Mitie Group (LON:MTO) Share Price Crosses Above 200-Day Moving Average - Should You Sell?

Mitie Group plc (LON:MTO) saw its stock price cross above its 200-day moving average on Thursday, signaling a potential shift in market momentum. The stock's 200-day moving average stands at GBX 115.85 ($1.46), and it reached a high of GBX 122 ($1.54) during the trading session. The shares were last seen trading at GBX 119.40 ($1.50) with a trading volume of 1,853,974 shares.

Analyst Upgrades and Downgrades

On a related note, Berenberg Bank initiated coverage on Mitie Group shares, giving them a 'buy' rating along with a target price of GBX 160 ($2.01) in a research note published on Tuesday, January 28th.

Mitie Group Price Performance

Currently, the company has a 50-day moving average of GBX 112.62 and its 200-day moving average is GBX 115.87. Mitie Group has a market capitalization of £1.52 billion, a price-to-earnings (PE) ratio of 12.53, and a price-to-earnings growth (PEG) ratio of 10.10 with a beta of 1.41. Financially, the company has a debt-to-equity ratio of 85.41, a current ratio of 0.90, and a quick ratio of 0.83.

The last earnings report from Mitie Group was released on November 21st, during which they reported earnings per share (EPS) of GBX 5.40 ($0.07) for the quarter. The company recorded a net margin of 2.52% and a return on equity of 28.24%. Analysts predict that Mitie Group will post an EPS of approximately 10.94 for the current fiscal year.

Mitie Group Cuts Dividend

In other news, Mitie Group announced a dividend recently, which was disbursed on February 4th. The dividend of GBX 1.30 ($0.02) per share was paid to shareholders who were on record as of December 19th. This dividend represents a yield of 1.17% with a payout ratio of 41.57%.

Insider Activity

Recent insider activity has been notable as well. On January 2nd, insider Derek Mapp purchased 8,802 shares at an average price of GBX 111 ($1.40) each for a total investment of £9,770.22 ($12,297.32). Additionally, insider Phillip Bentley made a significant purchase of 200,000 shares on November 21st at an average price of GBX 109 ($1.37) per share, totaling £218,000 ($274,386.41). Over the last three months, insiders have bought a total of 209,076 shares valued at approximately $22.8 million. Currently, insiders own about 5.65% of the company's stock.

Mitie Group Company Profile

Mitie Group plc, along with its subsidiaries, provides facilities management and professional services domestically and internationally. The company's operations are divided into four segments: Business Services, Technical Services, Central Government & Defense (CG&D), and Communities. Their services include decarbonization, energy and carbon management, integrated facilities management, waste management, and security services.

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