Canaccord Genuity Group Cuts Michelmersh Brick (LON:MBH) Price Target to GBX 160

Michelmersh Brick (LON:MBH) had its price target trimmed by Canaccord Genuity Group from GBX 170 ($2.20) to GBX 160 ($2.07) in a research report report published on Tuesday morning, Marketbeat.com reports. The brokerage currently has a buy rating on the stock.

Michelmersh Brick Stock Performance

Michelmersh Brick stock opened at GBX 96.71 ($1.25) on Tuesday. The firm has a market capitalization of £88.95 million, a PE ratio of 11.00 and a beta of 1.01. Michelmersh Brick has a one year low of GBX 92 ($1.19) and a one year high of GBX 111.65 ($1.45). The stock’s 50 day moving average price is GBX 105.07 and its 200 day moving average price is GBX 102.42. The company has a debt-to-equity ratio of 2.05, a quick ratio of 1.56 and a current ratio of 2.13.

Michelmersh Brick (LON:MBH) last posted its earnings results on Tuesday, March 25th. The company reported GBX 8.18 ($0.11) EPS for the quarter. Michelmersh Brick had a net margin of 11.46% and a return on equity of 8.82%. As a group, sell-side analysts expect that Michelmersh Brick will post 10.3053435 EPS for the current fiscal year.

Michelmersh Brick Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 5th will be given a dividend of GBX 3 ($0.04) per share. This represents a dividend yield of 3.06%. This is a positive change from Michelmersh Brick’s previous dividend of $1.60. The ex-dividend date of this dividend is Thursday, June 5th. Michelmersh Brick’s payout ratio is presently 56.87%.

About Michelmersh Brick

Michelmersh Brick Holdings PLC is a business with seven market leading brands: Blockleys, Carlton, Charnwood, Freshfield Lane, Michelmersh, Hathern Terra Cotta and Floren. These divisions operate within a fully integrated business combining the manufacture of clay bricks and pavers. The Group also includes a landfill operator, New Acres Limited, and seeks to develop future landfill and development opportunities on ancillary land assets.

Established in 1997 the Company has grown through acquisition and organic growth into a profitable and asset rich business, producing over 120 million clay bricks and pavers per annum.