Mears Group (LON:MER) to Repurchase 0 Stock

Mears Group (LON:MER) declared that its board has approved a stock repurchase plan on Wednesday, April 1st, RTT News reports. The company plans to buyback 0 shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its shares are undervalued.

Mears Group Price Performance

Mears Group stock opened at GBX 335.50 on Friday. Mears Group has a 52-week low of GBX 310 and a 52-week high of GBX 421.37. The company has a quick ratio of 0.92, a current ratio of 0.79 and a debt-to-equity ratio of 157.98. The firm’s fifty day moving average is GBX 349.77 and its 200 day moving average is GBX 348.45. The company has a market cap of £276.48 million, a price-to-earnings ratio of 6.28, a PEG ratio of 0.68 and a beta of 0.31.

Mears Group (LON:MER) last issued its quarterly earnings data on Thursday, March 26th. The company reported GBX 55.70 EPS for the quarter. Mears Group had a net margin of 4.07% and a return on equity of 23.94%. Sell-side analysts forecast that Mears Group will post 32.5150732 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on MER shares. Berenberg Bank reaffirmed a “buy” rating and issued a GBX 565 target price on shares of Mears Group in a report on Thursday, March 26th. Peel Hunt reissued a “buy” rating and set a GBX 440 price target on shares of Mears Group in a research note on Monday, December 8th. Finally, Panmure Gordon restated a “buy” rating and set a GBX 499 price target on shares of Mears Group in a report on Monday, December 8th. Four equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Mears Group presently has a consensus rating of “Buy” and an average price target of GBX 503.50.

Mears Group Company Profile

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.