Marks and Spencer Group (LON:MKS) Trading Up 6.6% – Here’s Why

Marks and Spencer Group plc (LON:MKS)’s share price was up 6.6% during trading on Wednesday . The company traded as high as GBX 351.60 and last traded at GBX 348.50. Approximately 1,850,876,375 shares changed hands during mid-day trading, an increase of 2,963% from the average daily volume of 60,428,820 shares. The stock had previously closed at GBX 326.80.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MKS shares. Shore Capital Group restated a “house stock” rating on shares of Marks and Spencer Group in a research note on Wednesday. Citigroup lowered their price objective on Marks and Spencer Group to GBX 430 and set a “buy” rating for the company in a research note on Thursday, March 19th. UBS Group restated a “buy” rating and set a GBX 425 price objective on shares of Marks and Spencer Group in a research note on Monday. Finally, Jefferies Financial Group restated a “buy” rating and set a GBX 440 price objective on shares of Marks and Spencer Group in a research note on Tuesday, March 10th. Six research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Marks and Spencer Group currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 415.

Marks and Spencer Group Trading Up 6.6%

The firm has a market cap of £7.06 billion, a P/E ratio of 387.22, a P/E/G ratio of 0.20 and a beta of 1.02. The company has a debt-to-equity ratio of 121.22, a quick ratio of 0.42 and a current ratio of 0.81. The firm has a fifty day moving average of GBX 342.76 and a 200-day moving average of GBX 352.59.

Marks and Spencer Group (LON:MKS) last announced its earnings results on Wednesday, May 20th. The retailer reported GBX 23.80 earnings per share for the quarter. The firm had revenue of GBX 1,727.36 billion for the quarter. Marks and Spencer Group had a return on equity of 0.69% and a net margin of 0.13%. Equities research analysts forecast that Marks and Spencer Group plc will post 26.0113154 earnings per share for the current year.

Marks and Spencer Group Company Profile

M&S has a heritage of quality, innovation and value for money and has been voted the UK’s most trusted brand. From these foundations, M&S is reshaping for sustainable profitable growth and value creation.

We operate as a family of businesses, selling high-quality, great-value, own-brand products and services, alongside a carefully selected range of third-party brands. We do this through a network of stores and websites globally, and together, across our stores, support centres, warehouses and supply chain, our 65,000 colleagues serve over 30 million customers each year.