Melrose Industries (LON:MRO) Trading Down 11.7% – Here’s What Happened

Melrose Industries PLC (LON:MRO)’s share price was down 11.7% on Friday . The company traded as low as GBX 488.80 ($6.32) and last traded at GBX 491.24 ($6.35). Approximately 18,429,754 shares were traded during trading, an increase of 92% from the average daily volume of 9,600,518 shares. The stock had previously closed at GBX 556.40 ($7.19).

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 850 ($10.98) price objective on shares of Melrose Industries in a report on Thursday, January 23rd.

Melrose Industries Price Performance

The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86. The stock has a market cap of £6.35 billion, a price-to-earnings ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51. The business’s fifty day simple moving average is GBX 596.44 and its 200 day simple moving average is GBX 531.51.

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

Insider Activity

In other news, insider David Lis sold 7,950 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of GBX 566 ($7.31), for a total value of £44,997 ($58,143.17). Company insiders own 1.00% of the company’s stock.

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.