ME Group International (LON:MEGP) Trading Down 7.9% – What’s Next?

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

Analyst Ratings Changes

Separately, Canaccord Genuity Group reiterated a “buy” rating and set a GBX 220 price objective on shares of ME Group International in a research report on Friday, March 27th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of GBX 248.33.

ME Group International Trading Down 1.3%

The stock has a market capitalization of £516.43 million, a P/E ratio of 9.20 and a beta of 0.48. The stock’s fifty day moving average price is GBX 140.77 and its two-hundred day moving average price is GBX 150.30.

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

ME Group International declared that its Board of Directors has initiated a share buyback plan on Monday, March 23rd that authorizes the company to buyback 0 outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

About ME Group International

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.