Mears Group (LON:MER) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Mears Group plc (LON:MER) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of GBX 356.30 and traded as high as GBX 399. Mears Group shares last traded at GBX 396.61, with a volume of 831,555 shares traded.

Analyst Upgrades and Downgrades

Separately, Berenberg Bank reaffirmed a “buy” rating and set a GBX 565 target price on shares of Mears Group in a research report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of GBX 503.50.

Mears Group Stock Performance

The firm has a market capitalization of £326.04 million, a PE ratio of 7.34, a price-to-earnings-growth ratio of 0.68 and a beta of 0.37. 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 stock has a 50-day moving average price of GBX 355.90 and a 200-day moving average price of GBX 356.30.

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

Mears Group declared that its board has approved a share buyback program on Wednesday, April 1st that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Mears Group Company Profile

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.