Michelmersh Brick’s (MBH) “Buy” Rating Reaffirmed at Berenberg Bank

Berenberg Bank restated their buy rating on shares of Michelmersh Brick (LON:MBH) in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has a GBX 170 ($2.20) price target on the stock.

Separately, Canaccord Genuity Group lowered their price objective on shares of Michelmersh Brick from GBX 170 ($2.20) to GBX 160 ($2.07) and set a “buy” rating on the stock in a research note on Tuesday.

Michelmersh Brick Price Performance

MBH stock opened at GBX 96.71 ($1.25) on Tuesday. The company has a market cap of £88.95 million, a price-to-earnings ratio of 11.00 and a beta of 1.01. The company has a current ratio of 2.13, a quick ratio of 1.56 and a debt-to-equity ratio of 2.05. The firm has a 50 day moving average of GBX 105.07 and a 200-day moving average of GBX 102.42. Michelmersh Brick has a 12-month low of GBX 92 ($1.19) and a 12-month high of GBX 111.65 ($1.45).

Michelmersh Brick (LON:MBH) last issued its quarterly earnings data on Tuesday, March 25th. The company reported GBX 8.18 ($0.11) earnings per share (EPS) for the quarter. Michelmersh Brick had a return on equity of 8.82% and a net margin of 11.46%. As a group, equities analysts expect that Michelmersh Brick will post 10.3053435 EPS for the current fiscal year.

Michelmersh Brick Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 5th will be issued a dividend of GBX 3 ($0.04) per share. This represents a yield of 3.06%. The ex-dividend date is Thursday, June 5th. This is a boost from Michelmersh Brick’s previous dividend of $1.60. Michelmersh Brick’s dividend payout ratio is 56.87%.

About Michelmersh Brick

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh, Hathern Terra Cotta and Floren. These divisions operate within a fully integrated business combining the manufacture of clay bricks and pavers. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

Established in 1997 the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 120 million clay bricks and pavers per annum.