Mears Group (LON:MER) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened

Mears Group plc (LON:MER)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of GBX 390.64 and traded as high as GBX 433.50. Mears Group shares last traded at GBX 427.50, with a volume of 104,832 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on MER. Berenberg Bank reissued a “buy” rating and set a GBX 565 price target on shares of Mears Group in a research note on Thursday, August 6th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a GBX 430 target price on shares of Mears Group in a research report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of GBX 483.50.

Mears Group Stock Up 1.6%

The company has a debt-to-equity ratio of 144.62, a current ratio of 0.86 and a quick ratio of 0.92. The firm has a market cap of £342.13 million, a P/E ratio of 8.01, a PEG ratio of 0.68 and a beta of 0.47. The firm’s 50-day moving average price is GBX 426.27 and its 200 day moving average price is GBX 391.11.

Mears Group (LON:MER) last released its quarterly earnings data on Thursday, August 6th. The company reported GBX 37.12 earnings per share for the quarter. Mears Group had a net margin of 4.66% and a return on equity of 25.52%. On average, equities research analysts expect that Mears Group plc will post 32.5150732 earnings per share for the current fiscal year.

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.