Mears Group (LON:MER) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Mears Group plc (LON:MER)’s stock price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 351.06 and traded as high as GBX 373. Mears Group shares last traded at GBX 371.43, with a volume of 901,167 shares.

Wall Street Analyst Weigh In

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

Mears Group Price Performance

The stock has a market capitalization of £310.79 million, a price-to-earnings ratio of 7.00, a PEG ratio of 0.68 and a beta of 0.37. The company has a debt-to-equity ratio of 157.98, a quick ratio of 0.92 and a current ratio of 0.79. The company has a fifty day simple moving average of GBX 349.30 and a two-hundred day simple moving average of GBX 351.47.

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

Mears Group declared that its Board of Directors has authorized a stock buyback plan on Wednesday, April 1st that authorizes the company to repurchase 0 shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

About Mears Group

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.