Berenberg Bank Initiates Coverage on Mitie Group (LON:MTO)

Research analysts at Berenberg Bank began coverage on shares of Mitie Group (LON:MTO) in a research report issued on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating and a GBX 160 ($1.99) price target on the stock. Berenberg Bank’s price target would indicate a potential upside of 37.46% from the stock’s previous close.

Mitie Group Stock Performance

Shares of MTO stock opened at GBX 116.40 ($1.45) on Tuesday. Mitie Group has a 52 week low of GBX 100 ($1.25) and a 52 week high of GBX 127 ($1.58). The firm’s 50-day simple moving average is GBX 110.46 and its two-hundred day simple moving average is GBX 116.13. The firm has a market cap of £1.44 billion, a price-to-earnings ratio of 1,293.33, a P/E/G ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 67.87, a quick ratio of 0.83 and a current ratio of 0.93.

Mitie Group (LON:MTO) last released its earnings results on Thursday, November 21st. The company reported GBX 5.40 ($0.07) earnings per share (EPS) for the quarter. Mitie Group had a return on equity of 29.24% and a net margin of 2.84%. As a group, equities analysts forecast that Mitie Group will post 10.9360519 earnings per share for the current year.

Insiders Place Their Bets

In other Mitie Group news, insider Derek Mapp acquired 8,802 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were bought at an average price of GBX 111 ($1.38) per share, for a total transaction of £9,770.22 ($12,164.12). Also, insider Phillip Bentley bought 200,000 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was acquired at an average price of GBX 109 ($1.36) per share, for a total transaction of £218,000 ($271,414.34). Insiders have purchased a total of 209,076 shares of company stock worth $22,807,024 over the last 90 days. Corporate insiders own 5.65% of the company’s stock.

Mitie Group Company Profile

Mitie Group plc, together with its subsidiaries, provides facilities management and professional services in the United Kingdom and internationally. The company operates in four segments: Business Services, Technical Services, Central Government & Defense (CG&D), Communities. The company provides decarbonization, electrical grid connections, emission intelligence, energy and carbon, EV fleets, and heat solutions, as well as solar energy; cleaning and hygiene, engineering maintenance, integrated facilities management, landscape, and waste management services; project and workplace services; and Fire & security systems, front of house, intelligence, vetting, and security guarding service.