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

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

Analyst Ratings Changes

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

Melrose Industries Stock Down 11.7 %

The business has a 50-day moving average of GBX 597.55 and a 200 day moving average of GBX 531.47. The company has a market capitalization of £6.35 billion, a PE ratio of -166.14, a P/E/G ratio of 0.48 and a beta of 1.51. The company has a debt-to-equity ratio of 44.03, a current ratio of 0.86 and a quick ratio of 0.45.

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

Insider Activity at Melrose Industries

In related news, insider David Lis sold 7,950 shares of Melrose Industries stock in a transaction dated Monday, December 9th. The stock was 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 owned by 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.