Deutsche Bank AG Cuts Marks and Spencer Group Plc (MKS) Price Target to GBX 335
Marks and Spencer Group Plc (LON:MKS) had its price objective reduced by Deutsche Bank AG from GBX 345 ($4.54) to GBX 335 ($4.41) in a research report sent to investors on Thursday morning. They currently have a hold rating on the retailer’s stock.
MKS has been the topic of several other research reports. Societe Generale downgraded shares of Marks and Spencer Group Plc to a sell rating and lowered their target price for the company from GBX 376 ($4.95) to GBX 301 ($3.96) in a report on Wednesday, July 12th. HSBC Holdings plc reduced their price objective on shares of Marks and Spencer Group Plc from GBX 435 ($5.72) to GBX 410 ($5.39) and set a buy rating for the company in a research note on Tuesday, November 7th. Shore Capital reiterated a hold rating on shares of Marks and Spencer Group Plc in a research note on Wednesday. Barclays PLC reduced their price objective on shares of Marks and Spencer Group Plc from GBX 425 ($5.59) to GBX 370 ($4.87) and set an overweight rating for the company in a research note on Friday, September 1st. Finally, Liberum Capital reiterated a sell rating and issued a GBX 250 ($3.29) price objective on shares of Marks and Spencer Group Plc in a research note on Wednesday. Nine equities research analysts have rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company’s stock. Marks and Spencer Group Plc presently has a consensus rating of Hold and a consensus target price of GBX 353.32 ($4.65).
Shares of Marks and Spencer Group Plc (LON MKS) traded down GBX 6 ($0.08) during trading hours on Thursday, hitting GBX 319.20 ($4.20). 13,642,455 shares of the stock traded hands, compared to its average volume of 7,940,000. Marks and Spencer Group Plc has a 1-year low of GBX 306.70 ($4.03) and a 1-year high of GBX 397.80 ($5.23).
Marks and Spencer Group Plc (LON:MKS) last issued its earnings results on Wednesday, November 8th. The retailer reported GBX 10.70 ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of GBX 9.60 ($0.13) by GBX 1.10 ($0.01). The business had revenue of GBX 512.56 billion for the quarter. Marks and Spencer Group Plc had a net margin of 1.77% and a return on equity of 6.40%.
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The company also recently disclosed a dividend, which will be paid on Friday, January 12th. Stockholders of record on Thursday, November 16th will be given a GBX 6.80 ($0.09) dividend. This represents a dividend yield of 2.13%. The ex-dividend date is Thursday, November 16th.
In related news, insider Archie Norman bought 10,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was purchased at an average cost of GBX 320 ($4.21) per share, for a total transaction of £32,000 ($42,088.65).
About Marks and Spencer Group Plc
Marks and Spencer Group plc (M&S) is a retailer in the United Kingdom, with over 1,380 stores around the world. The Company is the holding company of the Marks & Spencer Group of companies. The Company operates through two segments: UK and International. The UK segment consists of the United Kingdom retail business and the United Kingdom franchise operations.
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