Mears Group (MER) Trading Down 10.7% Following Analyst Downgrade

Mears Group PLC (LON:MER)’s share price traded down 10.7% on Tuesday after Peel Hunt lowered their price target on the stock from GBX 500 to GBX 450. Peel Hunt currently has a buy rating on the stock. Mears Group traded as low as GBX 245 ($3.20) and last traded at GBX 258.88 ($3.38). 70,126 shares were traded during mid-day trading, a decline of 61% from the average session volume of 179,226 shares. The stock had previously closed at GBX 290 ($3.79).

Separately, Liberum Capital reaffirmed a “buy” rating on shares of Mears Group in a research note on Tuesday.

The company has a current ratio of 1.02, a quick ratio of 0.80 and a debt-to-equity ratio of 64.58. The company has a market capitalization of $298.32 million and a price-to-earnings ratio of 34.18.

The firm also recently disclosed a dividend, which will be paid on Thursday, July 4th. Stockholders of record on Thursday, June 13th will be paid a dividend of GBX 8.85 ($0.12) per share. This represents a dividend yield of 3.24%. This is an increase from Mears Group’s previous dividend of $3.55. The ex-dividend date of this dividend is Thursday, June 13th. Mears Group’s dividend payout ratio is currently 0.89%.

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Mears Group Company Profile (LON:MER)

Mears Group PLC, through its subsidiaries, provides a range of outsourced services to the public and private sectors in the United Kingdom. It operates in two segments, Housing and Care. The company offers rapid response and planned maintenance services to local authorities and registered social landlords, including responsive repairs; gas and voids services; maintenance, repairs, capital works, and energy investment solution for public buildings; estate cleaning services; and grounds maintenance, hard landscaping, soft landscaping, and arboriculture.

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