Royal Bank Of Canada Reaffirms “Outperform” Rating for Mitie Group (LON:MTO)

Mitie Group (LON:MTO)‘s stock had its “outperform” rating reiterated by equities researchers at Royal Bank Of Canada in a research report issued on Thursday, Marketbeat reports. They currently have a GBX 195 target price on the stock. Royal Bank Of Canada’s price target would suggest a potential upside of 20.60% from the stock’s current price.

Several other equities research analysts have also recently commented on MTO. Jefferies Financial Group restated a “hold” rating and issued a GBX 145 target price on shares of Mitie Group in a research note on Thursday, September 11th. Peel Hunt reiterated a “buy” rating and issued a GBX 191 price objective on shares of Mitie Group in a report on Thursday, November 20th. Berenberg Bank increased their target price on shares of Mitie Group from GBX 185 to GBX 210 and gave the stock a “buy” rating in a report on Tuesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of Mitie Group from GBX 165 to GBX 170 and gave the company a “buy” rating in a research report on Monday, August 11th. Four equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of GBX 182.20.

Mitie Group Stock Down 0.2%

Shares of MTO stock opened at GBX 161.70 on Thursday. Mitie Group has a 12-month low of GBX 105.60 and a 12-month high of GBX 168. The company has a quick ratio of 0.83, a current ratio of 0.90 and a debt-to-equity ratio of 85.41. The firm has a fifty day moving average of GBX 155.37 and a 200-day moving average of GBX 147.58. The company has a market capitalization of £2.08 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 10.10 and a beta of 1.41.

Mitie Group (LON:MTO) last released its earnings results on Thursday, November 20th. The company reported GBX 5.70 earnings per share (EPS) for the quarter. Mitie Group had a return on equity of 28.24% and a net margin of 2.52%. As a group, equities research analysts predict that Mitie Group will post 10.9360519 earnings per share for the current fiscal year.

Mitie Group declared that its board has initiated a stock repurchase plan on Tuesday, October 14th that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Mary Reilly acquired 1,844 shares of the stock in a transaction dated Wednesday, October 1st. The stock was bought at an average price of GBX 138 per share, for a total transaction of £2,544.72. Also, insider Christopher Rogers acquired 50,000 shares of the company’s stock in a transaction dated Thursday, November 20th. The shares were bought at an average price of GBX 115 per share, for a total transaction of £57,500. Over the last ninety days, insiders acquired 249,478 shares of company stock worth $36,398,788. Company insiders own 1.77% 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.