include:

Core activities:
• Photo.ME – Photobooths and integrated biometric identification solutions
• Wash.ME – Unattended laundry services and launderettes

Ancillary activities:
• Print.ME – High-quality digital printing kiosks
• Other vending – Primarily foodservice vending equipment (Feed.ME), Children’s rides (Amuse.ME), Photocopier services (Copy.ME)

The Group has a proven track record of innovation and diversification of its products and services, enabling it to respond to the evolving needs of its customers and consumers.

The Group benefits from well-established partnerships and long-term contracts with major site owners in attractive, high-footfall locations, enabling it to offer multiple products and services onsite.