Canaccord Genuity Group Reiterates Buy Rating for ME Group International (LON:MEGP)

ME Group International (LON:MEGP)‘s stock had its “buy” rating restated by Canaccord Genuity Group in a research note issued to investors on Friday,London Stock Exchange reports. They presently have a GBX 220 target price on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 65.78% from the company’s current price.

ME Group International Price Performance

LON MEGP opened at GBX 132.71 on Friday. The stock has a market capitalization of £501.26 million, a P/E ratio of 8.82 and a beta of 1.20. The business has a 50 day simple moving average of GBX 138.16 and a 200 day simple moving average of GBX 158.98. ME Group International has a one year low of GBX 112.20 and a one year high of GBX 237.50.

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 30.42% and a net margin of 18.33%. Equities analysts expect that ME Group International will post 15.5344418 earnings per share for the current year.

ME Group International declared that its board 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 buy shares of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership 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 48,000 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.