Mitie Group (LON:MTO) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Mitie Group plc (LON:MTO) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of GBX 115.85 ($1.46) and traded as high as GBX 120 ($1.52). Mitie Group shares last traded at GBX 118.93 ($1.50), with a volume of 4,359,989 shares trading hands.

Analyst Ratings Changes

Separately, Berenberg Bank assumed coverage on shares of Mitie Group in a research report on Tuesday, January 28th. They set a “buy” rating and a GBX 160 ($2.02) price objective on the stock.

Mitie Group Stock Performance

The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83. The firm has a fifty day simple moving average of GBX 113.60 and a 200 day simple moving average of GBX 115.85. The company has a market cap of £1.50 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last announced its quarterly earnings results on Thursday, November 21st. The company reported GBX 5.40 ($0.07) EPS for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. On average, sell-side analysts expect that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Insider Buying and Selling at Mitie Group

In related news, insider Derek Mapp acquired 8,802 shares of the stock in a transaction dated Thursday, January 2nd. The shares were acquired at an average price of GBX 111 ($1.40) per share, for a total transaction of £9,770.22 ($12,343.93). Insiders have purchased a total of 9,076 shares of company stock worth $1,007,024 over the last 90 days. 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.