ME Group International (LON:MEGP) Shares Down 1.4% – Here’s Why

ME Group International plc (LON:MEGP) fell 1.4% during mid-day trading on Tuesday . The company traded as low as GBX 100.60 and last traded at GBX 101. Approximately 999,364 shares were traded during trading, a decline of 62% from the average session volume of 2,634,726 shares. The stock had previously closed at GBX 102.40.

Wall Street Analysts Forecast Growth

Separately, Canaccord Genuity Group reiterated a “buy” rating and issued a GBX 220 price target on shares of ME Group International in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of GBX 220.

ME Group International Trading Up 0.2%

The stock has a market capitalization of £389.10 million, a PE ratio of 6.93 and a beta of 0.48. The stock has a 50 day moving average price of GBX 131.81 and a 200-day moving average price of GBX 138.90.

ME Group International (LON:MEGP) last posted its quarterly earnings data on Monday, March 23rd. The company reported GBX 15 EPS for the quarter. ME Group International had a return on equity of 27.72% and a net margin of 17.94%. Research analysts forecast that ME Group International plc will post 15.5344418 earnings per share for the current year.

ME Group International declared that its Board of Directors has initiated a stock repurchase program on Monday, March 23rd that permits the company to repurchase 0 outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board 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.