Stock Repurchase Program Announced by Mears Group (LON:MER)

Mears Group (LON:MER) announced that its board has approved a stock repurchase plan on Wednesday, April 1st, RTT News reports. The company plans to repurchase 0 outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Mears Group Stock Performance

MER opened at GBX 335.50 on Friday. The company has a debt-to-equity ratio of 157.98, a current ratio of 0.79 and a quick ratio of 0.92. The firm has a fifty day moving average price of GBX 350.21 and a 200 day moving average price of GBX 348.39. Mears Group has a 1 year low of GBX 310 and a 1 year high of GBX 421.37. The stock has a market cap of £276.48 million, a P/E ratio of 6.28, a P/E/G ratio of 0.68 and a beta of 0.31.

Mears Group (LON:MER) last released its quarterly earnings results on Thursday, March 26th. The company reported GBX 55.70 EPS for the quarter. Mears Group had a net margin of 4.07% and a return on equity of 23.94%. Equities research analysts anticipate that Mears Group will post 32.5150732 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MER shares. Peel Hunt reaffirmed a “buy” rating and set a GBX 440 price target on shares of Mears Group in a research report on Monday, December 8th. Berenberg Bank reissued a “buy” rating and issued a GBX 565 price objective on shares of Mears Group in a report on Thursday, March 26th. Finally, Panmure Gordon restated a “buy” rating and issued a GBX 499 target price on shares of Mears Group in a research note on Monday, December 8th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of GBX 503.50.

About Mears Group

Mears Group plc, together with its subsidiaries, provides various outsourced services to the public and private sectors in the United Kingdom. The company offers rapid-response and planned maintenance services to local authorities; gas and repair services; and maintenance and repairs, capital works, energy investment, and regeneration solutions for public buildings, as well as grounds maintenance services. It provides housing management services, which include supply of affordable homes to public and private sectors; emergency and temporary accommodation services; affordable housing/social housing management; housing with care services; private rented sector; stock acquisition; mears housing solutions; and housing services to central government departments.