Numis Securities Reiterates Reduce Rating for Mitie Group (MTO)

Mitie Group (LON:MTO)‘s stock had its “reduce” rating reissued by stock analysts at Numis Securities in a research note issued to investors on Friday. They currently have a GBX 175 ($2.36) price target on the stock. Numis Securities’ price target indicates a potential downside of 6.62% from the stock’s current price.

Several other research firms have also recently commented on MTO. Liberum Capital reaffirmed a “buy” rating and issued a GBX 300 ($4.04) target price on shares of Mitie Group in a research note on Monday, November 20th. Jefferies Group reaffirmed a “buy” rating and issued a GBX 290 ($3.90) target price on shares of Mitie Group in a research note on Tuesday, November 21st. Canaccord Genuity reaffirmed a “buy” rating and issued a GBX 300 ($4.04) target price on shares of Mitie Group in a research note on Monday, November 20th. Finally, Peel Hunt reaffirmed a “hold” rating and issued a GBX 253 ($3.41) target price on shares of Mitie Group in a research note on Monday, November 20th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of GBX 238.86 ($3.21).

Mitie Group (MTO) opened at GBX 187.40 ($2.52) on Friday. Mitie Group has a 12 month low of GBX 170 ($2.29) and a 12 month high of GBX 313.50 ($4.22).

Mitie Group (LON:MTO) last issued its quarterly earnings data on Monday, November 20th. The company reported GBX 5.20 ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of GBX 7 ($0.09) by GBX (1.80) (($0.02)). Mitie Group had a return on equity of 65.84% and a net margin of 4.99%. The business had revenue of £959.70 million for the quarter.

In related news, insider Derek Mapp purchased 40,000 shares of the firm’s stock in a transaction on Wednesday, November 29th. The shares were bought at an average price of GBX 204 ($2.75) per share, for a total transaction of £81,600 ($109,825.03).

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About Mitie Group

Mitie Group plc is a holding company. The Company is engaged in providing management services. The Company focuses on providing strategic outsourcing services. The Company operates through various segments, including Soft FM, Hard FM and Property Management. The Company’s Soft FM segment includes cleaning and environmental services, security, catering and front of house services.

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