Mitie Group Suspends Share Buyback Programme Amid Marlowe Acquisition

Mitie Group plc ( (GB:MTO) ) has shared an update.

Mitie Group plc has announced the suspension of its £125m share buyback programme following its acquisition of Marlowe plc. The decision aligns with the company’s capital deployment policy, which prioritizes strategic mergers and acquisitions, a progressive dividend policy, and fulfilling employee incentive schemes. Despite the suspension, Mitie plans to purchase additional shares to satisfy its 2022 Save As You Earn scheme. The company expects its leverage to decrease rapidly post-acquisition, allowing for the resumption of returning surplus funds to shareholders.

The most recent analyst rating on (GB:MTO) stock is a Buy with a £145.00 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 demonstrates solid financial health with strong revenue and cash flow growth, supported by strategic share buybacks. The technical indicators are positive, but caution is advised due to potential overbought conditions. The attractive valuation further complements the stock’s favorable outlook.

To see Spark’s full report on GB:MTO stock, click here.

More about Mitie Group plc

Founded in 1987, Mitie Group plc is the UK’s leading technology-led Facilities Transformation company, employing 76,000 colleagues. It partners with a diverse range of blue-chip customers across public and private sectors to transform built estates and enhance the lived experience for colleagues and customers. Mitie offers engineering maintenance, security, hygiene, and project capabilities in power, grid connections, building fit-outs, decarbonisation, and telecoms infrastructure. It holds industry-leading ESG credentials and targets Net Zero by the end of 2025.

Average Trading Volume: 3,956,637

Technical Sentiment Signal: Buy

Current Market Cap: £1.92B

For a thorough assessment of MTO stock, go to TipRanks’ Stock Analysis page.