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Mears Group Plc ( (GB:MER) ) has provided an update.
Mears Group PLC has secured a major contract from Birmingham City Council to provide responsive and void maintenance, gas servicing and heating installation, as well as planned maintenance and improvement programmes, for 11,500 council homes in the authority’s West-Central region. The all-encompassing asset management agreement, valued at an estimated £450m over an initial 10-year term with an option for a further five-year extension, underpins Mears’ strategy of pursuing long-duration, integrated housing maintenance contracts and is expected to strengthen its presence in Birmingham, support growth in its maintenance division and add around 170 staff to the business.
The most recent analyst rating on (GB:MER) stock is a Buy with a £399.00 price target. To see the full list of analyst forecasts on Mears Group Plc stock, see the GB:MER Stock Forecast page.
Spark’s Take on GB:MER Stock
According to Spark, TipRanks’ AI Analyst, GB:MER is a Outperform.
Mears Group Plc shows strong financial performance with solid growth and profitability, although high leverage is a concern. The stock’s valuation is attractive with a low P/E ratio and high dividend yield. The recent acquisition is a positive strategic move, enhancing growth prospects. Technical indicators suggest stable market conditions.
To see Spark’s full report on GB:MER stock, click here.
More about Mears Group Plc
Mears Group PLC is a leading UK provider of housing services, managing and maintaining around 450,000 homes nationwide on long-term contracts for central and local government. Employing over 5,000 people, the company delivers property management, maintenance and broader housing solutions aimed at tackling the shortage of affordable housing and supporting vulnerable residents, with a stated focus on long-term social, economic and environmental outcomes and sustainable returns for shareholders.
Average Trading Volume: 148,220
Technical Sentiment Signal: Buy
Current Market Cap: £297.2M
Find detailed analytics on MER stock on TipRanks’ Stock Analysis page.