Bytes Technology Group (LON:BYIT) Releases Quarterly Earnings Results

Bytes Technology Group (LON:BYIT) issued its earnings results on Tuesday. The company reported GBX 25.07 ($0.33) EPS for the quarter, Digital Look Earnings reports. Bytes Technology Group had a return on equity of 66.59% and a net margin of 25.47%.

Bytes Technology Group Trading Down 3.6%

BYIT traded down GBX 20 ($0.26) during mid-day trading on Tuesday, hitting GBX 531 ($7.00). 524,035 shares of the stock were exchanged, compared to its average volume of 1,187,034. The firm’s fifty day moving average is GBX 481.42 and its two-hundred day moving average is GBX 457.25. The company has a current ratio of 1.09, a quick ratio of 0.98 and a debt-to-equity ratio of 0.67. The company has a market cap of £1.29 billion, a PE ratio of 24.68, a PEG ratio of 2.27 and a beta of 0.65. Bytes Technology Group has a 1-year low of GBX 400 ($5.27) and a 1-year high of GBX 610 ($8.04).

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Berenberg Bank upped their target price on shares of Bytes Technology Group from GBX 640 ($8.43) to GBX 660 ($8.70) and gave the company a “buy” rating in a research note on Tuesday, March 18th. Shore Capital restated a “buy” rating on shares of Bytes Technology Group in a research report on Wednesday, May 7th.

About Bytes Technology Group

With a 40-year track record, Bytes Technology Group is one of the UK’s leading providers of software, security and cloud services. We enable effective and cost-efficient technology sourcing, adoption and management across software, security, hardware and cloud services.

Our strong relationships with many of the world’s largest software companies enable our specialist staff to deliver the latest technology to a diverse and embedded customer base.