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

Mitie Group plc (LON:MTO)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 115.85 ($1.46) and traded as high as GBX 122 ($1.54). Mitie Group shares last traded at GBX 119.40 ($1.50), with a volume of 1,853,974 shares.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank began coverage on shares of Mitie Group in a research note on Tuesday, January 28th. They set a “buy” rating and a GBX 160 ($2.01) target price for the company.

Mitie Group Price Performance

The firm has a 50-day moving average of GBX 112.62 and a 200 day moving average of GBX 115.87. The company has a market capitalization of £1.52 billion, a PE ratio of 12.53, a PEG ratio of 10.10 and a beta of 1.41. The company has a debt-to-equity ratio of 85.41, a current ratio of 0.90 and a quick ratio of 0.83.

Mitie Group (LON:MTO) last posted 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 2.52% and a return on equity of 28.24%. As a group, research analysts anticipate that Mitie Group plc will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group Cuts Dividend

The business also recently announced a dividend, which was paid on Tuesday, February 4th. Shareholders of record on Thursday, December 19th were paid a dividend of GBX 1.30 ($0.02) per share. The ex-dividend date was Thursday, December 19th. This represents a yield of 1.17%. Mitie Group’s dividend payout ratio is presently 41.57%.

Insider Activity

In other Mitie Group news, insider Derek Mapp acquired 8,802 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were bought at an average price of GBX 111 ($1.40) per share, with a total value of £9,770.22 ($12,297.32). Also, insider Phillip Bentley acquired 200,000 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were acquired at an average cost of GBX 109 ($1.37) per share, with a total value of £218,000 ($274,386.41). Insiders have bought 209,076 shares of company stock valued at $22,807,024 in the last ninety days. 5.65% of the stock is currently owned by company insiders.

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.