Midwich Group’s (MIDW) Buy Rating Reiterated at Berenberg Bank

Berenberg Bank restated their buy rating on shares of Midwich Group (LON:MIDW) in a research note released on Tuesday morning, Digital Look reports. The firm currently has a GBX 720 ($9.41) price objective on the stock.

A number of other equities analysts have also recently weighed in on MIDW. Canaccord Genuity upgraded Midwich Group to a buy rating and increased their price target for the stock from GBX 707 ($9.24) to GBX 720 ($9.41) in a report on Tuesday, January 22nd. HSBC started coverage on Midwich Group in a report on Tuesday, February 12th. They set a buy rating and a GBX 700 ($9.15) price target for the company.

LON MIDW opened at GBX 620 ($8.10) on Tuesday. The firm has a market cap of $493.48 million and a PE ratio of 33.70. The company has a debt-to-equity ratio of 72.61, a current ratio of 1.23 and a quick ratio of 0.68. Midwich Group has a twelve month low of GBX 478 ($6.25) and a twelve month high of GBX 710 ($9.28).

The company also recently announced a dividend, which will be paid on Friday, June 21st. Investors of record on Thursday, May 16th will be paid a dividend of GBX 10.60 ($0.14) per share. This is a positive change from Midwich Group’s previous dividend of $4.60. The ex-dividend date is Thursday, May 16th. This represents a yield of 1.84%. Midwich Group’s dividend payout ratio is presently 1.14%.

In related news, insider Stephen Fenby sold 1,000,000 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of GBX 625 ($8.17), for a total transaction of £6,250,000 ($8,166,732.00).

About Midwich Group

Midwich Group Plc distributes audio visual (AV) and document solutions to the trade markets in the United Kingdom, Ireland, France, Australasia, Germany, Iberia, and Benelux. The company's products support various AV categories, such as large format displays, projectors, audio and digital signage products, technical and professional video products, and printers, as well as scanners and consumables.

Read More: Fundamental Analysis

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