Berenberg Bank Reaffirms Buy Rating for FirstGroup (LON:FGP)

Berenberg Bank reaffirmed their buy rating on shares of FirstGroup (LON:FGP) in a report released on Monday,London Stock Exchange reports. They currently have a GBX 205 ($2.61) price objective on the transport operator’s stock.

FirstGroup Trading Up 6.5 %

Shares of FGP stock traded up GBX 10.01 ($0.13) during mid-day trading on Monday, reaching GBX 164.11 ($2.09). 1,293,621 shares of the stock traded hands, compared to its average volume of 1,302,389. The company has a market cap of £986.16 million, a price-to-earnings ratio of -8,205.65, a price-to-earnings-growth ratio of 5.21 and a beta of 1.59. The company has a quick ratio of 0.74, a current ratio of 0.69 and a debt-to-equity ratio of 256.40. The stock’s fifty day simple moving average is GBX 142.43 and its two-hundred day simple moving average is GBX 155.32. FirstGroup has a 1-year low of GBX 128.60 ($1.64) and a 1-year high of GBX 189 ($2.41).

FirstGroup Cuts Dividend

The firm also recently declared a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Thursday, November 28th will be paid a dividend of GBX 1.70 ($0.02) per share. This represents a dividend yield of 1.24%. The ex-dividend date is Thursday, November 28th. FirstGroup’s payout ratio is currently -30,000.00%.

Insider Buying and Selling

In other news, insider Graham Sutherland purchased 20,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were purchased at an average price of GBX 153 ($1.95) per share, for a total transaction of £30,600 ($39,005.74). 3.64% of the stock is owned by corporate insiders.

About FirstGroup

FirstGroup plc provides public transport services in the United Kingdom. The company operates through First Bus and First Rail segments. The First Bus segment offers local bus services with a fleet of approximately 4,900 buses in the United Kingdom. The First Rail segment operates a passenger rail network that provides long-distance, commuter, regional, and sleeper services through a portfolio of Great Western Railway, South Western Railway, TransPennine Express, and Avanti West Coast franchises; and hull trains and Lumos.