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The latest update is out from Mitie Group plc ( (GB:MTO) ).
Mitie Group plc has repurchased 600,000 of its 2.5p ordinary shares on the London Stock Exchange as part of its ongoing share buyback programme, at a volume-weighted average price of 164.06p per share, and intends to cancel the shares. Following settlement and cancellation, the company will have 1,321,921,541 ordinary shares in issue (excluding treasury shares), reducing its share count and marginally increasing the proportionate ownership of remaining shareholders, in line with its broader capital allocation strategy and market positioning as a leading UK facilities management provider.
The most recent analyst rating on (GB:MTO) stock is a Buy with a £182.00 price target. To see the full list of analyst forecasts on Mitie Group plc stock, see the GB:MTO Stock Forecast page.
Spark’s Take on GB:MTO Stock
According to Spark, TipRanks’ AI Analyst, GB:MTO is a Outperform.
Mitie Group plc’s overall stock score is driven by strong financial performance and positive earnings call sentiment, highlighting robust revenue growth and strategic initiatives. The technical analysis and valuation suggest some caution due to potential overvaluation and overbought conditions. The company’s proactive corporate events, including share buybacks and acquisitions, further support its market position and shareholder value.
To see Spark’s full report on GB:MTO stock, click here.
More about Mitie Group plc
Mitie Group plc is a UK-based, technology-led facilities management, transformation and compliance company founded in 1987, employing around 84,000 people. It provides engineering (hard services), security and hygiene (soft services), and specialist projects such as decarbonisation, fire safety, telecoms infrastructure, and building modernisation to over 3,000 large public- and private-sector clients, holding market-leading positions across multiple sectors including government, critical national infrastructure, defence, healthcare, financial services, retail, logistics, and transport.
Average Trading Volume: 4,339,009
Technical Sentiment Signal: Buy
Current Market Cap: £2.1B
Find detailed analytics on MTO stock on TipRanks’ Stock Analysis page.