Marks and Spencer Group (LON:MKS) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Marks and Spencer Group plc (LON:MKS) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of GBX 328.35 ($4.15) and traded as high as GBX 373.92 ($4.73). Marks and Spencer Group shares last traded at GBX 363 ($4.59), with a volume of 4,318,456 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Shore Capital restated a “house stock” rating on shares of Marks and Spencer Group in a research note on Wednesday, November 13th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of GBX 327 ($4.14).

Marks and Spencer Group Stock Performance

The company has a debt-to-equity ratio of 110.71, a quick ratio of 0.42 and a current ratio of 0.86. The company has a market cap of £7.33 billion, a P/E ratio of 1,728.57, a P/E/G ratio of 0.20 and a beta of 1.62. The stock’s fifty day moving average price is GBX 373.26 and its two-hundred day moving average price is GBX 328.35.

Marks and Spencer Group Cuts Dividend

The firm also recently announced a dividend, which will be paid on Friday, January 10th. Shareholders of record on Thursday, November 28th will be paid a dividend of GBX 1 ($0.01) per share. This represents a yield of 0.26%. The ex-dividend date of this dividend is Thursday, November 28th. Marks and Spencer Group’s payout ratio is presently 1,428.57%.

Marks and Spencer Group Company Profile

Marks and Spencer Group plc operates various retail stores. It operates through: UK Clothing & Home, UK Food, International, Ocado, and All Other segments. The company offers protein deli and dairy; produce; ambient and in-store bakery; meals dessert and frozen; and hospitality and Food on the Move’ products.