Mitie Group (LON:MTO) Earns Buy Rating from Analysts at Berenberg Bank

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

Mitie Group Trading Up 0.3 %

LON MTO opened at GBX 116.80 ($1.45) on Tuesday. The company’s 50 day moving average price is GBX 110.46 and its 200 day moving average price is GBX 116.13. Mitie Group has a one year low of GBX 100 ($1.24) and a one year high of GBX 127 ($1.58). The company has a debt-to-equity ratio of 67.87, a quick ratio of 0.83 and a current ratio of 0.93. The firm has a market capitalization of £1.45 billion, a price-to-earnings ratio of 1,297.78, a PEG ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last released its quarterly earnings results on Thursday, November 21st. The company reported GBX 5.40 ($0.07) earnings per share for the quarter. Mitie Group had a net margin of 2.84% and a return on equity of 29.24%. On average, sell-side analysts predict 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. Investors of record on Thursday, December 19th will be issued a dividend of GBX 1.30 ($0.02) per share. The ex-dividend date is Thursday, December 19th. This represents a yield of 1.17%. Mitie Group’s payout ratio is 4,444.44%.

Insider Activity at Mitie Group

In related news, insider Phillip Bentley bought 200,000 shares of Mitie Group stock in a transaction that occurred on Thursday, November 21st. The stock was purchased at an average cost of GBX 109 ($1.35) per share, for a total transaction of £218,000 ($270,740.19). Also, insider Derek Mapp acquired 8,802 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were bought at an average cost of GBX 111 ($1.38) per share, with a total value of £9,770.22 ($12,133.90). Insiders acquired a total of 209,076 shares of company stock valued at $22,807,024 over the last ninety days. Insiders own 5.65% of the company’s stock.

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.