MJ Gleeson (LON:GLE) Share Price Breaks Above 50 Day Moving Average – Time to Sell?

Shares of MJ Gleeson plc (LON:GLE) passed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of GBX 267.46 and traded as high as GBX 290. MJ Gleeson shares last traded at GBX 276.50, with a volume of 97,578 shares.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on GLE. Royal Bank Of Canada reissued an “underperform” rating and set a GBX 200 price objective on shares of MJ Gleeson in a research report on Tuesday, September 15th. Berenberg Bank dropped their target price on shares of MJ Gleeson from GBX 310 to GBX 305 and set a “buy” rating for the company in a research report on Friday, September 18th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of GBX 252.50.

MJ Gleeson Price Performance

The stock has a market cap of £156.63 million, a P/E ratio of -80.87 and a beta of 0.62. The firm has a 50-day moving average price of GBX 267.56 and a 200-day moving average price of GBX 257.61. The company has a debt-to-equity ratio of 3.34, a quick ratio of 0.89 and a current ratio of 3.47.

MJ Gleeson (LON:GLE) last released its earnings results on Tuesday, September 15th. The company reported GBX 14.09 EPS for the quarter. MJ Gleeson had a negative return on equity of 0.64% and a negative net margin of 0.47%. On average, analysts forecast that MJ Gleeson plc will post 35.1412429 earnings per share for the current fiscal year.

MJ Gleeson Company Profile

MJ Gleeson plc comprises two divisions: Gleeson Homes and Gleeson Land.

Gleeson Homes, under the banner of “Building Homes. Changing Lives” builds high-quality affordable homes across the Midlands and North of England. To meet customer demand, and without compromising affordability, the range of homes available extends from one-bed apartments to five-bedroom houses. With a two-bedroom home available from £100,000, a key objective is to ensure that on all of our developments, a meaningful proportion of homes are affordable to a couple earning the National Living Wage.