ME Group International (LON:MEGP) Trading Down 6.3% – Here’s What Happened

ME Group International plc (LON:MEGP) shares were down 6.3% during trading on Wednesday . The stock traded as low as GBX 131.20 and last traded at GBX 133.60. Approximately 14,813,241 shares were traded during mid-day trading, an increase of 475% from the average daily volume of 2,575,079 shares. The stock had previously closed at GBX 142.60.

Wall Street Analyst Weigh In

Separately, Peel Hunt reduced their target price on ME Group International from GBX 235 to GBX 220 and set a “buy” rating for the company in a research note on Monday, November 10th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of GBX 253.33.

ME Group International Trading Down 4.9%

The company has a market capitalization of £512.19 million, a price-to-earnings ratio of 9.02 and a beta of 1.20. The company has a fifty day moving average of GBX 157.38 and a 200-day moving average of GBX 186.

ME Group International Company Profile

ME Group International plc (LSE: MEGP) is an international market leader in automated self-service equipment aimed at the consumer market, with over 48,000 vending units currently in operation.

The Group operates, sells and services a wide range of instant-service vending equipment across 16 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific. The Group’s services include:

Core activities:
• Photo.ME – Photobooths and integrated biometric identification solutions
• Wash.ME – Unattended laundry services and launderettes

Ancillary activities:
• Print.ME – High-quality digital printing kiosks
• Other vending – Primarily foodservice vending equipment (Feed.ME), Children’s rides (Amuse.ME), Photocopier services (Copy.ME)

The Group has a proven track record of innovation and diversification of its products and services, enabling it to respond to the evolving needs of its customers and consumers.

The Group benefits from well-established partnerships and long-term contracts with major site owners in attractive, high-footfall locations, enabling it to offer multiple products and services onsite.