Mobico Group (LON:MCG) Shares Up 11.7% – Here’s Why

Shares of Mobico Group Plc (LON:MCG) rose 11.7% during mid-day trading on Friday. The company traded as high as GBX 44.74 and last traded at GBX 44. 535,849,313 shares traded hands during mid-day trading, an increase of 4,961% from the average daily volume of 10,587,162 shares. The stock had previously closed at GBX 39.38.

Analysts Set New Price Targets

MCG has been the topic of several analyst reports. Berenberg Bank reiterated a “hold” rating and set a GBX 35 target price on shares of Mobico Group in a research report on Tuesday, September 8th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 70 price objective on shares of Mobico Group in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of GBX 43.33.

Mobico Group Stock Performance

The firm’s 50 day moving average is GBX 26.27 and its 200 day moving average is GBX 24.09. The stock has a market cap of £267.84 million, a P/E ratio of -0.85 and a beta of 1.31.

Mobico Group (LON:MCG) last issued its quarterly earnings results on Wednesday, July 29th. The company reported GBX (22.62) earnings per share (EPS) for the quarter. Mobico Group had a negative net margin of 10.75% and a positive return on equity of 160.47%. As a group, analysts expect that Mobico Group Plc will post 14.02 EPS for the current fiscal year.

About Mobico Group

Mobico Group is a leading international transport operator, diversified internationally and by business area; with operations in North America, continental Europe, the UK and North Africa.

We provide safe, efficient, clean and reliable shared mobility solutions to cities, businesses, education, healthcare and customers.

We are internationally diversified with a balanced portfolio of high quality contracts and market-leading customer brands.

We help millions of people around the world every day, getting them safely and reliably to work, school, to family and friends.

We are leveraging our network economies to shape the future of multi-modal transport.