Morgan Advanced Materials (LON:MGAM) Trading Down 16.2% – What’s Next?

Morgan Advanced Materials plc (LON:MGAM)’s share price was down 16.2% on Saturday . The stock traded as low as GBX 198 ($2.49) and last traded at GBX 214.51 ($2.70). Approximately 8,720,610 shares were traded during mid-day trading, an increase of 451% from the average daily volume of 1,583,410 shares. The stock had previously closed at GBX 256 ($3.22).

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Citigroup lifted their target price on Morgan Advanced Materials from GBX 325 ($4.09) to GBX 330 ($4.15) and gave the company a “buy” rating in a research report on Thursday, January 23rd. Royal Bank of Canada reduced their price objective on shares of Morgan Advanced Materials from GBX 350 ($4.40) to GBX 320 ($4.02) and set an “outperform” rating on the stock in a report on Thursday, November 7th.

Morgan Advanced Materials Price Performance

The company has a debt-to-equity ratio of 103.31, a current ratio of 2.19 and a quick ratio of 1.26. The firm has a market capitalization of £604.67 million, a price-to-earnings ratio of 8.83, a PEG ratio of 0.51 and a beta of 1.34. The stock has a 50 day moving average price of GBX 265.32 and a two-hundred day moving average price of GBX 270.85.

Morgan Advanced Materials (LON:MGAM) last released its earnings results on Friday, February 28th. The company reported GBX 25.50 ($0.32) earnings per share for the quarter. Morgan Advanced Materials had a return on equity of 19.02% and a net margin of 6.17%. As a group, analysts expect that Morgan Advanced Materials plc will post 32.5 EPS for the current year.

Morgan Advanced Materials Company Profile

Morgan Advanced Materials plc operates as a materials science and application engineering company primarily the United Kingdom. It serves customers in the industrial, transportation, petrochemical and chemical, energy, semiconductor and electronics, healthcare, and security and defense markets. The company was formerly known as The Morgan Crucible Company plc and changed its name to Morgan Advanced Materials plc in March 2013.