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

Shares of Melrose Industries PLC (LON:MRO) fell 11.3% during 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 mid-day 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).

Analysts Set New Price Targets

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

Melrose Industries Price Performance

The company has a market capitalization 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 company has a 50-day moving average price of GBX 597.55 and a 200-day moving average price of GBX 531.47. The company has a debt-to-equity ratio of 44.03, a quick ratio of 0.45 and a current ratio of 0.86.

Melrose Industries (LON:MRO) last posted 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 return on equity of 1.18% and a negative net margin of 1.13%. On average, equities research analysts expect that Melrose Industries PLC will post 33.9741641 EPS for the current fiscal year.

Insider Activity at Melrose Industries

In related news, insider David Lis sold 7,950 shares of the business’s stock in a transaction that occurred on 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.