Bytes Technology Group’s (BYIT) Buy Rating Reiterated at Peel Hunt

Peel Hunt restated their buy rating on shares of Bytes Technology Group (LON:BYITGet Rating) in a report issued on Tuesday, reports. They currently have a GBX 489 ($6.08) price target on the stock.

Separately, Jefferies Financial Group reissued a buy rating and issued a GBX 480 ($5.97) price target on shares of Bytes Technology Group in a report on Friday, March 24th.

Bytes Technology Group Stock Up 2.3 %

LON BYIT opened at GBX 454.40 ($5.65) on Tuesday. The stock’s 50 day moving average is GBX 406.78 and its 200 day moving average is GBX 403.01. The company has a current ratio of 0.99, a quick ratio of 0.98 and a debt-to-equity ratio of 2.36. Bytes Technology Group has a 12 month low of GBX 353.40 ($4.40) and a 12 month high of GBX 478.60 ($5.95). The stock has a market cap of £1.09 billion, a PE ratio of 3,029.33, a P/E/G ratio of 2.27 and a beta of 0.86.

Bytes Technology Group Increases Dividend

The company also recently disclosed a dividend, which will be paid on Friday, August 4th. Shareholders of record on Thursday, July 20th will be paid a GBX 12.60 ($0.16) dividend. This is an increase from Bytes Technology Group’s previous dividend of $2.40. The ex-dividend date of this dividend is Thursday, July 20th. This represents a yield of 2.81%. Bytes Technology Group’s payout ratio is presently 4,666.67%.

Bytes Technology Group Company Profile

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Bytes Technology Group plc offers software, IT security, hardware, and cloud services in the United Kingdom, rest of Europe, and internationally. The company sells servers, laptops, and other devices; various cloud-based and non-cloud-based licenses; and externally and internally provided training and consulting services.

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