Melrose Industries (LON:MRO) Shares Down 11.3% – Here’s What Happened

Melrose Industries PLC (LON:MRO) shares traded down 11.3% during mid-day trading on Thursday . The company traded as low as GBX 556.40 ($7.19) and last traded at GBX 603 ($7.79). 16,228,400 shares traded hands during trading, an increase of 72% from the average session volume of 9,413,459 shares. The stock had previously closed at GBX 680 ($8.79).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 850 ($10.99) target price on shares of Melrose Industries in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 640 ($8.27).

Melrose Industries Price Performance

The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45. The firm has a fifty day moving average of GBX 597.55 and a two-hundred day moving average of GBX 531.47. The stock has a market capitalization of £6.35 billion, a P/E ratio of -166.14, a P/E/G ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last released its quarterly earnings data on Thursday, March 6th. The company reported GBX 26.80 ($0.35) earnings per share for the quarter. Melrose Industries had a negative return on equity of 1.18% and a negative net margin of 1.13%. On average, analysts predict that Melrose Industries PLC will post 33.9741641 EPS for the current year.

Insider Activity at Melrose Industries

In other Melrose Industries news, insider David Lis sold 7,950 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.32), for a total value of £44,997 ($58,158.20). 1.00% of the stock is currently owned by corporate insiders.

Melrose Industries Company Profile

Melrose Industries PLC, together with its subsidiaries, provides aerospace components and systems to civil and defence markets in the United Kingdom, rest of Europe, North America, and internationally. The company operates through two segments, Engines and Structures. The Engines segment offers structural engineered components; parts repair; and commercial and aftermarket contracts to engines original equipment manufacturers.