ME Group International (LON:MEGP) Trading Up 6.9% – Here’s Why

Shares of ME Group International plc (LON:MEGP) were up 6.9% during mid-day trading on Thursday . The stock traded as high as GBX 145 and last traded at GBX 144.10. Approximately 1,024,619 shares were traded during mid-day trading, a decline of 51% from the average daily volume of 2,100,048 shares. The stock had previously closed at GBX 134.80.

Analyst Upgrades and Downgrades

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

ME Group International Stock Performance

The stock has a market capitalization of £542.42 million, a P/E ratio of 9.66 and a beta of 0.48. The business has a fifty day simple moving average of GBX 141.33 and a 200-day simple moving average of GBX 148.59.

ME Group International (LON:MEGP) last released 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%. On average, sell-side analysts anticipate that ME Group International plc will post 15.5344418 earnings per share for the current year.

ME Group International announced that its Board of Directors has approved a stock buyback plan on Monday, March 23rd that permits the company to repurchase 0 shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors 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.