Melrose Industries (LON:MRO) Trading Down 7.9% – What’s Next?

Shares of Melrose Industries PLC (LON:MRO) were down 7.9% during trading on Friday . The stock traded as low as GBX 488.80 ($6.32) and last traded at GBX 512.36 ($6.62). Approximately 15,742,509 shares traded hands during mid-day trading, an increase of 65% from the average daily volume of 9,543,342 shares. The stock had previously closed at GBX 556.40 ($7.19).

Analysts Set New Price Targets

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

Melrose Industries Trading Down 11.7 %

The firm’s 50-day simple moving average is GBX 596.44 and its 200 day simple moving average is GBX 531.51. The company has a quick ratio of 0.45, a current ratio of 0.86 and a debt-to-equity ratio of 44.03. The firm has a market cap of £6.35 billion, a P/E ratio of -166.14, a price-to-earnings-growth ratio of 0.48 and a beta of 1.51.

Melrose Industries (LON:MRO) last posted its quarterly 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%. As a group, analysts expect that Melrose Industries PLC will post 33.9741641 earnings per share for the current year.

Insider Activity

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 shares were sold at an average price of GBX 566 ($7.31), for a total transaction of £44,997 ($58,143.17). 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.