Melrose Industries (LON:MRO) Trading Down 14.4% – What’s Next?

Melrose Industries PLC (LON:MRO) was down 14.4% during trading on Thursday . The stock traded as low as GBX 577.40 ($7.44) and last traded at GBX 582.17 ($7.50). Approximately 48,573,266 shares changed hands during mid-day trading, an increase of 380% from the average daily volume of 10,116,607 shares. The stock had previously closed at GBX 680 ($8.77).

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 850 ($10.96) target price on shares of Melrose Industries in a research note on Thursday, January 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 640 ($8.25).

Melrose Industries Stock Performance

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 £7.52 billion, a P/E ratio of -196.89, a P/E/G ratio of 0.48 and a beta of 1.51. The business has a fifty day simple moving average of GBX 593.91 and a 200-day simple moving average of GBX 529.46.

Melrose Industries (LON:MRO) last issued 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%. On average, sell-side 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 firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of GBX 566 ($7.30), for a total transaction of £44,997 ($58,000.77). Company insiders own 1.00% of the company’s stock.

About Melrose Industries

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.