TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Mitie Group plc ( (GB:MTO) ) has provided an update.
Mitie Group plc announced the purchase of 500,000 of its own ordinary shares as part of its Share Buyback Programme. The shares were bought at a volume-weighted average price of 160.60 GBp and will be canceled, reducing the total number of voting rights. This move is part of Mitie’s strategy to manage its capital structure and potentially enhance shareholder value.
The most recent analyst rating on (GB:MTO) stock is a Buy with a £230.00 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, particularly in revenue growth and cash flow efficiency. However, technical indicators suggest a short-term bearish trend, and the valuation is fair. The absence of earnings call data and corporate events means these factors do not influence the score.
To see Spark’s full report on GB:MTO stock, click here.
More about Mitie Group plc
Founded in 1987, Mitie Group plc is a leading UK-based company specializing in technology-led facilities management, transformation, and compliance services. With a workforce of 84,000, Mitie partners with over 3,000 large customers in both public and private sectors, providing services in engineering, security, hygiene, and transformational projects such as decarbonization and telecoms infrastructure. The company is recognized for its ESG credentials and industry awards, including its commitment to reaching Net Zero.
Average Trading Volume: 3,473,549
Technical Sentiment Signal: Buy
Current Market Cap: £2.05B
Learn more about MTO stock on TipRanks’ Stock Analysis page.