Made Tech Group (LON:MTEC) released its quarterly earnings on July 7, 2023, revealing a earnings per share (EPS) of GBX 0.94. Despite the reported earnings, the company faced challenges with a negative return on equity of 18.03% and a negative net margin of 6.36%. Following the announcement, shares of Made Tech Group traded down by 12.0%, opening at GBX 35.63.
The company’s market capitalization stands at £53.19 million, accompanied by a remarkably high price-to-earnings ratio of -4,095.40 and a beta of 0.90. The stock has experienced notable fluctuations over the past year, with a 12-month low of GBX 14.50 and a high of GBX 42. The firm’s fifty-day simple moving average is GBX 37.21, while the 200-day moving average sits at GBX 31.54.
Analyst Insights and Market Reaction
In light of the earnings report, analysts have weighed in on the stock’s performance. Canaccord Genuity Group reaffirmed a “buy” rating and established a price target of GBX 55 for Made Tech Group shares in a report issued on July 8. Currently, one analyst has rated the stock as a buy, contributing to a consensus rating of “buy” among analysts. According to data from MarketBeat.com, the consensus target price for the shares remains at GBX 55.
About Made Tech Group
Founded in the United Kingdom, Made Tech Group Plc specializes in providing digital, data, and technology services primarily to the public sector. The company focuses on digital delivery, embedded capabilities, data infrastructure, insights, and legacy application transformation services. By partnering with central government, healthcare, and local government organizations, Made Tech Group aims to facilitate digital transformation across various public sectors.
As the company navigates its financial challenges, stakeholders will be keenly observing its strategic initiatives and market positioning to assess its future prospects.
