Mears Group (LON:MER) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

Mears Group plc (LON:MER)’s stock price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 398.39 and traded as high as GBX 419. Mears Group shares last traded at GBX 415, with a volume of 129,133 shares trading hands.

Analyst Upgrades and Downgrades

MER has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 430 price objective on shares of Mears Group in a report on Friday, August 7th. Berenberg Bank reiterated a “buy” rating and issued a GBX 565 target price on shares of Mears Group in a report on Thursday, August 6th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of GBX 483.50.

Mears Group Stock Performance

The company has a debt-to-equity ratio of 144.62, a current ratio of 0.86 and a quick ratio of 0.92. The company has a market cap of £326.91 million, a price-to-earnings ratio of 6.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.47. The stock has a 50-day moving average price of GBX 427.45 and a 200 day moving average price of GBX 398.50.

Mears Group (LON:MER) last posted its earnings results on Thursday, August 6th. The company reported GBX 37.12 earnings per share (EPS) for the quarter. Mears Group had a return on equity of 25.52% and a net margin of 4.66%. As a group, analysts anticipate that Mears Group plc will post 32.5150732 EPS for the current fiscal year.

About Mears Group

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.