ME Group International’s (MEGP) Buy Rating Reiterated at Canaccord Genuity Group

Canaccord Genuity Group restated their buy rating on shares of ME Group International (LON:MEGP) in a research report sent to investors on Friday,London Stock Exchange reports. The brokerage currently has a GBX 220 price objective on the stock.

ME Group International Stock Performance

Shares of MEGP opened at GBX 130 on Friday. ME Group International has a twelve month low of GBX 112.20 and a twelve month high of GBX 237.50. The firm’s 50 day moving average price is GBX 137.96 and its two-hundred day moving average price is GBX 158.14. The firm has a market cap of £491.04 million, a P/E ratio of 8.64 and a beta of 0.53.

ME Group International (LON:MEGP) last announced its quarterly earnings data on Monday, March 23rd. The company reported GBX 15 earnings per share (EPS) for the quarter. ME Group International had a net margin of 17.94% and a return on equity of 27.72%. On average, sell-side analysts anticipate that ME Group International will post 15.5344418 earnings per share for the current fiscal year.

ME Group International announced that its Board of Directors has authorized a share buyback plan on Monday, March 23rd that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

About ME Group International

ME Group International plc (LSE: MEGP) is an international market leader in automated self-service equipment aimed at the consumer market, with over 48,000 vending units currently in operation.

The Group operates, sells and services a wide range of instant-service vending equipment across 16 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific. The Group’s services include:

Core activities:
• Photo.ME – Photobooths and integrated biometric identification solutions
• Wash.ME – Unattended laundry services and launderettes

Ancillary activities:
• Print.ME – High-quality digital printing kiosks
• Other vending – Primarily foodservice vending equipment (Feed.ME), Children’s rides (Amuse.ME), Photocopier services (Copy.ME)

The Group has a proven track record of innovation and diversification of its products and services, enabling it to respond to the evolving needs of its customers and consumers.

The Group benefits from well-established partnerships and long-term contracts with major site owners in attractive, high-footfall locations, enabling it to offer multiple products and services onsite.