Serco Group (LON:SRP) Stock Crosses Above 200-Day Moving Average – Here’s Why

Shares of Serco Group plc (LON:SRP) passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of GBX 179.22 ($2.35) and traded as high as GBX 180.30 ($2.36). Serco Group shares last traded at GBX 178 ($2.33), with a volume of 2,535,024 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SRP. Shore Capital reaffirmed a “buy” rating on shares of Serco Group in a research note on Thursday, August 1st. Deutsche Bank Aktiengesellschaft increased their price objective on Serco Group from GBX 200 ($2.62) to GBX 205 ($2.68) and gave the company a “hold” rating in a research note on Friday, June 28th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Serco Group in a research note on Friday, August 30th.

Serco Group Trading Up 0.2 %

The business has a 50 day simple moving average of GBX 173.97 and a two-hundred day simple moving average of GBX 179.22. The company has a current ratio of 0.91, a quick ratio of 0.98 and a debt-to-equity ratio of 77.78. The company has a market cap of £1.87 billion, a PE ratio of 1,371.54, a price-to-earnings-growth ratio of 3.06 and a beta of 0.38.

Serco Group Cuts Dividend

The firm also recently declared a dividend, which was paid on Friday, October 4th. Shareholders of record on Thursday, August 29th were paid a GBX 1.34 ($0.02) dividend. This represents a yield of 0.7%. The ex-dividend date was Thursday, August 29th. Serco Group’s payout ratio is 3,076.92%.

Serco Group Company Profile

Serco Group plc provides public services in the United Kingdom, Europe, North America, the Asia Pacific, and the Middle East. It offers service design and advisory, resourcing, programmes management, systems integration, case management, engineering, and assets and facilities management services. The company also provides administrative and back office, asylum seeker accommodation or passenger transport services; supports in the decarbonization journeys of customers and society, including installation of ground source heat pumps, solar panels, and energy efficiency upgrades; ecosystem restoration and biodiversity services comprising plantation; reforestation services; and a rage of support services for environmental protection.