Mitie Group (LON:MTO) Posts Earnings Results

Mitie Group (LON:MTO) announced its quarterly earnings results on Thursday. The company reported GBX 12.70 ($0.17) earnings per share for the quarter, Digital Look Earnings reports. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%.

Mitie Group Stock Down 1.7%

MTO opened at GBX 136.20 ($1.84) on Friday. Mitie Group has a 12 month low of GBX 101 ($1.37) and a 12 month high of GBX 160 ($2.16). 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 stock has a market cap of £1.72 billion, a P/E ratio of 14.16, a P/E/G ratio of 10.10 and a beta of 1.41. The stock’s 50 day moving average price is GBX 140.27 and its 200 day moving average price is GBX 122.50.

Analysts Set New Price Targets

Separately, Berenberg Bank increased their price objective on shares of Mitie Group from GBX 160 ($2.16) to GBX 165 ($2.23) and gave the stock a “buy” rating in a report on Wednesday, April 16th.

Mitie Group announced that its board has approved a stock repurchase plan on Wednesday, April 16th that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Mitie Group

In related news, insider Derek Mapp acquired 8,571 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were acquired at an average price of GBX 115 ($1.56) per share, for a total transaction of £9,856.65 ($13,334.21). Insiders have acquired a total of 8,797 shares of company stock worth $1,015,714 in the last three months. 5.65% of the stock is owned by company insiders.

About Mitie Group

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.