Canaccord Genuity Group Forecasts Strong Price Appreciation for M.P. Evans Group (LON:MPE) Stock

M.P. Evans Group (LON:MPE) had its price target lifted by Canaccord Genuity Group from GBX 1,400 ($18.10) to GBX 1,500 ($19.39) in a research note published on Friday, MarketBeat Ratings reports. Canaccord Genuity Group currently has a buy rating on the stock.

M.P. Evans Group Stock Performance

LON MPE opened at GBX 1,000 ($12.93) on Friday. The stock has a market cap of £649.12 million, a P/E ratio of 10.07 and a beta of 0.69. The company’s fifty day simple moving average is GBX 1,029.06 and its 200-day simple moving average is GBX 974.68. The company has a current ratio of 1.70, a quick ratio of 1.91 and a debt-to-equity ratio of 8.89. M.P. Evans Group has a 52 week low of GBX 792 ($10.24) and a 52 week high of GBX 1,130 ($14.61).

M.P. Evans Group Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, June 19th. Investors of record on Thursday, April 24th will be issued a GBX 37.50 ($0.48) dividend. The ex-dividend date of this dividend is Thursday, April 24th. This represents a yield of 3.64%. This is an increase from M.P. Evans Group’s previous dividend of $15.00. M.P. Evans Group’s dividend payout ratio is currently 48.36%.

About M.P. Evans Group

M.P. Evans Group PLC is a responsible producer of certified sustainable crude palm oil (“CPO”), with plantations in five Indonesian provinces: Aceh, Bangka Belitung, East Kalimantan, North Sumatra and South Sumatra.

Headquartered in the UK, the Group’s shares are traded on the London Stock Exchange’s Alternative Investment Market (“AIM”).