Mears Group (LON:MER) to Repurchase 0 Shares

Mears Group (LON:MER) announced that its board has initiated a share buyback plan on Wednesday, April 1st, RTT News reports. The company plans to buyback 0 shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its stock is undervalued.

Mears Group Stock Performance

LON:MER opened at GBX 332.50 on Thursday. The stock has a 50-day simple moving average of GBX 350.65 and a two-hundred day simple moving average of GBX 348.48. Mears Group has a 52-week low of GBX 310 and a 52-week high of GBX 421.37. The company has a debt-to-equity ratio of 157.98, a quick ratio of 0.92 and a current ratio of 0.79. The firm has a market capitalization of £274.01 million, a PE ratio of 6.22, a P/E/G ratio of 0.68 and a beta of 0.31.

Mears Group (LON:MER) last issued its quarterly earnings results on Thursday, March 26th. The company reported GBX 55.70 EPS for the quarter. Mears Group had a return on equity of 23.94% and a net margin of 4.07%. Analysts forecast that Mears Group will post 32.5150732 EPS for the current year.

Analyst Upgrades and Downgrades

MER has been the topic of several recent research reports. Peel Hunt reiterated a “buy” rating and issued a GBX 440 price objective on shares of Mears Group in a research note on Monday, December 8th. Berenberg Bank restated a “buy” rating and set a GBX 565 target price on shares of Mears Group in a research report on Thursday, March 26th. Finally, Panmure Gordon reaffirmed a “buy” rating and set a GBX 499 target price on shares of Mears Group in a report on Monday, December 8th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of GBX 503.50.

About Mears Group

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. It provides housing management services, which include supply of affordable homes to public and private sectors; emergency and temporary accommodation services; affordable housing/social housing management; housing with care services; private rented sector; stock acquisition; mears housing solutions; and housing services to central government departments.