ME Group International (LON:MEGP) Stock Price Down 7.9% – Here’s Why

ME Group International plc (LON:MEGP)’s stock price was down 7.9% during mid-day trading on Thursday . The company traded as low as GBX 137.60 and last traded at GBX 138.03. Approximately 123,568,336 shares changed hands during trading, an increase of 3,088% from the average daily volume of 3,875,708 shares. The stock had previously closed at GBX 149.80.

Analyst Upgrades and Downgrades

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 220 target price on shares of ME Group International in a research note on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of GBX 248.33.

ME Group International Stock Down 7.9%

The company has a market capitalization of £519.55 million, a P/E ratio of 9.26 and a beta of 0.50. The company’s fifty day moving average price is GBX 140.77 and its 200 day moving average price is GBX 150.30.

ME Group International (LON:MEGP) last issued its quarterly earnings results on Monday, March 23rd. The company reported GBX 15 earnings per share (EPS) for the quarter. ME Group International had a return on equity of 27.72% and a net margin of 17.94%. Research analysts predict that ME Group International plc will post 15.5344418 earnings per share for the current fiscal year.

ME Group International announced that its Board of Directors has authorized a share buyback plan on Monday, March 23rd that allows the company to repurchase 0 outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

ME Group International Company Profile

ME Group International plc (LSE: MEGP) is an international market leader in automated self-service equipment aimed at the consumer market, with over 49,000 vending units currently in operation.

The Group operates, sells and services a wide range of instant-service vending equipment across 16 countries in its key regions of Continental Europe, the UK & Republic of Ireland and Asia Pacific. The Group’s services include:

Core activities:
• Photo.ME – Photobooths and integrated biometric identification solutions
• Wash.ME – Unattended laundry services and launderettes

Ancillary activities:
• Print.ME – High-quality digital printing kiosks
• Other vending – Primarily foodservice vending equipment (Feed.ME), Children’s rides (Amuse.ME), Photocopier services (Copy.ME)

The Group has a proven track record of innovation and diversification of its products and services, enabling it to respond to the evolving needs of its customers and consumers.

The Group benefits from well-established partnerships and long-term contracts with major site owners in attractive, high-footfall locations, enabling it to offer multiple products and services onsite.