Mitie Group (LON:MTO) Coverage Initiated by Analysts at Berenberg Bank

Berenberg Bank initiated coverage on shares of Mitie Group (LON:MTO) in a report released on Tuesday morning,Digital Look reports. The firm issued a buy rating and a GBX 160 ($1.99) target price on the stock.

Mitie Group Trading Up 0.5 %

LON MTO traded up GBX 0.60 ($0.01) during trading on Tuesday, hitting GBX 116.60 ($1.45). 963,688 shares of the company’s stock traded hands, compared to its average volume of 2,710,107. The firm has a market cap of £1.45 billion, a P/E ratio of 1,295.56, a PEG ratio of 10.10 and a beta of 1.41. The stock has a fifty day moving average of GBX 110.35 and a two-hundred day moving average of GBX 116.13. The company has a debt-to-equity ratio of 67.87, a current ratio of 0.93 and a quick ratio of 0.83. Mitie Group has a 12-month low of GBX 100 ($1.24) and a 12-month high of GBX 127 ($1.58).

Mitie Group (LON:MTO) last issued 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 net margin of 2.84% and a return on equity of 29.24%. As a group, sell-side analysts expect that Mitie Group will post 10.9360519 EPS for the current year.

Mitie Group Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, February 4th. Stockholders of record on Thursday, December 19th will be paid a GBX 1.30 ($0.02) dividend. This represents a dividend yield of 1.17%. The ex-dividend date of this dividend is Thursday, December 19th. Mitie Group’s payout ratio is presently 4,444.44%.

Insider Buying and Selling at Mitie Group

In related news, insider Derek Mapp acquired 8,802 shares of the stock in a transaction on Thursday, January 2nd. The stock was acquired at an average price of GBX 111 ($1.38) per share, for a total transaction of £9,770.22 ($12,156.55). Also, insider Phillip Bentley bought 200,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was bought at an average cost of GBX 109 ($1.36) per share, for a total transaction of £218,000 ($271,245.49). Over the last 90 days, insiders bought 209,076 shares of company stock valued at $22,807,024. 5.65% of the stock is currently 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.