ME Group International (LON:MEGP) Trading Down 9.1% – Here’s What Happened

ME Group International plc (LON:MEGP) shares fell 9.1% on Friday . The company traded as low as GBX 196 ($2.47) and last traded at GBX 200 ($2.52). 23,768,385 shares changed hands during trading, an increase of 1,925% from the average session volume of 1,173,753 shares. The stock had previously closed at GBX 220 ($2.77).

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on MEGP shares. Canaccord Genuity Group upped their target price on ME Group International from GBX 203 ($2.56) to GBX 235 ($2.96) and gave the company a “buy” rating in a research note on Tuesday. Berenberg Bank restated a “buy” rating and issued a GBX 270 ($3.40) price objective on shares of ME Group International in a research report on Wednesday, December 4th.

ME Group International Price Performance

The firm has a market cap of £730.59 million, a price-to-earnings ratio of 13.80 and a beta of 1.20. The business’s 50-day moving average price is GBX 211.41 and its two-hundred day moving average price is GBX 206.92.

ME Group International (LON:MEGP) last posted its quarterly earnings data on Monday, February 24th. The company reported GBX 14.36 ($0.18) earnings per share (EPS) for the quarter. ME Group International had a return on equity of 32.52% and a net margin of 17.39%. As a group, sell-side analysts forecast that ME Group International plc will post 15.5344418 earnings per share for the current year.

About ME Group International

ME Group International plc (LSE: MEGP) operates, sells and services a wide range of instant-service vending equipment, primarily aimed at the consumer market.

The Group operates vending units across 18 countries and its technological innovation is focused on four principal areas:

• Photo.ME – Photobooths and integrated biometric
identification solutions
• Wash.ME – Unattended laundry services and launderettes
• Print.ME – High-quality digital printing kiosks
• Feed.ME – Vending equipment for the food service market

In addition, the Group operates other vending equipment such as children’s rides, amusement machines, and business service equipment.

Whilst the Group both sells and services this equipment, the majority of units are owned, operated and maintained by the Group.