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Mitie Group plc ( (GB:MTO) ) has provided an update.
Mitie Group plc has announced the repurchase of 834,472 of its ordinary shares at an average price of 161.35 GBp per share as part of its Share Buyback Programme. The company intends to cancel these shares, which will affect the total number of voting rights. This move is part of Mitie’s ongoing 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 £153.00 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 technology-led facilities management, transformation, and compliance company in the UK, employing 80,000 colleagues. It serves around 3,000 customers across public and private sectors, offering services in engineering, security, hygiene, power and grid connections, building fit-outs, decarbonisation, fire safety, and telecoms infrastructure. Mitie holds market leadership in its core services and is recognized for its ESG credentials, including a place on the CDP Climate Change A List. The company has been acknowledged as a UK Top Employer and is ranked in the Top 100 Apprenticeship Employers and Inclusive Top 50 UK Employers list.
Average Trading Volume: 3,579,663
Technical Sentiment Signal: Buy
Current Market Cap: £2.05B
Find detailed analytics on MTO stock on TipRanks’ Stock Analysis page.